Dauch Corporation lifted its full-year guidance after reporting second-quarter sales of roughly $3 billion, driven by its Dowlais acquisition. Adjusted EBITDA reached $389.6 million, or 13.2% of sales, roughly double the $202 million posted a year earlier, with Dowlais contributing $180 million. The company has banked $70 million in run-rate cost savings and targets $100 million by year-end, $180 million by the end of year two, and $300 million by year three. Full-year sales guidance moved to $10.6 billion to $10.8 billion, adjusted EBITDA to $1.36 billion to $1.425 billion, and adjusted free cash flow to $260 million to $325 million. Net interest expense more than doubled to $82.6 million from $37.5 million, and GAAP net income fell to $1 million from $39.3 million a year earlier, while net debt stood at $4.1 billion, a 2.6x leverage ratio.
Dauch CorporationRaises full-year guidance and reports strong EBITDA growth from Dowlais acquisition.