Net sales from acquisitions increased net sales by 1.9%, partially offset by commodity price deflation of 1.7%, while core organic sales remained flat. The company acquired Quality Door and Hanson Truss for approximately $59.0 million.

During the three months ended March 31, 2024, the Company repurchased 0.1 million shares at a weighted average price of $202.67 per share, inclusive of applicable fees and taxes, for a total cost of $19.6 million. On February 22, 2024, the board of directors approved a new $1.0 billion share repurchase authorization.

The company is focusing on working capital management by closely monitoring the credit exposure of customers, maintaining the right level of inventory, and improving payment terms with vendors. This indicates proactive management in a fluctuating market.

The company strives to achieve the appropriate balance of short-term expense control while maintaining the expertise and capacity to grow the business as market conditions expand. This suggests a strategic approach to cost management.

The company's revenues and operating results are dependent on the homebuilding industry, which is subject to economic conditions including inflation, interest rates, and consumer confidence. This highlights the sensitivity to macroeconomic factors.

Changes in market interest rates could affect our interest expense. Borrowings under the Revolving Facility bear interest at either a base rate or SOFR, plus, in each case, an applicable margin. The Revolving Facility also assesses variable commitment and outstanding letter of credit fees based on quarterly average loan utilization.

The company believes it is well-positioned to take advantage of favorable long-term industry trends and to strategically increase market share, both organically and through acquisitions. This indicates a proactive approach to gaining market share.

The Company completed a private offering of $1.0 billion in aggregate principal amount of 6.375% senior unsecured notes due 2034. The net proceeds from the offering were used to repay indebtedness outstanding under the Revolving Facility and for general corporate purposes.

According to the U.S. Census Bureau, actual U.S. total housing starts were 0.3 million for the first quarter of 2024, an increase of 1.3% compared to the first quarter of 2023. Actual U.S. single-family starts for the first quarter of 2024 were 0.2 million, an increase of 27.0% compared to the first quarter of 2023.

A composite of third-party sources, including the National Association of Home Builders, are forecasting 1.4 million U.S. total housing starts and 1.0 million U.S single-family housing starts for 2024, which is relatively flat and an increase of 4.4%, respectively, from 2023.