Dafinchi AI

Sanmina Corporation

SANM

Industrial

2w

Progress and Outlook of the ZT Systems Acquisition

The acquisition is on track to close near the end of 2025, pending regulatory approvals.
Expected to add $5 billion to $6 billion of annual net revenue on a run rate basis.
The business is profitable and has a stable foundation, with potential for growth and expansion.
Sanmina plans to build a larger team, including sales and engineering, to capitalize on hyperscale customer opportunities.
Management emphasizes the strategic importance of the acquisition for long-term growth in data center and AI infrastructure markets.
The company expects to double its net revenue within three years post-acquisition, with the transaction being accretive to earnings in the first year.

Gates Industrial Corporation plc

GTES

Industrial

2w

Data Center Market Expansion and Product Innovation

Gates has significantly increased its involvement in the data center cooling market, with program involvement and revenue from this segment growing rapidly from a small base.
The company introduced new products such as the universal quick disconnect fitting and scaled up its electric pump portfolio to meet higher flow requirements.
Negotiations are underway with a major hyperscaler for 2026 supply, indicating a strategic focus on high-growth data center opportunities.
The momentum in product development and commercial coverage in data centers is expected to lead to a revenue inflection over the next few years.
Management sees the liquid cooling market expansion as a key secular growth opportunity, with potential revenues exceeding $150 million in the near term.
The company is actively building relationships with infrastructure providers and engineering firms, aiming for additional design wins.

Mirion Technologies, Inc.

MIR

Industrial

1w

Financial Performance Summary

Adjusted EPS was $0.11 per share, a 10% increase compared to last year, or $0.13 on an apples-to-apples basis excluding convertible notes and other share impacts.
Adjusted free cash flow in Q2 was $6 million, an 11% conversion of adjusted EBITDA, bringing the first half of 2025 total to $35 million.
Capital structure improvements included a $400 million convertible note offering and refinancing of Term Loan B to $450 million, lowering total cost of capital.
Medical segment adjusted EBITDA was $30.1 million, up nearly 20% versus last year, with margins increasing approximately 280 basis points.
Nuclear & Safety segment revenue grew 5.8% to $141.7 million, with organic revenue growth of 2.9%. Adjusted EBITDA declined slightly to $37.9 million, down 2.6% year-over-year.
Second quarter adjusted EBITDA was $51.2 million, up 4.9% versus last year's second quarter.
Second quarter revenue totaled $222.9 million, reflecting a 5.4% increase in organic revenue and a 7.6% increase in total revenue versus Q2 2024.
Year-to-date CapEx totaled $17 million, approximately $7 million lower than the first half of 2024, on track for $40 million in 2025, an 18% reduction versus 2024.

Quanta Services, Inc.

PWR

Industrial

1w

Strategic Acquisition of Dynamic Systems Enhances Growth Platform and Market Diversification

Acquisition of Dynamic Systems, a turnkey mechanical, plumbing, and process infrastructure solutions provider, announced during Q2 2025.
Dynamic Systems adds a diversified customer base, advanced digital solutions, and a highly synergistic craft-skilled workforce.
The acquisition is positioned as a platform for exponential growth, with expected synergies and expansion into new markets, including technology and manufacturing.
Management emphasizes the strategic rationale of acquiring companies that complement core capabilities and expand total addressable markets (TAMs).

The Manitowoc Company, Inc.

MTW

Industrial

5d

Financial Performance Summary

Cash used in operating activities was $68 million, including the EPA payment; capital expenditures were $6 million.
GAAP diluted EPS was $0.04; adjusted diluted EPS was $0.08, down $0.17 year-over-year.
Net leverage ratio increased to approximately 4x, with a target to reduce below 3x by year-end.
Net working capital rose to $580 million, including a $43 million payment related to an EPA matter.
Non-new machine sales were $162 million, up 10% year-over-year, contributing to a trailing 12-month record of $659 million.
Orders increased 6% year-over-year to $454 million, driven primarily by European tower crane business with new machine orders up 104%.
Q2 2025 revenue was $540 million, down 4% year-over-year, with adjusted EBITDA of $26 million, down $10 million year-over-year.
SG&A expenses increased by $4 million to $87 million, with adjusted SG&A up $9 million due to foreign currency and employee-related costs.

MMM

Industrial

3w

Accelerated New Product Launches and Innovation Pipeline

Launched 64 new products in Q2, up 70% YoY, with a total of 126 in the first half.
On track to exceed the annual target of $2.15 billion in new product sales.
5-year new product sales bottomed last year, up 9% in H1, tracking to over 15% for the year.
Management emphasized increased cadence, discipline, and higher launch schedule attainment, with a focus on innovation excellence.

GE

Industrial

4w

Financial Performance Summary

CES profit rose 33% with margins expanding 50 basis points to 27.9%.
DPT profit increased 5% despite tough comparisons, with margins slightly down 20 basis points to 14.1%.
Free cash flow nearly doubled to $2.1 billion.
GE Aerospace reported strong Q2 2025 results with revenue over $10 billion, up 23% year-over-year, driven by CES growth of 30% and DPT growth of 7%.
Inventory increased due to higher material input as output accelerates and LEAP deliveries grow 15-20% in 2025.
Orders increased 27%, with CES orders up 28% for services and 26% for equipment.
Profit increased 23% to $2.3 billion, with EPS up 38% to $1.66, supported by favorable tax rate, lower interest expense, and reduced share count.
Total engine deliveries rose 45%, including 37% commercial and 84% defense growth.