Quarterly report

Summary

• Net sales for the second quarter of 2026 were $529.3 million, up 8.0% from $489.9 million, and net income was $49.3 million versus $13.5 million in the prior year quarter.
• Commercial Aerospace sales grew 18.3% to $346.6 million driven by the Airbus A350 and Boeing 787 widebodies and narrowbody programs, while Defense, Space & Other sales declined 7.2% to $182.7 million, reflecting the September 30, 2025 divestment of the Austrian-based industrial business.
• During the second quarter of 2026 the Company issued $400 million of 4.9% Senior Unsecured Notes due 2031 and redeemed the $400 million of 3.95% Senior Unsecured Notes due February 2027.
• On March 31, 2026 the Company refinanced its senior unsecured credit facility, keeping borrowing capacity at $750 million with a March 31, 2031 maturity, and had total debt of $959.4 million at June 30, 2026.
• The Company recognized restructuring charges of $1.0 million for the quarter and $6.5 million for the six months related to the shutdown of industrial-oriented manufacturing at the Leicester, UK facility.
• The Board declared a quarterly dividend of $0.18 per share payable August 17, 2026, and $380.6 million remained available under the 2025 Share Repurchase Plan with no repurchases in the second quarter.

Why it mattersCommercial aerospace demand tied to Airbus A350, A320neo, Boeing 787 and 737 MAX drove growth, while the Austrian industrial divestment reduced Defense, Space & Other sales. The Company refinanced debt and continues its share repurchase authorization.