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spk00: that area over the last 10 or 15 years, it gives us a real good feeling for a multi-year play. We look at the home builders and their base price increases year over year, and the new order price is higher than the current closing price, which tells us there's a fundamental support there as we begin to receive Price increases from the manufacturer, that gives us the confidence that we'll be able to pass that through. You know, and the economy is still not clicking on all cylinders. So, you know, we feel like we're not yet out of the, you know, the tougher part of COVID and look forward to the opportunity to run on all cylinders.
spk03: That's great, Collette. Thanks very much. Appreciate it. Thank you, Mr. Raghavan. The next question is from Michael Reholt with JP Morgan. Please proceed.
spk02: Hi, this is Maggie on for Mike. Thanks for sneaking me in here. On 3Q growth margins, you pointed to timing benefits and cost-effective procurement as being tailwinds. Can you talk about how long those benefits last?
spk00: Well, sure. we've mentioned a couple of things in the quarter that were helpful on the price cost side. We mentioned that there was a little bit of a headwind on mix, just given the differential growth rates and gross margin rates there. You know, when you look at two price increases in a quarter, there were certainly some timing benefits and inventory profits, you know, so to speak. But to me, when you look at Q4, you know, we're guiding to 180 basis points. you know, of gross margin benefit, I think that the price cost will be higher than that and the mix will be somewhat negative. So that'll tell you that we continue to see positivity in price cost in Q4.
spk02: Okay, thank you.
spk03: Thank you, Maggie. The next question is from David Manthe with RW Baird. Please proceed.
spk00: I'll take my questions offline, guys. Thanks.
spk03: Thank you, Mr. Manthe. That concludes the questions. Now I would like to turn the call back over to Mr. Francis for closing remarks.
spk01: Thank you, Nye. And thank you, everyone, for joining this evening. We certainly appreciate your support. And really, the last statement I would make is that we hope that the employers, our customers, our suppliers, and all the investors are staying safe at this time. It's clearly a challenging time still. We're incredibly proud of the results in our fiscal third quarter. And again, I want to thank all of our employees for delivering such great results for the company. Thank you all, and good night.
spk03: That concludes the Beacon Third Quarter 2021 Earnings Conference Call. Enjoy the rest of your day.
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