Aftermarket operations accounted for approximately 63% of total gross profit, with parts, service, and collision center revenues reaching $636.3 million, a 1.4% increase year-over-year.
Board of Directors approved a $0.19 per share cash dividend, a 1% increase over the prior quarterly dividend and the ninth increase since July 2018.
Medium-duty Class 4-7 commercial vehicle sales increased 1% year-over-year with 3,626 units sold in the U.S., representing 6.2% market share.
New Class 8 truck sales in the U.S. were 3,178 units, a 20% year-over-year decrease primarily due to timing of large fleet deliveries in the prior year.
Repurchased $83.9 million of common stock during the quarter and paid $14.5 million in cash dividends.
Rush Truck Leasing achieved record revenues of $93.1 million, up 6.3% year-over-year.
Second quarter revenues were $1.9 billion with net income of $72.4 million or $0.90 per diluted share.
Technician turnover reached a 12-month low and aftermarket revenues reached their highest level in the past 12 months.
Used commercial vehicle sales were flat year-over-year at 1,715 units.
Bedding Products sales decreased 11% year-over-year, with strong trade rod and wire sales offset by weakness in mattresses and adjustable bases.
Furniture, Flooring & Textile Products sales were down 2%, with positive growth in Work Furniture and Textiles offset by declines in home furniture and flooring products.
Liquidity at quarter end was $878 million, including $369 million cash and $509 million revolving credit facility capacity.
Operating cash flow was $84 million, down $10 million versus prior year, mainly due to less benefit from working capital and noncash earnings items.
Second quarter earnings per share were $0.38; adjusted EPS was $0.30, a 3% increase from $0.29 in second quarter 2024.
Second quarter EBIT was $90 million and adjusted EBIT was $76 million, up $4 million versus second quarter 2024 adjusted EBIT, driven by metal margin expansion, restructuring benefits and cost management, partially offset by lower volume.
Second quarter sales were $1.1 billion, down 6% versus second quarter of 2024, due to softness in residential end markets, Automotive and Hydraulic Cylinders, partially offset by strength in trade wire and rod sales, Textiles, Work Furniture and Aerospace.
Specialized Products declined 5%, with Aerospace growing 6% but Automotive and Hydraulic Cylinders declining.
Total debt was reduced by $143 million to $1.8 billion, with net debt to trailing 12-month adjusted EBITDA at 3.5x.
Adjusted income from continuing operations was $1.55 per share compared to $1.54 per share last year.
Bell revenues increased $222 million to $1 billion, with segment profit of $80 million, down $2 million due to higher R&D costs.
Corporate expenses were $36 million; net interest expense was $26 million; LIFO inventory provision was $38 million; intangible asset amortization was $8 million; net special charges were $4 million.
Finance segment revenues were $15 million with profit of $8 million, up from $12 million revenue and $7 million profit last year.
Industrial revenues declined $75 million to $839 million, with segment profit up $12 million to $54 million, reflecting disposition impacts and cost reductions.
Manufacturing cash flow before pension contributions totaled $336 million versus $320 million in Q2 2024.
Segment profit was $346 million, up $3 million from the prior year quarter.
Textron Aviation revenues were $1.5 billion, up $42 million, with segment profit of $180 million, down $15 million due to mix and warranty costs.
Textron eAviation revenues were $8 million with a segment loss of $16 million, slightly improved from last year.
Textron reported revenues of $3.7 billion in Q2 2025, up 5.4% or $189 million from Q2 2024.
Textron repurchased approximately 2.9 million shares for $214 million in the quarter, totaling 5.8 million shares and $429 million year-to-date.
Textron Systems revenues were $321 million, down $2 million, with segment profit up $5 million to $40 million.
Adjusted EBITDA margin was 8.9%, down 60 basis points year-over-year due to inflation-driven SG&A cost increases.
Adjusted EPS for Q2 was $2.10, down 14% year-over-year, impacted by lower pension income and higher depreciation and interest expenses.
Adjusted EPS was $2.10 for Q2, down 14% year-over-year, impacted by lower pension income and higher depreciation and interest expenses.
Adjusted SG&A increased 150 basis points to 28.7% of sales, driven by salaries, wages, rent, and freight costs.
Cash from operations for the first six months was approximately $170 million, down from prior year due to lower earnings and tax payments.
Global Automotive segment sales increased 5.0%, with EBITDA margin at 8.6%, down 110 basis points year-over-year due to inflationary cost pressures.
Global Automotive segment sales increased 5.0%, with EBITDA of $338 million (8.6% of sales), down 110 basis points year-over-year due to inflationary cost pressures.
Gross margin expanded by 110 basis points compared to the prior year, driven by pricing, sourcing initiatives, and acquisitions.
Industrial segment sales grew approximately 1%, with EBITDA margin at 12.8%, up 10 basis points year-over-year.
Returned $277 million to shareholders through dividends in the first half of 2025.
Returned $277 million to shareholders via dividends in the first half of 2025.
Segment EBITDA for Global Industrial was $288 million (12.8% of sales), up 10 basis points year-over-year.
Total GPC sales for Q2 2025 were $6.2 billion, up 3.4% year-over-year.
$200 million of common stock repurchased in Q2; $1.2 billion remains authorized for repurchases.
Aluminum Operations had operating losses of $69 million in first half 2025, with estimated losses of $40 million in Q3 and improving to $15-$20 million in Q4.
Capital investments for second half 2025 expected around $400 million, mainly for aluminum and biocarbon projects.
Cash flow from operations was $302 million in Q2; liquidity ended at $1.9 billion including $744 million cash and short-term investments.
Metal Recycling operating income was $21 million, $4 million lower sequentially due to lower realized ferrous pricing despite record shipments.
Operating income of $383 million was 39% higher than the first quarter, driven by steel metal spread expansion.
Second quarter 2025 net income was $299 million or $2.01 per diluted share with adjusted EBITDA of $533 million.
Second quarter 2025 revenue was $4.6 billion, above sequential first quarter results due to higher realized steel pricing.
Steel Fabrication operating income was $93 million, lower than first quarter due to pricing decline and increased steel substrate costs.
Steel Operations operating income was $382 million, over 65% higher sequentially due to pricing increases despite modestly lower shipments.
Cash flow from operations was $285.9 million for Q2 and $622.4 million for the first six months of 2025; capital expenditures were $187.2 million and $275.3 million respectively.
Direct operating costs increased as a percent of revenue, driven primarily by higher employee benefit costs, which rose to 39.5% of salaries and wages from 37.2% the prior year.
Effective tax rate was 24.8% in Q2 2025, slightly up from 24.5% in Q2 2024, with an expected rate of 24.8% for Q3.
Old Dominion's revenue totaled $1.41 billion for the second quarter of 2025, a 6.1% decrease from the prior year, reflecting a 9.3% decrease in LTL tons per day partially offset by a 3.4% increase in LTL revenue per hundredweight.
Operating ratio increased 270 basis points to 74.6% due to deleveraging effects from decreased revenue and increased overhead costs, including depreciation and miscellaneous expenses.
Sequentially, revenue per day increased 0.8% compared to the first quarter of 2025, with LTL tons per day increasing 0.1% and LTL shipments per day increasing 0.8%.
Share repurchases totaled $223.5 million in Q2 and $424.6 million in the first six months; cash dividends were $59.0 million and $118.5 million respectively.
Dafinchi