Q2 2025 Financial Performance - Net sales decreased by 48% to $2096 million compared to Q2 2024[10, 22] - Adjusted operating income decreased by 209% to $228 million, with the adjusted operating income margin decreasing by 220 basis points to 109%[10, 22] - Adjusted net income decreased by 215% to $114 million, and diluted EPS decreased by 205% to $031[10] - The company generated strong free cash flow of $247 million, an increase of $148 million from the previous year[10] Segment Results - Material Handling net sales decreased by 44% to $1586 million, and adjusted operating income decreased by 109% to $289 million[31] - Distribution net sales decreased by 60% to $510 million, and adjusted operating income decreased by 444% to $16 million[33] Strategic Initiatives and Outlook - The company is launching a strategic review of Myers Tire Supply (MTS), which represents $189 million in sales over the last twelve months (LTM)[13] - The company is consolidating rotational molding production capacity by idling two of nine facilities, expecting at least $3 million in annual savings[15] - The company is tracking to achieve $20 million in cost savings by the end of 2025, primarily in SG&A[15, 41] - The company maintains a capital expenditure target of 3% of sales, focusing on high-growth opportunities[16, 39]

Financial Performance - Net sales were $206.8 million, a slight decrease of 0.2% year-over-year[8, 28] - Gross profit increased by 7.5% to $69.1 million[8] - Adjusted operating income increased by 12.2% to $18.7 million[8, 28] - Adjusted net income increased by 5.5% to $8.4 million[8] - Diluted adjusted EPS increased by 4.8% to $0.22[8, 28] - Free cash flow was $2.0 million in Q1[42] Segment Results - Material Handling net sales increased by 3.6% to $157.7 million[37] - Distribution net sales decreased by 10.3% to $49.2 million[39] Strategic Initiatives - The company is targeting $20 million in annualized cost savings by year-end 2025, primarily in SG&A[13, 49] - The company repurchased $1 million in shares in Q1 as part of a $10 million share repurchase authorization[13, 46]