Demand EnvironmentNorth America EBITDA margins are expected to face sustained headwinds from scale inefficiencies amidst a muted demand environment.
Industry TrendsSustained unfavorable industry trends are likely to prompt management to guide conservatively for the full year ahead and potentially drive meaningful downside revisions to consensus EPS estimates.
Revenue DeclineEuropean revenue decreased (7.4)% to $1.52 billion with a (1.4)% decrease in segment EBITDA to $141 million, driven by decreased volumes due to economic issues, heightened competition, and one fewer selling day in the quarter.