Q2 Earnings Rally Signals Broad Growth Across Sectors
Resideo beat expectations in Q2 with strong execution across most metrics, though margins were pressured by input costs and a legal settlement. Astronics posted double-digit revenue growth and a record backlog, helped by higher volumes, efficiency gains, and pricing actions that supported margin expansion. B&G Foods saw a 9.7% year-over-year revenue decline and missed revenue estimates, attributing softness to recent divestitures, even as adjusted EBITDA and cash flow improved. Target Hospitality reported a robust quarter with revenue of $85.5 million, up 39%, and adjusted EBITDA of $18.2 million, powered by a surge in Workforce Hospitality Solutions and large new contract awards. The company highlighted strong WHS growth, including more than 9,000 contracted beds since January and a growing pipeline for AI data centers and critical power projects. Management signaled momentum and an improving mix, noting that any guidance lift was driven by scope expansions and better visibility, while questions about asset divestitures remained to be addressed.

