And you all. morning you, good Thank Scott. to
be revenue some positive proved headwinds and significant challenging Our quarter first comps. to despite
performance We earnings our per are particularly share. our very pleased adjusted with financial to related EBITDA and
prior volatility over Net channel. X.X% Within were fiscal business we down continued our quarter whole sales business with by the as new for X.X% for a the grew construction, year.
PCS in year-over-year decline. Timberlake direct very a experienced Our Southern California our comped while business business favorably, frameless
our strategic market competition, once the alignment and with direct business Timberlake Our our again outperformed expectations. in
considering between XX X.X% in to of comparing home the to our and market even XX more decline growth our Our lag evident to cabinets. success install a moving start day the the when is
recently in lower product. even is point price Our platform our Origins reflection and direct-to-builder current share market to continue to offering a expanded with of gain our the service ability our
builders, point we to price towards challenge price homes a are shift lower opening remains for the beginning see a to movement the Although definitely point.
lowering homebuyers, first-time Consensus among strong with builders rates. remains towards particularly mortgage fairly
are As quarter, within region Timberlake. we reported by last experiencing volatility
Comps Northern California. remain Southwest strong Atlanta, the the Texas, in and Northeast,
We but second year. remain of continue temporary they Florida, particularly builders head it's half as confident, have the as their softening experienced to into some in believe fiscal
our PCS With construction regards that housing starts. Southern a to in continue concentrated market, new to is we in business decline California experience
of On more trend this the favorably overall in the expect comps remains do positive, we did year. land, with materials Housing infrastructure by fiscal a critical driven quarter. to into in continue head throughout to half We second affordability fall, to labor, this and the issue the region, cost. improve in the business as positive our market comps of hopes restoring comps the our
we we It Southern data shows as is also on to that, starts California comps, in despite the market in side. Timberlake did this negative important our note overindexed
Looking at prior businesses, home center revenue distributor was the to remodel business, which X.X% and includes year. our down dealer
positive comps Our center stock X.X%, combined down negative our business and business with comps within home within was made-to-order.
believe levels continues it the will have made-to-order, an particularly center all and seen increase home promotional and higher be challenge suppliers do in along even to our with business, Unfortunately, pleased stock in the vanity. comps made-to-order positive We our bath We're we comps, promotions with a be activity. lower Within for within to not partners. elevating effective.
the challenge experiences so consumer that too consumers is complexity during to purchasing to a inherent Although wanting the process. and ideation a affordability is remodel,
a of it designer Not our the appealing relaunch simpler that our also how consumer. key of is series complexity be program attacking frameless this a we in to did at younger is can indication partners, it with seen much only platform. new important product An more is and one
the platform future. and experience to double-digit continue so on this into strong it remain growth We expect to
of focused As made-to-order only improve remove superior cost our that but we complexity structure within are will business. such, customer the on experience, not very offer the to will strategy
comped dealer KCMA relatively semi-custom, overall sales, were accordance our distribution was distributor to with In Regarding continued business, we distributor negatively. data, strong down quarter. dealer the and for the particularly declines. while flat, X.X% within show Dealer
story we're trending channel more is year. the down order very past consumer Demand the for over The higher-end, by has affluent in within similar dealer center. been special home what to seeing the cabinets
Unfortunately, consumers. into within dealer, time, lower move same price imports. the the point an downward industry point in impact by seeing from the is we're a price At as Chinese more the shift of new space consumers seeing
a standard found only below with American-made prior construction well price cabinets. is what point American count, comes and lower achieve. this can product their on a higher-level, features all manufacturers with Albeit SKU other And
Although Alliance of Cabinet whole tariffs, premise American this been tariff The the at they're cost the of was This price with so product delta still Kitchen that, the cost by anti-dumping significant impacted far, selling manufacturers. point below increases has local is the lawsuit. thus even a
successful countervailing initial was The earlier month. this duty
However, duty tied will the October. findings in the to most significant be antidumping
be to outlook. we as feel current AKCA there a our result, successful Within is revenue will Woodmark, the American believe and, potential upside
the the lower product point price at right to successful. have We be
revenue, summary on of In and channel variation within bit a geographical by quite regions.
growth we the has industry. continued and market outlook certainly confident Although the year long-term the slowed, this remain for housing in
is improving. that, homes is remains affordability news good interest with The rates, lowering affordable key Building a bottleneck.
However, overlooked the confidence. our consumer with labor micro drivers as as and impacting and inflationary in factors industry overall land well macro economy and the material, be housing cannot
that starts on positive The turn good news growth in is year-over-year July. single-family
overindex digit platform. will at we to We with rate trend believe gain favorable share continue our direct expect for the fiscal a our the growing industry and going low-single with forward, industry We year. a
see growth ability is to move construction, kitchen adapt industry continue and for in point. a the remodel all industry new the change. within will to us As the Future dependent upon down price in
our targeted what and them they attributes point demographics. the customer, on important undergo impact to This to how a where pay. be what major are they're change in they very beginning to price a shop, shift have to believe significant willing We're will I shop, buyer
Personally, generation remodel change. buyer, construction. next well-positioned shift very I within to as We this new the to look well believe as both to forward this we're make
We for have diligently solutions tomorrow. and today and systems products are working the on right innovative
However, complexity shift will must deliver current closely work retail to the critical experience. to as value stream significantly as be within superior experience future Minimizing with digital model. our the the buying the we partners customer also leveraging and ensure we a and space well state product consumer
continued very to continued job headwinds, to and at had of work leveraging on despite This an do finished margin, the last teams first efficiency significant I Moving improvements. on mentioned a our significant we XX.X%. our gross quarter to outstanding that operations drive impact our quarter. quarter cost
costs offset associated beginning managed associated our costs to of to overhead facilities of We much California loss one and the of particleboard tariffs, with the the supply with relocate disruption. absorption,
of major thereafter, the Regarding shortage shuttered the industry experienced a particleboard close fire plants two This the one to left plants. particleboard supply, Shortly that significant reported a large they US. made in particleboard. remaining within supplier previously that capacity their particleboard we with unexpected decision also a
simply customers alternative have where teams very substitution did a including quickly amazing supplies, our of expect, job appropriate. to product our finding always As come
what company. cost impact avoided the on and have impact, more our we will we our very details provide Although shortly. customers, Scott material expected been with detrimental could've thus variance a a you impact on
recover we our are as much with currently insurance can. cost to of carrier We the as working
impact the determined to However, a be net final headwind. potential is remains yet and
Scott provide will duty. the to with some cost countervailing detailed also and related you the data tariffs
related tariffs. As a pricing any action reminder, we to taken have not
the on be mitigating to and our difficult hard on purchasing X glides continues impact a offset business. team simply tariffs has items sourcing XXX the hardware cost to of side exposure such to expansion work of to would announced include direct Our as the September options. material our due limited on on and The
for continue driving However, the improvements we pricing and evaluate will we remain action. focused efficiency on to need internal
finished Moving at XX.X% on quarter margin, year. prior EBITDA we from versus XX.X% to adjusted the
As cost previously, with are performance. I considering pleased mentioned this we headwinds experienced, we the very
driver of team and proud the as SG&A the how we is been efficiency operating the extremely work accomplished as integrated once operating well has results. platform driving lower united of costs. key on We're again The
quarter, earnings And prior net adjusted $X.XX million was $X.XX versus up we from $XX.X million On adjusted share in year. the diluted in year. slightly income, per our prior generated $XX
generating We paid year. to net pleased term Lastly, our very continue free prior leverage with our $XX our loan of be of million cash in flow, million $XX to cash we down $XX.X million versus reduced X.XX. and flow
significant In summary, market financial quarter disappointed are growth, corresponding a headlands and overall overcame cost we the in and our strong we return. although generated revenue growth in
continue from to our and high We ability the at capitalize platform in operate remain efficiency to level our of confident to cost synergies on a acquisition. in
in California particleboard the continue, of will headwinds tariffs, relocation impact the of facility impact of notably supply However, the cost our net most issue. the and
market the revenue, Regarding is volatile.
to construction the as improve fall. head new we into expect We
are rate revenue platform Our is low-cost synergies in due expected running our performing at well, very lower market. a the the to slowdown than yet
to product. transition Origins however, with homes gain to accelerating, lower point The we remain share our and is price continue to well-positioned
well very partners. increasing I as with with is as dealers. strategic our center the both remain am challenging. within centers We with Home our on focused concerned home level relationships promotions of
firmly and strategic next consumers. impact consumers. believe focusing that connect not that complexity We're the previously, stated I will with is making As to reduce best this investment on investments generation the
to we business, stock continue our Within do growth. expect to see
we capitalize grow to and on bath our synergies strength and both ability as our of in confident revenue are businesses the platform. kitchen We the
that Overall, right. be accept more makes our important Yet, we to short in the know longer-term we it we term future the increasingly will that that get this difficult. predict industry also even trying
this, On confident. extremely I'm
future. be launched teams we only recently be Not never and our imagined. we already vision the will generating for new ideas future, we driving ready the Our before thoughts is challenging will and
will With that, back Scott the to I financials. and thank you turn over detailed I for it now
