Tuesday, July 29, 2025 at 5 p.m. ET
CALL PARTICIPANTS
* President & Chief Executive Officer -- Arsen S. Kitch
* Senior Vice President & Chief Financial Officer -- Sherri J. Baker
TAKEAWAYS
* Net Sales -- $392 million, up 14% year over year and 4% sequentially, driven by the Augusta acquisition and higher food service shipments, partly offset by lower market-driven pricing.
* Adjusted EBITDA -- $40 million, at the midpoint of guidance; adjusted EBITDA margin of 10.2%; compared to negative $8.6 million last year.
* SG&A Expense -- Reduced to 6.7% of net sales versus 8.8% last year, within the 6%-7% target range as a result of cost reduction initiatives and Augusta integration.
* Cost Savings -- On track to deliver $30 million to $40 million in fixed cost reductions for the year, with an anticipated $40 million to $50 million annualized run rate benefit.
* Share Repurchase -- $4 million in Q2 and $18 million cumulative since the November 2024 authorization, with a $100 million total authorized.
* Major Maintenance -- Cypress Bend mill outage completed at a $9 million Q2 cost; $45 million capital emissions project finalized as planned.
* Industry Utilization Rate -- 83.1%...
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