Advanced Polymer Solutions segment EBITDA was $40 million, stable with prior quarter despite ongoing challenges in automotive markets.
Cash balance at the end of the quarter was $1.7 billion, above the target cash balance of $1.5 billion, supporting financial flexibility.
Cash conversion rate over the past 12 months was 75%, close to the long-term target of 80%, with strong shareholder returns totaling $2.1 billion over the last 12 months.
Cash generation resumed in the quarter with cash returns to shareholders exceeding $500 million through increased dividends and opportunistic share repurchases.
Intermediates and Derivatives segment EBITDA increased by $79 million to $290 million, primarily from improved styrene and propylene oxide margins.
Olefin and Polyolefin Americas segment EBITDA improved by more than 25% sequentially to $318 million, driven by higher integrated polyethylene margins and less downtime.
Olefin and Polyolefin Europe, Asia and International segment EBITDA was $46 million, improving due to lower feedstock costs and seasonal demand.
Second quarter earnings were $0.62 per share with EBITDA of $715 million, showing sequential improvement due to less downtime and lower feedstock costs.
Technology segment EBITDA was $34 million, lower than guidance due to inventory cost adjustments and sales mix changes, with licensing activity remaining subdued.
Adjusted EPS was $0.11, down $0.06 year-over-year.
Adjusted operating income was $16.6 million and adjusted operating margin was 2.2%.
Consolidated gains on sale of property and equipment totaled $5.9 million, more than doubling year-over-year.
Consolidated gains on sale of property and equipment totaled $5.9 million, more than doubling year-over-year despite fewer units sold.
Dedicated average trucks decreased 0.9% year-over-year but increased sequentially by 1.6% to 4,855 trucks.
Dedicated revenue net of fuel was $287 million, down 0.7%, representing 64% of TTS trucking revenues.
Logistics adjusted operating margin improved 190 basis points to 2.7%, driven by volume growth and cost reductions.
Logistics revenue was $221 million, up 6% year-over-year and 13% sequentially, with Truckload Logistics revenue up 9% and Intermodal revenues up 3%.
Logistics revenue was $221 million, up 6% year-over-year and 13% sequentially, with Truckload Logistics revenue up 9% and Intermodal revenue up 3%.
Net debt to adjusted EBITDA was 1.7x with total liquidity of $695 million at quarter end.
One-Way revenue per truck per week increased 0.4% due to higher rates, mitigated by lower miles per truck per week.
One-Way trucking revenue net of fuel was $164 million, down 3%, with average truck count declining 3.5% year-over-year but growing slightly sequentially.
One-Way trucking revenue net of fuel was $164 million, down 3%, with average truck count declining 3.5% year-over-year but slightly up sequentially.
Operating cash flow was $46 million (6% of revenue), net CapEx was $66 million (9% of revenue), and free cash flow year-to-date was $17.3 million (1.2% of revenues).
Operating cash flow was $46 million for the quarter, net CapEx was $66 million, and free cash flow year-to-date was $17.3 million.
Second quarter revenues totaled $753 million, down 1%.
Truckload Transportation Services (TTS) total revenue was $518 million, down 4%, with revenues net of fuel surcharges decreasing 1% to $462 million.
TTS adjusted operating income was $12.8 million with an adjusted operating margin net of fuel at 2.8%, a decrease of 220 basis points largely due to higher insurance and claims expense.
TTS average trucks were 7,489, up 1% year-over-year and 1.4% sequentially.
Consolidated adjusted EBITDA grew nearly 70% to $39.6 million with a margin of 16.9%, a 340 basis point improvement over the prior year.
GAAP net income was positive at $18.4 million or $0.42 per diluted share, compared to a net loss in the prior year period.
Leverage ratio improved to 2.5x at quarter end and pro forma leverage after preferred stock redemption is 2.99x.
Montrose Environmental reported record Q2 2025 revenue of $234.5 million, a 35.3% increase year-over-year, driven by organic growth, environmental emergency response revenue, and acquisitions.
Operating cash flow improved by $48.5 million year-over-year to $27.4 million in the first half of 2025, with free cash flow increasing by $63.1 million to $16.7 million.
Year-to-date revenue increased 25.5% to $412.4 million, and adjusted EBITDA rose 46% to $58.6 million with a 14.2% margin.
Dafinchi
