Sales Increase and Price Management
Sales increased 8% driven by pricing and M&A strategy. The company achieved a neutral price cost position and generated $8 million in permanent savings, leading to a 15% increase in adjusted earnings per share and record cash flow generation with 149% cash conversion.
Organic Sales Growth
Organic sales increased 5.6%, with low single-digit volume growth in Americas welding equipment. Automation order rates showed a broad increase in September and October.
Harris Products Group Performance
The Harris Products Group saw a 15% sales increase with 2% higher volumes and nearly 12% higher price, achieving a record 18.3% EBIT margin.
International Welding Segment Improvement
International Welding segment sales increased 1.6%, with a 29% increase in adjusted EBIT and a margin increase of 230 basis points to 11.3%.
Record Cash Flow
Generated record cash flow from operations with a 119% cash conversion ratio and announced a 30th consecutive annual dividend payout rate increase of 5.3%.
Strategic Positioning for Future Growth
The company is well-positioned for future growth with strategic investments and a focus on long-term growth, supporting superior shareholder returns.