Fiscal year 2025 opened against a backdrop of economic uncertainty, shifting trade dynamics, and uneven demand across North American markets. These dynamics, combined with ongoing labor constraints, rising costs, and continued dependence on imported materials, created a complex operating environment for distributors and manufacturers across the sector. Goodfellow navigated these uncertain conditions to achieve a 6.6%, or $33.4 million, increase in revenues, while earnings decreased by $6.2 million as compared to last year. Recently acquired value-added lumber handling and kiln-drying assets in the U.S. had a meaningful non-recurring impact on results for the year, supporting solid revenue growth while generating significant integration costs that reduced earnings. Although broader economic conditions may support only stable and modest growth next year, Goodfellow enters the year with solid fundamentals that position the Company to manage uncertainty and strengthen its position as an industry leader.