Core Insights - The company has completed a multi-year restructuring plan, achieving approximately $70 million in sustainable EBIT benefits at a lower execution cost than initially expected [1] - The divestiture of the Aerospace business in Q3 2025 is a key catalyst for deleveraging, enabling the company to retire commercial paper and aim for a 2x leverage target [1] - Residential end markets, which account for about half of total revenue, are experiencing a multi-year depression with demand significantly below historical averages [1] Industry Dynamics - Bedding performance shows a divergence, with strong domestic trade rod and wire demand contrasted by weak mattress-related volumes due to specific customer financial distress [1] - The automotive sector faces challenges from Chinese EV exports affecting European OEMs and inflationary pressures in North America as manufacturers try to recover tariff-related costs [1] Strategic Focus - The company is shifting its strategic focus towards 'offense' by promoting semi-finished product growth, such as Eco-Base, and expanding specialty foam competencies to diversify its customer base [1] - There is a prioritization of regional production alignment, highlighted by the establishment of a new facility in Vietnam to support customers relocating furniture production to Southeast Asia [1]