Sales growth was broad-based but partly price, currency, and acquisition driven
Q2 FY2026 net sales increased 6.0% to $6.5B, including 3.4% comparable-sales growth, a 1.4% favorable foreign-currency-and-other contribution, and a 1.2% acquisition contribution. Management estimates that approximately 2.5% of comparable-sales growth reflected price inflation, including tariff-related effects.
Industrial delivered the strongest underlying growth and margin improvement
Industrial sales rose 7.1% in Q2 FY2026, driven by 6.1% comparable-sales growth, while segment EBITDA increased 9.8% to $316.4M and its EBITDA margin improved 30 basis points to 13.1%. Management cited stronger U.S. manufacturing activity, pricing and sourcing initiatives, restructuring benefits, and cost controls.
GAAP earnings declined because operating costs and one-time items increased
Net income fell 10.7% to $227.6M and diluted EPS fell 9.8% to $1.65. Management attributed the decline primarily to planned-separation costs, higher restructuring and other costs, and higher Middle East conflict-related costs; adjusted diluted EPS, which excludes specified items, increased 2.4% to $2.15.