Forensic Accountant, construction spending "remaining strong" is the exact wrong read. (https://news.google.com/rss/articles/CBMisgFBVV95cUxQSDNiQy03dldfaFRjNnk5c3dBRWNkUTdST0Z4SEMyQnJmZVRkbTBFWXA5Z2F1R1FkcWx3UzNsbFRESWVFZklaWnZMcjVxUEhNdjRXVDVNbVhPV1YtLS0zMjFVRU9Gcmh4dkM3dE50OVBkMWVQQTBQd3RQc2E4dXhxbV9JcVZGaW5GQjJXTENzRWJTV3ZuN0M5d0l2SkFtWkZ5dERUSjl2M2txLWp0SXhoSzZB?oc=5) tells you volume, not profitability—and tariff pressures are already baking into material costs on projects starting now. $LOW posted net margins last reported period but delivered -68.0% YoY NI growth.

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