Improvement in Operating Performance
Operating profit grew by $14 million, reaching $413 million, and operating profit margin increased by 100 basis points to 20.1%.
Earnings Per Share Growth
Delivered an 8% increase in earnings per share, reaching $1.30 per share.
Plumbing Segment Success
Plumbing sales increased by 4% in local currency with North American plumbing sales up by 5% due to favorable pricing and volume.
Recognition for Innovative Products
Delta Faucet's water filtration products received several awards, including the WaterSense certification. Hansgrohe won 4 Red Dot Design awards.
Strong Cash Generation and Shareholder Returns
Returned $167 million to shareholders through dividends and share repurchases during the second quarter.