Q2 profit and revenue grew year-over-year, driven by recent acquisitions and progress on the company's electric-vehicle plans. However, a shrinking backlog and weak demand in Europe cloud the near-term outlook and pose downside risk to upcoming quarters. Monitor backlog trajectory and European order trends for signals on guidance revisions or slowing demand.
Q2 profit and revenue grew year-over-year, driven by recent acquisitions and progress on the company's electric-vehicle plans. However, a shrinking backlog and weak demand in Europe cloud the near-term outlook and pose downside risk to upcoming quarters. Monitor backlog trajectory and European order trends for signals on guidance revisions or slowing demand.
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