- A 7% increase in quarterly dividend was announced, raising it to $0.94 per share.
- Adjusted EBITDA margin was strong at 16.6%, up 20 basis points compared to prior year.
- Free cash flow was nearly $190 million in the quarter, with strong cash conversion expected for the full year.
- Materials Group adjusted EBITDA margin was 17.8%, slightly down year-over-year but up sequentially.
- Materials Group sales were down 1% organically, with high-value categories up low single digits and base business down low single digits.
- Net debt to adjusted EBITDA ratio was 2.3 at quarter end.
- Sales were down 1% organically, with positive volume mix offset by deflation-related price reductions.
- Second quarter adjusted earnings per share were $2.42, up 5% sequentially and comparable to prior year.
- Solutions Group adjusted EBITDA margin was 17.1%, up 30 basis points compared to prior year.
- Solutions Group sales were down 1% organically, with high-value categories up low single digits and base solutions down mid-single digits.
- The company returned roughly $500 million to shareholders in the first half of the year through share repurchases and dividends.
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