Significant Debt Reduction
Reduced debt by $296 million in the third quarter to $1.5 billion, bringing the total debt reduction for the year-to-date to $367 million. Commercial paper balance reduced to 0, significantly strengthening the balance sheet.
Restructuring Plan Success
The restructuring plan is nearly complete, delivering better EBIT contribution with lower associated costs than originally planned. Expected to realize EBIT benefit of $60 million to $70 million annually.
Improved Cash Flow
Third quarter operating cash flow was $126 million, an increase of $30 million compared to the third quarter of 2024, primarily driven by working capital benefits.
Stable Bedding Segment
Bedding product sales decreased 10% year-over-year but improved 3% sequentially versus the second quarter. U.S. spring unit volume was in line with mattress consumption and production.