AMETEK delivered record second quarter sales of $1.78 billion, a 2.5% increase from Q2 2024, with organic sales flat, acquisitions adding 1.5 points, and foreign currency translation a 1-point benefit.
Capital expenditures were $29 million in Q2; expected full year $160 million or about 2% of sales.
Core margins were 26.7%, up 90 basis points excluding acquisition and currency impacts.
Depreciation and amortization expense was $108 million; full year expected at $425 million including $210 million after-tax acquisition-related amortization.
Earnings per diluted share were $1.78, up 7% versus Q2 2024.
EBITDA was a record $565 million, up 4% with EBITDA margins at 31.8%.
Effective tax rate was 19%, consistent with prior year; full year expected between 19% and 19.5%.
Electromechanical Group sales were a record $618 million, up 6%, with organic sales up 5% and currency up 1 point; operating income was a record $144 million, up 17%, with operating margins at 23.3%, up 210 basis points, and core margins up 260 basis points.
Electronic Instruments Group sales were $1.16 billion, up 1%, with organic sales down 3%, acquisitions up 2 points, and currency up 1 point; operating margins were 29.7%, core margins 30.7%, up 40 basis points.
General and administrative expenses were $27 million or 1.5% of sales, in line with prior year.
Gross debt-to-EBITDA ratio was 0.85, net debt-to-EBITDA ratio was 0.6; pro forma for FARO acquisition gross debt-to-EBITDA increases to 1.25.
Interest expense was $17 million; other expenses increased by $3 million due to lower pension income and foreign exchange.
Operating cash flow was $359 million; free cash flow was $330 million with year-to-date free cash flow conversion at 102% of net income.
Operating income was $462 million, up 3% year-over-year, with operating margins at 26%, up 20 basis points from prior year.
Operating working capital was 18.6% of sales, consistent with prior year.
Total debt at June 30 was $1.9 billion, down from $2.1 billion at end of 2024; cash and equivalents were $620 million.
Capital expenditures totaled $68 million in the quarter, with $19 million returned to shareholders via dividends.
LPX reported Q2 2025 sales of $755 million and EBITDA of $142 million, with adjusted EPS of $0.99.
Operating cash flow was $162 million, supported by $142 million EBITDA and seasonal working capital reductions.
Operating efficiencies improved with Siding OEE at 78% and OSB OEE at 79%.
OSB segment faced multi-year low commodity prices, resulting in $19 million EBITDA, outperforming algorithmic guidance due to cost control and price realization lag.
Siding segment revenue grew 11% year-over-year, driven by 2% price and 8% volume increases, achieving record volume, revenue, and EBITDA.
Dafinchi