Swisslog Healthcare Welcomes New Global Head of People & Organization
In her new role, Stary will develop and execute people-centric strategies that support business growth, enhance organizational effectiveness, and drive a culture of engagement and inclusion. She will leverage her extensive experience in executive consulting, talent management, and leadership development to strengthen Swisslog Healthcare's workforce.
"Swisslog Healthcare's mission to shape the future of healthcare automation aligns with my passion for developing high-performing teams," said Sarah Stary, Global Head of People & Organization at Swisslog Healthcare. "My focus will be on creating an environment where our talented workforce can innovate and deliver exceptional value to our customers and patients worldwide."
'I am excited to welcome Sarah on board. Her proven track record of building high-performing teams and cultures in global organizations combined with her strategic mindset, will be invaluable to our organization as we continue to grow and evolve. We look forward to her leadership in shaping our people strategy for the future,' said Cory Kwarta, CEO of Swisslog Healthcare.
Prior to joining Swisslog Healthcare, Stary served as Human Resources Director EMEA at Trina Solar AG, where she led strategic HR initiatives across Europe, the Middle East, and Africa. She successfully managed mergers & acquisitions integrations, HR system implementations, and compliance management, aligning with global business objectives.
Stary holds an Executive MBA from IE Business School, a Master's in Strategic HR Management from Bocconi University, and certifications in Coaching and Organizational Effectiveness from the University of Cambridge. Sarah is multi-lingual as she is fluent in German, English, and Spanish, and has intermediate skills in French, Mandarin, and some basic Italian.
About Swisslog Healthcare:
Swisslog Healthcare provides pharmacy workflow automations through robotic solutions and operational technology that enable hospitals and health systems to assist providers in treating patients across the continuum of care. Integrating transport and pharmacy automation, value-added services, and intelligent software, Swisslog Healthcare enables healthcare providers to respond to patients' needs quickly and with greater accuracy. The company minimizes many sources of operational waste, so providers achieve higher levels of productivity to impact the well-being of patients in positive ways. For more information, visit www.swisslog-healthcare.com.
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StandardAero Announces Second Quarter Results
Strong first half of year, gives confidence for another FY2025 Guidance raise SCOTTSDALE, Ariz., August 13, 2025--(BUSINESS WIRE)--StandardAero (NYSE: SARO) announced results today for the three months ended June 30, 2025 ("Second Quarter 2025"). Second Quarter 2025 Highlights Revenue increased 13.5% year-over-year to $1,528.9 million Net Income increased $62.3 million year-over-year to $67.7 million; Net Income margin was 4.4%, an increase from 0.4% for the prior year's period Adjusted EBITDA increased 20.1% year-over-year to $204.6 million Adjusted EBITDA Margin was 13.4%, an increase of 80 basis points compared to the prior year's period LEAP bookings now above $1.5 billion with multiple new agreements signed in Second Quarter 2025 "Our strong execution in the second quarter drove continued operational excellence, resulting in solid double-digit revenue growth and further net income margin and adjusted EBITDA margin improvement. Based on our performance through the first half of 2025, we are increasing our full-year financial targets," said Russell Ford, StandardAero's Chairman and Chief Executive Officer. Mr. Ford continued, "The commercial aerospace aftermarket remains robust, and our teams continue to deliver outstanding service to our growing customer base. We've achieved significant milestones in our LEAP engine program, delivering our first engines, expanding our customer relationships and strengthening our market position. Looking ahead, we remain focused on operational efficiency and our strategic growth initiatives, while maintaining the flexibility to adapt to evolving market conditions." Second Quarter 2025 Results StandardAero reported revenue for Second Quarter 2025 of $1,528.9 million, an increase of $181.7 million, or 13.5%, compared to $1,347.2 million for the prior year period. The increase was driven by both the Engine Services and Component Repair Services segments, with continued strength across the commercial aerospace and business aviation end markets, which increased 13.7% and 8.9%, respectively, year-on-year. The military and helicopter end market increased 11.7% compared to the prior year period, driven by the contribution of the Aero Turbine, Inc. ("ATI") acquisition. Net income was $67.7 million for the Second Quarter 2025, as compared to net income of $5.4 million for the prior year period, an increase of $62.3 million. The increase in net income compared to the prior year period primarily reflects a $30.5 million improvement in operating income and $34.2 million in lower interest expense associated with the company's post-IPO capital structure. This resulted in an improved net income margin of 4.4% compared to 0.4% for the prior year period. Adjusted EBITDA increased $34.3 million, or 20.1% to $204.6 million for the Second Quarter 2025, as compared to $170.4 million for the prior year period, with Adjusted EBITDA margin expanding 80 basis points from 12.6% to 13.4% year-on-year. The margin expansion was driven by higher volume, mix, pricing and productivity initiatives at both the Engine Services segment and the Component Repair Services segment, the latter of which also benefited from margin growth at ATI. Net debt, calculated as total funded debt, net of cash and cash equivalents on our balance sheet as of June 30, 2025, was $2,262.5 million compared to $3,266.0 million as of June 30, 2024. Net debt to Adjusted EBITDA for the last twelve months was 3.0x compared to 5.4x at the end of the prior year period. Second Quarter 2025 Segment Results Engine Services Segment Engine Services segment revenue increased $139.2 million, or 11.5%, to $1,350.7 million for the Second Quarter 2025, compared to the prior year period. Notable drivers included robust aftermarket activity across key established platforms and accelerating production ramp on growth programs in commercial aerospace, as well as strong performance in business aviation. Engine Services Segment Adjusted EBITDA increased $24.8 million, or 16.2%, to $178.5 for the Second Quarter 2025, from $153.7 million for the prior year period. Adjusted EBITDA margins in the segment expanded 50 basis points year-on-year from 12.7% to 13.2%, driven by favorable product mix, volume growth, pricing and productivity improvements. Component Repair Services Segment Component Repair Services segment revenue increased $42.5 million, or 31.3%, to $178.3 million for the Second Quarter 2025, compared to the prior year period. The revenue increase was primary attributable to our growth platforms, our Land & Marine business, the contribution of $27.3 million from the ATI acquisition, and robust underlying demand across our served platforms. Component Repair Services Segment Adjusted EBITDA increased $17.1 million, or 49.6%, to $51.6 million for the Second Quarter 2025, from $34.5 million for the prior year period. Adjusted EBITDA margins in the segment expanded 360 basis points year-on-year from 25.4% to 29.0%. This increase reflects continued margin expansion from the ATI acquisition, as well as volume, pricing and favorable mix. Full Year 2025 Guidance "The strength in the demand environment within our three main end-markets, coupled with our better than expected operations in both of our segments, gives us the confidence to once again raise our 2025 guidance, despite continued industry-wide supply chain strains," Mr. Ford said. "This is a result of our pure-play engine aftermarket model, disciplined execution and the growth investments we have been making over the past few years." Mr. Ford continued, "As we ramp up our growth initiatives, including key platform programs and capacity expansion, we expect to see compounding benefits throughout the coming years, driving revenue growth, continued margin expansions, and attractive free cash flow for our business. Our focus remains on delivering consistent, sustainable performance, and we think we are well positioned to achieve our financial targets for 2025." Full Year 2025 ($ in millions) Revenue $5,875 to $6,025 (prior $5,825 to $5,975) Engine Services $5,160 to $5,290 (prior $5,110 to $5,240) Component Repair Services $715 to $735 Adjusted EBITDA $790 to $810 (prior $775 to $795) Segment Adjusted EBITDA Margin Engine Services Segment 13.3% (prior ~13%) Component Repair Services Segment 28.3% (prior ~27%) Includes estimated net tariff impacts $10-$15 (prior $15) Free Cash Flow $155 to $175 Major Platform Expansion Investments Included $90 Effective Tax Rate 26% - 28% End Market Revenue Growth Assumptions Commercial Aerospace Mid-Teens Growth Military & Helicopter High Single Digit Growth Business Aviation High Single Digit Growth Conference Call and Webcast Information StandardAero management will host a conference call today, August 13, 2025, at 5:00 PM ET, to discuss its results in more detail. The conference call will be broadcast live via webcast, and the webcast and accompanying slide presentation can be accessed by visiting the Events section on StandardAero's investor relations website at The conference call may also be accessed by dialing (877) 407-9762 or (201) 689-8538 for telephone access to the live call. Please click here for international toll-free access numbers. For those unable to listen to the live conference call, a replay will be available after the call through the archived webcast in the Events section of the StandardAero's investor relations website or by dialing (877) 660-6853 or (201) 612-7415. The access code for the replay is 13754729. The replay will be available until 11:59 PM ET on August 27, 2025. About StandardAero StandardAero is a leading independent pure-play provider of aerospace engine aftermarket services for fixed and rotary wing aircraft, serving the commercial, military and business aviation end markets. StandardAero provides a comprehensive suite of critical, value-added aftermarket solutions, including engine maintenance, repair and overhaul, engine component repair, on-wing and field service support, asset management and engineering solutions. StandardAero is an NYSE listed company under the ticker symbol SARO. For more information about StandardAero, go to Forward-Looking Statements This press release contains forward-looking statements that involve substantial risks and uncertainties. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 27A of the Securities Act of 1933, as amended (the "Securities Act"). In some cases, you can identify forward-looking statements by the words "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "foreseeable," "future," "intend," "may," "might," "objective," "ongoing," "plan," "potential," "predict," "project," "seek," "should," "will," or "would" and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning, among other things, results of operations for the fiscal year ended December 31, 2025, the net impact from tariffs, financial condition, liquidity, prospects, growth, strategies, the industry in which we operate and other information that is not historical information. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this presentation, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Generally, statements that are not historical facts, including statements concerning our possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. Factors that could cause actual results to differ materially from those forward-looking statements included in this press release include, among others: risks related to conditions that affect the commercial and business aviation industries; decreases in budget, spending or outsourcing by our military end-users; risks from any supply chain disruptions or loss of key suppliers; increased costs of labor, equipment, raw materials, freight and utilities due to inflation; future outbreaks and infectious diseases; risks related to competition in the market in which we participate; loss of an OEM authorization or license; risks related to a significant portion of our revenue being derived from a small number of customers; our ability to remediate effectively the material weaknesses identified in our internal control over financial reporting; our ability to respond to changes in GAAP; our or our third-party partners' failure to protect confidential information; data security incidents or disruptions to our IT systems and capabilities; our ability to comply with laws relating to the handling of information about individuals; changes to United States tariff and import/export regulations; failure to maintain our regulatory approvals; risks relating to our operations outside of North America; failure to comply with government procurement laws and regulations; any work stoppage, hiring, retention or succession issues with our senior management team and employees; any strains on our resources due to the requirements of being a public company; risks related to our indebtedness; our success at managing the risks of the foregoing, and the other factors described in our Annual Report on Form 10-K for the year ended December 31, 2024 and our other filings with the SEC. As a result of these factors, we cannot assure you that the forward-looking statements in this press release will prove to be accurate. You should understand that it is not possible to predict or identify all such factors. We operate in a competitive and rapidly changing environment. New factors emerge from time to time, and it is not possible to predict the impact of all of these factors on our business, financial condition or results of operations. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives, plans or cost savings in any specified time frame or at all. In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate, are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods. We caution you not to place undue reliance on these forward-looking statements. All forward looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. Forward-looking statements speak only as of the date of this press release. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data. Non-GAAP Financial Measures This press release includes "non-GAAP financial measures," which are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with accounting principles generally accepted in the United States ("GAAP"), including Adjusted EBITDA, Adjusted EBITDA Margin, Net Debt to Adjusted EBITDA, and Free Cash Flow. We use these non-GAAP financial measures to evaluate our business operations. Certain of the non-GAAP financial measures presented in this press release are supplemental measures of our performance, in the case of Adjusted EBITDA and Adjusted EBITDA Margin, that we believe help investors understand our financial condition and operating results and assess our future prospects. We believe that presenting these non-GAAP financial measures, in addition to the corresponding GAAP financial measures, are important supplemental measures that exclude non-cash or other items that may not be indicative of or are unrelated to our core operating results and the overall health of our company. We believe that these non-GAAP financial measures provide investors greater transparency to the information used by management for its operational decision-making and allow investors to see our results "through the eyes of management." We further believe that providing this information assists our investors in understanding our operating performance and the methodology used by management to evaluate and measure such performance. We also present Net Debt to Adjusted EBITDA and Free Cash Flow, which are liquidity measures, that we believe are useful to investors because it is also used by our management for measuring our operating cash flow, liquidity and allocating resources. We believe it is important to measure the free cash flows we have generated from operations, after accounting for routine capital expenditures required to generate those cash flows. When read in conjunction with our GAAP results, these non-GAAP financial measures provide a baseline for analyzing trends in our underlying businesses and can be used by management as one basis for financial, operational and planning decisions. Finally, these measures are often used by analysts and other interested parties to evaluate companies in our industry. We define Adjusted EBITDA as net income (loss) before interest expense, income tax expense (benefit), depreciation and amortization, further adjusted for certain non-cash items that we may record each period, as well as non-recurring items such as acquisition costs, integration and severance costs, refinance fees, business transformation costs and other discrete expenses, when applicable. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. We believe that Adjusted EBITDA and Adjusted EBITDA Margin are important metrics for management and investors as they remove the impact of items that we do not believe are indicative of our core operating results or the overall health of our company and allows for consistent comparison of our operating results over time and relative to our peers. We define Net Debt to Adjusted EBITDA as long-term debt, less cash and cash equivalents divided by Adjusted EBITDA. We define free cash flow as cash from operating activities less capital expenditures. Management recognizes that these non-GAAP financial measures have limitations, including that they may be calculated differently by other companies or may be used under different circumstances or for different purposes, thereby affecting their comparability from company to company. In order to compensate for these and the other limitations discussed below, management does not consider these measures in isolation from or as alternatives to the comparable financial measures determined in accordance with GAAP. Readers should review the reconciliations of our non-GAAP financial measures to the corresponding GAAP measures included in this press release and should not rely on any single financial measure to evaluate our business. We have presented forward-looking statements regarding Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow. These non-GAAP financial measures are derived by excluding certain amounts, expenses or income, from the corresponding financial measure determined in accordance with GAAP. The determination of the amounts that are excluded from this non-GAAP financial measure is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income amounts recognized in a given period in reliance on the exception provided by item 10(e)(1)(i)(B) of Regulation S-K. We are unable to present a quantitative reconciliation of each forward-looking Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow to its most directly comparable forward looking GAAP financial measure because such information is not available, and management cannot reliably predict all of the necessary components of such GAAP measure without unreasonable effort or expense. In addition, we believe such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on the company's future financial results. These non-GAAP financial measures are preliminary estimates and subject to risks and uncertainties, including, among others, changes in connection with quarter-end and year-end adjustments. Any variation between the company's actual results and preliminary financial data set forth above may be material. STANDARDAERO, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (In thousands, except share figures) June 30, December 31. 2025 2024 ASSETS Current assets: Cash $ 91,513 $ 102,581 Accounts receivable (less allowance for expected credit losses of $15,020 and $15,455, respectively) 677,257 580,668 Contract assets, net 1,070,834 915,200 Inventories 851,597 847,018 Prepaid expenses and other current assets 56,759 29,707 Income tax receivable 21,054 9,960 Total current assets 2,769,014 2,485,134 Property, plant and equipment, net 575,560 568,607 Operating lease right of use asset, net 217,660 172,206 Customer relationships, net 962,913 1,004,701 Other intangible assets, net 268,275 291,487 Goodwill 1,684,287 1,685,970 Other assets 3,923 4,417 Deferred income tax assets 1,079 1,079 Total assets $ 6,482,711 $ 6,213,601 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 643,728 $ 645,701 Accrued expenses and other current liabilities 102,201 99,572 Accrued employee costs 72,876 79,134 Operating lease liabilities, current 19,777 17,663 Due to related parties 696 1,345 Contract liabilities 420,229 400,025 Income taxes payable, current 2,259 6,655 Long-term debt, current portion 23,461 23,449 Total current liabilities 1,285,227 1,273,544 Long-term debt 2,295,131 2,207,977 Operating lease liabilities, non-current 208,395 164,224 Deferred income tax liabilities 159,791 169,824 Other non-current liabilities 20,884 24,628 Total liabilities 3,969,428 3,840,197 Commitments and contingencies (Note 11) Stockholders' equity Common stock ($0.01 par value, 3,500,000,000 shares authorized; 334,470,264 and 334,461,630 shares issued and outstanding as of June 30, 2025 and December 31, 2024) 3,345 3,345 Preferred stock ($0.01 par value, 100,000,000 shares authorized; no shares were issued) — — Additional paid-in capital 3,950,677 3,944,802 Accumulated deficit (1,432,665 ) (1,563,321 ) Accumulated other comprehensive loss (8,074 ) (11,422 ) Total stockholders' equity 2,513,283 2,373,404 Total liabilities and stockholders' equity $ 6,482,711 $ 6,213,601 STANDARDAERO, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (In thousands, except per share figures) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue $ 1,528,943 $ 1,347,198 $ 2,964,531 $ 2,582,921 Cost of revenue 1,292,768 1,162,592 2,510,626 2,216,904 Selling, general and administrative expense 76,002 56,236 140,477 108,848 Amortization of intangible assets 24,603 23,293 48,935 46,585 Operating income 135,570 105,077 264,493 210,584 Interest expense 43,835 78,051 87,626 155,599 Refinancing costs — 655 — 4,938 Loss on debt extinguishment — — — 3,577 Income before income taxes 91,735 26,371 176,867 46,470 Income tax expense 24,022 20,967 46,211 37,879 Net income $ 67,713 $ 5,404 $ 130,656 $ 8,591 Earnings per share: Basic $ 0.21 $ 0.02 $ 0.40 $ 0.03 Diluted $ 0.20 $ 0.02 $ 0.39 $ 0.03 Weighted-average common shares outstanding Basic 328,445 275,175 328,442 275,175 Diluted 334,300 275,175 334,227 275,175 STANDARDAERO, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (In thousands) Six Months Ended June 30, 2025 2024 Operating activities Net income $ 130,656 $ 8,591 Adjustments to reconcile net loss from operations to net cash provided by operating activities: Depreciation and amortization 97,223 92,876 Amortization of deferred finance charges and discounts 3,288 6,745 Amortization of loss on derivative instruments — (303 ) Amortization of interest cap premiums 5,467 4,652 Payment of interest rate cap premiums (5,524 ) (4,534 ) Stock compensation expense 5,875 — Loss on debt extinguishment — 3,577 Loss (gain) from disposals, net 3,449 (132 ) Non-cash lease expense 866 468 Deferred income taxes (11,560 ) (6,858 ) Foreign exchange loss (gain) 431 (170 ) Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable, net (96,589 ) (16,955 ) Contract assets, net (155,634 ) (6,296 ) Inventories, net (4,579 ) (9,445 ) Prepaid expenses and other current assets (24,422 ) (7,096 ) Accounts payable, accrued expenses and other current liabilities 25,885 9,886 Contract liabilities 20,204 (78,919 ) Due to/from related parties (649 ) 1,225 Income taxes payable and receivable (15,490 ) (15,466 ) Net cash used in operating activities (21,103 ) (18,154 ) Investing activities Acquisitions, net of cash and other 1,254 — Purchase of property, plant and equipment (47,262 ) (45,101 ) Payments for purchase of intangible assets (30,000 ) (214 ) Proceeds from disposal of property, plant and equipment 3,637 539 Net cash used in investing activities (72,371 ) (44,776 ) Financing activities Proceeds from long-term debt 345,000 435,969 Repayment of long-term debt (261,785 ) (368,380 ) Payment of deferred financing charges — (392 ) Repayments of long-term agreements (1,501 ) (1,285 ) Net cash provided by financing activities 81,714 65,912 Effect of exchange rate changes on cash 692 (690 ) Net (decrease) increase in cash (11,068 ) 2,292 Cash at beginning of the period 102,581 57,982 Cash at end of the period $ 91,513 $ 60,274 Supplemental cash flow information: Supplemental disclosure of non-cash investing activities: Acquisition of property, plant and equipment, liability incurred, but not paid $ 839 $ 993 Acquisition of intangible assets, liability incurred but not paid — 261 Selected financial information for each segment is as follows: Three months ended June 30, 2025 EngineServices ComponentRepair Services TotalSegments (in thousands) Revenue from external customers $ 1,373,701 $ 155,242 $ 1,528,943 Intersegment revenue (23,024 ) 23,024 - Total segment revenue 1,350,677 178,266 1,528,943 Other segment items (1) 1,172,168 126,626 1,298,794 Segment Adjusted EBITDA $ 178,509 $ 51,640 $ 230,149 Corporate (2) 25,512 Depreciation and amortization 48,547 Interest expense 43,835 Business transformation costs (LEAP and CFM) (3) 5,264 Non-cash stock compensation expense 3,830 Integration costs and severance (4) 1,360 Other (5) 10,066 Profit before tax $ 91,735 _________________ (1) Other segment items for each reportable segment primarily includes cost of sales and other selling general and administrative expenses. (2) Corporate primarily consists of costs related to executive and staff functions, including Information Technology, Human Resources, Legal, Finance, Marketing, Corporate Supply Chain and Corporate Engineering Services finance, which benefit the enterprise as a whole. These costs are primarily related to the general management of these functions on a corporate level and the design and development of programs, policies, and procedures that are then implemented in the individual segments, with each segment bearing its own cost of implementation. The Corporate function also includes expenses associated with the Company's debt. (3) Represents new product industrialization costs with the business transformation of the LEAP 1A/1B engine line in San Antonio, Texas and the expansion of our CFM56 capabilities into Dallas, Texas. (4) Represents integration costs incurred, including any facility or platform consolidation associated with the integration of an acquisition that does not meet capitalization criteria and severance related to reduction in workforce or acquisitions. Examples of integration costs may include lease breakage or run-off fees, consulting costs, demolition costs or training costs. (5) Represents professional fees related to business transformation, secondary offering costs and quarterly management fees payable to Carlyle Investment Management L.L.C. and Beamer Investment Inc. under consulting services agreements, representation and warranty insurance costs associated with acquisitions, that are the result of other, non-comparable events to measure operating performance as these events arise outside of the Company's ordinary course of continuing operations. Six months ended June 30, 2025 EngineServices ComponentRepair Services TotalSegments (in thousands) Revenue from external customers $ 2,659,977 $ 304,554 $ 2,964,531 Intersegment revenue (40,987 ) 40,987 — Total segment revenue 2,618,990 345,541 2,964,531 Other segment items (1) 2,266,472 246,540 2,513,012 Segment Adjusted EBITDA $ 352,518 $ 99,001 $ 451,519 Corporate (2) 48,655 Depreciation and amortization 97,223 Interest expense 87,626 Business transformation costs (LEAP and CFM) (3) 18,181 Non-cash stock compensation expense 5,875 Integration costs and severance (4) 2,740 Other (5) 14,352 Profit before tax 176,867 _________________ (1) Other segment items for each reportable segment primarily includes cost of sales and other selling general and administrative expenses. (2) Corporate primarily consists of costs related to executive and staff functions, including Information Technology, Human Resources, Legal, Finance, Marketing, Corporate Supply Chain and Corporate Engineering Services finance, which benefit the enterprise as a whole. These costs are primarily related to the general management of these functions on a corporate level and the design and development of programs, policies, and procedures that are then implemented in the individual segments, with each segment bearing its own cost of implementation. The Corporate function also includes expenses associated with the Company's debt. (3) Represents new product industrialization costs with the business transformation of the LEAP 1A/1B engine line in San Antonio, Texas and the expansion of the Company's CFM56 capabilities into Dallas, Texas. (4) Represents integration costs incurred, including any facility or platform consolidation associated with the integration of an acquisition that does not meet capitalization criteria and severance related to reduction in workforce or acquisitions. Examples of integration costs may include lease breakage or run-off fees, consulting costs, demolition costs or training costs. (5) Represents professional fees related to business transformation, secondary offering costs and quarterly management fees payable to Carlyle Investment Management L.L.C. and Beamer Investment Inc. under consulting services agreements, representation and warranty insurance costs associated with acquisitions, that are the result of other, non-comparable events to measure operating performance as these events arise outside of the Company's ordinary course of continuing operations. Three months ended June 30, 2024 EngineServices ComponentRepair Services TotalSegments (in thousands) Revenue from external customers $ 1,226,658 $ 120,540 $ 1,347,198 Intersegment revenue (15,197 ) 15,197 — Total segment revenue 1,211,461 135,737 1,347,198 Other segment items (1) 1,057,774 101,209 1,158,983 Segment Adjusted EBITDA $ 153,687 $ 34,528 $ 188,215 Corporate (2) 17,833 Depreciation and amortization 45,499 Interest expense 78,051 Business transformation costs (LEAP and CFM) (3) 12,847 Refinancing costs 655 Integration costs and severance (4) 327 Other (5) 6,632 Profit before tax $ 26,371 _________________ (1) Other segment items for each reportable segment primarily includes cost of sales and other selling general and administrative expenses. (2) Corporate primarily consists of costs related to executive and staff functions, including Information Technology, Human Resources, Legal, Finance, Marketing, Corporate Supply Chain and Corporate Engineering Services finance, which benefit the enterprise as a whole. These costs are primarily related to the general management of these functions on a corporate level and the design and development of programs, policies, and procedures that are then implemented in the individual segments, with each segment bearing its own cost of implementation. The Corporate function also includes expenses associated with the Company's debt. (3) Represents new product industrialization costs with the business transformation of the LEAP 1A/1B engine line in San Antonio, Texas and the expansion of the Company's CFM56 capabilities into Dallas, Texas. (4) Represents integration costs incurred, including any facility or platform consolidation associated with the integration of an acquisition that does not meet capitalization criteria and severance related to reduction in workforce or acquisitions. Examples of integration costs may include lease breakage or run-off fees, consulting costs, demolition costs or training costs. (5) Represents professional fees related to business transformation, secondary offering costs and quarterly management fees payable to Carlyle Investment Management L.L.C. and Beamer Investment Inc. under consulting services agreements, representation and warranty insurance costs associated with acquisitions, that are the result of other, non-comparable events to measure operating performance as these events arise outside of the Company's ordinary course of continuing operations. Six months ended June 30, 2024 EngineServices ComponentRepair Services TotalSegments (in thousands) Revenue from external customers $ 2,338,377 $ 244,544 $ 2,582,921 Intersegment revenue (29,524 ) 29,524 — Total segment revenue 2,308,853 274,068 2,582,921 Other segment items (1) 2,005,172 203,758 2,208,930 Segment Adjusted EBITDA $ 303,681 $ 70,310 $ 373,991 Corporate (2) 38,041 Depreciation and amortization 92,876 Interest expense 155,599 Business transformation costs (LEAP and CFM) (3) 23,091 Refinancing costs 4,938 Loss on debt extinguishment 3,577 Integration costs and severance (4) 617 Other (5) 8,782 Profit before tax $ 46,470 _________________ (1) Other segment items for each reportable segment primarily includes cost of sales and other selling general and administrative expenses. (2) Corporate primarily consists of costs related to executive and staff functions, including Information Technology, Human Resources, Legal, Finance, Marketing, Corporate Supply Chain and Corporate Engineering Services finance, which benefit the enterprise as a whole. These costs are primarily related to the general management of these functions on a corporate level and the design and development of programs, policies, and procedures that are then implemented in the individual segments, with each segment bearing its own cost of implementation. The Corporate function also includes expenses associated with the Company's debt. (3) Represents new product industrialization costs with the business transformation of the LEAP 1A/1B engine line in San Antonio, Texas and the expansion of the Company's CFM56 capabilities into Dallas, Texas. (4) Represents integration costs incurred, including any facility or platform consolidation associated with the integration of an acquisition that does not meet capitalization criteria and severance related to reduction in workforce or acquisitions. Examples of integration costs may include lease breakage or run-off fees, consulting costs, demolition costs or training costs. (5) Represents quarterly management fees payable to Carlyle Investment Management L.L.C. and Beamer Investment Inc. under consulting services agreements, representation and warranty insurance costs associated with acquisitions, that are the result of other, non-comparable events to measure operating performance as these events arise outside of the Company's ordinary course of continuing operations. The following table presents a reconciliation of net income and net income margin to Adjusted EBITDA and Adjusted EBITDA Margin, respectively: Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (in thousands, except percentages) Net income $ 67,713 $ 5,404 $ 130,656 $ 8,591 Income tax expense 24,022 20,967 46,211 37,879 Depreciation and amortization 48,547 45,499 97,223 92,876 Interest expense 43,835 78,051 87,626 155,599 Business transformation costs (LEAP and CFM) (1) 5,264 12,847 18,181 23,091 Refinancing costs — 655 — 4,938 Loss on debt extinguishment — — — 3,577 Non-cash stock compensation expense 3,830 — 5,875 — Integration costs and severance (2) 1,360 327 2,740 617 Secondary offering costs 3,860 — 3,860 — Other (3) 6,206 6,632 10,492 8,782 Adjusted EBITDA $ 204,637 $ 170,382 $ 402,864 $ 335,950 Revenue $ 1,528,943 $ 1,347,198 $ 2,964,531 $ 2,582,921 Net income margin 4.4 % 0.4 % 4.4 % 0.3 % Adjusted EBITDA Margin 13.4 % 12.6 % 13.6 % 13.0 % _________________ (1) Represents new product industrialization costs with the business transformation of the LEAP 1A/1B engine line in San Antonio, Texas and the expansion of the Company's CFM56 capabilities into Dallas, Texas. (2) Represents integration costs incurred, including any facility or platform consolidation associated with the integration of an acquisition that does not meet capitalization criteria and severance related to reduction in workforce or acquisitions. Examples of integration costs may include lease breakage or run-off fees, consulting costs, demolition costs or training costs. (3) Represents other non-recurring costs including professional fees related to business transformation and quarterly management fees payable to Carlyle Investment Management L.L.C. and Beamer Investment Inc. under consulting services agreements, representation and warranty insurance costs associated with acquisitions, and other non-comparable events to measure operating performance as these events arise outside of the Company's ordinary course of continuing operations. The following table presents a reconciliation of Debt to Net Debt and Net Debt to Adjusted EBITDA: June 30, June 30, 2025 2024 (in millions, except percentages) New 2024 Term Loan Facilities $ 2,238.8 $ — New 2024 Revolving Credit Facility 95.0 — Prior 2024 Term Loan Facilities — 2,755.2 Prior ABL Credit Facility — 75.0 Prior Senior Notes — 475.5 Finance leases 19.1 19.3 Other 1.1 1.3 Debt 2,354.0 3,326.3 Less Cash 91.5 60.3 Net Debt $ 2,262.5 $ 3,266.0 LTM Adjusted EBITDA $ 757.4 $ 605.4 Net Debt to Adjusted EBITDA 3.0x 5.4x The following table presents revenue by segment, Segment Adjusted EBITDA and Segment Adjusted EBITDA Margin: Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (in thousands, except percentages) Engine Services Segment Revenue $ 1,350,677 $ 1,211,461 $ 2,618,990 $ 2,308,853 Segment Adjusted EBITDA $ 178,509 $ 153,687 $ 352,518 $ 303,681 Segment Adjusted EBITDA Margin 13.2 % 12.7 % 13.5 % 13.2 % Component Repair Services Segment Revenue $ 178,266 $ 135,737 $ 345,541 $ 274,068 Segment Adjusted EBITDA $ 51,640 $ 34,528 $ 99,001 $ 70,310 Segment Adjusted EBITDA Margin 29.0 % 25.4 % 28.7 % 25.7 % The following table presents a reconciliation of Cash Flow from Operations to Free Cash Flow: Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (in millions) Cash Flow from Operations $ 2.9 $ 65.4 $ (21.1 ) $ (18.2 ) Purchase of Property, Plant and Equipment (22.0 ) (26.6 ) (47.3 ) $ (45.1 ) Purchase of Intangible Assets (15.0 ) (0.2 ) (30.0 ) $ (0.2 ) Proceeds from Disposal of Property, Plant and Equipment 3.3 — 3.6 $ 0.5 (-) Total Capital Expenditures (33.7 ) (26.8 ) (73.7 ) $ (44.8 ) Free Cash Flow $ (30.8 ) $ 38.6 $ (94.8 ) $ (63.0 ) View source version on Contacts Investor Relations Contact Investors@ Rama Bondada Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
an hour ago
- Business Wire
Wellness Innercell Expands into Indonesian Home Shopping Market with Joint Care
CHANGWON, South Korea--(BUSINESS WIRE)-- Wellness Innercell, a cosmetics manufacturer and distributor of health functional food, announced that it will launch its flagship health supplement product, 'Joint Care,' on Indonesian home shopping channels starting this October. 'In addition to our ongoing exports to the U.S., we will focus on pioneering new markets in Southeast Asia, starting with Indonesia in the second half of this year.' Share According to the company, Joint Care addresses the side effects and cost burden often associated with conventional joint supplements. It helps relieve joint pain while supporting cartilage protection, nerve and muscle health, dental care, bone density improvement, enhanced physical performance, immune system function, and energy production. Certified by the Korean Ministry of Food and Drug Safety as a health functional food, it contains key active ingredients at the maximum daily allowable dosage and includes probiotics to promote digestive health. Leveraging a multi-formula technology, Joint Care combines a variety of functional ingredients into a single all-in-one tablet, offered in convenient PTP (Press-Through Package) form for easy carrying and consumption. 'In addition to our ongoing exports to the U.S., we will focus on pioneering new markets in Southeast Asia, starting with Indonesia in the second half of this year,' said Kang Ik-geun, CEO of Wellness Innercell. About Wellness Innercell Wellness Innercell is a Korea-based manufacturer and distributor specializing in cosmetics and health functional foods, dedicated to delivering innovative, science-backed solutions for better living. Leveraging advanced formulation technology and strict quality standards, Wellness Innercell aims to expand its global presence and provide trusted health products to consumers worldwide.
Business Wire
2 hours ago
- Business Wire
AIN Investors Have Opportunity to Join Albany International Corp. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Albany International Corp. ('Albany' or 'the Company') (NYSE: AIN) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Albany reported its Q2 2025 financial results on July 30, 2025. The Company reported non-GAAP earnings per share that significantly missed consensus estimates. The Company's President and CEO said its earnings "lagged our expectations," blaming "certain timing and operational issues.' Based on this news, shares of Albany fell by more than 23.6% on the next day. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
