Dauch Corp 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements DAUCH CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 (in millions, except per share data) Net sales $ 2,955.6 $ 1,536.2 $ 5,334.5 $ 2,947.5 Cost of goods sold 2,617.4 1,335.5 4,770.9 2,572.9 Gross profit 338.2 200.7 563.6 374.6 Selling, general and administrative expenses 166.9 100.8 304.2 191.7 Amortization of intangible assets 21.8 20.4 44.7 41.0 Impairment charge (Note 2) — 8.0 — 8.0 Restructuring and acquisition-related costs 49.8 16.5 148.7 36.2 Operating income 99.7 55.0 66.0 97.7 Interest expense ( 89.8 ) ( 43.1 ) ( 179.4 ) ( 86.0 ) Interest income 7.2 5.6 19.3 11.2 Other income (expense) Debt refinancing and redemption costs ( 0.9 ) — ( 3.9 ) ( 3.3 ) Gain on Business Combination Derivative (Note 6) — 46.3 12.9 68.2 Income from equity-method affiliates 17.4 0.5 27.7 0.5 Other income (expense), net ( 16.0 ) 3.1 ( 44.6 ) 0.2 Income (loss) before income taxes 17.6 67.4 ( 102.0 ) 88.5 Income tax expense (benefit) 16.1 28.1 ( 3.5 ) 42.1 Net income (loss) $ 1.5 $ 39.3 $ ( 98.5 ) $ 46.4 Net income attributable to noncontrolling interests ( 0.5 ) — ( 0.8 ) — Net income (loss) attributable to Dauch $ 1.0 $ 39.3 $ ( 99.3 ) $ 46.4 Basic earnings (loss) per share $ — $ 0.32 $ ( 0.46 ) $ 0.38 Diluted earnings (loss) per share $ — $ 0.32 $ ( 0.46 ) $ 0.38 See accompanying notes to condensed consolidated financial statements. 2 DAUCH CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 (in millions) Net income (loss) $ 1.5 $ 39.3 $ ( 98.5 ) $ 46.4 Other comprehensive income (loss) Defined benefit plans, net of tax (a) 0.4 ( 0.2 ) 0.8 ( 0.5 ) Foreign currency translation adjustments ( 7.0 ) 24.8 6.4 48.1 Changes in hedges, net of tax (b) 5.3 8.8 11.9 11.0 Other comprehensive income (loss) ( 1.3 ) 33.4 19.1 58.6 Comprehensive income (loss) $ 0.2 $ 72.7 $ ( 79.4 ) $ 105.0 Net income attributable to noncontrolling interests ( 0.5 ) — ( 0.8 ) — Comprehensive income (loss) attributable to Dauch $ ( 0.3 ) $ 72.7 $ ( 80.2 ) $ 105.0 (a) Amounts are net of tax of $ — million and $ 0.1 million for the three and six months ended June 30, 2026 and $ 0.1 million and $ 0.2 million for the three and six months ended June 30, 2025. (b) Amounts are n