Commercial Strategy - The company is focused on reaccelerating organic growth in fiber cement and expanding margins through disciplined execution, innovation, and operational excellence [1] - The combination with AZAC is generating meaningful commercial opportunities and is expected to significantly contribute to top-line growth in the coming years [1][18] - The company aims to increase penetration in both new home and repair and remodel markets, which represent a significant revenue opportunity [8] Financial Performance - Total net sales grew 30% to $1,240 million, including $275 million from acquired AZEK sales, with organic sales increasing by 1% [20] - Adjusted EBITDA was $330 million with a margin of 26.6% [20] - The Siding and Trim segment saw net sales up 10%, including $81 million from the AZEK acquisition, but organic net sales were down 2% due to lower volumes [22] Cost Management - The company implemented manufacturing optimization actions, including the closure of two older plants, expected to generate annual cost savings of $25 million starting in FY '27 [6][24] - Adjusted EBITDA margin for Siding and Trim was 34.1%, reflecting a nearly 500 basis point sequential improvement due to favorable price mix [5][23] - The company is employing the Hardie operating system to optimize cost structure through network optimization and structural efficiency improvements [24] Market Outlook - The company expects organic net sales to decline modestly in the fiscal fourth quarter but is focused on driving growth in the Siding and Trim segment [7] - Demand trends in the repair and remodel market have stabilized at low levels, while new home market demand remains uncertain [7] - The company anticipates returning to organic revenue growth and adjusted EBITDA margin expansion in FY '27 [31] Product Innovation - The company is focused on product innovation, including the introduction of Timberhue, which combines a natural wood look with the durability of fiber cement [10] - New installation techniques are being developed to reduce overall installed costs and increase contractor efficiency by approximately 30% [10] - The company is committed to enhancing its product portfolio to drive material conversion and meet customer needs [12][33]