2026 Full-Year Financial Outlook

The Company is reaffirming its net sales growth, organic net sales growth, reported earnings per share and adjusted earnings per share outlook for the year.

2026 Full-Year Outlook

 		Guidance
Net sales growth*

 		4% to 5%
Organic net sales growth

 		2.5% to 3.5%
Reported earnings per share growth

 		79% to 89%
Adjusted earnings per share growth

 		30% to 35%
*Reflects an approximate 150 basis point benefit from the 2025 acquisition of LesserEvil

The Company also expects:

  • A reported and adjusted effective tax rate in the range of approximately 25% to 27%;
  • Other expense, which primarily reflects periodic benefit costs relating to pension and other post-retirement benefit plans, of approximately $15 million to $20 million;
  • Interest expense of approximately $200 million to $210 million;
  • Capital expenditures in the range of approximately $425 million to $475 million; and
  • Advancing Agility & Automation Initiative savings of approximately $100 million.

Below is a reconciliation of current projected 2026 and full-year 2025 earnings per share-diluted calculated in accordance with U.S. generally accepted accounting principles (GAAP) to non-GAAP adjusted earnings per share-diluted:



 		2026 (Projected)

 		2025
Reported EPS – Diluted$7.77 - $8.19

 		$4.34
Derivative Mark-to-Market Losses—

 		$2.08
Business Realignment Activities0.30 - 0.35

 		$0.29
Acquisition and Integration-Related Activities0.15 - 0.20

 		$0.20
Long-Lived Asset Impairment Charges—

 		$0.03
Tax Effect of All Adjustments Reflected Above$(0.12)

 		$(0.63)
Adjusted EPS – Diluted$8.20 - $8.52

 		$6.31