“We continue to expect full year pre-tax restructuring benefits of $400 million to $450 million with offsetting charges.”

In context

“d-single digits in our electronics business and high-single digits in consumer. This softness was partially offset by strength in our automotive OEM business. Regionally, the U.S. was up slightly despite continued challenges in retail. Europe remained soft, and China was down mid-teens year-on-year organically due to continued end-market softness along with lapping strong sales backlog recovery in the prior year. Our strong adjusted EPS of $2.68, exceeded our expectations of $2.25 to $2.40. Roughly two-thirds of the beat was driven by operational execution in our supply chain and proactive spending discipline, and a balance driven by restructuring timing. The restructuring actions we announced earlier this year are largely on track and we are seeing favorable margin impact in our results. We continue to expect full year pre-tax restructuring benefits of $400 million to $450 million with offsetting charges. Turning to slide six for the components that drove our year-on-year operating margin and earnings performance, manufacturing productivity and restructuring actions, strong spending discipline, and selling prices partially offset by lower sales volume, investments in the business, and the previously mentioned headwind from disposable respirator and last year's exit of Russia, resulted an improvement to operating margins of 260 basis points and to earnings of $0.22 per share. Pre-tax restructuring and related charges in the quarter were $68 million or a negative impact to margins of 80 basis points and $0.10 to earnings. This charge was lower than our anticipated range of $125 million to $175 million in Q3 due to factors that impacted the timing of actions that are being pushed into Q4. The”