Free Cash Flow and Share Repurchase
Generated approximately $310 million in free cash flow and repurchased 315,000 shares for approximately $40 million in the quarter, with a year-to-date total of $108 million in share buybacks.
Restructuring Savings
Identified additional restructuring opportunities to deliver $32 million in annualized savings. Combined with previous actions, total expected savings are $110 million for the year.
European Market Potential
Lower inflation and record savings levels in Europe are expected to encourage discretionary spending, with some governments initiating programs to incentivize new home construction.