Thank thank you, Mike, and all for call. our joining you
stable first as negative sequential the results a standpoint were quarter boat had manufacturing anticipated. to we to again marine inventory compared and The key compared headwinds Second same floors. themes We order industry remained for hesitation from prior as however, aggressively quarter, and to grappling with products are showroom and is dealer to no remain boats attempt they our from the their competitors clear exception. still year
on excess Compounding pressure or carrying dealer relatively with interest inventory up costs. issue high, the rates that keeping remain
But soft near to being and put, proactive hamper the the results schedules period. believe simply financial term. in are these We in costs will our managing we during challenges continue production
lower demand. we've reduced our As schedules we align production quarter, said with to last
that even efficiently projects We to once to normalized continue we to operations undertake time returns. so more this demand improve operate will use plant
the inventory, comments comfortable inventories But quarter I'll high are field. dealer we in we of level from to remain last our to continue that my products regard hear were With pleased many in quarter. quarters issue over with the declined that increasing our categories we XX% dealers, where several field After the often of do field not an compete. inventories, inventory in for second still echo we
to demand, and we are with of these support to motivate believe We programs help maintaining our promotions incentives financing continue elevated dealers light in costs. have consumers our we as crucial extended them to stimulate
you are closely that recent many watching the are relief. outlook, we interest As commentary some rate suggests are interest of encouraged we economic nearing rate
cut and While sentiment we cuts have a to don't lower. that it impact potential trend future move be a on towards dramatic rates believe a improved first could financing Fed single would step demand, will additional costs
annual are dealers excited our to costs year, we as have Largo particular celebration anniversary. we our XXXX we're at launching Key XXth As in host the mark This Chaparral for brand's will model our conference August. we in year,
options we of design, second businesses has with reputation connect result say our believe innovation, we from how or model boat boats introduce some decades, none. their our to consistent Chaparral brand of and we conference, in Chaparral bringing for incremental year. and are for stealing see can Robalo improvements and Without and satisfaction leading innovation We R&D the value ahead dealers, its with wait the as a surely models exciting we and for can thunder changes can't to new and a been forth for a support the programs. new pleasure our both year and customer host to celebrate them
partnerships. listening our in and to our to our consumer seeing our out our customers we from boats. continuing there you listen the efforts are in August dealer to a and new dealers standards designs brands. features, our colors, offerings model materials and when opportunity to pride refine great designing approach options, give and that year to look as take they each to maintain call, collaborative high We to the forward accustomed Again, We feedback
Now Mike results. overview an financial will the provide of
