Rafe Jadrosich

could you just help us understand how you handle sort of higher diesel costs and some of the inflation.

on a year-over-year basis, has been down by more than lumber over the last few quarters. That spread, is that just the different end market exposure

I'm wondering if you could sort of just remind us on what you saw in terms of market share through the year

if starts stay where we are today for the extended period of time just because of the macro, are there levers that you could pull from a cost perspective?

your EBITDA margin is 300 basis points above where you were in 2019. It'd be helpful if you could just talk about like how much of that is mix, productivity, scale?

is that more on the commodity side or manufactured products? And is that -- are you seeing that broad-based across the country?

it implies second half growth over the first half, which is a little bit stronger than what you've done sort of historically. Can you just talk about some of the assumptions

Can you just talk about how big that is today as a percentage of either EBITDA or revenue? What is the margin profile of install

at the 2023 Investor Day, some of the long-term targets you laid out, you were assuming 4% market outgrowth from share gains

Can you talk about your exposure to land banking, maybe as a percentage of the option mix and then your ability to actually slow down the pace of the lot takedowns

can you help us at all with how we should think about the community count growth in the second half of the year

Is it flattening out now Or is there still opportunity to take more cost out

can you compare the market today versus, say, a year ago in terms of the demand and inventory that's out there

the delivery outlook seems like it's more second half weighted. Can you talk about like the starts pace and community count that you're assuming

Can you just tell us what the year-over-year increases on lot cost? And then what you'd expect that to be through 2026

If we were to sort of normalize for that, what are you seeing for sort of underlying lot cost and inflation and just given some of the softness in the market more recently

when you compare the performance in the larger markets that you operate versus some of the smaller markets, maybe where you have more private competition. Is there a big difference

you've pulled back on starts here and the market is a little bit softer. Have you seen any relief there on land

Is that just an improvement on delivery growth that will get you leverage? Or is that like if the market flow remains soft, you would reduce spending

have you continued that pace of buyback quarter-to-date? And then how do we think about sort of the pace as we go through the year

Can you just run us in what that implies for the year-over-year trend? And then how do we think about that for the remainder of the year

Can you talk about what you're anticipating for land inflation in the first quarter and then through 2025

can you talk about what the copper price is embedded in guidance for the second half of the year

how much would you attribute to just broader consumer resilience and the category holding up relative to your market share outperforming

how much of that of the impact is being like in your P&L today? And how do we think about that going forward

are you -- is the plan to fully mitigate in 2026? And then of those, you listed a few things that you're shifting supply chain pricing

can you just give some more color on like what the exposure there is by country

what did you see in terms of what you saw in terms of sell-through in the second quarter? And like what drove the improvement

can you talk about where you are in terms of finished specs per community today and where you want that to be

Can you talk about when that would potentially start to flow through your P&L and on the actual cost side?

Can you just talk about how you would expect that to trend sort of through '25 or maybe even to '26, like the land that you're contracting today

Just can you talk about from a regional perspective were there meaningful differences with the incentive level?