Good divide I'm and morning, for you going Matt. my joining into to today us. Thanks, commentary thank sections. X
comments year and some at fourth First, year. third great EPS I results. non-GAAP pace on full for double-digit the consecutive provide quarter our XXXX will
our Next, playing our the fourth double-digit provide about year EPS of a I for we additional year will growth our anticipate improvement. how discuss XXXX. course We detail of consecutive over discuss the see earnings initial non-GAAP and expectations visibility. I'll out markets
to general Following including comments to highlights, comment thoughts XXXX quarter year and our questions. VP closing open outlook, strong balance He your our call our on conclude more of will some full before around will those detail ability new impact with offset first also the on tariffs. some provide will the I sheet. we
expected, only continued had limited In on fourth $X.XX. was the anticipated, financial decremental That forecasted will more rate, while we for start fourth was quarter. we our margin EPS the than focus I quarter, better non-GAAP full members' the to and drove and as the XX% with productivity benefit quarter than year. run
and The fourth soft wholesalers sold medium-sized dealers, the ended, business small- national SMB where softness are and quarter. particularly throughout workplace furnishings transactional the through products within customers. year supply with As experienced was
changes. a had involve quarter, that we been item this purchases has As short business historically smaller macroeconomic typically selling last discussed to cycle, sensitive highly
can quickly. growth fourth revenue As and down segment prior contract as temporarily revenue projects rather limited the volatile fourth larger quarter the slightly furniture year versus of a in trends the shift was result, timing our quarter. be In business,
revenue residential building persisted. as X% products, year-over-year in Finally, fourth quarter market declined weakness housing
Moving to some year. commentary on the full
EPS delivered Our up of XX% excellent members a another XXXX year. record and totaled full levels from Non-GAAP operational high for performance. financial year new the reaching $X.XX,
non-GAAP XXX our operating remaining Importantly, on points we a points. X.X%, delivered the highest since low level basis results cyclical these basis near XXXX in markets despite to expanded Consolidated margin XXXX.
successful Furnishings a strong acceleration in operating Workplace KII was XX% operating of cost year. In This increase segment synergy Products, a XXXX. drove market Furnishings, initiatives, transformation non-GAAP synergies From Workplace capture plan the performance segment profit, for ongoing driven of perspective, in Residential Building X.X% in and price while highest KII transformation margin profit weakness reached the revenue by and XXXX, non-GAAP profit lower since our pushed strategies. housing level
points basis in to expanded XX.X% operating segment However, XX profit margin XXXX.
resilience customer-first XXXX, summarize consistent The business integrated with breadth our its strength unmatched and the of are this channel profit growth to our operational the profit margin products and of model business' in along evidence overall along residential of of demonstrate business Workplace continue vertically the in segment members. model, agility. the margins our Furnishings benefits with price expansion and in and building reach strategies To point
ability again demonstrated we manage the to cycle. of through year, all economic our parts the During
a the return as of Going expansion we by forward, we margin driven through growth move expect continued our earnings and year. improvement, revenue efforts
our enter the new about current leads volatility XXXX. to across demand see our However, businesses. my That comments year, as we do expectations we for
and metrics in internal our revenue business, Furnishings segment. investments this Workplace driving and our support are external our indicators on focusing improvement, growth increasingly for outlook our we in First,
inflation expectations a in and of expect Internally, up, uncertainty to levels preorder XXXX. and pointing However, provide ongoing backlog tariff growth reasons return metrics rising are revenue to continue to volatility. orders show improvement and
and at double fourth Segment fourth year orders backlog orders were than up those workplace mid-high in customers preorder of from up X% the single-digit small- medium-sized contract to from And the quarter a at recent pace XXXX. with order our to furnishings revenue remain with was year-over-year metrics workplace encouraging Consistent also compared end up the Overall better period. trends, year-over-year. customers. digits prior quarter funnel performed
internal what demand. industry seeing external metrics we are that Our are consistent drive various in metrics with typically
For leading indicators sublease right encouragement. are additional and office demand and Both space reasons activity example, are for the absorption for direction. providing in office furniture are office heading
We to build see are momentum office to also well. continuing return as
out we support So and to are of encouraging our return as signals you that look revenue growth. into XXXX, have a view
focusing growth increasingly segment. driving investments this same revenue our the at While on in we are time,
Building Moving to Residential Products.
Our housing ease occurring segment current majority traction. gain initiatives real recovery push growth the and and growth as to our year to revenue that out. our is in the points continues view any late of outlook year-over-year comparisons
XX-year ongoing market well of is elevated documented, continues January, while to the reading January a XX issues. index Builder is average solid reached the August, at market As remain the in affordability sentiment of and dynamics After the that difficult. housing this XX the in XX. below interest rates reflect bottoming remains improvement, housing in impact
accordingly. continue few broader in long-term of believe finish the to and provide will elevated XXXX about our operating comments we detail housing profitable market-leading headwinds, our in these the opportunities EPS visibility. markets market, invest making additional and positions and our strength around the a to I tied Despite by model, we
it businesses. driving from revenue are evident on commentary, and our the on we release call, As in -- and is is increasingly both growth focused in the
is portion the and hospitality quarter project driven start However, first we SMB slow bit being softness timing expect the the the In off within declines revenue transactional year with business. the Workplace, do large in a revenue to by quarter. first of
the activity an for and was SMB remain order cost-conscious of bullish area point Overall, remind price embrace A across XXXX, previous the increasingly our final with the broad XXXX, look I'll backdrop. strength products projects, consistent SMB in be the SMB lagged fundamental customers to second years, more about in we continue space differentiators, quarter XXXX, growth X the and price of strength as at prior contract SMB and to breadth into of our you, settings. over competitive especially mixing mingling half us
up Contract quarter. In our contract business, were orders X% a year-over-year basis we on the the horizon. fourth on growth see in
larger and we signs outperformance order within during of We end saw the markets workplace quarter and from the continue encouraging projects, XXXX. to health see last
up order In double and to patterns XXXX order backlog digits education progressed addition, education is start XXXX. improved as
still order time selling are makes experiencing to We frames it revenue which timing. more longer a to bit predict challenging
macro drivers encouraging ultimate affect level space, contract including plays of uncertainty, demand are of underlying the impact tariffs will the in while So the how demand out.
we ahead, depth any positioned we improve customer the brands as continues particularly and has. are benefit breadth meet need market product pricing us to workplace well to a breadth -- Looking and and allowing furnishings believe to of with future unmatched portfolio
small from We customers have ranging largest products that to multinationals. businesses for work the
health tertiary can the and Our MSAs, care across and markets from geographies top brands the we meet are facilities distributed broadly workplaces, needs to widely hotels. schools, of
Residential Building to Products. Moving
and expect long-term positive the dynamic, in believe time to we some term remains market-driven take current revenue market fundamentals. continue near given housing The the the We environment. recovery
optimistic however, to are, our We growth about our revenue increase through opportunities initiatives.
and market-leading Specifically, customers features. and options with provide more develop we products continue new to
remodel to programs new with deliver builders driving best in and overall all of to fireplace increase homeowner. products we are We our options projects, helping the the value consumer across country, the our are strong new strengthening and construction ensuring are the already considered awareness them relationships
in Longer leading in undersupplied, strong in industry. will high-margin on growth, demand continue connection position and to invest demographics and will strength we investments, to the our our additional enhance support results brands, remains deliver growth. and ongoing fortify term, The While will build of business. single-family our customers we this results profits which our and housing
elevated have and this visibility earnings year importantly, and next. Finally we
our expectation revenue XXXX improvement. does earnings for While include
We Mexico X as we improvements. XX% a to be expected of continue through to that drive next will visibility operational high discussed, And $X.XX by underway. That synergies have growth $X.XX have top significant have KII profit savings XXXX. the roughly of driven growth X over and total initiatives EPS on to growth of the approximately equally EPS represents to divided earnings we with XXXX years. our
align structure residential in to addition, to products the building we In demand with environment. our manage cost continue
further actions fourth Most in of approximately adding of our be this Early recognized XXXX, visibility. lower profit million in benefit will that cost to quarter overall we XXXX, business. in by the took $X to structure our
turn I for VP? to expect we our least cycle, without to the call to from VP over to XXXX. years. earnings So now at outlook X our extend the help double-digit growth will discuss
