Hallinan attributed about half of the EPS outperformance to “above the line operating outperformance…driven by Outdoor,” with the remainder coming from below-the-line items, including a first-quarter tax rate of 26% versus a 30% forecast due to “the timing of a discrete tax item.” He said the company did not change its full-year tax rate view of 19%.On profitability, Nelson said adjusted gross margin was 30.2%, down 20 basis points year over year, while adjusted EBITDA margin was 9.2%, down 50 basis points. ...