

This was offset partly by solid 9.0% net sales growth from Commercial Vehicle given supportive demand and customer production rates despite moderate supply issues also impacting that end-market. The 10.1% reported net sales decrease for Mobility Coatings included a 14.8% decrease from Light Vehicle, which remained impacted by customer production constraints as a result of ongoing semiconductor chip and other supply chain shortages. Performance Coatings Q3 net sales increased 14.1%, including double-digit growth rates from both the Industrial and Refinish end-markets. Third quarter net sales of $1,088.6 million increased 6.0% year-over-year, including a 1.3% foreign currency benefit, driven by 4.5% higher average price and product mix and a 1.8% M&A benefit, partly offset by 1.6% lower volumes. Third Quarter 2021 Consolidated Financial Results Closed acquisition of U-POL, a manufacturer of automotive repair and refinish products, on September 15, 2021.Completed share repurchases of $90.1 million during Q3 and $213.7 million year-to-date.Diluted EPS of $0.30 versus $0.35 in Q3 2020 Adjusted diluted EPS of $0.39 versus $0.59 in Q3 2020.

Income from operations of $124.7 million versus $141.7 million in Q3 2020 Adjusted EBIT of $146.0 million compared with $210.4 million in Q3 2020 Q3 earnings results exceeded July guidance.Net sales increased 6.0% year-over-year with substantial growth of 14.1% from Performance Coatings more than offsetting continued weakness in Light Vehicle due to auto OEM production constraints.
