“We are raising organic growth expectations from 3% to greater than 3.5% for the year.”

In context

“ket. SIBG and TBG which together represent 80% of our business delivered 7% growth in the second quarter approximately 5% growth for the first half. Finally, consumer, which makes up the remaining 20% of our sales was down 2.1% for the quarter and 1.7% for the half. Point-of-sale growth in the U.S. remained healthy and has been positive in 18 of the 26 weeks year to date, versus 7 positive weeks in all of last year. However, tightening of inventory levels at several key retailers in the second half of June more than offset this positive momentum. The second quarter performance caps a strong first half including organic sales growth of 3.3% operating margin of 24.3% and earnings growth of 12%. Giving us confidence to raise our full year guidance across all the financial metrics on Slide 9. We are raising organic growth expectations from 3% to greater than 3.5% for the year. This is a result of strong commercial momentum in our industrial businesses supported by increased sales contribution from new product launches which will more than offset the slight weakness in consumer business. EPS guidance is increasing from a range of $8.50 to $8.70 to $8.80 to $8.95, a growth of 9% to 11% year over year. This increases both the low and high end of the guidance and reflects about a $0.27 increase at the midpoint. The increase in earnings versus the prior guidance is coming from stronger sales growth, productivity gains and our capital deployment strategy. We now estimate oil inflation $150 million to $175 million up from $125 million previously. This impact is expected to be fully covered by the price actions we implemented in Q2. Though oil price cost is dollar neut”