As a result, net sales for the second quarter were up 24% year-over-year.
Professional segment net sales increased 25%, continuing the growth trend for this segment and setting a new record.
Residential segment net sales for the second quarter were up 20% year-over-year, setting another record.
Professional earnings were up 57%, and Residential earnings grew 24%.
Year-to-date, we've paid down $100 million of debt, invested $107 million in share repurchases, and paid out $57 million in dividends.
We grew net sales by 23.6% to $1.15 billion.
Reported earnings per share was $1.31 per diluted share, up from $0.91 last year.
Adjusted earnings per share was $1.29 per diluted share, up from $0.92 in the prior year.
Professional segment net sales were up 25.3% to $828.4 million.
Professional segment earnings were up 57.3% to $167.1 million; and when expressed as a percent of net sales, increased 410 basis points to 20.2%.
Residential segment net sales were up 20.2% to $315 million.
Residential segment earnings were up 23.9% to $46 million; and when expressed as a percent of net sales, up 40 basis points to 14.6%.
We reported gross margin of 35.1%, an increase of 210 basis points from the prior year.
Adjusted gross margin was 35.1%, up 170 basis points.
SG&A expense as a percent of net sales decreased 10 basis points to 19.4%.
Operating earnings as a percent of net sales increased 220 basis points to 15.7%.
And adjusted operating earnings as a percent of net sales increased 170 basis points, also to 15.7%.
Interest expense was down $1.5 million to $7.1 million, driven by reduced debt and lower interest rates.
The reported effective tax rate was 19.8%, and the adjusted effective tax rate was 20.9%.
At the end of the second quarter, our liquidity remained consistent at $1.1 billion.
This included cash and cash equivalents of $500 million and full availability under our $600 million revolving credit facility.
Accounts receivable totaled $391.2 million, down 2.3% from a year ago, primarily driven by channel mix.
Inventory was down 12% from a year ago to $628.8 million, primarily as a result of increased demand.
Accounts payable increased 28.8% from last year to $421.7 million.
Year-to-date free cash flow was $292.4 million, with the conversion ratio of 115%.
We now expect net sales growth in the range of 12% to 15%, up from 6% to 8% previously.
Given our strong balance sheet and future growth expectation, we are increasing our estimated capital expenditures for the year to $130 million, up from $115 million.
Based on current visibility, we now expect full year adjusted earnings per share in the range of $3.45 to $3.55 per diluted share.
The city has an objective of zero emissions by 2030, and we are excited to partner with them in achieving this goal.

Summary:
We grew net sales by 23.6% to $1.15 billion.
Reported earnings per share was $1.31 per diluted share, up from $0.91 last year.
Adjusted earnings per share was $1.29 per diluted share, up from $0.92 in the prior year.
Based on current visibility, we now expect full year adjusted earnings per share in the range of $3.45 to $3.55 per diluted share.