Consolidated net sales reached $501.7 million, marking a 5.5% increase year-over-year from $475.6 million in the fourth quarter.

North America and Europe segments showed robust sales growth at 5.3% and 5.8% respectively, driven by higher sales volumes and positive foreign exchange impacts.

The consolidated gross profit rose by 9.9% to $220.5 million, with gross margin improving to 43.9% from 42.2% in the previous year.

However, income from operations saw a decline of 9.1% to $71.6 million, attributed to increased operating expenses, despite higher gross profits.

Annual consolidated net sales grew by 4.6% to $2.2 billion, influenced significantly by the ETANCO acquisition and positive currency translation effects in Europe.

The company's gross profit increased by 10.9% year-over-year to $1.0 billion, with the gross margin expanding to 47.1%.

Net income for the year was $354.0 million, or $8.26 per diluted share, up by 6.5% compared to the previous year.

Operating activities generated $429.9 million in cash, a $30.1 million increase from the last year, and the company undertook strategic stock repurchases valued at $50.0 million.

Throughout Q4 2023, the Company repurchased shares worth $50.0 million and announced a new share repurchase program of up to $100.0 million, effective through 2024.

A quarterly cash dividend of $0.27 per share was declared, with a payment date set for April 25, 2024.

The full-year outlook for 2024 anticipates an operating margin between 20.0% to 21.5%, with planned capital expenditures of approximately $200.0 million for facilitating expansions and new facility constructions.