Cost Savings InitiativesGross margin recovery continues to be a priority, with Project Momentum now expected to achieve savings of $180m to $200m, up $20m from the previous guide.
Financial PerformanceProfitability metrics were better across the board, with adjusted EBITDA beating CGe and consensus by ~7% and ~9%, respectively.
ValuationThe stock has experienced a 9% drop year-to-date, making its valuation more attractive.