Jeffrey Lorberbaum

“Our second quarter results significantly exceeded our expectations as we outperformed our markets, 8% versus the prior year as reported, or up 5% on a – our performance benefited from volume growth, pricing, and product mix.”

“Our performance for the first quarter was in line with our expectations despite a challenging environment. Our adjusted EPS was $1.90, up approximately 25% versus the prior year.”

“Our fourth quarter net sales were approximately $2.7 billion, an increase of 2.4% as reported, and a decrease of approximately 3.3% on a constant basis versus the prior year and in line with our expectations.”

“Our third quarter net sales of $2.8 billion were in line with our expectations slightly ahead of prior year as reported and flat on a constant basis. Though economic conditions across our regions weakened more than anticipated compared to the prior quarter, we believe we outperformed in most of our markets.”

“Our fourth quarter results exceeded our expectations as sales actions, restructuring initiatives, and productivity improvements benefited our performance. Additionally, the sales impact from U.S. hurricanes was limited to approximately $10 million.”