logo
Bill McKibben says 'liberals spreading misinformation' on solar project south of Santa Fe

Bill McKibben says 'liberals spreading misinformation' on solar project south of Santa Fe

Yahoo13-05-2025
Bill McKibben, a noted environmentalist known for penning a pioneering book on climate change in the 1980s, has weighed in on the white-hot debate over Rancho Viejo Solar, the large renewable energy and battery storage development proposed south of Santa Fe.
McKibben, who lives in Vermont but visited the City Different last fall, had an opinion piece published Sunday in The Santa Fe New Mexican outlining his support for the project and sounding off on its vocal opponents who cite concerns about fire risks and the potential effects on property values.
"Imagine my surprise to hear that an outspoken minority has emerged in Santa Fe opposing plans for a large-scale solar array, one capable of supplying a large part of the town's energy needs," he wrote. "In the rest of the country, opposition to renewable energy has come largely from the fossil fuel industry. But in Santa Fe, it's actually liberals spreading misinformation and working against the interests of their neighbors."
The project proposed by energy giant AES Corp. has drawn concerns about the risks of runaway fires from lithium battery storage, particularly from residents of the Eldorado area who maintain the facility would affect their property values. Some of them decried McKibben's piece and doubled down on their concerns.
Camilla Brom, a Rancho San Marcos resident who started a grassroots group called New Mexicans for Responsible Renewable Energy in opposition to AES' plans, called McKibben's opinion piece "offensive."
"It seems like it's turning into a smear campaign," Brom said, adding,"I am not a liberal, and I am only working in the best interest of the community."
She added, "We're in a fire-risk zone, so why put anything in this zone that would increase the chance of a fire even more — and so close to thousands of people? In my opinion, it's very irresponsible."
RanchoViejoSolar.png
The proposed Ranch Viejo Solar project.
AES is seeking a conditional use permit from Santa Fe County to build its solar array and battery facility on 680 acres of an 800-acre parcel about three miles south of Santa Fe. Once completed, Rancho Viejo Solar could generate 96 megawatts of power and roughly 45 megawatts of battery storage — enough electricity to carry the city's residential load, AES officials have said.
Proponents have said it could play a major role in the state's efforts to curb climate change and argue the project is a safe one. Supporters and representatives of AES also argue new technology dramatically reduces risks posed by such facilities.
'Deep need'
McKibben said in an interview locally and regionally organized opposition to renewable energy projects is not unique to Santa Fe County — he has encountered the dynamic elsewhere, including in Vermont.
"The comparative weight of risk here is enormously on the side of acting, of building out renewable energy fast," McKibben said. "I think that the risk to the entire world, but also in particular the risk to the Southwest United States, by far the deepest risk comes in rapid alterations in the planet's climate. Those are the fires that y'all are dealing with already and will get steadily worse."
McKibben was the special guest at a Santa Fe Conservation Trust fundraiser in September. He also spoke to students at some local high schools, he said.
He believes threats posed by climate change present an urgent call to action and stresses a "deep need to say yes in my backyard" — which also is the title of an article he published in the magazine Mother Jones in 2023.
"I think that's particularly true for people like me: affluent, older, white Americans, the kind of people who are really good at stopping projects with lawsuits and whatever else," McKibben said. "I think it's really time for us to step back a little bit and say, 'There's got to be some change made here on this planet for those who come after us.'"
He has written 20 books, according to his website, and his work appears regularly in periodicals from The New Yorker to Rolling Stone.
020325_GC_RanchoViejoSolar01rgb.jpg (copy) (copy)
Joshua Mayer, senior development manager for AES, speaks before the Santa Fe County Planning Commission during a presentation in February about the proposed Rancho Viejo Solar project. The commission voted in favor of AES' permit request for the project.
'Dangerous facility'
The Clean Energy Coalition of Santa Fe County, a group with more than 1,000 members who oppose the project, recently noted in an email to members and the community it has raised about $24,500 to fight the solar and battery storage project. Voicing staunch and spirited opposition, coalition members have packed meeting rooms for county land use hearings on the matter.
The county Planning Commission signed off on the project Feb. 4. Recently, the organization said it filed an official appeal of the Planning Commission's decision, meaning the County Commission will hear the matter sometime this summer.
"You don't put a potentially dangerous facility ... here in the middle of three communities three miles south of a major population center in the state of New Mexico," Lee Zlotoff, president of the Clean Energy Coalition, said in a previous interview.
The project's most outspoken detractors, in deep blue Santa Fe County, maintain they support the transition to clean energy but have concerns about AES and the project, in large part due to past fires at AES facilities. One ignited at a facility in Chandler, Ariz., in spring 2022.
Earlier this year, a blaze that sparked at a solar battery storage plant in Northern California ignited fresh debate in Santa Fe County over Rancho Viejo Solar.
Project supporters maintain battery storage has undergone an evolution in recent years, becoming safer through intensified testing standards and technological advancements. They also argue the project proposed by AES differs in its design from the facility that burned Jan. 16 in California.
McKibben's article pointed out the local project would have "fire suppression technology."
Brom, however, drew a distinction between fire suppression and "fire extinguishing" technology.
"This suppression system, if they don't suppress the overheating in the first cell that overheats, it overheats the other cells and then propagates a thermal runaway fire," she said.
Randy Coleman, the vice president of the Clean Energy Coalition, said he feels there are alternatives to a large-scale projects like Rancho Viejo Solar. What's more, he believes Santa Fe County does not have the planning in place to deal with such a facility.
"The county is just not doing its duty to look at the risks and plan," Coleman said. "If the county had a plan for renewable energy, then they would see that, from a holistic perspective, there are far better things that they could be doing."
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Why AES Stock Popped Today
Why AES Stock Popped Today

Yahoo

time12 hours ago

  • Yahoo

Why AES Stock Popped Today

Key Points Electric utility AES beat on earnings but missed on sales last night. The electric utility reported positive adjusted profits -- but a GAAP loss for Q2. AES pays a great dividend and will probably grow fast enough to justify its share price. 10 stocks we like better than The AES Corporation › Electric utility stock The AES Corporation (NYSE: AES) is continuing to bob and weave, eluding the market downturn that's hit so many other stocks today. And what is AES's secret? Earnings. AES beat forecast earnings last night, earning $0.51 per share instead of the forecast $0.40 (although it missed on revenue, which was only $2.9 billion). Shares of AES were up more than 6% at one point today, and they're hanging on to a slim 1.2% gain as of 1:55 p.m. ET. AES Q2 earnings Not all the news is good, however, and there may be reasons for AES to continue retreating -- beyond the obvious: "Trump raised tariffs again." Digging into the report, it turns out that while AES delivered better-than-expected adjusted (i.e., non-GAAP) earnings, its results according to generally accepted accounting principles showed a $0.15-per-share loss. Management blamed the bulk of the loss on "sales type leases at AES Clean Energy Development." The company also noted that everything from "lower margins from the Energy Infrastructure Strategic Business Unit" to "monetization of the Warrior Run coal plant PPA" weighed on results. The short answer, though, is that AES lost money in the quarter. That's not good news. Should you buy AES stock? Also less than good is the fact that AES couched its forward guidance in similarly flexible "adjusted earnings" terms. AES says it will probably earn $2.10 to $2.26 this year. Analysts polled by S&P Global Market Intelligence, however, think that will translate into no more than $1.69 per share in GAAP earnings. Still, with AES stock costing only $13 today, that works out to a P/E ratio of less than 8. For a 5.4% dividend payer with a projected 8% long-term growth rate, that's probably cheap enough to buy. Should you buy stock in The AES Corporation right now? Before you buy stock in The AES Corporation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and The AES Corporation wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $625,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,090,257!* Now, it's worth noting Stock Advisor's total average return is 1,036% — a market-crushing outperformance compared to 181% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why AES Stock Popped Today was originally published by The Motley Fool 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

AES (AES) Q2 Earnings Beat Estimates
AES (AES) Q2 Earnings Beat Estimates

Yahoo

timea day ago

  • Yahoo

AES (AES) Q2 Earnings Beat Estimates

AES (AES) came out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +30.77%. A quarter ago, it was expected that this power company would post earnings of $0.37 per share when it actually produced earnings of $0.27, delivering a surprise of -27.03%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. AES, which belongs to the Zacks Utility - Electric Power industry, posted revenues of $2.86 billion for the quarter ended June 2025, missing the Zacks Consensus Estimate by 13.51%. This compares to year-ago revenues of $2.94 billion. The company has not been able to beat consensus revenue estimates over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. AES shares have added about 1.6% since the beginning of the year versus the S&P 500's gain of 8.2%. What's Next for AES? While AES has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for AES was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.66 on $3.53 billion in revenues for the coming quarter and $2.14 on $12.51 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Utility - Electric Power is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, NRG Energy (NRG), is yet to report results for the quarter ended June 2025. The results are expected to be released on August 6. This power company is expected to post quarterly earnings of $1.54 per share in its upcoming report, which represents a year-over-year change of +4.1%. The consensus EPS estimate for the quarter has been revised 3.1% higher over the last 30 days to the current level. NRG Energy's revenues are expected to be $6.02 billion, down 9.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The AES Corporation (AES) : Free Stock Analysis Report NRG Energy, Inc. (NRG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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

Rogers Corporation Reports Second Quarter 2025 Results
Rogers Corporation Reports Second Quarter 2025 Results

Business Wire

timea day ago

  • Business Wire

Rogers Corporation Reports Second Quarter 2025 Results

CHANDLER, Ariz.--(BUSINESS WIRE)--Rogers Corporation (NYSE:ROG) today announced financial results for the second quarter of 2025. "As anticipated, second quarter sales increased sequentially due to incremental improvements across most end markets,' stated Ali El-Haj, Rogers' Interim President and CEO. "Sales, gross margin and adjusted earnings per share were all within our guidance ranges for the quarter. We also utilized our strong balance sheet to repurchase $28 million of shares in Q2. "Looking ahead to the third quarter we expect further improvement in our results from slightly higher sales and cost reduction measures. Today we also announced further cost savings initiatives targeted to our AES curamik ® business, in response to evolving market conditions. We are intently focused on achieving more significant improvements in the Company's performance over the coming quarters as we improve sales growth with a more agile organization and increased speed of execution." Financial Overview GAAP Results (dollars in millions, except per share amounts) Q2 2025 Q1 2025 Q2 2024 Net Sales $202.8 $190.5 $214.2 Gross Margin 31.6% 29.9% 34.1% Net Income (Loss) $(73.6) $(1.4) $8.1 Diluted Earnings (Loss) Per Share $(4.00) $(0.08) $0.44 Adjusted Earnings Per Diluted Share 1 $0.34 $0.27 $0.69 Adjusted EBITDA 1 $23.9 $19.5 $31.9 Net Cash Provided by Operating Activities $13.7 $11.7 $22.9 Free Cash Flow 1 $5.6 $2.1 $8.8 1 - Adjusted Earnings Per Diluted Share, Adjusted EBITDA and Free Cash Flow are non-GAAP measures. A reconciliation of non-GAAP to GAAP measures is provided in the schedules included below. Expand Q2 2025 Summary of Results Net sales of $202.8 million increased 6.5% versus the prior quarter. Advanced Electronics Solutions (AES) net sales increased by 4.6% primarily related to higher industrial, ADAS and aerospace and defense (A&D) sales, partially offset by lower wireless infrastructure sales. Elastomeric Material Solutions (EMS) net sales increased by 8.2% primarily from stronger industrial, portable electronics and A&D sales. Currency exchange rates favorably affected total company net sales in the second quarter of 2025 by $3.6 million compared to the prior quarter. Restructuring and impairment charges were $76.1 million in the second quarter an increase of $70.2 million from the prior quarter. The higher charges were primarily due to a non-cash goodwill impairment charge of $67.3 million, resulting from the lowered outlook for the curamik ® business in our AES operating segment. GAAP losses per diluted share were $(4.00) compared to losses per diluted share of $(0.08) in the previous quarter. The increased loss was due to the increase in restructuring and impairment charges and higher tax expense. Tax expense increased from the prior quarter related to a $3.8 million valuation allowance recorded against deferred tax assets for certain European jurisdictions. On an adjusted basis, earnings were $0.34 per diluted share compared to earnings of $0.27 per diluted share in the prior quarter. Ending cash and cash equivalents were $157.2 million, a decrease of $18.4 million versus the prior quarter. Net cash provided by operating activities in the second quarter was $13.7 million and capital expenditures were $8.1 million. Share repurchases totaled $28.1 million in the second quarter. Profitability Improvement Initiatives Today the Company announced initiatives to reduce costs in the curamik ® business in the AES operating segment. These adjustments are in response to market conditions and once fully implemented they are expected to reduce manufacturing costs and operating expenses in excess of $13 million on an annual run-rate basis. Total restructuring charges related to these actions are anticipated to be between $12 to $20 million, spread over the next several quarters. Financial Outlook Guidance for the third quarter is based on global tariff policies in place as of July 31, 2025. Rogers has implemented actions that are expected to largely offset the impact of tariffs in the third quarter. Conference Call and Additional Information A conference call to discuss the results for the second quarter will take place today, Thursday, July 31, 2025 at 5:00 pm ET. A live webcast of the event and the accompanying presentation can be accessed on the Rogers Corporation website at About Rogers Corporation Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect and connect our world. Rogers delivers innovative solutions to help our customers solve their toughest material challenges. Rogers' advanced electronic and elastomeric materials are used in applications for EV/HEV, automotive safety and radar systems, mobile devices, renewable energy, wireless infrastructure, energy-efficient motor drives, industrial equipment and more. Headquartered in Chandler, Arizona, Rogers operates manufacturing facilities in the United States (U.S.), Asia and Europe, with sales offices worldwide. Safe Harbor Statement Statements included in this release that are not a description of historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are generally accompanied by words or phrases such as 'anticipate,' 'assume,' 'believe,' 'could,' 'estimate,' 'expect,' 'foresee,' 'goal,' 'intend,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'seek,' 'target' or similar expressions that convey uncertainty as to the future events or outcomes. Forward-looking statements are based on assumptions and beliefs that we believe to be reasonable; however, assumed facts almost always vary from actual results, and the differences between assumed facts and actual results could be material depending upon the circumstances. Where we express an expectation or belief as to future results, that expectation or belief is expressed in good faith and based on assumptions believed to have a reasonable basis. We cannot assure you, however, that the stated expectation or belief will occur or be achieved or accomplished. This release contains forward-looking statements regarding our plans, objectives, outlook, goals, strategies, future events, future net sales or performance, capital expenditures, future restructuring, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, which could cause actual results to differ materially from those indicated by the forward-looking statements. Other risks and uncertainties that could cause such results to differ include the following, without limitation: failure to capitalize on, volatility within, or other adverse changes with respect to our growth drivers, such as delays in adoption or implementation of new technologies; failure to successfully execute on our long-term growth strategy; uncertain business, economic and political conditions in the U.S. and abroad, particularly in China, South Korea, Germany, Belgium, England, and Hungary, where we maintain significant manufacturing, sales or administrative operations; the trade policy dynamics between the U.S. and other countries where we do business, in particular China, as reflected in tariff impositions and associated countermeasures, as well as the potential for U.S.-China supply chain decoupling; fluctuations in foreign currency exchange rates; our ability to develop innovative products and the extent to which they are incorporated into end-user products and systems; the extent to which end-user products and systems incorporating our products achieve commercial success; the ability and willingness of our sole or limited source suppliers to deliver certain key raw materials, including commodities, to us in a timely and cost-effective manner; business interruptions due to catastrophes or other similar events, such as natural disasters, war, terrorism or public health crises; the impact of sanctions, export controls and other foreign asset or investment restrictions; failure to realize, or delays in the realization of anticipated benefits of acquisitions and divestitures due to, among other things, the existence of unknown liabilities or difficulty integrating acquired businesses; our ability to attract and retain management and skilled technical personnel; our ability to protect our proprietary technology from infringement by third parties and/or allegations that our technology infringes third party rights; changes in effective tax rates or tax laws and regulations in the jurisdictions in which we operate; failure to comply with financial and restrictive covenants in our credit agreement or restrictions on our operational and financial flexibility due to such covenants; the outcome of ongoing and future litigation, including our asbestos-related product liability litigation; changes in environmental laws and regulations applicable to our business; and disruptions in, or breaches of, our information technology systems. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on the Company. Our forward-looking statements are expressly qualified by these cautionary statements, which you should consider carefully. For additional information about the risks, uncertainties and other factors that may affect our business, please see our most recent annual report on Form 10-K and any subsequent reports filed with the Securities and Exchange Commission, including quarterly reports on Form 10-Q. Rogers Corporation assumes no responsibility to update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law. Condensed Consolidated Statements of Financial Position (Unaudited) (DOLLARS AND SHARES IN MILLIONS, EXCEPT PAR VALUE) December 31, 2024 Assets Current assets Cash and cash equivalents $ 157.2 $ 159.8 Accounts receivable, net 141.6 135.3 Contract assets 25.4 23.7 Inventories, net 151.2 142.3 Asbestos-related insurance recoverables, current portion 4.3 4.3 Other current assets 20.4 28.5 Total current assets 500.1 493.9 Property, plant and equipment, net of accumulated depreciation of $419.5 and $390.8 382.5 365.1 Operating lease right-of-use assets 23.0 24.1 Goodwill 305.9 357.6 Other intangible assets, net of amortization 105.8 110.3 Asbestos-related insurance recoverables, non-current portion 48.0 48.0 Deferred income taxes 66.0 61.5 Other long-term assets 20.0 20.6 Total assets $ 1,451.3 $ 1,481.1 Liabilities and Shareholders' Equity Current liabilities Accounts payable $ 53.4 $ 48.1 Accrued employee benefits and compensation 44.7 41.5 Accrued income taxes payable 4.5 7.7 Operating lease obligations, current portion 4.2 4.0 Asbestos-related liabilities, current portion 5.4 5.4 Other accrued liabilities 19.7 16.8 Total current liabilities 131.9 123.5 Operating lease obligations, non-current portion 19.5 20.6 Asbestos-related liabilities, non-current portion 51.9 52.1 Non-current income tax 6.0 5.7 Deferred income taxes 19.0 18.0 Other long-term liabilities 16.3 9.6 Shareholders' equity Capital stock - $1 par value; 50.0 authorized shares; 18.1 and 18.5 shares issued and outstanding 18.1 18.5 Additional paid-in capital 126.4 147.3 Retained earnings 1,106.1 1,181.1 Accumulated other comprehensive loss (43.9 ) (95.3 ) Total shareholders' equity 1,206.7 1,251.6 Total liabilities and shareholders' equity $ 1,451.3 $ 1,481.1 Expand Reconciliation of non-GAAP financial measures to the comparable GAAP measures Non-GAAP Financial Measures: This earnings release includes the following financial measures that are not presented in accordance with generally accepted accounting principles in the United States of America ('GAAP'): (1) Adjusted earnings per diluted share, which the Company defines as earnings (loss) per diluted share excluding acquisition and related integration costs, dispositions, intangible amortization, (gains) losses on the sale or disposal of property, plant and equipment, restructuring, severance, impairment and other related costs, asbestos-related charges (credits), and the related income tax effect on these items, and charges to income tax expense for valuation allowances on deferred tax assets generated in prior years, divided by adjusted weighted average shares outstanding - diluted; (2) Adjusted EBITDA, which the Company defines as net income (loss) excluding acquisition and related integration costs, dispositions, intangible amortization, (gains) losses on the sale or disposal of property, plant and equipment, restructuring, severance, impairment and other related costs, asbestos-related charges (credits), interest income (expense), net, income tax (benefit) expense , depreciation of fixed assets, and equity compensation expense; (3) Adjusted EBITDA Margin, which the Company defines as the percentage that results from dividing Adjusted EBITDA by total net sales; (4) Free cash flow, which the Company defines as net cash provided by operating activities less non-acquisition capital expenditures. Management believes adjusted earnings per diluted share, adjusted EBITDA and adjusted EBITDA margin are useful to investors because they allow for comparison to the Company's performance in prior periods without the effect of items that, by their nature, tend to obscure the Company's core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. As a result, management believes that these measures enhance the ability of investors to analyze trends in the Company's business and evaluate the Company's performance relative to peer companies. Management also believes free cash flow is useful to investors as an additional way of viewing the Company's liquidity and provides a more complete understanding of factors and trends affecting the Company's cash flows. However, non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, or as alternatives to, financial measures prepared in accordance with GAAP. In addition, these non-GAAP financial measures may differ from, and should not be compared to, similarly named measures used by other companies. Reconciliations of the differences between these non-GAAP financial measures and their most directly comparable financial measures calculated in accordance with GAAP are set forth below. The following table reconciles weighted average shares outstanding - diluted under US GAAP to adjusted weighted average shares outstanding - diluted used in the calculation of adjusted diluted EPS: Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA*: 2025 2024 (dollars in millions) Q2 Q1 Q2 GAAP Net Income (Loss) $ (73.6 ) $ (1.4 ) $ 8.1 Acquisition & Divestiture Related Costs: Acquisition & Related Integration Costs — — — Intangible Amortization 2.7 2.7 3.1 (Gain) Loss on Sale or Disposal of PPE — — — Restructuring, Business Realignment & Other Cost Saving Initiatives: 76.1 5.9 3.1 Asbestos-Related Charges (Credits) — — — Interest (Income) Expense, net (0.4 ) (0.3 ) 0.2 Income Tax (Benefit) Expense 4.3 (0.2 ) 3.8 Depreciation 10.5 9.2 8.2 Equity Compensation 4.3 3.6 5.3 Total Adjustments $ 97.5 $ 20.9 $ 23.7 Adjusted EBITDA $ 23.9 $ 19.5 $ 31.9 *Values in table may not add due to rounding. Expand Calculation of Adjusted EBITDA margin*: 2025 2024 (dollars in millions) Q2 Q1 Q2 Adjusted EBITDA $ 23.9 $ 19.5 $ 31.9 Divided by Total Net Sales 202.8 190.5 214.2 Adjusted EBITDA Margin 11.8 % 10.2 % 14.9 % *Values in table may not add due to rounding. Expand Reconciliation of Net Cash Provided By Operating Activities to Free Cash Flow: Reconciliation of GAAP Earnings Per Diluted Share to Adjusted Earnings Per Diluted Share Guidance for the 2025 Third Quarter:

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store