Financial Performance - Net sales reached $1.1 billion, a 5% increase year-over-year[10] - Net income was $58 million, representing 5.2% of net sales, a 6% decrease year-over-year[10] - Adjusted EBITDA was $121 million, or 11.0% of net sales, a 1% decrease year-over-year[10] Capital Allocation - Returned $67.1 million to shareholders, including $29 million in dividends ($1.15 per share) and $38.1 million in share repurchases in Q2[11] - Total share repurchases year-to-date reached $128.3 million as of August 1, 2025[11] Acquisitions and Market Trends - Acquired Freedman Seating in April, adding approximately $125 million in annual revenues in the bus market[11] - RV OEM sales increased by 3% year-over-year, driven by market share gains and increased mix in higher-content fifth wheels[17] - Adjacent Industries sales increased by 10% year-over-year, primarily due to recent acquisitions in the bus market[28] Tariff Mitigation - Tariff mitigation strategy minimized pricing impact to customers and supported profitability in Q2, with $15.4 million of tariff expenses mitigated[10, 61] - Target is to reduce China sourcing to approximately 10% in 2025[60] Outlook - Expects to deliver an 85 bps margin improvement in 2025 through optimizing infrastructure[10, 67] - North American wholesale unit shipments forecast for full year 2025 is 320,000-350,000 units[71]

Financial Performance - Net sales reached $1.046 billion, an 8% increase year-over-year[10] - Net income was $49 million, representing 4.7% of net sales, a 35% increase year-over-year[10] - Adjusted EBITDA was $111 million, or 10.6% of net sales, up 23% year-over-year[10] - First quarter operating profit margin increased to 7.8%, up 180 bps year-over-year[10] Capital Allocation and Liquidity - The company has a strong liquidity position with $231 million in cash and cash equivalents and $595 million available on the revolving credit facility as of March 31, 2025[11] - $57.6 million was returned to shareholders through dividends of $1.15 per share, totaling $29.4 million, and $28.3 million in share repurchases[11] Segment Performance - RV OEM sales increased by 15% year-over-year in Q1 2025[17] - Adjacent Industries OEM sales decreased by 2% year-over-year in Q1 2025[27] - Aftermarket segment sales increased by 6% year-over-year in Q1 2025[32] Strategic Initiatives - The company acquired Trans/Air in March and Freedman Seating in April, representing approximately $200 million in annual revenues in the bus market[11] - The company is on track to deliver an additional 85 bps margin improvement in 2025 through optimizing infrastructure[10, 71]