Dafinchi AI

Olin Corporation

OLN

Industrial

2w

Financial Performance Summary

Caustic soda demand remained stable with robust global alumina demand and Latin American pulp and paper capacity expansion offsetting US reductions.
Epoxy resin volume improved year over year despite weak building, automotive, and consumer electronics markets, supported by reliability and security of supply as the last fully integrated producer in North America and Europe.
Operating cash flow of more than $212 million was generated, funding the Winchester acquisition, paying down $39 million of debt, and buying back $10 million of Olin shares.
Second quarter adjusted EBITDA declined by 5% compared to 2025, primarily due to a headwind of $32 million of planned maintenance turnaround costs in our chemicals businesses.
Winchester's defense business grew due to strong military ammunition demand, while the commercial ammunition business faced margin weakness from customer destocking, lower pricing, and higher raw material costs.

Boise Cascade Company

BCC

Industrial

1w

Financial Performance Summary

BMD gross margin improved by 60 basis points year-over-year to 15.4%, despite stagnant demand and declining product prices.
Boise Cascade reported consolidated second quarter sales of $1.7 billion, down 3% from the prior year.
Building Materials Distribution (BMD) sales were $1.6 billion, down 2%, with segment EBITDA of $91.8 million compared to $97.1 million prior year.
Capital expenditures totaled $132 million in the first half of 2025, with $70 million in Wood Products and $62 million in BMD.
Net income was $62 million or $1.64 per share, compared to $112.3 million or $2.84 per share in the year-ago quarter.
Second quarter EBITDA margins for BMD were 5.7%, down slightly from 5.9% last year but up from 4.5% in the first quarter.
Wood Products segment sales were $447.2 million, down 9%, with EBITDA of $37.3 million versus $95.1 million last year.

Cleveland-Cliffs Inc.

CLF

Industrial

3w

Financial Performance Summary

Adjusted EBITDA improved by $271 million from the prior quarter in Q2 2025.
Average selling price rose to $1,015 per ton, a $35 increase from the prior quarter, driven by higher index pricing.
Capital expenditure and SG&A budgets were reduced by $50 million for the full year 2025.
Liquidity ended at $2.7 billion with no near-term maturities and manageable net debt.
Q2 free cash flow showed a $67 million outflow, driven by working capital reductions, with expectations for improved free cash flow in H2 2025.
Shipment volumes increased by 150,000 tons quarter-over-quarter to 4.3 million tons, improving operational efficiency and lowering production costs.
Stelco acquisition contributed to cost synergies, especially through internal coke production reducing external coke purchases.
Unit costs decreased by $15 per ton in Q2, contrary to prior expectations of a slight increase.

Sealed Air Corporation

SEE

Industrial

1w

Financial Performance Summary

Adjusted earnings per share were $0.89, up 7% as reported and 10% on a constant currency basis.
Adjusted EBITDA was $293 million, up 3% on a constant currency basis, with a margin of 22%, up 70 basis points year-over-year.
Food segment net sales were $896 million, flat year-over-year, with adjusted EBITDA of $210 million, up 3%, and margin at 23.4%.
Free cash flow for the first six months was $81 million, down from $207 million in the prior year period, driven by increased incentive compensation and tax payments.
Net leverage ratio stood at 3.6x, with a target to reduce to approximately 3.0x by end of 2026.
Net sales for Q2 2025 were $1.34 billion, down 1% on a constant currency basis.
Protective segment net sales were $439 million, down 3% reported and 4% constant currency, with adjusted EBITDA of $78 million, down 5%, and margin at 17.8%.
Volumes declined 2% overall, with Food volume weakness primarily due to softer industrial food processing volumes in North America.

ESCO Technologies Inc.

ESE

Industrial

5d

Financial Performance Summary

Adjusted earnings per share rose 25% to $1.60 in Q3 2025.
Adjusted EBIT margins increased from 19.3% to 21.1% year-over-year in Q3, driven by favorable price, mix, and leverage effects.
ESCO Technologies reported strong Q3 2025 financial results with reported sales growth of nearly 27% and organic sales growth of 11%, excluding the Maritime acquisition impact.
Test segment delivered 21% sales growth in Q3 and 15.4% adjusted EBIT growth, though margins declined slightly due to mix and tariff impacts.
The Aerospace & Defense segment showed 56% reported sales growth and 14% organic growth, with a 560 basis point margin increase and record backlog of $832 million.
Utility Solutions Group had flattish sales growth of 2% but strong order growth of 5.5%, with some margin pressure due to timing issues at Doble.
Year-to-date results show double-digit adjusted EBIT margin improvement and over 24% adjusted EPS growth.

Zurn Elkay Water Solutions Corporation

ZWS

Industrial

2w

Financial Performance Summary

Adjusted EBITDA was $118 million with a margin expansion of 120 basis points to 26.5%, the highest since the Zurn Elkay merger.
First half sales and EBITDA increased by $47 million and $22 million respectively, with a 47% drop-through on volume increase.
Free cash flow exceeded $100 million for the first time, ending at $102 million in the quarter.
Net debt leverage ended at 0.7x, the lowest as a public company, inclusive of $33 million share repurchases.
Second quarter sales totaled $445 million, representing 8% core growth year-over-year.

ECVT

Industrial

6d

Financial Performance Summary

Adjusted EBITDA for Ecoservices was $49.8 million, flat compared to Q2 2024, with pricing gains offset by lower volume and higher manufacturing costs.
Adjusted free cash flow was a use of $2 million in the first half of 2025, impacted by timing of dividends, higher capital expenditures, the Waggaman acquisition ($41 million cash outlay), and $22 million in share repurchases.
Advanced Materials and Catalysts segment sales declined slightly due to lower event-driven custom catalyst sales, with adjusted EBITDA at $13.7 million, above guidance but down from prior year.
Ecoservices sales increased 14% year-over-year to $176 million, driven by favorable pricing, the Waggaman acquisition, and higher sulfur costs pass-through.
Ecovyst reported adjusted EBITDA of just under $56 million for Q2 2025, exceeding the high end of guidance.
Net debt leverage rose to 3.5x at quarter-end, primarily due to acquisition and share repurchases, with pro forma leverage at 3.2x.
Total liquidity remained healthy at $152 million, including $83 million available under the ABL facility.
Zeolyst joint venture sales were $28 million, slightly below prior year, with higher sustainable fuel catalyst sales offsetting lower hydrocracking and custom catalyst sales.

Orion Engineered Carbons S.A.

OEC

Industrial

6d

Financial Performance Summary

Gross profit per ton improved sequentially due to better operating performance and cost improvements, partially offset by an adverse inventory revaluation.
Net debt-to-EBITDA ratio ended at 3.55, one turn above the high end of the target range.
Orion reported $69 million of adjusted EBITDA in Q2 2025, in line with expectations despite demand headwinds.
Rubber segment volumes grew 7% year-over-year with a 4% increase in adjusted EBITDA, driven by improved plant operations and despite import headwinds.
Specialty segment volumes declined 8% year-over-year and 6% sequentially due to macroeconomic uncertainty and tariff-related customer hesitancy.
Volumes increased 3% year-over-year but declined 4.5% sequentially.

Clearwater Paper Corporation

CLW

Industrial

2w

Financial Performance Summary

Adjusted EBITDA margin was 10.2% in the quarter, a significant improvement from a negative $8.6 million adjusted EBITDA in the prior year.
Clearwater Paper delivered $40 million of adjusted EBITDA in Q2 2025, in the middle of the guidance range of $35 million to $45 million.
Consolidated net income from continuing operations was $4 million or $0.22 per diluted share.
Net sales were $392 million, up 14% year-over-year primarily due to the Augusta acquisition, and up 4% sequentially driven by increased shipments in the food service business.
Operating cash flow was approximately $30 million in Q2, largely offset by capital expenditures as part of the $80 million to $90 million annual CapEx guidance.
Pricing was stable sequentially but down approximately 3% year-over-year reflecting broader market trends.
SG&A expenses decreased nearly 14% year-over-year to 6.7% of net sales, within the target range of 6% to 7%, driven by cost reduction initiatives and Augusta integration completion.
Share repurchases totaled $4 million in Q2 and $18 million year-to-date against a $100 million authorization.

Builders FirstSource, Inc.

BLDR

Industrial

2w

Financial Performance Summary

Adjusted EBITDA was $506 million, down 24%, with margin at 12%, down 300 basis points due to lower gross profit and reduced operating leverage.
Adjusted EPS was $2.38, down 32%, with share repurchases adding approximately $0.18 per share benefit.
Adjusted SG&A was $818 million, up $4 million, mainly from acquired operations, with 30% fixed and 70% variable costs.
Capital expenditures were $86 million; $61 million deployed on acquisitions; repurchased 3.3 million shares for $391 million.
Gross profit was $1.3 billion, down 11% year-over-year, with gross margin at 30.7%, down 210 basis points due to margin normalization and low starts environment.
Net debt to adjusted EBITDA ratio was about 2.3x, fixed charge coverage ratio roughly 6x; no long-term debt maturities until 2030.
Net sales decreased 5% to $4.2 billion in Q2, driven by lower organic sales and commodity deflation, partially offset by acquisitions.
Operating cash flow was $341 million, down $111 million mainly due to lower net income; free cash flow was $255 million.