Q3 2025 Financial Highlights - Net sales increased slightly by 0.2% to $205.4 million compared to $205.1 million in Q3 2024[11] - Adjusted operating income increased by 1.8% to $20.9 million compared to $20.5 million in Q3 2024[11] - Adjusted net income increased by 7.7% to $9.9 million[11] - Adjusted diluted EPS increased by 4.0% to $0.26[11] - Free cash flow generation was strong at $21.5 million, up $11.4 million from last year[11] Segment Performance - Material Handling net sales increased by 1.9% to $153.5 million in Q3 2025 compared to $150.7 million in Q3 2024[24] - Material Handling adjusted operating income increased significantly by 15.4% to $28.0 million with an adjusted operating income margin of 18.3%[24] - Distribution net sales decreased by 4.4% to $52.0 million in Q3 2025 compared to $54.4 million in Q3 2024[26] - Distribution adjusted operating income decreased significantly by 61.3% to $0.9 million with an adjusted operating income margin of 1.8%[26] Strategic Initiatives and Outlook - The company remains on track to deliver $20 million in targeted cost reductions, primarily in SG&A, by the end of 2025[11] - The company is making steady progress on its 'Focused Transformation' plan, including the intent to sell Myers Tire Supply (MTS)[11] - The company is targeting capital expenditure of approximately 3% of sales, focusing on high-growth opportunities with superior returns[13]

Financial Performance - Net sales were $206.8 million, a slight decrease of 0.2% year-over-year[8, 28] - Gross profit increased by 7.5% to $69.1 million[8] - Adjusted operating income increased by 12.2% to $18.7 million[8, 28] - Adjusted net income increased by 5.5% to $8.4 million[8] - Diluted adjusted EPS increased by 4.8% to $0.22[8, 28] - Free cash flow was $2.0 million in Q1[42] Segment Results - Material Handling net sales increased by 3.6% to $157.7 million[37] - Distribution net sales decreased by 10.3% to $49.2 million[39] Strategic Initiatives - The company is targeting $20 million in annualized cost savings by year-end 2025, primarily in SG&A[13, 49] - The company repurchased $1 million in shares in Q1 as part of a $10 million share repurchase authorization[13, 46]