Dafinchi AI

ESI

Industrial

Adjusted EBITDA margin declined roughly 40 basis points year-over-year in constant currency, impacted by higher pass-through metal prices.
Adjusted EBITDA was $136 million, exceeding guidance of $120 million to $125 million.
Electronics segment showed 9% organic growth, broad-based across verticals.
Excluding pass-through metal sales, adjusted EBITDA margin improved by 30 basis points year-over-year.
Generated $59 million of adjusted free cash flow in Q2, with $18 million CapEx focused on growth investments.
Industrial & Specialty segment showed 10% adjusted EBITDA growth excluding graphics divestiture impact.
Net leverage ratio was 2.1x at quarter end, with no debt maturities until 2028.
Organic sales grew 6% in Q2 2025, with adjusted EBITDA increasing 7% excluding the graphics business divestiture.
Repurchased approximately 1 million shares at an average price of $20.45 early in the quarter.

LHX

Industrial

Aerojet Rocketdyne delivered its highest revenue quarter on record with a 2.0 book-to-bill.
Free cash flow was $574 million, driven by increased operating income and improved working capital performance.
L3Harris reported record $8.3 billion in orders for Q2 2025, resulting in a 1.5 book-to-bill ratio.
Non-GAAP EPS was $2.78, up 16% year-over-year; pension-adjusted EPS was $2.42, up 22% year-over-year.
Revenue was $5.4 billion, reflecting strong organic growth of 6%.
Segment operating margin was 15.9%, up 30 basis points, marking the seventh consecutive quarter of year-over-year margin expansion.
Segment results included CS revenue up 2% with 24.4% margin, IMS revenue up 6% organically with 13.2% margin, SAS revenue up 7% organically with 12.3% margin, and Aerojet Rocketdyne with 12% organic growth and 13.3% margin.

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