Management remarks
Call period: 2026 Q2 · 2026-08-06
Demand and orders: John Plant: The near-term outlook for our missile business continues to strengthen, with demand increases being either seen or signaled for the PAC-3, THAAD, Tomahawk and some classified programs.Margins: Patrick Winterlich: EBITDA margin increased 340 basis points to 32.1% despite a modest headwind from the CAM acquisition.Analyst Q&A
Analyst Peter Arment asked: Nice results. John, if I look at Fastening margins and if we backed out the CAM contribution or at least our estimate, it looks like you had, again, another kind of almost record margin for Fastening. What's the best way to think about the time line for synergies for the CAM acquisition? Management John Plant answered: So we're doing it. It is -- everything we thought that CAM would be for us is still intact, and it looks good for us. But this quarter and for the margin [indiscernible] of this year, we're going to see they were a 20% company, so we were at 30%, you blend them together and basically, any increase we've done on our legacy business has offset that dilution. So we're still doing it like a 30% fasteners margin. But with the prospects, hopefully, of seeing some improvements on that as we get into 2027.管理层陈述
电话会期间：2026 Q2 · 2026-08-06
需求与订单：约翰·普兰特称：我们导弹业务的近期展望持续向好，PAC-3、萨德、战斧以及部分机密项目的需求增长已显现或被预示。利润率：帕特里克·温特利希称：尽管CAM收购带来适度逆风，公司息税折旧摊销前利润率增长340个基点至32.1%。分析师问答
分析师彼得·阿蒙特提问：“恭喜业绩。如果剔除CAM业务贡献，我估算紧固件业务利润率再次接近纪录高位。如何看待CAM收购的协同效应时间表？” 管理层约翰·普兰特回应：“整合正在推进，CAM业务此前利润率为20%，我们原有业务利润率为30%，两者合并后，我们通过提升原有业务利润率抵消了稀释，目前紧固件业务利润率仍维持30%，有望在2027年实现进一步改善。”This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
