Overview
- Q3 adjusted earnings were $0.91 per share versus the $0.89 consensus, with net sales of $5.13 billion matching estimates.
- Management reduced full-year organic sales growth guidance to 1%–2% from 2%–4%, while full-year EPS guidance was reaffirmed.
- Gross profit margin declined by 190 basis points to 59.4%, with about $75 million in tariff-related costs weighing on results.
- Pricing rose 2.3% as volumes fell 1.9%, and executives pointed to weak North American demand and increased trading down to lower-priced options.
- Shares closed at $77.07, up 0.73% on Friday, then eased slightly after hours, following months of analyst price-target cuts that largely kept ratings intact.