Mark Weintraub

if I could quickly on NORPAC, $360 million. I mean, technically 3 big paper machines, so a lot of production capacity. So hard from the outside to square away all the numbers

it sounds like there's sort of a lot of quasi onetime stuff here that's like the transformation, the contract cost. Is there a ballpark number as to how much that might be impacting this year

you've got this big step up in the second half of next year, particularly in in North America, and and you you lay it out very clearly

any specific reason why and and maybe this is normal course of both normal course, but why twelve to fifteen months to complete this process?

In the bridging to '27, so I guess we're kind of starting if we need like another $1.4 billion if we have like the $3.6 billion run rate already identified

there was a lot of opportunity in North America to take out excess capacity that had developed in the system, and you basically didn't have to walk away from any business

can you remind us the GCF timeline? I think you mentioned you're still kind of on track. What was the timeline again?

it kind of suggests like a $500 million, $600 million pickup in the second half

what type of tailwind should we expect in Europe from price changes, recognizing things could change?

you also mentioned like a $350 million lack of productivity, reliability type of thing. Can you maybe provide more color

in the past, you've talked about that there would still be negative year-over-year for the -- maybe through the middle of next year

How much additional firepower is there relative to what we've seen in Greif over the last 6 months

it does seem in this particular instance that the good stuff is really showing up in 3Q in a big way

can we also contrast how the containerboard box markets feel now relative to how they felt this time last year?

Could you share those types of metrics this time around?

are you actually feeling any more tightness because of the closures of containerboard capacity?

Have you had business wins of late that you have visibility on that can give us confidence that you can continue to outperform on the volume side?

Just want to reconfirm in terms of CapEx related to those assets, I think you in the past talked about $50 million to $60 million

that would actually seem to suggest continued sequential pretty strong sequential improvement. And I just want to make sure I'm getting that right

I just wanted to clarify that and whether you think that's a reasonable type of number and whether that was included in your synergies or not?

Can you share kind of roughly speaking, how much of your box business is non-contract and/or has that share increased meaningfully over time?

you mentioned you expected volumes to be significantly higher in the second half than the first half. Maybe a bit more color there

how much of the higher box prices that would come as a part of the containerboard price increase initiative that's been announced for January, would -- is incorporated in your 1Q guidance?

Does that mean you could potentially be up 5% in the fourth quarter? And are you I mean it sounds like you're doing really well in regaining business. Are you on the trajectory that you hoped you h...

you're sold out. You're not making enough money in that business relative to what you think you should be. You've announced price increases broadly in a number of the other grades

just to understand downtime kind of in the thought process because obviously, that was costly this year. Is that a big component of potential upside

pricing, you're not using that as sort of an ingredient on what you have is an improvement '26 over 2025. Presumably, inflation is going to be working against us as it always is. Can you help us, i...

What have you been doing vis-a-vis outside sales of containerboard in North America into either export or domestic channels

do you have a sense as to when you think you might be inflecting more positively versus the industry

is it pretty easy to switch back and forth between the grades depending on the variables at play

What has sort of held you back from this leading to perhaps a little bit more optimism on the outcome for the year

we've obviously had a very big move in the euro relative to the dollar over the course of this year. Can you explain to us a little bit how that's impacted results

I wanted just to come back to the first half to second half bridge, if I could. You're essentially assuming about 100 million to 300 million pickup in EBITDA

we've had some big moves in dollar, euro. I would have thought just on a translation basis that might have some implications

it looked like your lumber cost per unit were the lowest they've been for several years

what might you be seeing on like the solar leasing front

any implications and maybe there's not much, but that you think having them as competitor instead of 2

what type of single-family starts or housing starts level do you think are required in the different businesses to sort of sustain balance

what you're seeing in repair and remodel and what type of pull-through maybe you've already started to see

Does that color your appetite to be more aggressive on the sell side than on the buy side

Is that a function of just the mix of what you're selling? Or is it that you're seeing higher pricing for like properties

any intelligence on how you think that might play out

you are expecting a healthy share of your income to come from your TRS this year

on that OSB annual plan maintenance, order of magnitude, how much impact would you expect that to have in 2Q?

so that was $11 million in the first quarter. So does that $11 million disappear in the second quarter?

it looks like you're probably up 3% to 4% in the U.S. South in 2025 versus 2024

it sounds like in lumber, you actually have a fair bit of flexibility maybe you could make a little more wood in the U.S.