DPC Holdings (DPC) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $269 million, up 34% year-over-year, driven by strong Aerospace and IGT demand, with Engine Products up 39% overall, 49% in Europe, and 29% in North America.

• Adjusted EBITDA rose 33% to $48 million (17.8% margin), with adjusted net income turning positive at $6 million and adjusted EPS of $0.05.

• Net loss widened to $131 million due to one-time IPO and management incentive plan expenses.

• IPO and private placement proceeds repaid major debt, resulting in an unleveraged balance sheet and net cash position of $274 million.

• Signed a fourth strategic customer partnership with a major Aerospace OEM, supporting a new superalloy facility in Alabama.

Financial highlights

• Q2 2026 revenue: $269 million (+34% YoY); adjusted EBITDA: $48 million (+33% YoY, 17.8% margin); adjusted net income: $6 million (vs. $(11) million prior year); adjusted EPS: $0.05.

• Working capital increased due to growth investments and higher metal cost inflation pass-through.

• Free cash flow for Q2 2026: $(36.5) million, reflecting elevated capital expenditure.

• Adjusted net cash to adjusted EBITDA: 0.7x as of June 28, 2026.

Outlook and guidance

• Full-year 2026 guidance: revenue of $1,000–$1,040 million and adjusted EBITDA of $182–$187 million; margin expected at ~19% excluding metal cost inflation pass-through.

• Growth driven by strong demand in Aerospace and IGT, with multi-year contracts, record aircraft backlogs, and capacity expansions underpinning future performance.

• Margin improvement anticipated through operating leverage and pricing.