Americas revenue increased 21% to $840 million, adjusted EBITDA increased 34% to $133 million driven by volume growth, category mix, and lower operating costs.
AMP reported 5% global shipments growth and 18% adjusted EBITDA growth in Q2 2025 versus prior year, ahead of guidance.
Europe revenue increased 9% to $615 million (4% constant currency), shipments grew 1%, but adjusted EBITDA decreased 3% to $77 million due to input cost headwinds.
Net leverage declined to 5.3x from prior year, liquidity position strong at $680 million with no near-term bond maturities.
North America shipments increased 8%, Brazil beverage can shipments increased 12%, outperforming the industry.
Bookings in Q4 were a record $342 million with a book-to-bill ratio of 1.25, resulting in a record backlog of $1.4 billion, up 6% year-over-year.
Free cash flow for Q4 was $34 million, exceeding expectations, and full year free cash flow was a record $119 million.
GAAP net income in Q4 was $16 million versus a net loss of $11 million in the prior year quarter; full year GAAP net loss improved to $38 million from $138 million.
Q4 adjusted EBITDA was $51 million with a margin of 18.8%, up over 700 basis points sequentially; full year adjusted EBITDA was $119 million with a 13.1% margin.
Q4 revenue was $273 million, up 9.9% year-over-year, with full year revenue of $912 million, up 9.2%.
Average technical full-time equivalent employees decreased 2% to 958 from the prior year.
Billable hours decreased 6% year-over-year to approximately 359,000 hours.
Capital expenditures were $2.3 million.
Compensation expense increased 2% after adjusting for deferred compensation gains, which were significantly higher this quarter.
EBITDA decreased 7% to $37 million, with a margin of 27.8% compared to 30.2% in Q2 2024, primarily due to decreased utilization, increased operating expenses, and loss of tenant income.
G&A expenses increased 2% to $6.1 million.
Interest income increased to $2.3 million due to higher cash balances.
Net income decreased to $26.6 million or $0.52 per diluted share from $29.2 million or $0.57 per diluted share in the prior year period.
Other operating expenses increased 8% to $12.1 million, driven by Phoenix lease renewal and loss of rental income at Menlo Park.
Realized rate increase was approximately 5%, reflecting premium market positioning and differentiated expertise.
Shareholder distributions included $15.2 million in dividends and $27.7 million in stock repurchases at an average price of $75.66.
Total revenues for Q2 2025 increased 1% to $142 million, with net revenues approximately flat at $132.9 million compared to Q2 2024.
Utilization declined to 72.1% from 75.1%, partly due to the July 4 holiday occurring in Q2 2025 versus Q3 2024.
Adjusted operating income increased 48.8% year-on-year in Q4, with adjusted earnings per share rising 20.6% to a record $2.28.
Adjusted operating margin reached a record 20.6% in Q4, up 350 basis points year-on-year and 120 basis points sequentially.
Capital expenditures increased to $8.6 million in Q4 from $6.5 million a year ago.
Engineering Technologies revenue increased 26.8% to $32 million, led by acquisition benefits and organic growth from new products.
Engineering Technologies revenue increased 26.8% with 0.9% organic growth; Scientific revenue rose 2.3% but with a 13.9% organic decline due to NIH funding cuts.
Engraving revenue increased slightly by 0.6%, with improved operating margin due to productivity initiatives and restructuring.
Engraving revenue was flat with a slight organic decline but improved adjusted operating margin due to productivity initiatives and restructuring.
Fiscal year 2025 was a turning point for Standex with record profit generation and strong operational execution.
Fourth quarter sales increased 23.2% year-on-year to $222 million, driven by acquisitions and foreign currency benefits, partially offset by a slight organic decline of 1.4%.
Net cash provided by operating activities was $33.4 million in Q4, with free cash flow of $24.9 million, both improvements over the prior year.
Net leverage ratio was reduced to 2.6x at fiscal year-end, down from net cash of $5.3 million a year ago, with $27 million debt paydown in Q4.
Scientific segment revenue rose 2.3% due to acquisitions, offset by organic decline from NIH funding cuts.
Segment Electronics revenue grew 43.2% year-on-year to $115.2 million, driven by acquisitions and slight organic growth.
Segment performance highlights include Electronics revenue up 43.2% driven by acquisitions and slight organic growth, with adjusted operating margin of 28.5%.
Specialty Solutions revenue declined 1.2% due to market softness, with a decrease in operating margin.
Specialty Solutions revenue declined 1.2% with margin pressure due to market softness.
Adjusted operating earnings per share was $0.20 in Q2 compared to $0.23 in Q1, impacted by nonrecurring items and maintenance outages.
Depreciation and amortization were favorable due to non-repeat of accelerated depreciation from mill closures, partially offset by DS Smith integration costs.
DS Smith legacy operations contributed positively with a full quarter of earnings but faced softness in demand and higher fiber costs.
Free cash flow for Q2 was $54 million, with full-year guidance of $100 million to $300 million.
Operations and costs were unfavorable sequentially due to nonrecurring costs, natural gas curtailment, and maintenance outages.
Packaging Solutions EMEA experienced softer demand and a spike in fiber costs, partially offset by favorable energy costs.
Packaging Solutions North America saw improved on-time delivery from 92% to 97% and reduced volume gap to market by 200 basis points.
Second quarter revenue was at expectation, driven by a full quarter of DS Smith and strong price realization.
Volume was seasonally higher in North America but softer in EMEA, with lower volume in Global Cellulose Fibers (GCF) due to outages.
Free cash flow outlook remains unchanged despite higher adjusted EBITDA guidance due to timing and prudence around a large Canadian receivable.
Quanta Services reported strong second quarter 2025 results with revenues of $6.8 billion, net income attributable to common stock of $229 million or $1.52 per diluted share, adjusted diluted earnings per share of $2.48, and adjusted EBITDA of $669 million.
Record backlog reached $35.8 billion along with other record financial metrics.
Second quarter performance was ahead of expectations across most financial metrics and similar to the first quarter.
The company generated healthy cash flows with cash flow from operations of $296 million and free cash flow of $170 million in Q2.
The company is seeing mid-single digit organic top-line growth and close to double-digit EPS growth organically.
Dafinchi