Perimeter Solutions (PRM) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 rose 31% year-over-year to $213.8M, driven by growth in both Fire Safety and Specialty Products segments, with Specialty Products benefiting from recent acquisitions.

• Adjusted EBITDA for Q2 2026 was $105.6M, up 16% year-over-year; year-to-date adjusted EBITDA was $146.7M, up 34%.

• Acquisition of Monaco Enterprises for $120M, funded with cash and credit, expanding the portfolio to six businesses and expected to add over $11M annualized adjusted EBITDA.

• Operating loss widened to $203.0M in Q2 2026, primarily due to a $266.3M increase in founder advisory fees linked to share price appreciation.

• Operational value drivers and disciplined capital allocation remain central to strategy.

Financial highlights

• Fire Safety segment Q2 2026 net sales: $129.1M (+7% YoY); Segment Adjusted EBITDA: $78.8M (+1% YoY); margin 61%.

• Specialty Products segment Q2 2026 net sales: $84.7M (+100% YoY); Segment Adjusted EBITDA: $26.8M (+96% YoY); margin 32%.

• Adjusted net income for Q2 2026 was $68.6M; adjusted EPS was $0.35; GAAP EPS was $(1.11).

• Gross profit for Q2 2026 was $117.9M, up from $101.5M in Q2 2025.

• Year-to-date Specialty Products revenue up 113% to $164.3M; adjusted EBITDA up to $49.3M.

Outlook and guidance

• Fire Safety EBITDA margins expected to return to historical averages in the second half as temporary headwinds abate.

• Management expects continued demand growth in Fire Safety due to longer fire seasons, increased wildland-urban interface, and expanding aircraft capacity.

• Specialty Products segment positioned for long-term earnings growth as operational improvements and acquisitions take hold.

• Inflationary pressures and global economic volatility are being actively managed through supplier negotiations and cost controls.

• Long-term annual interest expense expected at ~$75M, capital expenditures at $30–$40M, and cash tax rate at 20% or lower.