and Sherri, Thank good everyone. you, morning,
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and shareholder return. reinvestment We driving of of also with options our reduction business, assess allocation continually including all goal capital debt the the in
factors an do stock price In we given shares purchased at shares so third and addition, share repurchase In the it of our our we when to X.X we of $XX.XX. average common other of our believe price quarter, million stock. is appropriate
repair quarter driven we very activity of record driven awareness and heightened and the Now hurricanes, business in we following sales third lap tough comp which turning for quarter in our growth, legacy to our X, results Michael. Hurricane from slide XXXX the posted by a remodeling our as on Irma meaningful faced uptick
Systems current benefited As of Western the of the a of third and XXXX Western middle quarter quarter sales. Window from year in a we reminder, the acquired full quarter
a of lost caused current by approximately X% the was for million $X disruptions which decrease the quarter business we housing growth the Windows continued to decline revenue million. came we headwind. which achieve versus The our factors prior were Western $XXX operations impact result net related year, in of in Additionally the able legacy in a net at hurricane systems, in in the to The sales net to these quarter, at experienced offset Dorian. despite of sales California
being continued and quarter. two accretion margins We've Systems were an during repair our from key versus third and gross remodeling expected in mix in business Window from made by investments away quarter. Western down the offset legacy Our prior-year product shift unfavorable
The increasing hurricane our in was first southeastern of promotional on efforts investment heels region the Dorian. the
we in this this should increased short-term, the While impacted spin unfavorable ultimately investment future view margins sales. as result in an that
relates our gross impacting increase in products margin in lines. region custom investment product mix product Western volume towards than our rather a continued second to The
products custom legacy to comparison produce Our in continued margins our margins. accretive to
in labor fixed labor-intensive more productions our cost for the and better in invested customers. the near-term both custom in products lead we of times However, up order to direct to ramp provide
XX% unit, and business EBITDA basis control headwind in focusing Across cost we or X% product permits the our down sales of of our achieved adjusted $XX we XX% an markets, grew housing despite sales. legacy Western approximately the million quarter actually single-family quarter. core on efficiencies we lines in where second quarter, in a a In for our by year-over-year to were on continue the of operational forma third pro
We areas. through primary are growth three achieving this
custom mentioned we our strong growth are seeing in as products. I earlier, First,
adoption markets, the states. to Western XX% in X,XXX in continue year. our performance customer line emerging prior we strong seeing XXXX and in The markets which launched Northwest versus expand grew Second, in emerging Pacific footprint series Midwest is vinyl early
Third, commercial up the quarter, significant post our channel year. prior versus in growth XX%
profiles, and importantly price complex more price margin attractive then channels produce product these to point line. accretive is western the product than offer lower the While more product point volume typically and legacy lines
I'll the revision. markets behind key Next, our macroeconomic on guidance update an factors and give assumptions in the
quarter X, declined are we expectation decline year of growth. which lapping repairing to prior a our legacy slide on business, of versus In our the XX%, with evident XX% quarter. As line was XX% sales in remodeling exceptional
We rates expect quarter the fourth in continued had trends XXXX the of overlapping and of which growth XXXX, XXXX and quarter XX% fourth XX% respectively.
years in XX% previously have a sell Southeastern of of impact-resistant products increased In main in the we interest of benefits to as has Coast impact Florida storms. of growth by affected in our business East traditional to activity states outside addition window the doors consumer We core outside been believe and market, Florida strategic not regions increased and along core our focus result that product experienced in our market. Gulf in Florida Coast our storms recent in
that We products. are other markets our In Panhandle continuing markets benefits our of Florida efforts to awareness not been of the core perceived and increase as traditionally have the us. for
In primarily X% and permits where versus construction single-family business, were We has attacking new at due lagged. quarter year-over-year. markets in those legacy our are new construction to prior declining looking options second X% penetration year, Florida the different sales down
what reduced volumes we XXXX in the Regarding of large experiencing back XXXX. we projects, from of back experienced half are in the half
in marketplace. upon remodeling an will the uptick projects first and optimistic the in large of the we the that legacy volumes Overall, large project are XXXX in pipeline half repair in we expect We based and see quarter of experienced very quarter new into sales. experienced as which continue organic a construction to the we net in XX% against we've from comps trends we the XXXX, third growth compete fourth in tough year
to Consulting we permits, into rates. to include Real population Looking we determine households, medium internal believe single-family XXXX, correlations income. to reasonably values forecasted data not have and Estate home relevant our can rely John upon These from household data we future growth factors Burns forecast that
XXXX Our initial repair to flat suggests and compared for remodeling the in volume legacy, as forecasting XXXX. demand
primary the to in Window single-digits for markets in in slightly construction new Western be expect products in low our legacy the up XXXX. We
of are third-party years deliver specific believe activity. of financing to initiatives above initiatives we builder various of construction that adoption market consecutive production initiatives from and significant the These include hurricane deliver Regardless following meaningful marketing continuing Products macroeconomic the to performance focused in market expansion, we dealer Impact on sales. increased will three accelerate outcome,
expect implement will estimates. deliver these believe which these our we market sales initiatives, growth above We to
I'll Sherri the the to discuss financial back Sherri? call to Now over detail. results return in more
