Strong Free Cash Flow
The company generated robust free cash flow of approximately $60 million, which aligns with previous guidance and demonstrates consistent cash generation capabilities.
Improved Gross Margin
Gross margin increased by 200 basis points to 36.1% compared to 34.1% in the same year-ago quarter, driven by cost control initiatives and improved efficiencies.
Successful Debt Management and Liquidity Position
Net debt decreased by $33 million over the year, showing strong debt management. The company has approximately $410 million in liquidity, including cash and credit availability.
Resilient Residential and Infrastructure Markets
The residential end market remained resilient at 33% of total revenue, and infrastructure markets showed slight year-over-year growth.
Strategic Capital Allocation
The company issued a special dividend of $1 per share and repurchased approximately 296,000 shares for $1.9 million, reflecting a strategic approach to capital allocation.