Despite the quarterly beat, shares traded lower as investors assessed the narrowed sales outlook and currency headwinds alongside the improved earnings forecast.
Earnings And Margins
Adjusted EPS rose 48% to $1.88, beating the $1.76 estimate. Net sales increased 4% year over year to $1.819 billion, above the $1.813 billion estimate, while organic sales also grew 4%.
GAAP diluted EPS from continuing operations increased to $1.37 from 17 cents. GAAP income from continuing operations rose to $191 million from $24 million.
Operating EBITDA increased 6% to $448 million, driven by organic growth and productivity. Operating EBITDA margin expanded 40 basis points to 24.6%.
