Adjusted earnings per share increased 24% to $1.02, supported by strong operating results, a lower tax rate, foreign currency gains, and higher pension income.
Adjusted EBITDA was $146 million, up 16% year-over-year, driven by strong government operations performance.
Commercial Operations adjusted EBITDA was $16 million, down from $23 million last year, with margin pressure due to mix and growth investments.
Commercial Operations revenue increased 24% due to acquisitions and medical growth, but organic revenue declined 3%.
Free cash flow was robust at $126 million, aided by good working capital management.
Government Operations revenue grew 9% with adjusted EBITDA up 23%, yielding a 22.6% margin.
Second quarter 2025 revenue was $764 million, up 12% year-over-year, with organic revenue growth of 4% excluding acquisitions.
Adjusted earnings per share were $3.47, and operating cash flow was $296 million, generally in line with Q2 2024.
E-Systems segment sales were $1.6 billion, down 1% from 2024, with adjusted operating margins of 4.9%.
Lear Corporation delivered $6 billion of revenue in Q2 2025, with core operating earnings of $292 million and a total company operating margin of 4.8%.
Operating cash flow improved slightly compared to last year, driven by working capital improvements despite lower core operating earnings.
Sales were flat year-over-year at $6 billion, excluding foreign exchange and other impacts, sales were down 1%.
Seating segment sales were $4.5 billion, up 1% from 2024, with adjusted operating margins of 6.7%.
The company repurchased $25 million of shares in Q2 and $50 million in the first half, maintaining a dividend of $0.77 per share.
Balance sheet remains strong with EUR 300 million debt retired in the quarter and EUR 600 million maturing in Q4.
EUR 300 million of debt was retired during the quarter, with EUR 600 million maturing in Q4.
Industrial Coatings segment sales volumes were flat, showing improvement and initial benefits from share gains.
Industrial Coatings segment sales volumes were flat, showing initial benefits from share gains.
Packaging Coatings organic sales increased by a high single-digit percentage year-over-year.
Performance Coatings segment achieved record net sales and earnings with 6% organic sales growth.
Performance Coatings segment delivered record net sales and earnings with 6% organic sales growth.
PPG delivered net sales of $4.2 billion with 2% organic sales growth in Q2 2025.
Protective & Marine Coatings achieved double-digit organic sales growth for the ninth consecutive quarter.
Protective & Marine Coatings had double-digit organic sales growth for the ninth consecutive quarter.
Quarterly dividend per share was raised by 4%.
Segment EBITDA margin declined in Global Architectural Coatings due to divestiture, lower volumes, and unfavorable currency translation, partially offset by cost controls.
Segment EBITDA margin declined in Packaging Coatings due to divestiture and lower selling prices, partially offset by cost control.
Segment EBITDA margin was 20.3% and adjusted EPS was $2.22.
Segment EBITDA margin was 20.3% for the quarter.
The company repurchased $150 million of stock in Q2, totaling $540 million year-to-date, and raised its quarterly dividend by 4%.
The company repurchased approximately $150 million of stock in Q2, totaling $540 million year-to-date.
Dafinchi