Fri, Aug 2, 10:36 AM (230 days ago)
ESAB Corporation's Q2 2024 report shows a slight decline in net sales to $707.1 million compared to $720.4 million in Q2 2023, primarily due to unfavorable foreign currency translation. Gross profit increased to $270.3 million, with a margin expansion to 38.2%, driven by lower material costs and favorable product mix. Selling, general, and administrative expenses decreased to $146.2 million due to restructuring savings and currency impacts. Net income from continuing operations rose to $85.5 million, with a margin increase to 12.1%, benefiting from lower restructuring charges and tax expenses. Adjusted EBITDA improved to $141.0 million, with a margin of 19.9%. Cash and cash equivalents rose to $228.5 million, supported by $127.5 million in operating cash flow. The company remains well-positioned with a strong liquidity profile, including $750 million available under its revolving credit facility. Future performance may be impacted by geopolitical tensions and currency fluctuations.