Adjusted EBITDA was $218 million, up 13%, with consolidated adjusted EBITDA margin expanding 140 basis points to 22.6%.
Aptar delivered a strong second quarter exceeding the high end of guidance with adjusted EPS of $1.66, up 18% year-over-year.
Balance sheet remains strong with cash and short-term investments near $170 million, net debt of $917 million, and leverage ratio of 1.19.
Beauty segment core sales increased 1%, driven by tooling sales and growth in Masstige fragrance and Personal Care.
Closures segment core sales increased 7%, with food up 13%, beverage up 7%, and personal care down 4%.
Consumer Healthcare declined due to softer demand in Europe for nasal decongestants and saline rinse solutions.
Core sales increased driven by Pharma and Closures segments; Pharma core sales grew 3%, with Prescription up 8%, Injectables 9%, and Active Materials 11%.
Effective tax rate for Q2 was 20.0%, down from 23.5% prior year, reflecting tax planning benefits.
Free cash flow for first six months was $92 million, in line with prior year.
Gross margins expanded over 30 basis points year-over-year; SG&A as a percentage of sales declined 80 basis points to 15.6%.
Year-to-date reported and core sales increased 2%, adjusted EPS up 8%, and adjusted EBITDA margin increased 130 basis points to 21.7%.
Transformation and Margin Expansion in Industrial Segment
The Industrial segment achieved a record adjusted operating margin of 25.1%, up 90 basis points from the previous year, driven by The Win Strategy.
The company expects a 700 basis point margin expansion from FY '19 through FY '26, demonstrating significant margin resilience even during negative organic growth periods.
The portfolio's shift towards longer cycle, secular trend, and aftermarket revenues is a key factor, with 67% now in these categories.
International and diversified industrial businesses are using cost reduction and efficiency tools to sustain margin growth amid market challenges.
The transformation includes acquisitions and international distribution growth, with an aim for 85% of the portfolio to be longer cycle, secular, and aftermarket by FY '29.
Aerospace segment posted 10% order growth on a rolling 12-month basis and backlog expansion of 16% year-over-year.
Data center market showed exceptional growth with orders up approximately 55% and sales up 50% versus Q2 2024.
Eaton posted record quarterly revenue of $7 billion in Q2 2025, with adjusted EPS of $2.95, up 8% year-over-year, hitting the high end of guidance.
Electrical Americas backlog grew 17% year-over-year to $11.4 billion, with orders accelerating to +2% on a trailing 12-month basis from -4% last quarter.
Organic sales growth was 8% overall, driven by strong performance in Electrical Americas (12%), Electrical Global (7% organic plus 2% FX), and Aerospace (11%).
Segment margins expanded by 20 basis points to 23.9%, with Electrical Americas operating margin at 29.5%, Electrical Global at 20.1%, Aerospace at 22.2%, Vehicle at 17%, and eMobility operating loss of $10 million.
Vehicle segment declined 8% organically due to weakness in North America truck market, while eMobility revenue decreased 4% with an operating loss.
Dafinchi