Dafinchi AI

TRN

Industrial

Balance sheet remains strong with $792 million in liquidity and a loan-to-value ratio of 69.4% on wholly owned fleet.
Effective tax rate for the quarter was 15.8%, aided by $40 million in transferable tax credits purchased at a discount.
Fleet utilization remained high at 96.8% during the quarter.
Lease portfolio sales proceeds were $29 million in the quarter, with net gains on lease portfolio sales totaling $14 million year-to-date.
Maintenance services revenue increased 21% year-over-year due to favorable pricing and positive mix.
Net lease fleet investment year-to-date was $233 million, with active participation in the secondary market as both buyer and seller.
Railcar Leasing segment showed strong lease rate increases with a future lease rate differential of 18.3% and renewal rates 17.9% above expiring rates.
Rail Products segment delivered 1,815 railcars with a 3% operating margin, impacted by workforce reductions and lower order volumes.
Second quarter revenues were $506 million with GAAP EPS of $0.19, consistent with expectations given slower delivery pace.
Share repurchases totaled $31 million in the quarter, with $90 million returned to shareholders year-to-date through dividends and repurchases.
Year-to-date cash flow from continuing operations was $142 million.

ITT

Industrial

Adjusted EPS grew 10% year-over-year, or 16% excluding the Wolverine divestiture, reflecting profitable growth and operational improvements.
Free cash flow increased to $214 million year-to-date, with a free cash flow margin of 14% in Q2, and $500 million of shares repurchased year-to-date.
In Q2 2025, ITT delivered $1 billion in orders, up 16% total and 13% organic, driven by all businesses including acquisitions kSARIA and Svanehøj.
Margins expanded across segments: IP margin grew 100 basis points to nearly 22%, MT margin grew 140 basis points despite 100 basis points FX headwind, and CCT margin grew 270 basis points excluding M&A dilution.
Operating income grew more than twice the organic sales growth rate, with operating margin expanding over 100 basis points excluding M&A impacts.
Operating margin increased 30 basis points to 18.4%, driven by higher volumes, pricing actions, and operational improvements, offsetting FX and temporary acquisition amortization costs.
Revenue reached a record quarterly level of over $970 million, up 7% total and 4% organic, with contributions from all segments.
Segment highlights include Industrial Process growing 5% organically, Svanehøj growing 43%, Connect & Control (CCT) growing 4% organically, and Motion Technologies (MT) friction OE growing 7% organically.

MATV

Industrial

Adjusted EBITDA was $67.2 million, up 1% year-over-year and up $30 million sequentially from Q1 2025, marking the second highest adjusted EBITDA quarter since the merger.
Adjusted EPS was $0.33 compared to $0.34 in the prior year period.
Consolidated net sales for Q2 2025 were $525 million, slightly up from $524 million in Q2 2024 and up 8% sequentially from Q1 2025.
Filtration & Advanced Materials (FAM) segment sales were $204 million, down 1% year-over-year, with adjusted EBITDA of $40 million, down just under $2 million.
Interest expense remained steady at just over $18 million, with over 80% of debt at fixed rates maturing between 2027 and 2029.
Net debt decreased by over $40 million sequentially to $995 million, with a net leverage ratio of 4.5x, providing about 1 full turn of headroom versus the 5.5x covenant.
Sustainable & Adhesive Solutions (SAS) segment sales were $321 million, up 5% organically and 1% reported year-over-year, with adjusted EBITDA of $45 million, down just under 2%.
Tax rate was unusually high at 417% due to valuation allowances and one-time tax adjustments.

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