Strong HBP Segment Performance
Home & Building Products (HBP) segment profitability exceeded expectations with an EBITDA margin of 31.4%, driven by favorable price and mix.
Improved CPP EBITDA Margins
Despite weak demand, Consumer and Professional Products (CPP) segment EBITDA margin improved by 270 basis points year-over-year.
Stock Repurchase and Dividend
Repurchased $40 million of stock and declared a quarterly dividend of $0.18 per share, marking the 56th consecutive quarterly dividend.
Decreased Leverage
Reduced net debt-to-EBITDA leverage to 2.5x, down from 2.7x at the end of the previous year's third quarter.
Increased Adjusted Net Income
Adjusted net income increased to $69 million or $1.50 per share compared to $61 million or $1.24 per share in the prior year quarter.