Net loss attributable to common stockholders was $45.2 million for the three months ended March 31, 2026, a sharp contrast to net income of $230.9 million in the prior year period. Net sales decreased by 20.4% to $303.2 million in Q1 2026 from $380.9 million in Q1 2025. Gross profit turned into a loss of $10.6 million in Q1 2026, down from a $19.0 million profit in Q1 2025. Basic earnings per share (EPS) was $(1.11) in Q1 2026, compared to $5.41 in Q1 2025. Transportation Solutions (TS) segment sales decreased by 27.9%, primarily due to lower dry van (14.5% decrease) and truck body (49.1% decrease) shipments. Parts & Services (P&S) segment sales increased by 4.1% to $54.1 million, driven by higher sales in Services ($1.7 million increase) and Aftermarket Parts ($2.6 million increase). The company acquired the remaining 51% equity interest in Linq Venture Holdings LLC for $6.4 million cash and $18.6 million of a preexisting note receivable, resulting in $22.1 million of goodwill. Liquidity position, defined as cash on hand and available borrowing capacity, decreased by 47% year-over-year to $165.1 million as of March 31, 2026. Cash used in operating activities increased to $33.7 million in Q1 2026 from $0.3 million in Q1 2025. No shares were repurchased under the share repurchase program in Q1 2026, with $93.2 million remaining available under the program. Industry forecasts for 2026 U.S. trailer production predict a decrease (ACT: 1.1% decrease, FTR: 7.3% decrease) compared to 2025.