Reece Ltd股票在澳大利亚股市近五十年来跌幅最大，原因是这家澳大利亚的管道供应公司公布其全年 利润出现下滑，并警告称美国住房市场仍存在持续疲软的情况。虽然Reece在艰难的环境中取得了"还算 不错"的业绩，但花旗分析师在一份报告中指出，"美国宏观经济仍是一个令人担忧的问题"。据收集的 数据，该公司约57%的收入来自美国。 该公司股价暴跌了多达22%，这是自1978年6月以来的最大跌幅。此前该公司截至6月30日的年度净利润 下降了24%，至3.169亿澳元(约合2.05亿美元)，未达到分析师的预期。该公司还表示，鉴于购房能力方 面存在的问题，预计未来12至18个月内美国房地产市场将受到限制。 Reece的谨慎态度与众多涉足美国房地产市场的公司所发出的警告相呼应。James Hardie Industries公司 (一家在悉尼上市的公司)的股票上周经历了半个世纪以来最糟糕的行情，原因是这家建筑材料制造商警 告称房地产需求疲软。James Hardie Industries Plc(一家管道产品公司)的股价也受到了冲击，因为该公司 表示销售前景不佳。 ...

Financial Data and Key Metrics Changes - The company reported record fiscal Q3 revenue of $194 million, an increase of $19 million or 11% compared to the prior year [4][8] - Adjusted EBITDA for the quarter reached $42 million, reflecting a 14% growth year-over-year, with an adjusted EBITDA margin of 21.7%, up 70 basis points from the previous year [4][9] - Adjusted net income was $25 million, with adjusted earnings per diluted share of $1.48, representing a 49% increase from $17 million or $1.07 in the prior year [9][15] Business Segment Data and Key Metrics Changes - The Contractor Solutions segment generated $132 million in revenue, accounting for 67% of consolidated revenue, with total growth of 14.5% year-over-year [10] - The Specialized Reliability segment saw a 3% increase in revenue to $34.6 million, with EBITDA growing 26% to $6.6 million and an EBITDA margin improvement of 360 basis points to 19.1% [11][12] - The Engineered Building Solutions segment's revenue increased by 3% to $28.8 million, with a stable book-to-bill ratio of 1:1 [12] Market Data and Key Metrics Changes - The HVACR, electrical, and plumbing end markets reported growth, while the architecturally specified building products market experienced a slight decline [10] - The company noted that existing home sales and new home sales have been down, but housing permit numbers have recently increased [58] Company Strategy and Development Direction - The company continues to focus on sustainable growth and is actively pursuing accretive acquisitions to enhance its product offerings and market share [5][17] - The acquisition of Waterworks is expected to expand the company's distribution network and product offerings in eco-friendly drain management solutions [5][18] Management's Comments on Operating Environment and Future Outlook - Management expressed a favorable outlook for the macro environment, despite challenges such as higher interest rates and geopolitical uncertainties [58][62] - The company anticipates continued organic growth in the mid to high single digits, supported by recent acquisitions and market share gains [32][46] Other Important Information - The company ended fiscal Q3 with $214 million in cash and reported cash flow from operations of $12 million, a decrease from $47 million in the same quarter last year due to a tax payment deferral [13][14] - Inventory levels increased strategically to mitigate risks from potential supply chain disruptions [14][30] Q&A Session Summary Question: Impact of freight on margins and gross profit - Management acknowledged freight as a significant headwind, with a 4 to 6 month lag affecting costs, but expects pricing adjustments to help offset these increases [21][24] Question: Organic growth components - Organic growth was reported at 1.8%, with management expecting mid to high single-digit growth moving forward, driven by volume and pricing [32][36] Question: Acquisition pipeline and opportunities - Management indicated optimism regarding the acquisition pipeline, noting both small and larger acquisition opportunities are being evaluated [37][38] Question: Overall macro environment and its impact - Management remains favorably inclined towards the macro environment, expecting normal growth despite challenges, and highlighted the importance of acquisitions in driving growth [58][62]