Adjusted EBITDA margin increased 90 basis points sequentially but was down 60 basis points year-over-year due to gross margin pressure.
Adjusted EPS was $3.39, up 6% year-over-year.
CSS segment grew 17% organically, EES grew 6%, while UBS declined 4% in Q2.
Free cash flow was $87 million in Q2, representing 45% of adjusted net income, with $644 million generated on a trailing 12-month basis.
Gross margin was 21.1%, flat sequentially but down 80 basis points year-over-year due to project and product mix.
Net working capital intensity improved by 60 basis points year-over-year to 19.9%.
Preferred stock redemption in June improved earnings and cash flow run rates, with an estimated annualized benefit of $32 million or $0.65 per diluted share.
Total data center sales surpassed $1 billion in Q2, up 65% year-over-year.
WESCO reported accelerating sales momentum with 7% organic sales growth in Q2 2025, following 6% growth in Q1.
Adjacent Industries sales rose 10% to $336 million, primarily due to acquisitions of Freedman Seating and Trans/Air, partially offset by softness in the marine market.
Adjusted EBITDA was $121 million or 11% of net sales.
Aftermarket net sales increased 4% to $268 million, driven by product innovation and expanded partnerships, notably with Camping World.
GAAP net income was $58 million or $2.29 per diluted share, adjusted net income was $60 million or $2.39 per diluted share.
Gross margin declined to 24.4% from 25.3% due to executive separation costs and product mix changes.
LCI Industries reported second quarter 2025 net sales of $1.1 billion, a 5% increase year-over-year, driven by organic growth and acquisitions.
OEM segment operating margin was 6.2%, improving 10 basis points excluding separation expenses; Aftermarket margin was 13.5%, down from 15.5% due to mix and investments.
Operating cash flow for the first half of 2025 was $155 million, with $192 million cash on hand and net debt approximately 2x EBITDA.
Operating profit was $88 million or 7.9%, a 70 basis point contraction year-over-year; excluding separation costs, operating margin was nearly flat.
RV OEM net sales were $503 million, up 3% year-over-year, supported by market share gains and higher content in fifth-wheel units despite a shift toward lower content single-axle travel trailers.
Dafinchi