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ADENTRA (ADEN) investor relations material
ADENTRA Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 sales reached $597.1M, up 8.7% year-over-year, driven by the Wolfe/Woolf acquisition; organic sales remained flat.
Gross margin improved to 21.8%, with adjusted EBITDA up 12% to $54.3M and adjusted EPS at $0.88.
Operating expenses grew less than 1% organically and declined 3.9% overall.
Cash flow from operations was $33.9M, supporting debt reduction and $11.2M in shareholder returns.
The company remains resilient amid soft construction markets, focusing on disciplined execution and long-term growth.
Financial highlights
US sales grew 9.3% to $551.6M, with Wolfe/Woolf contributing $48.6M; Canada sales up 2.8% in local currency.
Gross profit was $130.1M (up 9.1%), gross margin at 21.8%, slightly higher year-over-year.
Adjusted EBITDA rose 12% to $54.3M; net income was $22.1M ($0.89/share), up nearly 30% year-over-year.
Adjusted net income was $21.9M ($0.88/share), down from $1.03 last year due to higher interest and tax expense.
Operating cash flow was $33.9M, up from $23.8M last year, driven by higher EBITDA and lower taxes.
Outlook and guidance
Near-term outlook is cautious due to US housing affordability, high mortgage rates, and trade uncertainty.
July average daily sales tracking 4% below Q2 levels, with slight improvement in late July.
Confident in long-term fundamentals: structural undersupply, demographic demand, and aging housing stock.
Focus remains on disciplined execution, platform efficiency, organic growth, and targeted M&A.
Expect inventory and leverage to decline in H2, positioning for 2026.
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