Adjusted diluted earnings per share for the second quarter was $0.21.
Adjusted income from operations was $57 million, a 9% increase year-over-year.
Enterprise revenues, excluding fuel surcharge, were $1.3 billion, up 10% compared to 1 year ago.
Free cash flow increased approximately $10 million compared to the same period in 2024.
Intermodal operating income was $16 million, a 10% increase compared to the same period last year.
Intermodal operating ratio was 93.9%, an improvement of 30 basis points compared to second quarter 2024.
Intermodal revenues, excluding fuel surcharge, were $265 million for the second quarter, up 5% year-over-year.
Logistics income from operations was $8 million, near first quarter levels, but down 29% from last year's high watermark.
Logistics operating ratio was 97.7%, an increase of 120 basis points compared to prior year.
Logistics revenue, excluding fuel surcharge, totaled $340 million in the second quarter, up 7% from the same period 1 year ago.
Net debt leverage was 0.6x at the end of the quarter, an improvement from 0.8x at the end of the first quarter.
Network margins improved sequentially by 150 basis points.
Truckload earnings improved nearly 60% sequentially and over 30% year-over-year.
Truckload operating income reached $40 million, a 31% increase year-over-year.
Truckload operating ratio was 93.6%, an improvement of 70 basis points compared to last year and approximately 230 basis points better than the first quarter.
Truckload revenue, excluding fuel surcharge, was $622 million in the second quarter, up 15% year-over-year.
A. O. Smith reported second quarter 2025 sales of $1 billion, a 1% decrease year-over-year, with earnings per share of $1.07, a 1% increase compared to the prior period.
China sales declined 11% in local currency due to economic challenges and limited government subsidies, but operating margin was maintained through restructuring and cost controls.
North America segment sales decreased 1% to $779 million, driven by lower water heater volumes but offset by higher boiler sales; segment operating margin expanded by 30 basis points to 25.4%.
Operating cash flow for the first half of 2025 was $178 million, with free cash flow of $140 million, both higher than the prior year period.
Rest of the World segment sales decreased 2% to $240 million, including $16 million from the Pureit acquisition; earnings remained flat at $25 million with a slight margin decline to 10.5%.
Share repurchases totaled approximately 3.8 million shares for $251 million in the first half of 2025, with full-year repurchase plans increased to approximately $400 million.
The company ended June with $178 million in cash and a net debt position of $126 million, with a leverage ratio of 14.1%.
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