Adjusted EPS was $0.51, down 40% year-over-year, in line with expectations due to divestitures and lower volumes.
APS segment revenue declined 11% to $507 million, with adjusted EBITDA down 27% and margin at 15.8%, affected by volume and product mix.
GAAP net income was $2 million, a significant improvement from a $249 million loss in the prior year, driven by the absence of a prior year impairment charge.
MTS segment revenue decreased 2% to $92 million, with adjusted EBITDA down 9% and margin at 19.9%, impacted by tariffs but partially offset by pricing and productivity.
Net debt was $1.51 billion with a net debt to pro forma adjusted EBITDA ratio of 3.9x, improved to 3.7x post quarter-end divestiture of TerraSource minority stake.
Pro forma adjusted EBITDA was $84 million, down 28%, with a margin of 14.1%, decreasing 360 basis points due to lower volume and operating leverage headwinds.
Q3 revenue was $599 million, down 24% year-over-year and 10% on a pro forma basis, impacted by the divestiture of MIME and lower APS capital equipment volume.
Dafinchi