Susan Maklari

you mentioned that, that regulatory change got pushed out for a year. Can you just give us more color on what drove that and how you're thinking about the demand there now for the balance of this year

You mentioned that you did have some pull forward around the pricing that you announced. Can you talk a bit more about how much you're seeing in there?

can you talk a bit about other areas that maybe also noncore or things that you'd like to deemphasize?

Can you just give a bit more detail on how you approach that? What was different relative to the past

just wondering if you could talk a bit about the North America water treatment side. You got it for about a 5% decline there this year

How would you generally characterize the tone of the conversations that you're having with customers? What do you think their appetite is to restock over the course of this year?

Can you just talk a bit more on how we should think about the path from here and your ability to get some leverage in the second half

Any thoughts there on potential upside or changes to the guide? And how you're thinking about balancing investments in growth relative to the dividend and the buyback

can you talk about what you're seeing in terms of some of the they're feeling today, your ability to perhaps leverage further M and A

if we do see somewhat of a lift in demand as we go through this year? Do you think you could continue to maintain that flexibility

Can you just talk about how you're thinking about the potential for any further upside to that

how the change in the macro has perhaps impacted that business, and any thoughts on the outlook there

If the Fed does cut less than expected or fewer times than expected this year versus, say, last year. But rates realize some level of stability

how much of that can come from your own efforts versus a shift in the overall market

can you just talk about the demand that you are seeing on that rental side? And how you're thinking about managing that

We have seen lumber and wood product prices generally inflating over the last several weeks

where are you in terms of the core plans? Can you talk to what percentage of the deliveries today are coming from that

could you talk about where you see the upside to inventory as you think about the construct of those [ new ] areas of focus

How do you think of where you can get inventory turned over the next several quarters given the environment that we are in? Can you hit that 3x number in this kind of condition

how does that play into the cash that you think you need to hold on the balance sheet for the business? Does it change that at all

can you talk about the cash generation of the business? And how you're thinking about the uses of that cash, especially in this sort of an environment

Can you talk through how some of these company-specific efforts are continuing to come through even as you moderate or adjust the strategy?

Can you talk a bit about where you are in terms of integrating that into the business, how that perhaps benefited the improvement in inventory turns

do you think you can eventually get to 3x inventory turns? Or where can you get to with the turns?

Can you talk about where you are within that? And how we should think about the progress that can come through

does that change how you consider acquisitions. And can you talk about the kinds of deals that you might be interested

Can you just talk through some of the pieces in there and how we should think about that coming together

Can you talk about what that means in terms of your ability to drive growth over time

Can you talk about the path of getting there, further potential to that as conditions perhaps normalize

can you talk a bit about the executive committee that you formed there? Some of the initiatives that you're going to be really focused on

Can you talk a bit about the timing of that? And also, what you're seeing in terms of other uses of cash, such as the M&A environment

Can you talk a bit about what is driving that strength, the outlook, the ability to sustain that

can you talk about where you are in terms of the lean initiatives and the cost saving efforts

how are you thinking about the state of the consumer today and how that mix is impacting the business

you mentioned that you expect working capital to normalize to about 16% of sales this year

can you talk a bit about the innovation pipeline that you have, how that's perhaps offsetting any price elasticity that could be a potential headwind

are there different variables that you need to see in order to get some of those markets that are underperforming to come back?

Can you just talk about maybe some of the puts and takes there and how we should be thinking about the next two quarters?

Can you talk about your competitive positioning? What you're hearing from the sales centers and your customers in there?

given the geopolitical environment and the moves that we're hearing in consumer sentiment. What are you hearing from your customers on the ground?

Can you talk about what that inventory build that you made in the fourth quarter will mean for profitability?

Can you talk about how you're thinking of organic growth, given the investments that you've made in the last several years relative to the inorganic growth opportunity

Can you talk a bit more about what is driving that and how you're thinking about the trends that you're seeing on the ground as we exit this year and maybe even into early 2026?

Can you talk about how you're thinking of the investments and the trends that we should expect into the fall and year-end?

how are you thinking about the elasticity of demand in the industry? Do you think that some of your suppliers are thinking more about price versus volume

how should we think about what that will add to the year, especially given the strength you saw in the second quarter relative to some of those incremental headwinds

Can you just talk a bit more on how you're thinking about those coming together as we enter the core of the season this year

Do you see any risk to the industry perhaps testing some of the price elasticity that we've seen

Can you talk about how that will contribute to your outlook for sales to be flat to approximately up this year

are you seeing that there's growth on the DIY side of the business at all or any shift in that

Can you talk a bit about pipeline that you have there

Can you talk about your ability to continue to drive profitability really across your wood products

How are you thinking about the positioning today? What should we expect going forward

How are you thinking about the potential for further capacity to come out of your business

how are you thinking about balancing your capacity across the Wood Products space

Can you talk a bit about just the overall environment for timberland acquisitions

Can you talk about the implications across the various wood products and how that could potentially come in?

how you're thinking about inventories heading into the spring and the busy season there