for and Mike, you Thanks, thank our call. joining all
a will in colleague. than today I'm years. and of us. was he to missed and him the take was company started, with passed cancer. after and to news, and lucky friend with long-time I Head over to Before enough ] were be Marine of and courageous with here Products a Corporate also great worked we Jim He at contributor who He some like of XX sad those more by Relations a for weeks Jim [ get battle of so years, the ago unfortunate a And President ways. few Services, our listening moment Investor a long I'd closely share away many Vice tremendous Landers, sure truly you all to work
Shifting to our results.
last line quarter of improvement stability quarter compared profitability some First and of to in the showed on the essentially signs top fourth year. results
Overall, discussion very call. in the order uncertain our year-over-year challenging, signaled same. we and might our the is to face our as near-term played contending on much with the our feel to last with industry call that is were last very anticipated with similar dealer higher carrying remain quarter aggressively the out Book of and as channel today quite the costs. hesitant consistent comparisons things key flushed the and generally expectations plan were However, still floor demand inventory
managing We being schedules production in proactive soft costs during and are this period.
half said of we we production peak This quarter, levels work through be as production in our dealers with As in around the to current below last range line production reduced XXXX. have mid-XX% our was first of rates of scale our magnitude inventories. order showroom back more demand in
want production of periods to we this plans certainly we projects we slowdown with surgeon the to this operational through from were demand be mid-XXXX. would to year orders, execute pandemic more undertake during are unable our advantage Although to taking fill of our
consistency processes tooling, inventory, comments to I'd to my with maintain comfortable we dealers, often the Examples pre-pandemic are to our many note we We would categories DNS an But in that hear in levels. continue products high and evaluate the pretty last regard quarter our below issue solidly production schedules. With compete. inventories other and of level improved inventory like from repair where still not is that [ deal. ] do for remain assembly fuel include projects alternative lamination we of to dealer remind that
higher given However, carrying [ the more to levels costs. of we not return demand, may regardless those need of ]
see the for encouraged first retail and marketplace sales We throughout typical the to monthly dealers, our are have continue quarter. ramp-up incentives in to attractive the trends reflecting
which in purchased are better larger early lower-priced shows buyers, purchases. at of reception are recent smaller, sold priced interest are since by most about which often trends with customers with the positive folks, There folks, XXXX product lineup. was rise in our excited boat Consistent also the rates financed cash
a of interest remains there that decline uncertainty and noting of the rates. worth timing regarding in is it great magnitude potential costs, deal borrowing of a Speaking
Fed by outlook. Expectations there have multiple cuts for economic clearly during rate XXXX. rate moderated in consensus been has data broad cloud interest So the the with mixed
is we factor will hands, out a things within our our control. on macro this focus of While
a maximize are projects We the on improve and by focus and law of operations support our the navigating our partnerships. to best cost making executing current dealers environment with this multiple efficiencies to continuing and our
overview provide Mike results. an Now the financial will of
