Operator

Good morning. My name is Angeline, and I will be your conference operator today. At this time, I would like to welcome everyone to the Decisive Dividend First Quarter 2026 Results Conference Call. [Operator Instructions]

We remind you that today's remarks may include forward-looking statements and non-IFRS financial measures that are subject to important risks and uncertainties. For more information of these risks and uncertainties, please see the applicable sections of the Decide Dividend's news release and MD&A, which are on their website and are filed on SEDAR.

I would like to turn the conference over to Jeff Schellenberg, Chief Executive Officer; Rick Torriero, Chief Financial Officer; and Chris Goodchild, Chief Operating Officer. Please go ahead.

Jeff Schellenberg
CEO & Director

Thank you, operator. Hello, and good morning, everyone. This is Jeff Schellenberg. I want to welcome everyone to our Q1 2026 earnings conference call. The first quarter of 2026 was another testament to the resilience of Decisive portfolio of manufacturing businesses in the face of ongoing trade and economic volatility. The benefits of diversification in our portfolio of businesses were demonstrated in Q1 2026 as strength in agriculture and wear parts businesses help buffer the impact of the decline in demand from certain commercial vehicle and oil and gas customers as well as the seasonality for the company's hearth businesses.

Relative to Q1 2025, Q1 2026 sales of $37.9 million were 3% lower despite the commercial vehicle and oil and gas customer-specific declines that we have discussed in the last couple of quarters and lower year-over-year wastewater evaporator sales that