Divestiture And FocusThe sale of Kichler lighting business is viewed as a modest positive, as Decorative Architectural margins should improve, while dilution appears manageable and MAS focuses on key plumbing and paint franchises.
Margin ExpansionPlumbing margin expansion was the highlight, aided by International volume growth and cost saving initiatives.
Operational StabilitySales have remained steady with its plumbing business benefiting from a repair element & pro paint taking share.