Record Quarterly Sales Across All Segments
All segments achieved record quarterly sales and generated 6% growth or better, despite challenging macroeconomic conditions.
Successful Integration of Strategic Acquisitions
Integration of acquisitions like the Pink Stuff and Ready Seal contributed to record sales in the Consumer Group, with acquired businesses showing accretive margins.
Strong Performance in Europe and Emerging Markets
Growth was led by Europe, benefiting from acquisitions and favorable FX, while emerging markets like Africa and the Middle East showed strength driven by infrastructure projects.
Construction and Performance Coatings Groups Drive Organic Growth
Construction Products Group and Performance Coatings Group saw unit volume growth of 4% and 8% respectively, driven by turnkey solutions and strategic sales expansions.
Healthy Balance Sheet and Liquidity
The company maintains low leverage ratios and liquidity of $933 million, enabling strategic acquisitions and shareholder returns.
Outlook for Continued Growth
Expectations for another quarter of record sales and adjusted EBIT with mid-single-digit growth in sales and EBIT.