Mike Rehaut

if you saw any more volatility on a week-to-week basis

Are there anything that's offsetting that, that otherwise, you wouldn't see a potentially slight sequential improvement

I wanted your thoughts on that Obviously, today, you reiterated your outlook for $2.5 billion of share repurchases for the year

what percent of sales incentives were by the end of the quarter versus the beginning of the quarter

what type of reduction would you need in construction costs to offset that so that gross margins would be flattish without any help from better pricing

how does California and Pacific Northwest fit in there? And then if you've seen any change for the better or for the worse, marginally better, marginally worse

one of your competitors this morning talked about incentives now up each of the last two quarters, 70 to 80 bps on average. Sequentially each of the last two quarters. I was wondering if you're see...

anything that, you know, maybe is offsetting that rise in incentives that you saw at this past quarter or going into next quarter

I was wondering if you could kind of just review your exposure to Canadian softwood lumber

how would you say your incentives are holding relative to the rest of the market

how you guys think about further improvement on capital efficiency, what are those levers that you look to move

I would love to dial in into that a little bit and see if there is any regional differentiation that you've seen across inventory levels

does that reflect any regional challenges? Or maybe just more broadly, if you can kind of give us a sense of where you feel demand is stronger versus weaker

We've heard some of your competitors talk to September being the strongest month of the quarter. And I was just kind of wondering if that's what you saw

where are you in that journey of perhaps trying to establish that floor on margin

How should we think about 2026 now that your balance sheet is significantly repositioned

I'm curious if you could comment on if you did see any impact on demand trends across your markets

the Millrose dividend payments or option deposit payments I think annualized of around $500 million. Is that full annualized impact at this point, fully reflected in the 18%?

Is it more the investments that we're talking about? Or is it more due to the increase in marketing and selling and sales commissions

what the full or annualized gross margin impact might be from pushing that additional 20% of your land base through options

if you have any updated thoughts around leverage free cash flow

are we to think about let's say, the share gains that you've been able to achieve in the first quarter as sustainable

Was hoping to get a sense of DIY versus Pro and the different drivers there

what the dollar benefit you anticipate from those restructuring actions in 2026, and how much of that might be reinvested in the company

does that imply that you if copper prices today copper prices of today were to hold, that would be in effect a neutral impact on let's say, the second half of the year

it seems like perhaps you're now kind of talking towards the lower end of that guide or lower end of that down low to single-digit range

was the delta perhaps versus expectations a little more driven by the inventory-related reserves? Or were there other factors also at work

how that progressed throughout the quarter, if there were any kind of unusual movements from a channel perspective or from an end customer perspective

if you can give a little more detail there in terms of maybe unpacking how those actions would fall out

if we're talking about, you know, $200 to $250 million, maybe you could kind of dimensionalize that in terms of maybe what that would mean in terms of an average price increase

I'm really more interested in the trend line through the first, let's say, roughly four months of the year, both in paint and plumbing

Can you help us understand what is going on in Florida from a broader market perspective in terms of inventory

when you said kind of stable throughout the quarter, was that on closings or orders

I wanted to understand the assumptions, particularly as you anticipate your first-quarter gross margin, it seems like being sustained throughout the year

I was wondering if you could kind of go through your major markets if possible and, you know, particularly from a supply from an inventory perspective

How should we think about that mix over the next couple of years, particularly as your build times continue to come in line

it almost sounded like you said, you know, incentives are a little higher, but tariffs are a little lower, and hence we're able to reiterate the back half guide

if there were any outliers in the kind of drivers to, you know, I know it's only, you know, 25 bps from the midpoint of guidance to the high end

I'm curious if the reduction in closing guidance for the year, is also in some ways reflective of some of the volatility in April

where are the buckets that, that 1% comes from? Is it kind of just kind of spread all across the board? Or is there a couple of leading categories

just love to get around your footprint which markets maybe you would characterize as better than average versus worse than average

the carryover impact kind of like from an annualized perspective on what the cost reduction that you're on track to do the $2 billion by the end of this year, what impact on a fully annualized basis

if you could kind of hit on the 2Q upside that we saw, what are the offsets that didn't allow that upside on 2Q to fully translate to the full year guide?

the second price increase would be something in the order of another mid-single-digit price increase to North America tools. Just wanted to make sure that I'm thinking about that right