Pressure Control Margin Improvement
Pressure Control margins improved sequentially due to tariff mitigation and cost reduction efforts, with operating margins increasing by 290 basis points and adjusted segment EBITDA increasing by 3.9%.
Spoolable Technologies International Growth
Spoolable Technologies sales and margins exceeded expectations due to higher international shipments, achieving the highest international revenue since the acquisition.
Strong Cash Position
The company increased its cash balance to $446 million, reflecting a sequential increase of approximately $40 million.
Dividend and Earnings Growth
Paid a quarterly dividend of $0.14 per share; adjusted net income and earnings per share were $54 million and $0.67, respectively, up from $53 million and $0.66 in the prior quarter.