North American Market Performance
Net sales in North America totaled $420.7 million, up 3.4% from $406.7 million last year, exceeding U.S. housing starts by approximately 420 basis points.
Growth in Outdoor Living Category
The outdoor living category experienced low-double-digit growth over the prior year, attributed to a growing product offering and intentional marketing efforts.
OEM and Commercial Market Growth
OEM delivered high-single-digit volume growth year-over-year, and the commercial market saw low-single-digit growth despite challenging conditions.
Improvement in Gross and Operating Margins
Consolidated gross margin improved to 46.8% from 46.1%, and operating margin expanded by 90 basis points to 19% over last year.
Strategic Investments and Facility Expansions
Investments in Columbus, Ohio, and Gallatin, Tennessee facilities are on budget and on time, with the new Gallatin facility expected to optimize fastener sourcing.