Financial Performance - First quarter sales were $1,233.278 million, a decrease of 3.6% compared to the same period in 2024 [7] - Adjusted operating profit was $194.147 million, a decrease of 9.5% compared to the same period in 2024 [7] - The company returned $215.6 million to shareholders through share repurchases in Q1 [6, 23] - Net debt is $1,067.4 million with a net leverage of 1.00x [19] Segment Performance - Installation segment sales were $745.533 million, a decrease of 6.7% compared to the same period in 2024 [11] - Specialty Distribution segment sales were $559.804 million, an increase of 2.6% compared to the same period in 2024 [15] Outlook and Strategy - The company is confirming full year 2025 guidance, with sales estimated between $5,050 million and $5,350 million and adjusted EBITDA between $925 million and $1,075 million [6, 48, 64] - The company completed the acquisition of Seal-Rite Insulation in April [26] - The company anticipates a high single-digit decline in residential sales and low single-digit growth in commercial & industrial sales for 2025 [45]