you, Thank Jim.
have sales that Global customers from aligned local varying globe, with quarter Our our improved degrees higher Around reducing now based to believe their the result investments high levels on housing increased production of rates first sales, energy inventory remodeling market with and the We lower costs. segments inflation most conditions. and conditions. and are interest Ceramic
low compressed working we inventory utilization further reduced Our capital. asset demand and our and remained with
reduction Our and greater our prices. market This by the mix lower from flowing partially offset through and impacted materials energy which selling benefited P&L inventory. lower was competition
costs volatile. sales new defining reductions. in and energy world highly Mexico, have the cost they around And and strategies the continue product to be Brazil our executing organizations, realigning acquisitions we substantially While decreased, are and
new and commercial Our channels, and Ceramic the construction U.S. benefited participation from a greater service. consistent enhanced business styling in more
energy becoming and industry cost weaken, freight and market volumes the decline As is competitive. more
to stronger We are focusing mix, higher sales our style introducing channels. on improve products are and
our customer residential improve will levels. our inventory which as in We've offset while In the weakness our inventory. energy The decline the is further helping to through in reduced base, flows quarter, prices expanded high service our cost it we maintaining remodeling.
reduction have other in increased response and cost We taken actions inflation. to competition
are for we the portfolio, start additional we selections. channel and tile our product enhancing our expanding prepare and the As of and with bath complementary countertop kitchen countertop capacity,
business remodeling pressure as slow. ceramic Europe Our in remain under remains residential
declining low sales the quarter is to improved collections, in intense commercial becoming industry cost. and benefited volume more from of results in Competition channels and residential all products exports. and volumes due our Our energy premium sequentially,
We and to activities environment additional changing are volume. adjusting deliver using promotional to the
we our outsourcing. innovative utilize slab visuals porcelain products will are new To have we with portfolio broadening manufacture our been capacity, and
including formulations. on focus cost containment, to continue alternative overhead projects reductions, and We productivity
Latin our by also Ceramic our other have remodeling. pressured compressed rates, American interest businesses with higher As residential regions, being which are
product We of existing are integrating information the acquisitions further offsetting market cost will the have new weakening complete sales and to systems, distribution. the The our begun our facilitate our onto By are partially of we acquisitions, existing to total combined synergies opportunities. of expand we and the should businesses portfolio end sales making which and conditions. migration year, we leverage realizing progress are our our
economic is regions, the holding to by Of better impacted Mexico performing after rates, is conditions the being while Brazilian and longer. Ceramic two economy lower due up Industry interest now more
environment. recently that are the interest government mortgages sales rate We Brazilian will additional construction low softening it to new operational home and taking support the to manage has actions announced subsidize help economy. and The
from mix sales segment World rates a and the not we interest volume environment. of continues utilization difficult our Flooring low pricing spending the low production under manufacturing first Our and given pressure. costs, successfully industry declining in confidence manage has expected, as Rest war continues improved inflation, Sequentially, to remaining rates input improved Consumer Ukraine. With higher and and period.
cost reducing quarter, aligning and quarter declined, raw vacations energy material manage seasonally period. offsetting demand. our weakening extended volumes, and conditions. the lower costs sales segment's sales, pursuing third During and impacted with earnings by partially The additional reduce the which in is we're To will production
flooring our we European rising alternatives vinyl trade to Our To significantly outperforming sheet our has demand are sales across progressed. increasing are lower under consumers our costs. down price our vinyl The production. to meet are collections of acquisition pressure regions, minimize project sheet Eastern integration sheet vinyl as
to its enhanced sped products, have manufacturing offering with and another performance growing up We operations added shift higher its support volume.
specific promotions to with LVT expand present are are production new volumes. and products, introducing sales and demand laminate We merchandising to of align managing and
residential are flexible LVT announced this to conversion. previously from transition the restructuring We offering cores have our executing rigid to and to support begun
fewer to In use business, and due industrial conditions. slower decreased initiated projects our being market are has panels
margin of products are increasing We sales our we our HPL customer as expand decorative higher base.
utilization offset material energy plant by production. low lower selling our prices partially declining, improved and and costs, productivity green Our are remains our
considerable progress integrating sales aligning and operations, board including mezzanine acquisitions We have administrative functions. and strategies small their enhancing combining made our
strong, Long-term in investments increasing adjust fall pricing and conditions. and expenses prospects business industry input are supported is demand our markets. reducing increasing of we commercial declining for to are market is competition new deferred regulations. remain capacity costs Industry our Presently, is being conservation as and declining energy and residential as some government insulation by
Similar other inflation New housing to regions, softened and Australia our markets and due higher Zealand interest to the rates. have
introducing selective the promotions products our impacted volume. volumes for results increase are mix new were residential to quarter and Our by lower and in sales and channels, we
larger commercial our and capture were Zealand to Our innovative leveraging we sales in are collections stronger New projects.
industry. interest inflation conservative Flooring housing and the high as market has same have America North and rates faced segment practices Our our challenging U.S. more lending conditions, the impacted
expanded we enhanced functions we actions. further cost, retailers initiated quarter. the control seasonality As to anticipated, With demand mix, margins remodeling softer weak through flowing tightly and due residential the sequentially manage continued the levels, To and administrative impacting quarter lower costs in segment's in their streamlined and the to inventory. restructuring have productivity, inventory
energy With declining, material competition increasing. market raw is and cost
trade introducing attract and those product new some In New builders enhancing single retail, subsidizing our with budget family home To are up increase to consumer product interest we're consumers starts displays. friendly value for increase rates constraints. to we have with begun providing buyers. offering initiating alternatives options more activity, and to sales, selective promotional
The U.S. sector stable invest construction reflected environment projects. Billing July in businesses more Architectural to projects. proven and remodeling a Index The new commercial new has as continue resilient for
in and budgets. experiencing Street best participation mix Healthcare the The seek Main commercial, our some the We pressure are and customers Hospitality in to channels. channels maintain as performed quarter are in expecting we
a superior unique carbon as Our neutral deliver negative growing carbon with performance which products certified are they are footprint.
is sales. as relationships product we leverage Our commercial well to enhance performing our its accessories acquisition
our leading the to waterproof is performance. and of laminate premium realistic more producer Mohawk visuals due
broader builder We products RevWood continue to adoption see of in channels. and a both our retail
of increased enhances have We our offering Karastan revolutionary richness our Technology, and the Signature the of collections. Pergo which
are production pricing results. aligning mix reductions and current We implementing with conditions, our and to cost optimize managing
costs which along sequential improvement improved input the in from quarter. decline the In residential a margins seen in production sales with carpet, first and we've our
and retailer and are grow luxury our We collections have Karastan enhanced to Godfrey volumes. incentives providing Hirst
increasing builders, our single solution-dyed portfolio home position carpet negatively developers impacting expanded Our product with multifamily our polyester is mix. and
its our integrated operations. improving acquisition and sales and have recent non-woven We are
market in U.S. the LVT ocean pressures increasing for are freight With and costs, the decline
shipments. some market. the we inventory to Labor Protection Act changing as cost Higher margins adapted our reduced impacting Forced is
selected introductions visuals, Our with new WetProtect differentiated our vinyl consumers sales technologies more rose rigid in LVT and affordable sheet updated market, and options. antimicrobial us the as
Coast the West plant of ramp throughout up to Our LVT continue year. will rest the
With return I'll that, call Jeff. to, the
