Thank you, you earnings our appreciate everyone. Dick, morning, XXXX quarter good We call. third joining and
we made created third quarter demonstrated margin. the that structural changes business have The also in in changes structural operating our
and to growth As we profitable spot pre-pandemic business more secure value structural our to a style normalized drive our economy, look more on in at create to we are shareholder enhancements focused chain to the value.
our and the do opportunities quarter grateful of team. the have drive overall and forecast, are internal the results. work for know to of positive our to work we third and and experience results were change more in We financial with our line more The skill, we hard
those we we continue felt in a customer slowdown our saw parts weeks, and in always, recent base. of economy more We Packaging to segment. effects acutely our different As in in the uncertainties face
margins remained and above exceeded volumes share slower of lower internal sales a XX% $X.XX of in earnings spite our Our in EBITDA forecast per economy.
of to our way chest when We to have million contend advantage accumulated opportunities environments a expenses expect and we sales interest war take have with. the acquisition higher targets more normalized to $XXX come
might I'm like of to capital the spending And words reminded there force while stop Bing, when sailor, "You who have drunken of a tempted be Chandler is we the Q-tip resistance". to said,
our be continue capital we So prudent to allocation patient path to the our for will and shareholders. in and the best follow return
would later principle. business performance, than our Return call, the on I indicators on look expected our the investment at opportunities that some the depth investing of in for our in few remains like going will Mike and segments to Rather share in us, a guiding impacts to cover future. financial which and review affect units macroeconomic
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react what and We will happens have next wait and see to accordingly.
rates mortgage are for of pushing due to lack justify homeowners existing home been sales vast less many of have existing Single-family which along part housing, majority in now have X.X%, homeowners rise the difficult home rates, of to a it and with short-term than the makes X%, In move. in a resilient mortgages resales.
high cost particularly all credit who Inflation costs Naturally, economy debt. consumers, this debt. energy by all-time prefer to adding consumers least to afford and as card costs consumer hurts remains to Inflation policymakers and slows it. those all higher. consumer related making and the can the This seem elevated contributes record
in a would QX. second not a business half and advised in slowing XXXX, smooth February we perhaps drop that the year in XXXX be rate Now with
the that in our circumstances slowdown under well. so Our off and innovation I performed or by occur believe value-added and prediction team products. and on likely more to decreases months executed their as while the then now are X plans occur investing will well has are we rate XXXX and in
to and afraid. uncertainties are We are used not facing
walk this road through will weather, or whatever storm, cold teams Our together the warm.
as let's segment With look individual at these outlook. the performance factors a backdrop, and
Retail In as contractor. for value-added Solutions a distributor, the manufacturer DIY seller provide professional self and products the consumer as as solutions our well
in Our each is will the marketing help product believe taking value-added development, categories shape, I but spend. our improve brand only around and three not also with of better mix product families new consolidation will target these product and focus
continues line in quarter, sales trend The the but similar target. were our margin still its reasonable products. brand treatments ago year strengthen to a create enhance better building its chemical In on the team below than to its of QX, and ProWood appearance using Performance a team margins and performance, and Solutions to focus and second maintained the ProWood is better durability which well
expand in an to capacity when product results solid plan online and year. has quarter third DecKorators new the exciting its next offerings comes again had
X%, and forward. in business in expand retailers we provide the unit provide area we substantial opportunities to that XXXX expect volume now go-to-market Big to a service find, has today, in see and innovative distribution pursue and purchasing and but box UFP-Edge expected and Finally, new and new to network our the the believe Regardless, build unit our is best to XXXX. value. customer will will utilize which structure strategy, products X% made and with products reach, declines underperforming to XXXX brands of expertise right national and changes harness success the rebound select solutions to going will strategy build
well the In down business QX, very Site again, market. in unit performed in Built construction, a
files demand working Most now at present, in with we a little their QX first during are half shifts order softer solid overtime. and the remain normal Site our expect While facilities XXXX. Built of
be competitive solutions. to value-added desire advantages continue we to with and the the better, supplying innovate and and most With efficiency different create
innovation. operation will in and automation, efforts now is be a Massachusetts efficiency future for Chicopee, in facility new model Our and at
low both market the housing business at level. drive Built volumes as customer The RV to well by the market. still as is manufactured unit and Factory unit share the taking in the taking impacted solutions opportunity products new is to
In the segment, the business guide experienced and continue strong uncertainty results. to management our through any on rely team we'll produce construction to to
packaging softer side, automation manufacturing. packaging product consolidating many will demand using its cost-effective structural quarter. be the has of rationalizing more from the seen capacity On in customers They past to drive manufacturing,
as manufacturing expect of a we than all efficiencies, improve and continuing In jack across we a facility to addition packaging drive engineering, organization be to the each trades. sales approach holistic have marketing to rather
will even include solutions has Higher better of our pricing efforts sales of some inventories who globally nationally and for storage pallets. high are used customers. pressure PalletOne provide our leveraging Our design rates to and have a competitors felt result as and highly oversupply hurt costs leveraged. interest expertise an
The long-term outlook strong. for UFP packaging remains
advance the to innovation We of and acquisition provider. to packaging invest our becoming goal in automation, solutions global will continue
outlook, to From to to as -- driving our as expect efficiencies. are grow align in production combining more Again, locations change runways with gain an economic we demand slow. in packaging manufacturing some rapid while others fewer we well product providing
team to third the Suller On during Spain in provider. its the be of packaging acquisition quest solutions Palets front, quarter, further completed our international the global to the international
product include value and new focus of areas sales. Other
$XXX.X the for were sales year-to-date were and third product $XXX.X quarter New million, million.
to lumber of in large target behind million We lower are -- pricing. due market the due $XXX to part of running annual level the our
that annual plan future ensure new the as we are our to new continued beginning and want raise are utilizing capital new the critical products product. new our to bar opportunities. product We of inclusion our success, review on we sunsetting a best for Innovative and to are
and focused more we transactions organic still robust, continue at they M&A a targets strategic values good believe become has rising with on future normalized the best rates. projects. are not pipelines become and we opportunities, the or opportunities but to in achievable will tax reasonable evaluate growth Secondly, more are runways, whether as M&A for growth economy
to and addition more repurchases, facilities. share environments capital in dividends will to automation, in our and better drive be innovation deployed work providing more Third,
The June. U-X versus index the Fourth, unemployment to September at the at was end human up X.X% of end capital. of X%
in marketplace applicants in next more well. will be as expect We the the quarter
We manual automating for to educate as as more well functions. positions and continue more train skilled labor
September in of leadership levels school program, XX ensure students of plans. that all graduation the the our advanced our help our whom of talent XX in can are growth October of students UFP strategic next and generation business We leaders us like investing match graduation will
Now I'd like to review Mike Cole to turn to it the over information. financial
