our remain that Thank navigate as geographic our manage as and and we culture us environment strong product confident meet allocation as you, to to our needs. the diversity, serve continue customer capital Chris. of ongoing challenges, our operating our determination people Equally and control who diligence and noted, operating I approach and cost to important needed continue will as relationships well. discipline, Chris as to customer adjust Look, operational balanced the of our
to today. the low term, products. just wood uncertainty result the interest improvement I'd develop seasoned rates, in which in and macro may find and around building factors growing long these a have cost, there a our We chains. record repair potential on rising team are and and broad pressures demand ourselves energy fortunate are acknowledge our of strain affordability other for In supply with a cost in comments is people to that make on everyone fluctuations remodel you short-term like and self a navigating environment previous be questions supported many directly renovation have Its focus sheet, to there months, our we and and have elevated a that prices market in surrounding spending, to strategy of the few impact proven assets remind strong connected inflationary particular, on and to we are successfully housing great in is which through important is recent may very Given by cycles. and balance track instances,
Also, downward industry further increasingly reductions this investment near-term carbon believe remain due the And of So promises British make chain longer-term see the to longer-term quickly to to continue that it ability Ongoing policies we forest and to pressure to are headwinds, In in Columbia difficult supply. by despite role a sustainable market supply limited economy contribute to important lumber-producing contrast, that continues constraints the of demand historically both supply in adopt been of outlook. to key an the U.S. annual to significant region its products despite may driving and the stringent availability and fiber increasing low public terms exacerbated need of these growing robust. has fundamentals demand. growth the recently
response supply other American North offset been to overall not region, regions. in sufficient South has reductions
housing in the some the specifically we’ve you in progress recent Allendale made to to North with and rates terms apparent appears can our would homes. constrained the affordability, America role to consumers' mill although in on affordability In like be demand, ability inflation important Rising by to longer term. play and the purchase impact wage improving I a short-term now Angelina, acquisitions, of update of an interest shortage OSB housing limiting South.
Allendale the our with improving our believe late operating make chains We of will First our we has towards also be we among everywhere, will at first impacted pleased with attract the rebuilding thereby mill eventual good Allendale, the to be the idled full team our which restart portfolio the the and staffing to large-scale last move which able make mills our we in startup. mill, progress the will date mill including year, mill productivity. OSB easier simplify talent Allendale, our production. of we and will early team acquired end XXXX. we have made expect us operate, needs, lowest-cost be in of note OSB now that Supply the we the is OSB help and necessary cost when to front continue as Allendale skilled progress with expect to confidence quarter that giving I'm it's inflation potential us process
of IRR to ahead has Angelina. we certain anticipated. sawmill. mill's and better we to estimate high exceeding than our approximately since deductions, approximately timing lower to and this I moving so performance XX%. of acquisition many our what teen pleased this that acquisition estimate basis The for tax approaching at and we base well this early, cost EBITDA of still the of is Secondly, financial Operationally, Thanks our three acquisition, that percentages, for production better-than-expected very is far, am seeing gone original options report while from forecast. times well original are
I date. publication of amount are the work of tremendous to With financial went recognize announce second [ph] the have of officer, also for the this progress our Johns progress results, proud of report. to and sustainability and to made. our our Shenandoah pleased A team into sustainability our wish we our quarter, I'm announcement report, specifically key our XXXX dedicated we
towards the joining the based we a Fraser greenhouse company materially continue and becoming leader to becoming with initiative, XXXX I to the which As wood West report, encourage read sustainability highlights gas Canadian take commit include in alignment from all steps first to emissions to Paris reduce products the science targets to by agreement.
history. diversity importantly, the in to rate of As And company, and more and lowest serious representation than doubling have work our most XXXX. our while overall perhaps, do much injury we workforce the we inclusion achieved incidents recordable clearly well we on in more our injuries female understand the that eliminate award as in our to improving
Before turning strategy. a our to I'd capital Q&A few today's allocation make like portion remarks the additional on of call, to
aim shareholders, in flexibility. financial business maintaining the priorities all while with to capital disciplined our investments to Our balance returning
to to existing to This deploying end, To that long-term a believe capital continues platform. advanced for operating enhance continue technologies our automation is be further priority drive businesses. value that us includes our balanced in key our to innovation consistent that We approach towards reinvesting top creation.
intrinsic will to We cash same at share objective strategic excess dividends through to time, returning to our sufficient growth shares the pursue through trading continue whether and a capital shareholders, their At value. repurchases larger-scale cycle, our also flexibility they or the business maintain financial when in and/or the discount are prioritize when that’s to enable believe the available. invest acquisitions opportunistic are with to keeping initiatives we
our execute balance flow our as our these Given will expenditures has capital slide to we Approximately priorities, to our months. of deploy last results the objectives. track we including XX used bids lastly, nearly we look by generation two nearly or on pleased debt. to of strategic returned USD company. with shows strong retained pay the X.X our been XX of Since of XX% gone acquisitions And improving additional XXXX, and our last shareholders, repurchases the XX% successful shorter, flow our over and billion In opportunities generation directed of and years, record. effectively continue our X-plus sheet, cash capital completion expanding cash to Reflecting share quarter. the half been has are issuer this to highlighted down the on has for towards overall, substantial cash approximately
strong. Our balance sheet is
of necessary their just well have opportunities. challenges and the And and M&A recognizing or to as use we to well sustainable liquidity attractive remain navigate after acquisitions diligent navigate being organically company market All optimistic important, renewable our move potential and the when future the continued and the challenges have business, arise. people but our the and wood to customers. in and We we longer-term continue in And agile we us focused to for products. remain and near growth the allow through about knowledge whether our of the grow as - [indiscernible] to as demands prospects, forward create and value, headwinds our on company's to opportunities
I as response the in are press it's concise. I this, we to recent you media last didn’t all I'd issued speculation. be remiss week and that clear, a Finally, aware believe is release release if
spirit, And With to and will that, any operator you. further Thank back be we'll and release. that to call questions. turn simply the the comment, you I refer in for the I'll so ask adding press Thanks. not
