Adjusted Q2 operating profit was $5 million, significantly down from prior year, excluding $15 million in severance and asset impairment costs.
Bolzoni revenues declined year-over-year due to phasing out lower-margin legacy products, but showed sequential revenue growth.
Lift Truck segment margins were negatively impacted by $10 million in tariff-driven material and freight cost increases.
Net debt improved year-over-year due to excess cash generation and debt reduction; liquidity remains strong with nearly $260 million unused borrowing capacity.
Operating cash flow improved to approximately $30 million in Q2, driven by working capital management and inventory reductions.
Q2 2025 revenues declined 19% year-over-year due to lower volumes and tariff-related economic uncertainty.
Tax expense was $200,000 in Q2 compared to $26 million prior year, influenced by lower pretax earnings and capitalization of R&D costs.
Adjusted EBITDA was $3.9 million, an improvement of $6.6 million year-over-year, reflecting strong operating leverage.
CapEx was $6.9 million, primarily software-related, with expected quarterly CapEx of approximately $7 million for the remainder of 2025.
Cash and cash equivalents and marketable securities totaled $226 million at quarter end, down $5 million from Q1 due to CapEx investments.
Completed convertible debt refinancing with $250 million of new 0.75% convertible notes due 2030, improving terms and reducing dilution risk.
Gross profit was $65.2 million with a record gross margin of 40.1%, marketplace gross margin reached 35.4%, up 190 basis points year-over-year.
Marketplace revenue was $148 million, up 26% year-over-year, while supplier services revenue was $14.3 million, declining slightly.
Q2 2025 revenue increased 23% year-over-year to $163 million, driven by strong marketplace growth.
U.S. segment adjusted EBITDA was $6.9 million with a 5.1% margin, improving $6.6 million year-over-year; International segment loss was $2.9 million, flat year-over-year.
Consumer & Specialties sales were $278 million, up 4% sequentially; Household & Personal Care sales were $127 million, up 3% sequentially.
Engineered Solutions sales were $251 million, up 12% sequentially; High-Temperature Technologies sales were $178 million, 3% below prior year but up 5% sequentially.
Free cash flow was $34 million in Q2; CapEx was $29 million with full-year projection of approximately $100 million.
Liquidity stood at nearly $700 million with net leverage ratio at 1.7x EBITDA, below the 2x target.
Operating income for Consumer & Specialties was $37 million, up 24% sequentially with margin at 13.4%.
Operating income for Engineered Solutions was $44 million, with margin improving 200 basis points sequentially to 17.4%, matching last year's record.
Operating income was $79 million, up 25% sequentially, with operating margin at 14.9%, up 200 basis points from Q1.
Sales reached $529 million, an 8% sequential increase driven by higher volumes and favorable pricing.
Second quarter EPS was $1.55, up 36% sequentially and second only to last year's stronger Q2.
Strong cash conversion maintained at around 7% of sales, consistent with historical averages.
Adjusted EBITDA was $54 million in Q2 2025, compared to $116 million in Q2 2024, with an adjusted EBITDA margin of 18% versus 29% last year.
Cash cost of sales decreased by $35 million to $225 million, with cash cost per short ton falling to $101 from $124, reflecting lower variable transportation and royalty costs and cost control efforts.
Free cash flow was negative $57 million in Q2 2025 due to $94 million in capital expenditures and mine development, primarily for Blue Creek, but the underlying business generated approximately $40 million of free cash flow excluding these investments.
Total revenues decreased to $298 million from $397 million year-over-year, driven by lower average gross selling prices and a higher mix of high vol A coal sold.
Warrior reported net income of $6 million or $0.11 per diluted share in Q2 2025, down from $71 million or $1.35 per diluted share in Q2 2024, primarily due to 30% lower average net selling prices.
Adjusted EBITDA was $1.3 billion, up 1.8% year-over-year.
Adjusted operating expenses increased 28 basis points to 13.7% of sales due to investments in fleet, buildings, and sales headcount.
Adjusted operating income was $1.1 billion, up 1.1% year-over-year, with adjusted EPS growth of 6.5% to $1.48.
A noncash goodwill impairment charge of $92 million was recorded related to the guests worldwide business.
Gross profit grew 3.9% with 19 basis points of gross margin expansion, driven by strategic sourcing efforts.
International segment posted 3.6% top line growth reported and 8.3% excluding Mexico, with 4% local case growth and 20.1% adjusted operating income increase.
Local U.S. Foodservice case volume declined 1.5%, a 200 basis point improvement from Q3, with a 1% decline excluding an intentional business exit.
SYGMA segment sales grew 5.9% in Q4 and 8.3% for the year, with bottom line growth of 12.5%.
Sysco reported Q4 sales of $21.1 billion, up 2.8% on a reported basis and 3.7% excluding the divestiture of the Mexican business.
US Foodservice national sales volume grew 1.3%, with gross profit growing nearly 3x faster than volume due to customer optimization and contract provisions.
Dafinchi