Record-Breaking EBITDA and Margin Growth
The company reported record Q2 adjusted EBITDA of $73.5 million, a 13% increase from the previous year, with margins expanding by 150 basis points to 11.1%.
Improved Employee Metrics
Frontline turnover improved significantly, demonstrating the success of reinvestment in employee programs like paid time off and fleet refreshment.
Successful Share Repurchase Program
The company launched a $100 million share repurchase program, indicating strong balance sheet management and confidence in undervalued share prices.
Strong Development Segment Performance
Development segment achieved a record Q2 adjusted EBITDA of $17.1 million, with margin expansion of 410 basis points due to backlog conversion and operational efficiencies.
Raised Full-Year Guidance
Guidance for adjusted EBITDA increased to $355 million, with expected margin improvement in both maintenance and development segments.