Adjusted earnings per share was $1.08, inclusive of a discrete tax benefit.
Adjusted EBITDA margin was 8.1%, down 260 basis points versus prior year, reflecting gross margin changes and growth investments.
Adjusted gross margin rate was 27.5%, down due to a 3-point impact from tariffs and lower volume, partially offset by supply chain efficiencies and price actions.
Adjusted segment margin for Tools & Outdoor was 8%, down 240 basis points due to tariffs, lower volume, and growth investments.
Engineered Fastening adjusted segment margin was 10.8%, down due to softness in automotive fasteners.
Engineered Fastening segment revenue was down 2% reported and 1% organically, with aerospace growing over 20% organically.
Second quarter 2025 revenue was $3.9 billion, down 2% versus the previous year and down 3% organically.
Second quarter free cash flow was $135 million, strong despite operational impacts from trade policies.
The quarter was impacted by a slow outdoor buying season and shipment disruptions related to tariffs.
Tools & Outdoor segment revenue was approximately $3.5 billion, down 2% year-over-year and 3% organically.
Dafinchi