Industrials
Building Products & Equipment
$85.16B
40K
Key insights and themes extracted from this filing
Net revenues increased by 11.4% YoY to $5,441.2 million, driven by higher volumes and price increases. Organic revenue growth was 11.1%, with acquisitions contributing 0.5% and currency translation having a negative impact of 0.2%.
Gross profit margin increased by 230 basis points to 36.3% due to gross productivity and price realization, partially offset by inflation.
Selling and administrative expenses increased by 19.6% YoY to $949.8 million, driven by higher human capital costs, sales commissions, and expenses from acquired businesses. As a percentage of net revenues, these expenses increased 120 basis points to 17.5%.