Christopher J. Klein
and for with quarter confident Thank have strong year. second to performance joining and very results in our Brian, thanks targeted us everyone for pleased the delivering I'm feel today. you, the for we the
met solid delivered expectations. teams The which Our Plumbing overall, inside very Doors again our be of momentum and was businesses continues plan on results and to our strong. overall
continue Across is first and to the concrete price company, Cabinet increases the going through we costs all increased the segments are and the well took we to actions the of in accelerate and Our saw roll business. transition repositioning labor material half. countering
in Our leverage into areas well positions XXXX us progress in the for these operating second half and XXXX. of stronger
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U.S. Let me view time some home the products on of first spend our market.
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up second than to quarter. and demand working picked construction the activity backlogs. half remaining solid is strong first throughout the contractors builders setting be and against R&R the and stronger half up New And with second
business some on me provide perspective let our performance. Now,
increased margin we nine is For expected. in year-over-year segments the were the and our expected by in inflation in Total rolled all typically inflationary now as segments. sales Operating was increases a solid we've second move XX.X%, to as we price at actions through all six improve quarter, year total. as pressures lag to prices months as through margin X% headwind company but lower operating
to Turning Plumbing; margin. digit perform operating segments target Plumbing growth sales at low-double the as to with with Global the envisioned XX% continues beginning Group our
margins, and organic both For we're working. the our capabilities the to sign industry-leading that new while outstanding, businesses actively continue to above-market new sales be the five last have maintaining delivered strategy and in we digital investing core portfolio. and market, quarters product clear growth routes row, is in a in a platforms Results
whole is platform, sales. developed the more true year a for millions products For has and team This brands example, professionals like sales brands incremental acquired our are recently business points. an as of into plumbing and together we XXXX price our dedicated and that this sales recently and has hospitality way synergy by of Riobel suite significant from across created ROHL businesses already formed is full of and a project bringing It example to team, double-digit with a new shipping portfolio. won acquired paving pipeline access in the legacy the GPG
and we've using and been and pricing analytic our primarily has informing our insights data and opportunities in customers. are enhanced our new been This capabilities channel decisions, e-commerce. Additionally, digital product, to growth leveraging retail to those bring
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will our to continue strategy. with for accelerated business Plumbing our growth position We consistent
take Our targeted and around billion acquisitions is business on billion should our the to by XXXX. organically profit XX%, In drive $X the continued at platform operating our of in as very market. three-plus next share we to about much industry-leading performance through margins sales total track Plumbing company over years. XX% grow $X.X our With growth to operating Doors, door the accelerated
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grow we our announced Doors Turning intent new on internally to the we through the the the our combine end our initiatives. call, both of and last Security aggressively, plan into the Doors to acquisition the and combination units more of opportunities Security, of leadership stated At quarter, Doors internal business sales to Doors our over this in Finley. margin a X.X in the approaching with and billion Brett third over the XX% roughly a quarter, leader, to XX%, potential annual Starting be $X.X grow operating approaching division next a segment in the sales and to single with $X.X organically billion years. under will and margin
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against semi-custom America. Four we and our actions in align that facilities vanity on Throughout come. we've premium Turning Cabinets; manufacturing strategically of In around remaining supply give cabinets, steps our a with we eight Cabinet to semi-custom, further to early XX cabinet To our to been began XX mid-tier the businesses. value against the year, chain some clarity in-stock we with stock North the manufactured year business. you number quarter, actions, executing our plan supporting year, our producing the across impactful strategy. context plan to our more and the pivot cabinets still and took our provided cabinets,
laminate set areas of the products of mid-tier consolidated to our facilities experiencing at over vanities cabinets and semi-custom and of plants capacity stock cabinets of plants redirected capacity manufacturer responded these operating points paint by growth price price our these eight At some two and vanities, in plants in affordable actions same of in decorative the the strongest DLV ramping forward. the manufacturing to where expanding we expanding semi-custom. the our included that time, leverage in-stock a and Texas a Mexico existing facilities, in we products footprint to cabinet new and volume greater our to the softness capacity closing increase market at produced veneer and the generate for of and footprint and that segments are points. cabinetry and builder value going and six including products. we builders, in cabinets, semi-custom in-stock automated Midwest adding our These new We undertook Specifically, up launch actions value remaining Carolinas, expanding several facility existing
in resume the as margin provide execute to network, mix expansion the predictable beginning three take partners, to over four actions years expansion builder our which to as to quarters into a healthier, will industry-leading strategy, half actions value continued next next setup we us business key this second drive aggressive will next the pivot the continue will more tangible year dealer and position These homecenter We business for our we XXXX. of the our add of and year large through and relationships. over four on
With laid cost the our margin to mid-single our margin out have with ability the achieve flex XXXX by actions May down improvements the chains operating and to XX% sales we progress making digit growth. to path capabilities supply second solid took we quarter, consistent from structure in significant we're the and in we and the
of and overall was quarter. growth well with So, on the the we're continued year even double second and expansion to offset to price mid-single digit nearly ahead other margin digit are in and EPS of unfolds. to recap see positioned pricing actions solid as run sales the inflation inflation to taken growth it as Despite headwinds, these benefit track the the we've quarter,
part longer took us in quarter our for change businesses, I'm deliver our and plan. to the years of well in level encouraged very the a position our this us and profitability And come. the of our with of regarding innovation, strategic for to also second new combination capabilities portfolio Doors progress important we this Cabinets Cabinets steps will business. in We and especially acquisition half made position have Security term, the pivot to to
quarter shares spent $XXX on the incremental wrap in XXXX. I plan in to million create repurchases we've Year-to-date our long-term up, review deployment July, share broader for far Before let me million capital about XX over so our value. through and
for authorization As in press week, last we another remaining a announced in have release repurchases. million $XXX we
activity. EPS So, outlook share are plans years. we outlook outlook feel with our over comfortable maintaining on repurchase based the drive increasing our good our and to about our and next value current XXXX sales We're three
significant see in FBHS exploring very we potential shares, value remain active While in acquisitions. we also
potential a working targets see we and currently pipeline are with to XX on the coming months. opportunities We in acquisition that next robust market of discussions are engaged in
today, commentary While we announce not half to unfolds. do year second further provide have the we'll anything as of the
over an billion additional to to reminder, three value. believe and to years, additional we shareholder $X acquisitions, deploy power we a that dividend to next create to have As the strategic $X make continue the incremental our repurchase increase meaningful billion shares
like Now, will review turn for XXXX. performance call to on and the to over provide our Pat, who outlook our detail I'd financial EPS
