READING, PA — Cambridge-Lee Holdings, Inc. reported a sharp increase in third-quarter revenue and earnings as strong demand, improved pricing, and operational efficiencies drove higher profitability across its copper tubing and industrial products business. The company released its unaudited consolidated financial results for the quarter ended September 30, 2025.
Net sales reached $731.1 million, up from $604.4 million in the same period last year, reflecting broad-based growth across its product categories. Gross income rose to $253.2 million compared with $168.4 million a year earlier, supported by a decline in comparative production costs and improved margin performance. Operating income increased to $217.1 million, up from $135.3 million in the prior-year quarter.
Net income attributable to Cambridge-Lee was $138.9 million, an increase from $104.1 million a year ago. Total net income—including noncontrolling interests—was $143.2 million.
The company also reported a substantial expansion in total assets and shareholders’ equity. Total assets grew to $741.6 million, driven primarily by higher inventories, increased receivables, and investments in property and equipment. Shareholders’ equity strengthened to $623.5 million, reflecting strong retained earnings growth.
Despite the improved earnings profile, Cambridge-Lee recorded negative operating cash flow as working-capital demands intensified. The company reported a net use of $34.7 million in operating cash flow, driven by increases in receivables, inventories, and short-term investments. Capital expenditures resulted in an additional $18.5 million outflow, while dividend payments and financing activities accounted for another $31.7 million reduction in cash. Cash and equivalents declined to $213.5 million from $298.4 million at the beginning of the period.
The results highlight a company experiencing strong commercial momentum while navigating typical cash-cycle pressures associated with growth. Cambridge-Lee, a wholly owned subsidiary of Tubo de Pasteje S.A. de C.V., did not issue forward guidance or commentary beyond the reported figures.
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