Financial Data and Key Metrics Changes - Consolidated net sales increased by 25% to $162.1 million, while gross profit grew by 23% to $38.1 million, driven by higher demand and improved throughput [17][22] - Adjusted net income and adjusted earnings per share both increased by more than 60% to $9.5 million and $0.40, respectively [17][22] - Adjusted EBITDA increased by 31% to $20.1 million, with margins rising by 60 basis points to 12.4% [17][22] Business Line Data and Key Metrics Changes - In the attachments segment, net sales increased by 13% to $68.1 million, and adjusted EBITDA rose by 29% to $10.5 million, attributed to the timing of pre-season shipments and ongoing cost control measures [18] - The solutions segment saw net sales increase by 36% to $94 million, including approximately $8 million of incremental chassis sales, with adjusted EBITDA increasing by 34% to $9.6 million [19] Market Data and Key Metrics Changes - Dealer inventories are now below the five-year average, indicating a healthy market environment, coupled with positive dealer sentiment and financial health [11] - The company is well-positioned for winter, assuming a typical amount of snow and ice events in core markets [12] Company Strategy and Development Direction - The company is focusing on the strategic pillars of optimize, expand, and activate, with a recent emphasis on the activate pillar, which involves restarting M&A efforts [6][15] - The acquisition of Vanco Venturo is seen as a meaningful first step towards diversifying and balancing the company's portfolio of attachments [6][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute and deliver sustained impact, with a positive outlook for the fourth quarter based on current performance and market conditions [23] - The company raised its guidance for net sales and adjusted EBITDA for 2025, reflecting strong year-to-date performance [22][23] Other Important Information - The company paid a quarterly dividend of $0.295 per share at the end of the quarter [21] - Total liquidity at quarter-end was $70.1 million, with a manageable leverage ratio of 1.9 times [20][21] Q&A Session Summary Question: Can you provide more detail about the acquisition, including revenue and margins? - Management indicated that Vanco Venturo's sales are estimated to be in the $30-$40 million range, with margins similar to the solutions business margins, and potential for improvement through operational synergies [29] Question: What are the expectations for each segment in the fourth quarter? - Management expects attachments to return to 2023 volume levels, with margins expected to be flattish compared to last year [34] Question: How did the municipal and commercial businesses perform relative to each other? - Both municipal and commercial segments achieved record top-line quarters, with good growth across both areas [36]