Record Third Quarter Earnings Per Share
Earnings per share were $1.55, marking a company record for the third quarter, up 3% from the previous year.
Strong Cash Flow Performance
Cash flow increased by 24% year-over-year, contributing to a strong balance sheet with a net leverage ratio of 1.7x EBITDA.
Dividend Increase
The company announced a 9% increase to its regular quarterly dividend, marking the third consecutive year of dividend increases.
Growth in Pet Litter and Renewable Fuel Purification
The pet litter market in Asia showed strong growth, with investments made to support long-term growth. Sales in renewable fuel purification were up 18% year-over-year.
Expansion in Engineered Solutions
The segment saw a 4% year-over-year sales increase, with a record operating margin of 17.6%.