READ MOREExcluding these items, adjusted EPS from continuing operations was $0.93, up 7% versus the prior year period (see attached footnotes for non-GAAP reconciliation).
Sales of $8.4 billion increased 3% compared to the prior year. Excluding the impacts of M&A, foreign currency and lead prices, total sales grew 6% organically.
GAAP earnings before interest and taxes (EBIT) was $1.0 billion and EBIT margin was 12.0%. Adjusted EBIT was $1.2 billion and adjusted EBIT margin was 14.0%, up 10 basis points over the prior year. Excluding the impact of the Scott Safety divestiture, foreign currency and lead prices, the underlying adjusted EBIT margin increased 50 basis points.
The Company announced that the Board of Directors has approved an additional $1 billion share repurchase authorization. There is currently $900 million remaining on a previous authorization. ■