OneWater Marine Inc.

Good morning, my name is Julie and I will be your conference operator today. At this time, I would like to welcome everyone to the One Water Marine Inc. fiscal first quarter 2026 conference call. All lines that are placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, press star followed by the number one on your telephone keypad. If you'd like to withdraw your question, please press star two. Thank you. I would now like to turn the conference over to Jack Ezzo, Chief Financial Officer. Please go ahead.

Good morning and welcome to One Water Marine's fiscal first quarter 2026 earnings conference call. I'm joined on the call today by Austin Singleton, Executive Chairman, and Anthony Asquith, Chief Executive Officer. Before we begin, I'd like to remind you that certain statements made by management in this morning's conference call regarding One Water Marine and its operations may be considered forward-looking statements under securities laws and involve a number of risks and uncertainties. As a result, the company cautions you that there are a number of factors, many of which are beyond the company's control, which could cause actual results and events to differ materially from those described in the forward-looking statements. Factors that might affect future results are discussed in the company's earnings release, which can be found in the investor relations section on the company's website and in its filings with the SEC. The company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. Please note that all comparisons of our fiscal first quarter 2026 results are made against our fiscal first quarter 2025, unless otherwise noted. With that, I'd like to turn the call over to Austin Singleton, who will begin with a few opening remarks. Austin?

Thank you Jack. Good morning everyone and thank you for joining us today to discuss our first quarter 2026 results. We delivered a solid first quarter in line with expectations, demonstrating the resilience of our business model and continued progress against our strategic priorities. Revenues increased slightly and same store sales were flat even with the impact of our strategic inventory initiatives. Importantly, We are pleased with our inventory levels, and despite a highly competitive environment, we believe we are operating from a position of strength. Our inventory mix and age profile are healthy, and our OEM partners continue to be supportive while maintaining disciplined production schedules. This has allowed us to sharpen our focus on disciplined execution as we navigate the current environment and position the business to benefit as industry conditions improve. We successfully completed our strategic brand initiatives last year. While the first quarter is typically the smallest from a seasonal standpoint, we are beginning to see the benefits of those brand rationalization efforts reflected in our gross margins. First quarter margins were better than expected, also driven in part by a favorable model mix. We expect the positive impact of discontinued brands to be realized in different levels throughout the year, and we remain confident in the long-term benefit of these strategic actions. As part of our ongoing portfolio optimization efforts, we have decided to sell certain distribution segment assets that are no longer core to our long-term strategy. This decision reflects our focus on simplifying the business and allocating capital to areas with the strongest strategic fit. This action is not a reflection of underlying operational performance, but rather an opportunistic step to sharpen our focus and strengthen the balance sheet. We expect proceeds from the transaction to enhance financial flexibility and support our capital allocation priorities going forward. With the strategic actions we have taken to optimize our portfolio, improve our cost structure, and enhance our balance sheet, OneWater is well positioned to continue gain share, and expanding profitability as conditions normalize. With that, I will turn it over to Anthony.