Financial Data and Key Metrics Changes - The company reported record revenues of $984 million for 2025, reflecting a 10.5% increase year-over-year [4][15] - Full year adjusted EBITDA reached $291.3 million, with a margin of 29.6%, down from 31% in the prior year [16] - Gross margin for the full year slightly increased to 42.8% compared to 42.7% in the prior year, despite macroeconomic challenges [16][18] Business Line Data and Key Metrics Changes - Single-family residential business achieved record revenues of $403 million, up from $372 million in 2024, driven by dealer growth and geographic expansion [7][11] - Multifamily and commercial businesses generated revenues of $580 million, supported by strong demand for high-performance products [5][15] - The company maintained a stable gross margin despite increased raw material costs and tariffs, reflecting effective pricing discipline [5][16] Market Data and Key Metrics Changes - The total U.S. construction spending is projected to grow approximately 1% in 2026, with residential spending expected to increase by about 2% [12] - Contractor sentiment has improved, with the National Remodeling Conditions Index at 54.5, indicating positive market conditions [12] - The company's backlog reached a record $1.3 billion, up 16% year-over-year, with a book-to-bill ratio of 1.1 times [10] Company Strategy and Development Direction - The company plans to expand its geographic footprint and product offerings, particularly in vinyl windows and high-end architectural glass [9][32] - A new state-of-the-art facility in the U.S. is under consideration, aimed at enhancing operational efficiency and meeting Buy American project requirements [63][64] - The board has approved an expansion of the share repurchase authorization to $250 million, reflecting confidence in cash flow generation and commitment to shareholder returns [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic challenges and maintain growth momentum into 2026 [32] - The outlook for 2026 includes revenue guidance of $1.06 billion to $1.13 billion, representing approximately 11% growth at the midpoint [26] - The company anticipates continued market share gains and strong execution in new geographies, with expectations for double-digit growth in both residential and commercial segments [26][54] Other Important Information - The company repurchased $180 million in shares during 2025, including $88 million in the fourth quarter [6][24] - The Colombian peso appreciated approximately 12% during 2025, impacting cost structures and margins [20] - The company is evaluating pricing actions to mitigate the impact of raw material costs and tariffs [40][41] Q&A Session Summary Question: Expectations for first quarter performance - Management expects first quarter performance to be in line with fourth quarter results, accounting for scheduled maintenance shutdowns [38] Question: Pricing actions and expectations for gross margins - Management indicated that gross margins could range from the high thirties to low forties, depending on input costs and market conditions [40] Question: Acceleration of U.S. commercial revenue in 2026 - Management confirmed expectations for commercial revenue growth in 2026, driven by a strong backlog and expansion into new markets [51] Question: Contribution from showrooms and vinyl products - Management expects showroom revenues to significantly contribute to growth, with projections of $30 million-$35 million in 2026, separate from vinyl contributions [60] Question: Impact of aluminum costs on future margins - Management noted that aluminum prices remain elevated, but potential softening could benefit margins in the second half of the year [74]