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I run building products and home builders. Really excited to have everybody. We have an incredible lineup and we're really excited to start the conference today with one of the premier manufacturing companies in the United States with USG. They also manufactured and distributed and under Jenny's leadership, they have segregated manufacturing, spun off distribution, and now it's a pure play sheet rock and ceiling tile manufacturer.
And royal bank of canada las vegas the same time, they've also done massive balance sheet repair and now has one of the best debt -- net leverage positions, one of the lowest net leverage positions. So that's some background. Thanks for joining us today. I have to chime in though, I'd be remiss. My IP attorneys would be disappointed if I didn't point out that Sheetrock is a brand name. So Sheetrock Brand Gypsum drywall that we invented years ago.
I have used the USG royal bank of canada las vegas, it scores very nicely, if you're going to cut some source rock and hang it, and they also have multiple variations on the product, you have like mold resistant multiple applications. Hurricane Harvey, unfortunate tragic event. What's the impact on USG? What does that mean? Talk to me about that. The good news is all of our employees are safe.
We have a plant, right in the center of Read more Galena Park, Texas. It was shut down for a week. All of our employees are safe. The plant is back up and running. Irma similarly went right through Jacksonville, and we've got a plant right in the center of Jacksonville; and that plant, royal bank of canada las vegas good news is it stayed dry.
So we're in the center of it all. And we look at the hurricane and it's devastating. I mean, they haven't even started to quantify Florida yet,homes at least that have been potentially demolished, and we don't really know whether they're going to have to cut the four foot mark and replace the drywall at that point or replace the entire house.
Can you explain that comment for people who don't understand what the four foot mark means? What does that mean from a damage perspective? When your basements or your walls get wet, if it's just a dampness, it will dry out, but if it's really been soaked, you've got to replace it, you've got concerns about mold, mildew that can go into the insulation layer, and so you've got to carve it out, get it dried out and then replace it.
So at a bare minimum, most of these homes that have been damaged, I would anticipate need to at least have the bottom half of their walls repaired, probably many, link basements and then again depending on the royal bank of canada las vegas of the damage, could be the entire wall, the entire house.
So Governor, Tim Abbott was saying there's maybe 30, to 40, homes that have been impacted by what recently transpired. Do you see kind of a replacement role for Sheetrock in those homes? I mean, we're already and we expect to see demand rise in the regions, not just over a couple of quarters, but typically over years as the effects of what people realize in each of their homes manifests itself.
So this is something that for us in the short term is a real challenge. In http://softwaresavvysub.info/online-roulette-loophole.php short term, we had to repair our plants, get the maintenance, clean-up, we were down a week, article source up our Теперь deposit with paypal betting Да a little bit to make sure that we can service all the customers who are already seeing increased demand.
So that's going to cost us a little bit in the third quarter. We see some headwinds on that, but at the same time, there's increased demand. Is it kind of like, hey, we're basically shut from the manufacturing and lost throughput for two weeks, and now we're back on line, is that a fair way to characterize it?
It's change in logistics to get raw materials in. So for the longer term, you also have to pay attention to what it's going to do to costs and inflation and supply chain. But for us, in the third quarter, we do see some headwinds on that. I do want to add to that though royal bank of canada las vegas you know we don't give guidance. But I think it's important to point out that even prior to the hurricane, when I was looking at consensus for third quarter and consensus for fourth quarter, in aggregate the consensus numbers http://softwaresavvysub.info/great-online-casinos.php correct to me prior to the hurricane, but parsed out quarter-by-quarter.
The third quarter felt more optimistic than some of the trends that we're seeing and the fourth quarter felt more pessimistic than some of the trends that we're seeing. And when you add the hurricane, I think it makes that even more pronounced. Are both numbers 3Q plus 4Q together, like the second half numbers that Street has to feel okay? That felt like guidance to me is kind of weird. So that's good to know. What's going on with wallboard pricing?
We announced in July that we went back to each of our customers to talk about reconstituting price to our not to exceed price for the year and unfortunately they've not been as successful in royal bank of canada las vegas I would say prices up across the markets in the regions, but I feel like source been successful conversations with each of our customers. No price in third quarter, but OCC is -- the movement in OCC is historically extreme, it's probably the fastest moving commodity we've ever seen after covering this stuff for 16 years, it's unbelievable.
Are you more confident about the pricing environment next year? But OCC is something that we can't control and so we focus on the costs that we can control, and in our plants, royal bank of canada las vegas of the incredible spike in OCC, we've kept our costs completely under control.
So that's something we're going to pay attention to on the longer term of what do we think that trend is with regard to bank deposit nederlands effect on paper and then where can we mitigate that risk into the future by changing other things up. So that's our view on Royal bank of canada las vegas, but we truly have no idea other than, it's high demand in China right now and that could change.
We announce to our customers 30 days in advance of any price increase. We had opportunities to have conversations with our customers read more August about pricing. And where are you feeling, where are you seeing capacity utilization for you guys versus the industry? What do you think about Gypsum Association, GA shipment numbers?
Just give us some big hash marks on the field? I think the industry is probably mids right now, but when you look at it regionally and particularly where we were already seeing increases in demand regionally and had already been adding shifts to certain production facilities in advance of demand, we actually are very well positioned in Texas and Florida to service the increases in demand that we're seeing there and we expect to continue to see.
Just speaking big picture, and maybe Ken you could jump in, you've just been promoted to run manufacturing, advanced manufacturing initiatives at USG. Is this like a three year or a five year deal? We've had a lot of great ideas to invest in our plants, to lower our cost, improve our efficiencies over the past couple of years, and we were just capital constrained on royal bank of canada las vegas ability to make those investments.
Right now, we can invest back in the business and the first dollar that we look to invest is back in our facilities. We have a series of mines across our network, and we are implementing a technology that has existed within the coal industry for a while, but has not been put in a Gypsum mine, called a continuous miner. Previously to this technology, we would drill holes in the Gypsum rock, put explosives in there, clear out the mine, blast, come back down with equipment and scrape the rock off, collect it and pull it out of the mine.
A continuous miner, you can think about it as a big drum with teeth on it that will just chew into the Gypsum rock of the wall and collect that rock behind it and put it on a conveyor and pull it out of the mine. And so, you're saving manpower by not having to do all the drilling, royal bank of canada las vegas and the like, you're see more your throughput because you can work for source longer period of time without having to clear out the mine for a period of time and blast, and so that lowers our cost, that lowers our maintenance spend, it lowers our future CapEx because we're replacing many pieces of equipment with one big piece of equipment.
It also does things around how we manage our raw material supply chain, and so when you can increase the throughput of natural rock, you don't have to feather in synthetic gypsum at some of these locations, which allow you to move this hinge up around the network in a more cost effective way. And so there are many orders of magnitude of benefit that you get besides just the initial cost savings for that.
So that's one concrete example. And I want to chime in on that. I think this is a real fundamental shift in expanding our low cost position across our network.
That's awesome and now, you've been in Treasury, done a great job on the financial royal bank of canada las vegas, you have very soft hands from Excel, now you're going into the mines and doing real work. When you're thinking about the investments in advanced manufacturing, is this primarily a Gypsum driven orientation or is it just impact ceilings as well?
It's across our entire royal bank of canada las vegas portfolio. I would say that the investment and the benefit is correlated with the profit from the business, so call it Gypsum interiors, Gypsum interiors, but there will be benefits across the ceiling space as well.
And just based on Jen's comments, it sounds like there's kind of mids capacity utilization well below the industry. It sounds like that the demand side of the equation is still lukewarm, low single digit, mid-single digit. And as you're thinking about in Chicago around the table, you did a remarkably aggressive job of controlling cost and my question is when click the following article think in three years out and you're obviously making some great investments on the manufacturing side, it sounds like your strategy is, we can't control the demand side, so let's invest back drive margin to get EBITDA going.
Is that the right way for us to think about it or is there another element to royal bank of canada las vegas growth? That's the beginning of the way to think about it and I royal bank of canada las vegas to say wallboard is the beginning of our story, but we've also got demand in the remaining Gypsum products, substrates and surfaces and a lot of those are geared toward commercial construction and our slot games unblocked products in our portfolio are geared toward ways in which we can save labor and we all hear about the labor shortage, particularly in construction and also reduced the amount of time and we all know that time is money, particularly for builders, developers who are trying to get their buildings up and occupied and the revenue stream coming from that.
So when you look at products like royal bank of canada las vegas structural panels, which replaces poured concrete in kind of midrise steel framed buildings or our level rock, which is a flooring underlayment for kind of wood frame to midrise buildings, we have a lot of products that are geared toward, what I would call, kind of disrupting and changing adoption rates for different style of construction practices than we've been used to in order to help address the labor shortage.
So it's kind of product extension to address the labor shortage. If you say that's the upside to the growth story that will drive faster adoption rates with new construction techniques, while basically solving for a labor shortage, what would you say is your biggest concern, as the CEO, what's the thing that royal bank of canada las vegas sleep over, you feel like, hey, you know what, I can't really get this out of my control and it does impact us, is it OCC or is it just kind of, is demand at this point in the economy where you thought it would be, is the tracking consistent with the expectation, so do you think there's a little pent up demand?
I mean, there's things that we just can't control that if they occurred would be very beneficial. We can't control what's happening with tax reform, but that would be terrific.
We can't really control what's happening with infrastructure funding, but that would be terrific. So I don't -- there's not things that worry me about our business, but there are certainly things that, if they occurred, would be incredibly beneficial for the entire industry and I think that that's something that we'd like to focus here despite the fact that it's out of our control, but we're ready to help address it in the ways.
So if it falls into place, then that would be a nice structure click at this page. Tell me about the ceilings business. What's going on with pricing? How's the progress with pricing? What's the price dynamic right now in ceilings? I think in ceilings, what we're seeing is that the price increase we are getting traction with that.
What you do have to remember is the timing of the way that ceilings pricing works in the way that projects are lagged. There's a certain proportion of ceiling tile sales that are project based. So when we're quoting today at the higher prices, which we feel are sticking to some degree, then they may not get shipped for 6 months, 12 months, 15 months.
So it's not an immediate cause and effect in the way that you frequently get used to on the wallboard side, but it is something that we do see margin expansion occurring in royal bank of canada las vegas ceilings business over time. So you're confident that click some point, the price increases will show a realization flowing through the numbers?
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