Strong Earnings and Margin Improvement
First quarter adjusted earnings per share of $1.88, up 10% versus last year with operating margins increasing by 220 basis points year over year.
Positive Organic Sales Growth
Organic sales growth was 1.5%, with all business groups posting positive growth.
Increased New Product Launches
Launched 62 new products in Q1, a 60% increase year-over-year, with a goal to launch 215 new products this year.
Strong Cash Flow and Shareholder Returns
Free cash flow was solid at $0.5 billion; returned $1.7 billion to shareholders and raised the dividend by 4%.
Operational Excellence Initiatives
On-time in full delivery increased to 89%, the best in five years, and equipment utilization improved by 4 percentage points.