Total revenues decreased by 2.2% to $1,835.9 million in 2025 from $1,876.6 million in 2024. Net loss increased to $80.3 million in 2025 from $62.1 million in 2024, primarily due to a $21.5 million income tax expense in 2025 compared to a $4.2 million benefit in 2024. Adjusted EBITDA saw a modest decrease of 2.3% to $164.4 million in 2025 from $168.3 million in 2024. Gross profit decreased by 3.9% to $474.6 million, with the consolidated gross profit margin declining by 0.4 percentage points to 25.9%. Operating expenses decreased by 5.0% to $451.4 million, driven by cost savings initiatives and workforce optimization. Rental revenues and rental equipment sales declined organically by 10.2% and 21.0% respectively, reflecting a smaller average rental fleet due to optimization efforts and lower utilization. New and used equipment sales increased by 1.2% to $999.3 million, supported by the Construction Equipment segment's growth. The One Big Beautiful Bill Act (OBBBA) enacted in Q3 2025 led to a $24.5 million increase in deferred income tax expense due to a full valuation allowance against Net Operating Loss (NOL) Deferred Tax Assets (DTAs).