Record Third Quarter Sales
Sales reached $1,190,800,000, up 3.8% from last year, with organic sales increasing by 3%.
Strong Performance in RS and I Segment
RS and I sales grew by 10%, with an organic improvement of 8.9%, driven by high activity with OEM dealerships and increased sales of diagnostics and repair information products.
Sequential Growth and Momentum
Sales were up sequentially over the second quarter results, demonstrating ongoing momentum against normal seasonality.
Highest Ever EPS for a Third Quarter
EPS reached $5.02, or $4.71 excluding a one-time legal benefit, overcoming a $0.09 impact from higher pension amortization costs.
Improved Operating Margin in Tools Group
The Tools Group's operating margin was 21.7%, up 10 basis points from last year.