DPC Holdings has expanded its portfolio to four strategic customer partnerships with aerospace and industrial gas turbine OEMs that are expected to generate more than $200 million of incremental annual revenue at accretive margins.
The latest agreement was signed during Q2 2026 with an aerospace OEM and includes customer volume commitments supporting construction of a new greenfield superalloy facility in Alabama. DPC said the broader group of partnerships includes customer-funded investment and volume commitments.
DPC, which operates as Doncasters, is seeking to transform its customer relationship from supplying individual components toward becoming a strategic manufacturing partner. The company produces complex precision-cast components and nickel- and cobalt-based superalloys used primarily in aerospace and industrial gas turbine applications.
The strategic expansion comes as underlying demand remains strong. Q2 revenue increased 34% to a record $269 million from $201 million. Engine Products revenue increased 39%, including 49% growth in Europe and 29% in North America, reflecting growth in aerospace and industrial gas turbines.
Adjusted EBITDA increased 33% to $48 million, while Engine Products Adjusted EBITDA surged 53%. Segment Adjusted EBITDA margin expanded 210 basis points to 23.5%, benefiting from higher volumes and value-based pricing.
Adjusted net income improved to $6 million from an $11 million loss a year earlier. GAAP results were affected by several significant items, with DPC reporting a $131 million net loss compared with a $49 million loss in Q2 2025, largely due to a Management Incentive Plan accrual, IPO expenses and a new incentive share scheme.
DPC also used proceeds from its IPO and private placement to repay its shareholder PIK loan and ABL facility, resulting in what the company described as an unleveraged balance sheet. It subsequently repaid most of its term loan and all of its Management Incentive Plan obligations.
The company ended the quarter with $846 million of cash and $573 million of borrowings, resulting in an adjusted net cash position of $274 million.
For full-year 2026, DPC expects revenue of $1 billion to $1.04 billion and Adjusted EBITDA of $182 million to $187 million.
KEY QUOTES:
“We are transforming Doncasters from a supplier of individual components into a trusted strategic partner for our customers, evidenced by a growing portfolio of differentiated strategic customer partnerships.”
“We now have four partnerships with Aero and IGT OEMs, which are expected to deliver more than $200 million of incremental annual revenue at an accretive margin, with customer-funded investment and volume commitments.”
Mike Quinn, Chief Executive Officer Of DPC Holdings
