Adjusted diluted earnings per share rose 29% year-over-year, marking the highest quarterly EPS growth since 2016 separation from flooring business.
Architectural Specialties segment net sales grew 37%, with 15% organic growth and strong contributions from 2024 acquisitions 3form and Zahner; adjusted EBITDA grew 61% with margin at approximately 22%.
In Q2 2025, Armstrong World Industries increased net sales by 16% and adjusted EBITDA by 23%, expanding adjusted EBITDA margin by 200 basis points to 36%.
Mineral Fiber segment net sales grew 7% with 5% AUV growth and modest volume contribution; adjusted EBITDA grew 16% with margin expansion of 350 basis points to approximately 45%.
Strong adjusted free cash flow generation allowed continued capital allocation including $14 million dividends and $30 million share repurchases in Q2, with $610 million remaining under repurchase authorization.
Average headcount was down 11.2% year-over-year and 3.7% sequentially.
C.H. Robinson delivered a 21% year-over-year increase in enterprise Q2 income from operations.
Effective tax rate for Q2 was 21.4%, with full year 2025 expected to be 18% to 20%.
Ended Q2 with $1.22 billion liquidity and net debt-to-EBITDA leverage of 1.40x, improved from 1.54x in Q1.
Generated $227.1 million in cash from operations in Q2; capital expenditures were $20.2 million.
NAST AGP increased 3% and global forwarding AGP increased 1.9% year-over-year.
NAST operating margin was approximately 38% in Q2, increasing year-over-year and sequentially.
NAST outgrew the market in both truckload and LTL, expanding gross margins and improving productivity year-over-year and sequentially.
Personnel expenses were $335.3 million including $3.9 million charges related to workforce reductions; excluding charges, personnel expenses were down $20.3 million.
Q2 SG&A expenses were $142 million, down slightly excluding divestiture charges.
Returned approximately $161 million to shareholders in Q2 through share repurchases and dividends.
Total AGP increased by $5.8 million year-over-year despite a $15 million decline from the sale of European Surface Transportation business.
Total operating expenses declined $32 million or 6.3% year-over-year.
Adjusted EBITDA margin in Q4 was 14.8%, down from 17.7% in the prior year quarter, mainly due to lower volumes and tariff impacts.
Adjusted EPS for fiscal 2025 was $1.34, supported by one-time items and restructuring savings despite lower sales and production volumes.
Adjusted EPS in Q4 declined to $0.34 from $0.49 in the prior year quarter.
Capital expenditures were $87 million in fiscal 2025, compared to $102 million the prior year.
Free operating cash flow for fiscal 2025 was $121 million, down from $175 million the prior year, impacted by lower net income and higher inventory costs.
Kennametal reported a 4% organic sales decline for fiscal 2025, with Metal Cutting down 5% and Infrastructure down 2%.
Kennametal returned $122 million to shareholders in fiscal 2025 through $60 million in share repurchases and $62 million in dividends.
Q4 sales declined 5% organically year-over-year, with Metal Cutting down 4% and Infrastructure down 5%.
Dafinchi