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can you just elaborate a little bit more on kind of the shift that you've made there?
can you talk through whether there's any timing differentials on -- I know you mentioned fuel, but also on the commodity side that might be pressuring margins in the near term?
since you expect there to be growth in the back half of the year, even though it's a comp dynamic at minimum, like that's why your working cap is going to swing pretty hard year-on-year.
your guidance is still a wide range, including something that would be kind of notably worse at 28.5%.
it seemed like the margin came in better than your expectations in 3Q. So can you comment on what drove that?
is the content and size of home at least, is that a cyclical dynamic? Is it a structural dynamic? If you're calling this kind of normalized, are you taking a different view
Can you just help us understand from your perspective, the trust capacity environment, the differences you see on kind of nameplate versus effective utilization?
you did a 30.6% gross margin in the first half of the year
Can you just put a finer point on what drift lower through the year means you're starting at 30.5%, presumably, there's still some near-term pressure
your pro forma leverage does look to be a couple of ticks higher than your 2x range in an uncertain environment. So how are you thinking about balancing that?
from, you know, back of the envelope, it seems like maybe the Q1 guide implies something closer to, yes, 30% to 31.5%
it sounds like maybe a little bit more focus on share, which maybe means participating in some of the commodity dynamics
from a timing standpoint, if we start seeing price increases go into the market, this later this spring, when does that flow through to
I just wanted to kind of confirm, was that a comment that was sequential or year-on-year
I'm trying to get a better handle on what exactly we should be thinking about in terms of your comfort level on ramping specs specifically back up into 1Q
you did just close on the acquisition of SK Builders in South Carolina. I was wondering if you could comment a little bit more on how much contribution you expect
when you think about cost for construction next year on sticks and bricks, and then availability of labor. How are you thinking about things
you had a healthy result in terms of kind of the step up in rentals both revenue and profitability. It's still a pretty dynamic market out there
is that focus actually like shifting you to be a little bit more biased towards let's keep things kind of a little bit actually more kind of price and margin focus versus volume
it seems like there is something else kind of underneath the surface, whether it's on rentals or SG&A or Forestar this quarter
you have a little bit of commentary about the potential to seek relief or refunds from previously paid tariffs
When you have like broad increases in inputs and global tariffs, it's a little harder to get those savings from shifting footprint
I think if you're up low single digits with mid-single-digit price, so you're implying volumes down low singles
in terms of just the level of confidence or conviction getting to flat for this year, when it doesn't sound like you're assuming anything heroic from existing home sales
Is it right to think about that as a $50 million annualized impact if that came to fruition in terms of that $140 million going to something more like to $90 million to $95 million
it still implies like a pretty big step down in margins in the fourth quarter versus what's been really solid like 2Q, 3Q performance
is that dollar for dollar? Or does that include offsetting the $140 million plus your normal margin
if we look at one of your large distributors, I think the e-comm results have been under some pressure
is it really just like, this entire amount that you're outlining is effectively incremental
you do have exposures in Vietnam and Southeast Asia and Mexico. So maybe could you give us a little more clarity on your cost of goods exposure to those areas
are you trying to get down to the lower end right now given what you are seeing in the market
how much of that do you already have visibility on based on what you have sold over the past handful of months versus an assumption
does that imply the exit rate was in the low double-digit range? And when you talk about remaining elevated, are you talking remaining elevated to that exit rate
what ultimately catalyzed your decision here that it just for whatever reason, you know, this you reached the decision that this does not make sense
relative to that 8.9% incentives in the 3Q closings, how did your incentives on orders trend through the quarter?
anecdotally, it sounds like maybe a little more noise in the market in terms of some ICE-related dynamics. It doesn't sound like you're necessarily seeing that
Can you help us understand kind of what's like for like versus what's mix-related in that and maybe how to think about just the back half of the year
are you kind of referencing things that you're currently seeing in the land market? Are you thinking about bigger M&A opportunities?
Can you put a finer point on your year-on-year comparison in April sales pace right now?
Can you help us understand kinda how you view the down portion, whether those are businesses that are likely to stay within the portfolio