David MacGregor

are you confident that you held market share in that business this quarter?

how much of the margin pressures are, you think, resulting from the introduction of more value-oriented products like the Performance Series and the Von Duprin 70

just wanted to stay close to the water treatment business and ask for any thoughts you've got on what you're seeing in the way of consumer demand patterns

You called out the 400 basis points of margin improvement in 2025, which is quite an accomplishment. And maybe you could maybe talk a little further about just sort of the composition of that impro...

give us an update on gas tankless and the progress to date on relocation of manufacturing and market development

how much excess capacity do you have in your Tennessee and Kentucky component plants and your ability to repatriate manufacturing

Are you seeing anything at the federal level that would suggest that this might be delayed

can you just talk about the timing of the benefits of that restructuring? And when do you expect to see the first signs of success

the follow-up question is just on the balance sheet, I guess, inventories. What is kind of the target in terms of days of inventory?

what we're seeing in energy costs. And with the energy price spike, how are you thinking about the impact

if we could start by just talking about M&A and what you're seeing in the way of change in the environment in 2026. And then with such an active acquisition program as you've been conducting, can y...

can you just talk about the impact on growth and margins from -- just strictly from new product launches

are you seeing any meaningful change this quarter in the route to market? Any growth in distribution network to call out

how you're thinking about the cadence of revenues in 2026 leading into the ramp of that Mercedes early 2027

How should we think about the pace of incremental operating expense investment in '26 and '27

Are you able to quantify the benefit to Garmin, if the Supreme Court overturns the IEEPA tariffs

how meaningful the 2026 revenue growth allowing HSA/FSA funds to be used in the purchase of select Garmin products could turn out to be

I wonder if I guess, if you could talk about tariffs, I guess. Somebody has to ask the obligatory question

I guess I want to start by just asking about lower product cost because you called that out in each segment

I guess the question is on LiveWire and just the rules that LiveWire plays in this product portfolio in vision.

Do you foresee once the dust starts to settle around some of these tariff issues that this could

get your sense of how you're seeing state DOTs responding to project cost inflation. Are you seeing them skew the resources to larger or smaller projects

how much of it are you going to realize during the course of the year

I wanted to just get your thoughts around midyear aggregates pricing. And what did you take away from this year that was maybe a little bit different from the midyear experience last year

how would you characterize the pricing on those tons within the context of their respective markets

any changes you're seeing in the permitting prospects out there in the permitting process

Can you just talk specifically about the technology investments and the opportunity that you see there?

I guess I wanted to just ask about pricing and inflation and demand elasticity

Any sense of how much deferred investments may be in the market there?

how are you thinking about your ability to achieve that above market growth in 2026?

what is the opportunity to improve the profitability of the bottom performing quintile stores?

just thinking about longer-term margin implications here, and what are the levers that you have available to offset against that impact?

how much of that would have been just kind of parts going into maintenance and repair versus equipment sales in the remodel segment?

Does a pullback in consumer confidence translate to growth in DIY versus do it for me

where do you have the greatest opportunity to flex the model in order to protect margins

How much of that do you think was mix driven versus maybe other factors?

Is there anything you can say about the regional kickoffs, Nick? And how they're going?

off the truck sales. You know, how you're feeling about, I know you've got good data on that. How would that have compared with the sell-in?

the sequentially strong volume and tie that back to maybe some of the investments you've made over the last couple of years in capacity

Are those projects that now that people maybe are feeling a little don't know how much more confident, but maybe a little more confident that we see those projects fulfill

there was a time when you thought that tools was a 4% grower. A long-term basis. Is that a number that you're starting to feel a little comfortable with

I wanna start off with just asking truck level sales comps. What do you think those look like this quarter in the US?

You talk about the regional kickoffs and just where orders up or down this year? And by how much?

You've guided to $600 million to $800 million. Just how much of that is working capital contribution?

I wonder if I could get you to just talk a little bit about, you know, how you grow shipments in that kind of

what are the biggest sources of uncertainty for you within your cost structure as you look forward into 2026

How much incremental tonnage do you think you'll ship in 3Q that was of that 2 million tons to 3 million tons, how much can you recover

wondering about the downstream and ready mix. And you've got tariffs that are likely to hit Mediterranean, Southeast Asian imports

Does the profitability algorithm sort of adjust at some point to rely on slightly smaller price increases in favor of larger unit shift gains