Somero raises annual guidance and increases its interim dividend

Somero ($SOM) raised its full-year outlook after first-half revenue increased 22% to $48.7 million. The concrete-leveling equipment maker now expects annual revenue of approximately $95 million and adjusted EBITDA of about $19.5 million. Management pointed to stabilizing construction markets, stronger customer activity and demand associated with data centers and related infrastructure, while noting that tariffs and other economic uncertainties remain risks.

Growth extended beyond North America, with European revenue rising 41% and Australian revenue increasing 12%. Operating cash flow improved to $7.1 million, and the company ended the half with $29.6 million in net cash after dividends and share repurchases. Somero also increased its interim dividend by 25% to five US cents per share. Its year-end cash forecast assumes the additional buyback authorization is fully used.

Sources:

• Somero — interim results and revised outlook, RNS