Adjusted net income was negative $6.1 million or negative $0.15 per diluted share, beating expectations due to higher revenue and cost containment.
Capital allocation included $6 million traditional CapEx, $0.7 million invested in Trailers as a Service, $10.4 million share repurchases, and $3.4 million dividends.
Gross margins were 9% with breakeven adjusted operating margins.
In Q2 2025, Wabash reported consolidated revenue of $459 million, slightly better than expectations and at the top end of guidance.
Liquidity was $312 million with a net debt leverage ratio of 6.2x as of June 30.
Parts and Services segment generated $60 million revenue and $9.1 million operating income, showing sequential and year-over-year growth.
Transportation Solutions segment generated $400 million revenue and $13 million operating income.
Year-to-date operating cash flow was negative $16.1 million due to timing of revenue and working capital drag.
Adjusted earnings per share were $3.47, and operating cash flow was $296 million, generally in line with Q2 2024.
E-Systems segment sales were $1.6 billion, down 1% from 2024, with adjusted operating margins of 4.9%.
Lear Corporation delivered $6 billion of revenue in Q2 2025, with core operating earnings of $292 million and a total company operating margin of 4.8%.
Operating cash flow improved slightly compared to last year, driven by working capital improvements despite lower core operating earnings.
Sales were flat year-over-year at $6 billion, excluding foreign exchange and other impacts, sales were down 1%.
Seating segment sales were $4.5 billion, up 1% from 2024, with adjusted operating margins of 6.7%.
The company repurchased $25 million of shares in Q2 and $50 million in the first half, maintaining a dividend of $0.77 per share.
All segments increased adjusted EBIT, with Construction Products Group and Performance Coatings Group showing the largest growth and three of four segments achieving record Q4 adjusted EBIT.
CapEx increased by $15.9 million over prior year due to growth projects and plant consolidations under MAP 2025.
Consolidated sales increased 3.7% in Q4, with adjusted EBIT up 10.1%, overcoming cost inefficiencies from plant consolidations and raw material inflation, particularly metal packaging.
Debt increased by $519.5 million year-over-year due to acquisitions but leverage ratios remain near all-time best levels with strong liquidity of $969.1 million.
Fiscal 2025 saw record annual sales, adjusted EBIT, adjusted EPS, and a record adjusted EBIT margin, with gross margins expanding close to a 42% goal and adjusted EBIT margin improving by 260 basis points since 2022.
Operating cash flow for fiscal 2025 was $768.2 million, the second highest in company history, supporting dividends, share repurchases, and acquisitions.
RPM International reported record fourth quarter sales, adjusted EBIT, and adjusted EPS driven by volume growth in systems and turnkey solutions for high-performance buildings and maintenance and repair focus.
Working capital as a percent of sales improved by 320 basis points, strengthening cash flow and enabling the largest year of acquisitions in RPM's history.
Adjusted debt-to-EBITDA ratio finished at 2.8x, maintaining A-ratings from all three credit rating agencies.
Adjusted operating ratio was 58.1%, improving 230 basis points versus last year, reflecting a 90 basis point impact from the Brakeperson agreement.
Cash from operations totaled $4.5 billion, up over $500 million versus last year, with $4.3 billion returned to shareholders through share repurchases and dividends.
Freight revenue growth was driven by volume growth adding 375 basis points and price/mix contributing 200 basis points, offset partially by a $100 million decline in fuel surcharge revenue due to lower fuel prices.
Fuel expense declined 8% due to an 11% decrease in fuel prices and improved fuel consumption rate by 2%, setting a second quarter record.
Operating expenses increased only 1% to $3.6 billion despite a 4% increase in volume, with compensation and benefits up 5% due to a $55 million Brakeperson buyout agreement.
Operating revenue was $6.2 billion, up 2% year-over-year, while freight revenue set a second quarter record at $5.8 billion, increasing 4%.
Reported operating income grew to $2.5 billion, a second quarter record, and net income totaled $1.9 billion.
Union Pacific reported second quarter 2025 earnings per share of $3.15, with adjusted EPS of $3.03 excluding unusual items, up 12% versus last year's adjusted results.
Adjusted operating profit was $2.9 billion with an adjusted operating profit margin of 17.6%, both better than expectations despite tariff headwinds.
Adjusted profit per share was $4.72, down from $5.99 in the prior year, excluding restructuring costs of $0.10 per share.
Capital deployment included $1.5 billion returned to shareholders via share repurchases and dividends; net debt was $5.2 billion with enterprise cash balance of $5.4 billion.
Financial Products revenues increased 4% to approximately $1.0 billion with segment profit up 9% to $248 million.
ME&T free cash flow was about $2.4 billion, slightly lower than prior year due to higher CapEx spend.
Second quarter sales and revenues were $16.6 billion, down 1% year-over-year, primarily due to unfavorable price realization partially offset by higher sales volume and financial products revenue growth.
Segment performance: Construction Industries sales decreased 7% to $6.2 billion with a 20.1% margin; Resource Industries sales decreased 4% to $3.1 billion with a 17.4% margin; Energy & Transportation sales increased 7% to $7.8 billion with a 20.2% margin.
Dafinchi