the work team Thank during thank their to you, and good our I’d again, for continued everyone. Brett, morning quarter. hard also like
For sales, the quarter, revenue addition $XXX declined to in million, of offset same-store partially by the about to we IGY, October due which largely decrease X% acquired XX% a X.
amid to contributed industry’s an a the economic be noted, same-store in decrease continues climate, to reflected As seasonality to decline what the double-digit Brett quarter. units the which boating in uncertain in sales return
continue our to the market. lower of and other While the value in outperform coastal in interior performed our across those have meaningfully country, segment to categories, more ahead Geographically, other units regions tend the be of most and Midwest seasonal. the of were Florida brands which locations areas premium
relative January in March. same-store in and with continues they grow migration premium price in noting value positive in were to worth were It’s product. improved versus Average that unit February larger the and the selling sales down to strength
were by of the driven while to grew new margin gross XXX IGY a basis profit was about of increase our modestly dollars XX.X%, points well million, primarily down in The acquisition businesses. to as many $XXX March Gross performance as quarter record. strong higher-margin
which Excluding margins, quarter relatively margin in compared the down modestly indicate while IGI, year, does second that product prior were slightly healthy. gross with was down the
general. taking business around as performance on we businesses, To the our well our step XX-Q, second of provide related our businesses a beginning quarter our higher-margin in with more as are increase disclosures to higher-margin marina context
a manufacturing show our both that of retail categories basis our as as segments tables annually all have our XX-K. well add and operations will We percentage we categories specific like quarterly by product revenue on in for the done revenue
first $XXX increase accessories. We and a revenue and aggregate maintenance, as be opposed parts to largely year rental represents to the our same marina repair, we for to That from maintenance, XXXX in revenue, and and from storage, the marina-sourced repairs, locations. half will generated rental due from locations XXX% of non-marina storage, parts fiscal the also IGY. in providing million last period from our combined accessories Specific revenue
hope sales this as exclude well stickier, is information incrementally of considered you businesses. is about beneficial revenue We as all brokerage think sourced Marina the figures F&I. higher-margin our and performance as and boat those
decrease our statement. cruiser also $XX while million, the they sales expensed are of revenue IGY impacted a retail by that eliminated SG&A to the lower is margin SG&A the in timing to retail sales expenses partially the internal volume. of to sold, was and until SG&A income This the sales line buyers. at versus of offset stores commissions on currently. down are to addition internal means yachts rose attributable Moving primarily by
other environment, for focused on Like the opportunities reviewing companies staying this term. long expenses while we are in
rise portion well the by with performance. as the increase debt or based increased and consistent which a Additionally, reflecting Marina our commission-based related significant performance higher interest dealership rates team is IGY pay long-term Interest plans, acquisition on the as in fall higher million of expense inventory. model, company’s $XX.X and to on
adjusted this close the last was with year compared primarily to floor basis, due and lower with $XX interest quarter, half million EBITDA difference. expense with On $XXX up million year’s that to plan a interest in for of plan million was $XXX revenue second floor higher EBITDA year-to-date last million making Adjusted quarter $XX year. compared
generated or These change diluted amounts in net diluted basis, income reflect or fair million GAAP adjusted net On the amortization. per of share. for $X.XX asset $XX.X we line, intangible an million value $XX was the consideration and share. net of for the quarter On income bottom income adjustments $X.XX per contingent
at arrive per to also quarter share. $X.XX We gains two removed in the
sheet. equivalents on balance and of Moving than acquisition with last of year $XXX more due the million, cash cash the to from the quarter We IGY. to primarily modestly ended down
highlighted in are remarks, inventories As are to easing and return supply normalized chain constraints levels. his to Brett more beginning
and was to have typical is inventory which December, years, Our available product delays end to is from selling deliver quarter inventory for historical as into plenty the But to up it last head nice we up with season. at to past of XX% from year over patterns. few able $XXX XXX% the million seasonal be
unit are Having March below inventories same-store levels. still said that, well XXXX
borrowings year to from Looking million last inventories. March at $XXX at our rose increased short-term liabilities, due largely XX
summer high to as they very have deposits remain season. year-over-year, we customer selling flat and close are to Although December decreased the historically sequentially, enter levels
Consistent we lines with have totaled unlevered end, cash $XXX at additional form million. net less quarter past was of credit in Xx and inventory available the liquidity of that calls, than debt-to-EBITDA plus of
as prudent results, industry Based year uncertainty. FED-driven forecast recent return given this guidance. has trends, well anticipated than rapid the macroeconomic including retail believe to to a year-to-date lower XXXX we industry’s reflecting March challenging guidance. on combined it been is we to our seasonality Turning results our the that softer with Admittedly, to as
weigh us saw industry the in strength on The of more the it despite the environment macroeconomic to demonstrated year, may of challenges that March, than heavily last we seasonality. being ahead
assumptions sales would This to same-store imply year in year single-digit full range. a will down a be during our modest fiscal our decline industry the high lowering units from are we such, that double As decline digits.
industry is XX% the For in XX% first months, six like to units. something down our
us. we to-date, to As continue our have concentration product should seen benefit premium
sales of to decline. be generally our with XXXX, modest do past the to in which same-store rising We the a such is product should IGY. increase decline from as but inventory, We expect expect still percentage to given pressure mid-XXs. pressure but margin due was a expected guidance, be revenue by to offset elevated margins be consistent SG&A industry
also as assuming expense to the are well We revised interest outlook rates. is inventories higher-than-anticipated given sales due elevated as
exceeding generally IGY, rates. year’s consistent combined higher the the account tax part U.S.-based which in pretax of of increase earnings and change rate international XX% and the to addition to interest our income, share floor declining performance. $X.XX will due change tax is per rate international trends, around plan for With with tax Interestingly, last over from expectations,
share the to of line, full $X.XX our a the we of in assumes per adjusted be bottom guidance earnings On range now year expect $X.XX. XX.X million shares. XXXX to share count This
In addition, XXXX to the $XXX in we to adjusted million are EBITDA of forecasting be million. $XXX range
trends, good sales modestly be are at same-store Looking year’s which April down was a to current April, last expected from month.
Brett will for I closing comments. over that, back call With turn to the
