- Adjusted earnings per share were $1.37, down 4% year-over-year but up 21% sequentially.
- Adjusted EBITDA was $55.8 million, representing a record 20.8% margin, down 3% year-over-year but with 10 basis points of margin expansion.
- Electronic Materials segment delivered record EBITDA margin of 23.4% with $17.8 million EBITDA, up 4% year-over-year.
- Free cash flow was $36 million in Q2, the strongest second quarter free cash flow in company history.
- Net debt was approximately $413 million with leverage below 2x and $257 million available capacity on credit facility.
- Performance Materials sales were $168.5 million, down 3% year-over-year but up 5% sequentially, with EBITDA of $41.5 million or 24.6% margin.
- Precision Optics sales were $24.4 million, down 5% year-over-year but up 14% sequentially, with EBITDA of $2.2 million or 9% margin.
- Value-added sales were $269 million in Q2, down 2% organically year-over-year but up 4% sequentially.
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Dafinchi