“進入2025年，利率、不確定的關稅以及勞動力供應可能影響我們的市場。” Doug Black解釋道，“在這種背景下，我們預計大宗商品價格的通貨緊縮將在2025年繼續緩和，例如PVC管道的價格下降會被我們其他產品的漲價所抵消。總體而言，我們預計2025年全年價格將持平或略有下降。” “在終端市場方面，我們預計總體需求將持平或略有增長，維護領域將實現溫和增長，而維修和升級、新住宅及新商業建築方面的需求將保持堅挺。” 在商業計劃的幫助下，Black指出銷售量預計將超過價格的下降，從而實現全年低個位數的有機日銷售額增長。在2024年採取的強有力的成本削減措施、持續的運營計劃以及收購貢獻的推動下，預計2025年的調整後EBITDA利潤率將會進一步上升。 基於這些趨勢，公司預計2025年調整後EBITDA將在4億至4.3億美元之間。此指引不包括未宣佈的收購對業績的貢獻。

以上內容來自Benzinga Earnings專欄，原文如下：

Outlook

"As we enter 2025, there is much uncertainty with interest rates, potential tariffs, and labor supply that could affect our markets. Against this backdrop, we expect commodity price deflation to continue moderating in 2025 with declines in products like PVC pipe mitigated by increases across our other products. Overall, we expect pricing to be flat to slightly down for the full year 2025," Doug Black continued. "In terms of end markets, we expect overall demand to be flat to slightly up with modest growth in maintenance and resilient demand in repair and upgrade, new residential, and new commercial construction. With the benefit of our commercial initiatives, we expect sales volume to more than offset price deflation, yielding low single-digit Organic Daily Sales growth for the full year. With the strong actions taken in 2024 to reduce cost combined with our continued operational initiatives, ongoing SG&A management, and contributions from acquisitions, we expect to increase Adjusted EBITDA margin in 2025."

Given these trends, we expect our Adjusted EBITDA to be in the range of $400 million to $430 million. Our guidance does not include any contributions from unannounced acquisitions.