Company Reports Q3 Adjusted Earnings Per Share Above Estimates

The company reported third-quarter adjusted earnings per share of 77 cents, exceeding the 76-cent consensus estimate. Net sales totaled $7.72 billion against an expected $7.8 billion, while adjusted EBITDA reached $183 million compared with the $182.3 million forecast.

Management narrowed its full-year net sales guidance to a range of $31.1 billion to $31.3 billion from the prior $31.0 billion to $31.4 billion band. The company also tightened its adjusted earnings per share outlook to $2.40 to $2.60, compared with the earlier $2.30 to $2.70 range.

Adjusted EBITDA guidance was similarly narrowed to $685 million to $705 million from the previous $680 million to $710 million interval.