Thank you, Rob. Good morning, everyone, and thank you for joining us for Worthington Enterprises Fourth Quarter Fiscal 2025 Earnings Call. On the call today are Joe Hayek, our President and Chief Executive Officer; and Colin Souza, our Chief Financial Officer. Before we begin, I'd like to remind everyone that certain statements made during today's call are forward-looking in nature and subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. For more information on these risks and uncertainties, please refer to our earnings release issued yesterday after the market closed, which is available on the Investor Relations section of our website. Additionally, our remarks today will include references to non-GAAP financial measures. Reconciliations of these measures to the most directly comparable GAAP measures can also be found in the earnings release. With that, I'll turn the call over to Joe for opening remarks.

Thank you, Marcus, and good morning, everyone. Welcome to Worthington Enterprises Fiscal 2025 Fourth Quarter Earnings Call. It's been a great fiscal 2025 for us on several fronts. We're exceptionally proud of and grateful for our people, who continue to work safely, taking care of each other and our customers. We're a people-first company, and our culture powers our success. So to all of my colleagues, thank you. In the quarter, we delivered year-over-year and sequential growth in revenue, adjusted EBITDA and earnings per share, driven by great work across our teams in Building Products and Consumer Products. Our revenue in Q4 was up 14% from last year, excluding the deconsolidation of SES, and was up 8%, excluding both SES and revenues at Ragasco. Gross margin was 29.3% versus 24.8%. And adjusted EBITDA margin in the quarter was 26.8% versus 19.8% in Q4 a year ago. Our results in Q4 reflect our strategy in action. We are delivering on the commitments we make to each other and to our customers every day as we optimize our current businesses and grow Worthington. And we continue to leverage the Worthington business system and its three growth drivers: innovation, transformation and M&A to maximize both our near- and long-term success. On the innovation front, we've made great strides this year. The success of our new Balloon Time Mini has created opportunities for us in new channels and we recently began partnering with CVS. You'll soon be able to buy our suite of Balloon Time products in their stores nationwide. HALO Griddles continue to receive accolades from various publications and in Q4, Men's Journal and CNET both named HALO as among the Best Griddles of 2025. Finally, our PowerCore cylinder was part of the solution 3M leveraged to develop their 3M Fastbond water-based adhesives, which in April won the Adhesives and Sealants Council's 2025 Innovation Award. Our teams continue to focus on productivity improvements across our network by leveraging transformation. These efficiency gains driven by automation and technology continue to contribute to our success. Our team in the water business has made good progress as they embrace 80/20 as a way of thinking differently. While it's early, we're confident that 80/20 will have a positive impact on that business and eventually across more of our value streams. Strategic M&A that leverages our core capabilities is the third vital leg of the Worthington business system that powers our growth. Last week, we were in New Jersey with our new colleagues at Elgen Manufacturing announcing that acquisition. Elgen is a leader in HVAC components and structural framing for commercial buildings and is a strong strategic and cultural fit that complements our existing Building Products business. It's a great example of how we apply our investment criteria to identify and acquire companies with leading positions in niche markets that we believe will be accretive to our margins and cash flows. The Elgen team has much to be proud of, above and beyond their over $115 million in LTM revenue and $13 million in adjusted EBITDA, that are positioned for growth, and we think we can help them accelerate that growth, especially with coiled steel, something with which we have deep experience. Their processes, go-to-market strategies and end markets mirror ours, creating meaningful opportunities for synergies and growth. We are thrilled to welcome their 250 employees to Worthington and look forward to their contribution to our collective success. For seven years, we have championed the idea that people are our most important asset. That conviction makes it particularly gratifying for us in Q4 to have been named the Top Workplace in central Ohio for the 13th consecutive year and in our first year as Worthington Enterprises. In the quarter, we also announced the U.S. Army Partnership for Your Success at our facility in Wisconsin. We're very proud to be part of this unique program, partnering with the U.S. Army as they integrate veterans into the workforce after their service to our country. Our powerful people-first performance-based culture continues to serve us exceptionally well, and we leverage that strength every day as we focus on both the near term, executing our strategy and managing tariff and economic uncertainty and on our long-term growth aspirations and performance. We're happy to be here today discussing our Q4 results as we are constantly thinking about and investing in our future. Leveraging our culture, the Worthington business system and our strong balance sheet, we believe we are very well positioned going forward. Our focus is on our people, our customers, our value propositions, and the opportunities we have to continue to improve everyday life by elevating spaces and experiences, which will ultimately enable us to create long-term value for shareholders. We'll now turn the call over to Colin, who will take you through some details related to our financial performance in the quarter.

Thank you, Joe, and good morning, everyone. We delivered strong financial results in Q4 to close out our fiscal year, even with a few unique items impacting comparability. On a GAAP basis, we reported earnings from continuing operations of $0.08 per share compared to a loss of $0.64 per share in the prior year quarter. Our quarterly results included the following unique items: a negative impact from net pretax restructuring, impairment and other onetime charges of $61 million or $0.98 per share. These charges were primarily related to a noncash impairment associated with our General Tools & Instruments business or GTI and Consumer Products along with a noncash impairment charge related to our equity investment in the Sustainable Energy Solutions joint venture and related investments. Both GTI and SES represent a relatively small portion of our overall business, and these actions reflect updated long-term assumptions for these assets, inclusive of the changing tariff landscape. The prior year quarter included pretax charges of $74 million or $1.38 per share primarily related to the deconsolidation of SES. Excluding these items, adjusted earnings from continuing operations was $1.06 per share, marking another strong quarter for us at Worthington Enterprises. This compares to adjusted earnings from continuing operations of $0.74 per share in the prior year quarter. Consolidated net sales for the quarter were $318 million, essentially flat compared to the prior year period. This reflects the deconsolidation of our former Sustainable Energy Solutions segment which contributed $40 million in sales last year. Excluding SES in both periods, net sales grew nearly 14% driven by higher overall volumes and contributions from the Ragasco acquisition. Gross profit increased significantly to $93 million, up from $79 million in the prior year quarter, reflecting an approximately 450 basis point expansion in gross margin to 29.3%, consistent with the levels we reported in Q3. Adjusted EBITDA for the quarter was $85 million, up from $63 million in Q4 of last year and sequentially higher from $74 million in Q3. Adjusted EBITDA margin was 26.8%, up from 19.8% last year. For the full fiscal year, adjusted EBITDA was $263 million with a TTM adjusted EBITDA margin of 22.8%. The second half of our fiscal year tends to be seasonally stronger, and this year follows that pattern, suggesting a return to normalized seasonal trends. We've been adding capacity in our heating, cooling construction and celebrations product lines in response to our customers who have, in some cases, seen significant increases in demand and value of domestic manufacturing partners. Turning to our cash flow and capital allocation. We continue to invest in our operations while maintaining a disciplined and balanced approach. During the quarter, we invested $13 million in capital expenditures, including $8 million related to our facility modernization projects. We also returned capital to shareholders, paying $8 million in dividends and repurchasing 200,000 shares of our common stock for $10 million at an average price of $49.16 per share. Our joint ventures generated $41 million in dividends during the quarter, representing a 95% cash conversion rate on equity income. For the full fiscal year, we invested approximately $51 million in CapEx, including $25 million related to our facility modernization projects. We have approximately $40 million remaining to spend on these projects, and we expect the majority of this to be spent over fiscal year '26 with completion anticipated in early fiscal year '27. Cash flow from operations for the quarter was $62 million and free cash flow was $49 million. For the full fiscal year, free cash flow totaled $159 million, representing a 103% free cash flow conversion rate relative to our adjusted net earnings. Turning to our balance sheet and liquidity. We closed the quarter with $303 million in long-term funded debt during an average interest rate of 3.6%, along with $250 million in cash. Subsequent to quarter end, in mid-June, we used approximately $93 million of that cash to complete the recently announced acquisition of Elgen Manufacturing. Our leverage remains extremely low with ample liquidity supported by a $500 million undrawn bank credit facility. Net debt at quarter end was $53 million, resulting in a net debt to trailing adjusted EBITDA leverage ratio of less than 0.25 turn. Yesterday, our Board of Directors declared a quarterly dividend of $0.19 per share, an increase of $0.02 or 12% relative to the dividend paid last quarter, payable in September 2025. We are very pleased to continue rewarding shareholders as we deliver strong earnings while prioritizing and investing in long-term growth. I will now briefly walk through our segment performance where both businesses delivered excellent results to close out the fiscal year. In Consumer Products, Q4 net sales were $126 million, essentially flat compared to the prior year quarter, with a slight increase in volume. Adjusted EBITDA was $21 million with a 16.6% margin, up from $17 million and 13.6% in Q4 last year. The improvement was driven by lower SG&A expenses and a more favorable product mix. The consumer team continued to execute well in Q4, delivering higher profitability despite uncertainty in the broader consumer environment. As we have seen throughout the year, volumes remain closely tied to point-of-sale activity, and while consumers remain cautious, our market-leading brands and strong retail partnerships position us well. Our products remain highly relevant and valued by consumers as they elevate everyday experiences around outdoor living, celebrations and home improvement. With a solid foundation in place, we believe we are poised for long-term growth as market conditions normalize and consumer confidence and repair/remodel activity improves. In Building Products, Q4 net sales grew 25% year-over-year to $192 million, up from $154 million in the prior year quarter. This growth was driven by higher overall volumes, along with the contributions from the Ragasco acquisition completed in Q1. Q4 is typically our strongest seasonal quarter for building products, and this year was no exception with volumes up 19%, both sequentially and year-over-year. Adjusted EBITDA for the quarter was $71 million, 37% of sales, compared to $52 million and 33.6% in the prior year quarter. Year-over-year increase in adjusted EBITDA was driven by volume growth and a combined $6 million increase in equity income from WAVE and ClarkDietrich. WAVE delivered another solid performance, while ClarkDietrich continues to navigate a mixed demand environment and competitive pressures exceptionally well. Overall, the Building Products team had a strong finish to the fiscal year and continues to win with customers by providing reliable service, product innovation and value-added solutions. Our portfolio of market-leading products and solutions support critical building systems and components that elevate the spaces where people live, work and gather. As we look ahead, we remain confident in the long-term outlook for our Building Products business, and the recent addition of Elgen Manufacturing strengthens our offerings and further supports our growth strategy.

And your first question comes from Kathryn Thompson from Thompson Research Group.

For this quarter you reported that the theme is quite similar to the previous quarter, which experienced solid margin expansion for your wholly-owned margins. While we recognize that some of this is a result of easier comparisons, a significant part is attributed to company initiatives. Can you clarify what portion of the margin growth is one-time and how much is driven by company-specific initiatives?

Yes. Thanks, Kathryn. So as you said, we had a good gross margin expansion in the quarter, a 450 basis points. Similar to last quarter, we did have in Q4 last year, we completed the transaction for our SES business. So deconsolidated that from our financials, that led to roughly half of the 450-basis-point margin expansion in the quarter. And then the balance of that was really driven by in the wholly-owned building products business, significant volume growth, which translated to good conversion costs, and good product mix improvements. As that business in the end markets there really returned to seasonally normal demand patterns, in particular, some of the higher-margin products like the large-format heating tanks there. So ultimately, those things combined led to the operating margin improvement. And this will be the last quarter for the SES flat.

Yes. And Kathryn, Colin is absolutely right. We have a couple of other things. And when you talk about company-specific initiatives, you're absolutely right. And we've talked about this in the last couple of quarters. When you see gross margin go up by $14 million and SG&A go down by $2 million year-over-year, that's not an accident. And our teams have been doing a fantastic job of optimizing our businesses and certainly growing our businesses, as Colin said, because our conversion costs come down. But our goals over the next couple of years, which we've talked about, is to get gross margin over 30% and to have our SG&A as a percentage of sales at 20 or less. And so we're not there yet, and we know that we have work to do, but we feel like we have plans in place and people are really leaning in and we're pretty convicted and excited about where we can go in the next couple of years.

I wanted to shift to WAVE, where contributions exceeded $30 million this quarter for the first time. Can you discuss the factors behind this? Is it related to the timing of projects, pricing, or an actual increase in volume demand? Is this level sustainable going forward? Additionally, could you provide some context on how to assess WAVE based on current market observations?

Great question. It's a mix, Kathryn, of all the things that you mentioned, a little bit on the volume side. Certainly, it's a great business, and they do a really good job taking care of their customers and understanding how customers can make more money using their products, and that allows them to generate returns that they're entitled to. But I would say from an end market perspective, they continue to see relative strength in healthcare, education, transportation, retail was okay. Office is still a little soft, obviously, not a lot different than it would have been when we were together in March. So more, I think, steady as she goes there, I think as the rest of the year plays out, that will have a lot to do with both WAVE and ClarkDietrich and our businesses on the Building Products side. So it's a little bit dependent on markets, but we kind of feel like steady as she goes for WAVE.

Okay. Regarding ClarkDietrich, the joint venture is closely linked to traditional commercial construction. However, there was a notable increase of $13 million, which exceeds the sub-$10 million range seen in recent quarters. Does this indicate that we've reached more of a low point, or is it a sign of some demand? Or is it more reflective of the timing, pricing, and true volume demand we discussed in relation to WAVE?

Another very fair question. On ClarkDietrich, what we know and what you point out is there are a couple of differences. It is much more new construction centric versus R&R on some of our core businesses and on WAVE. So it's a bit more exposed to higher interest rates, and it's a bit more exposed to that commercial construction, which is a bit more challenged and has been challenged, and we think in the next several months will be more challenged. And so we actually view Q4 for us as a reflection of ClarkDietrich being a market leader and having a great value proposition, but probably a little more of, at least in the near term, an aberration. And so we would look for ClarkDietrich to be in Q1 at least probably closer to flat with Q1 of last year.

Your next question comes from Daniel Moore from CJS Securities.

If I missed it, forgive me, what were the revenue and EBITDA contributions from Ragasco in the quarter if you break those out? And what are your expectations for organic wholly-owned top line growth, both Consumer and Building Products for Q1 and the balance of the year? I know you don't like to give specific guidance. But just wondering if you expect to generate positive organic growth in fiscal '26? Or are we thinking closer to flat given all the current macro uncertainty?

Thanks, Dan. I'll take the first part of your question, and then we'll attack the latter part. So on Ragasco, specifically, very, very happy with that acquisition. They continue to perform well. Within the quarter, they contributed roughly $16.5 million in revenue and a couple of million dollars, roughly $2 million in EBITDA to the Building Products business. So it's adding to the year-over-year growth in Building Products, in addition to the base business is operating very well, as I mentioned earlier, where those end markets are and products are returning to seasonally normal demand patterns there. So very pleased with Ragasco so far and excited of what's to come as well.

Yes. Dan, regarding Q1 and beyond, you're correct that we don't provide specific guidance. The market outlook hasn’t changed significantly since March, remaining somewhat unclear. Unemployment is relatively low, interest rates are persistently high, and consumer confidence is improving but still moderate. There's considerable tariff uncertainty, along with various global economic factors affecting consumers and the Building Products sector, which has led to limited visibility. In March, shortly after our discussion, we faced numerous tariff announcements, and now in early July, we might see new insights regarding trade policies and tariffs. Our primary focus is on serving our customers, and I view the coming months as a reflection of the last quarter. In terms of the quarter, let's consider Consumer and Building Products. For Consumer, we maintained performance in Q4. Last year, Q3 was strong for Consumer due to certain storms, but Q4 did not meet our expectations. This year, however, Q3 was excellent and Q4 performed significantly better. Two factors contributed to this improvement: our enhanced support for retailers ensuring consistent product supply, and growth in our helium business driven by new products and supply chain efforts. Additionally, the bankruptcy of Party City and its store closures have increased demand for our customers selling our products, and we're glad to assist them. We believe this trend will continue. On the Building Products side, we have more visibility in the coming months due to trends in our cooling, heating, and water businesses. We will also see the impact of Elgen’s results for part of June and all of fiscal 2026. Overall, we feel positive about the aspects we can manage and are cautiously optimistic about the next six months, although not everything will be within our control.

Understood. Appreciate it, Joe. Maybe just provide a little bit more detail on Elgen, how it came about, how their HVAC components fit into the rest of your wholly-owned building products and any potential revenue or cost synergies?

Sure. As we mentioned, the acquisition exemplifies our strategy in action. They are leaders in a niche market with roll form steel, and we can assist them with that. They purchase coils of steel, an area where we excel. Their operational footprint is solid, and we believe we can contribute positively there. They serve the same types of customers we have, particularly in Building Products distribution, which presents significant opportunities for synergies in both revenue and efficiency. We're just one week in, making it difficult to quantify anything at this stage, but we are enthusiastic and have personnel on-site aiding in the integration with Worthington. It’s early days, but we remain optimistic and excited.

And just out of curiosity, the purchase price is pretty attractive. It's, I think, around 7x EBITDA. Anything with the word HVAC in it, generally trading at much higher levels. So just talk about maybe the customer base they serve and kind of growth outlook organically would be really helpful.

Yes. Dan, regarding Elgen, their main focus is on Building Products distribution, but they also serve contractors. Through our mergers and acquisitions process, which we have discussed previously, we continue to identify promising opportunities and niche markets within Building Products and Consumer Products. We've pinpointed HVAC components as one of these appealing areas. The M&A market is somewhat softer compared to historical levels, but we are fortunate to have completed this transaction. We are excited to invest in this niche market and, as Joe mentioned, we look forward to the potential of this business and our collaborative efforts.

Your next question comes from the line of Susan Maklari from Goldman Sachs.

My first question is on steel. Can you talk a bit about what you're seeing in terms of input costs across the business? And maybe how you're also approaching pricing relative to any inflation that you're seeing there, just given the softness that we are seeing across both the Consumer and perhaps some of that Building Products base.

Yes. Thanks, Susan. So just on the steel market, in particular, it is a big input cost to our products. The steel market, as you've seen, there's a run-up in pricing in April and it's come back down and a little range bound recently, but our teams are really working hard just around price risk mitigation, and we're hedging as necessary to support our customers and offer prices that are locked in. And ultimately, for us, it's about mitigating any volatility of those costs within our results. And we continue to do that. We've been working through that for a long time with our price mitigation and price risk teams, and we don't anticipate any volatility as a result of that coming through here. And then just on the price and mix piece, we've talked about it a little bit just around as our Building Products, in particular, is a good story around margin expansion in the wholly-owned business with the increased volume there. We saw some good improvement from a conversion cost perspective that has trickled through the results as well.

Okay. That's helpful. And then turning to the modernization efforts. It's good to hear that, that spend is coming through, and it seems like it's been a really good effort there. Can you talk about the benefits that we should expect as we look to fiscal 2026? Anything that you're especially focused on? And how we should think about perhaps some of that flow through across the various segments?

Sure, Susan. So some of that is in '26. But if you remember that there were two specific facilities. One is in Columbus and the other is in Wisconsin. We spent $16 million, $17 million, $18 million over the last couple of years in our gas grill, aluminum forklift and other refillable tanks here in Columbus automating and really investing in that business to be able to increase throughput and ultimately increase our efficiencies. That's served us well, and I think will serve our customers well since a lot of them have seen an increase in demand, and as a domestic manufacturer, our supply chain is pretty tight. And so we've talked about some of the things that we're able to do in cases of natural disasters and things like that. The other piece, which is really in the camping gas business and some of our torch businesses up in Wisconsin, that will run through probably another 15 months from now. And so the benefits from that won't really manifest themselves until maybe later in fiscal 2027.

Okay. And then just one last question. You mentioned in a response to a prior question that the M&A pipeline has perhaps softened a bit, just given the backdrop that we're in. Can you talk a bit more about capital allocation, how you're thinking about the potential for deals in this environment? And it was nice to see the dividend raise come through yesterday. Any thoughts on how you're balancing M&A versus shareholder return?

Yes, great question. I'll start by sharing some thoughts for about 30 seconds, and then Colin will provide his insights. Our approach to capital allocation has always been balanced. We're not aggressively buying back shares due to our focus on growth, but not at any cost. As Dan mentioned, we identified an acquisition that aligns well with our strategy and offers good value. Consequently, we increased our dividend by 12%, a decision made by the Board of Directors yesterday. We remain committed to a balanced strategy, and I'll let Colin elaborate on the M&A pipeline.

Yes. So Susan, the M&A market, I would say, are softer. Our pipeline on process, what our team is focused on is really identifying targets, both could be private equity owned, could be family-owned private companies and progressing those through the pipeline, having a number of conversations, and ultimately, it takes buyer and seller to come together to agree on something that we were fortunate to get that something done on Elgen Manufacturing. So we're continuing to focus there as a key part of our growth strategy. As Joe mentioned, the Elgen acquisition is our strategy in action, and our capital allocation focus will definitely include M&A in the future. With that being said, we do feel like we've got good free cash flow generation from the business, $159 million this year, this fiscal year and are mindful as well about the facility modernization spend that we talked about earlier, which will be elevated from a CapEx standpoint here for the next 15 months or so.

Yes. I mean, bottom line, Susan, uncertainty with tariffs and interest rates and things like that tends to be a little chilling for the M&A market generally. But I would tell you that our teams are engaged in strategic conversations today talking to folks and where it makes sense, we'll continue to have those conversations and would look to continue to grow, certainly both organically but also through M&A.

Your next question comes from the line of Brian McNamara from Canaccord Genuity.

Congrats on the strong results. So I'm curious what you're seeing in the marketplace as it relates to tariffs being a domestic manufacturer, presumably your advantage, but a lot has changed as you mentioned on China tariffs since your Q3 report in late March. What specifically are your China-sourced competitors doing that you're observing? Are they running down inventories on hand? Have they already taken price on the shelf? Are they doing something else? That would be helpful.

I’m not sure if the answer to your question is yes. We first discussed tariffs back in December and revisited the topic in March, and it’s timely to address it again now. It's been an interesting six months as people continue to plan and react. We'll need to keep adapting. Only about 7% or 8% of our revenues come from overseas, mainly in Asia, while around 80% is generated domestically in North America, and another 12% to 13% comes from Europe. In our tool businesses, including GTI, Level5, and HALO, our mitigation efforts have involved asking suppliers to help us find cost savings whenever possible, and if necessary, we may consider price increases. Various approaches have been taken, with some already implemented while others are still being figured out. We will remain flexible and closely engage with our customers. Our products are quite differentiated, and as a domestic manufacturer, we've increased capacity in several areas to support customers experiencing rising demand. It's challenging to provide a definitive answer since the trade environment could change soon, but we feel reasonably optimistic about our position.

Great. And then secondly, on gross margins, there has been a significant improvement in the second half of the year. I believe you mentioned that the third quarter is usually a bit stronger than the fourth quarter, and they are somewhat aligned. So, is it fair to assume that gross margins of around 29 percent could be maintained next year? I understand that the medium-term target is 30 percent. I'm just trying to grasp the details here. I also know that the first half of the year is generally weaker than the second half. Any insights on the gross margin expectations for next year would be appreciated.

Yes, thank you, Brian. We've experienced a couple of consecutive quarters at 29%. You're correct that Q3 and Q4 are typically stronger. We believe that margins won't drop significantly lower than that in the future. We're committed to increasing them to 30%, as Joe mentioned earlier. In the near and medium term, we'll focus on raising that figure as much as possible.

Okay. And then finally, on Elgen, just three quick ones. One, in terms of modeling any seasonality on revenues. Two, I think the trailing 12-month EBITDA margin was a bit south of 12%. Is there a path to get that to 20% just in line with your M&A framework? And if so, how do you get there? And then three, is there any China sourcing there?

So good question, Brian. On Elgen, roughly $115 million in revenue, $13 million was their trailing EBITDA. Seasonally, the second half of the calendar year tends to be a little stronger for them and where they play. From a margin standpoint, we feel, as Joe mentioned, this is attractive business for us to really deploy our business system, the Worthington business system. And what we feel like we can bring to them is a lot of operational experience, know-how, efficiencies, some benefits from a purchasing standpoint and price risk. And then complement that with where we play from a channel perspective and serving a number of areas across the Building Products space and overlap with customers. So that's on top of a strong leadership team and the cultural fit that they have. So we're excited to get to work together, and we'll absolutely be focused on improving the margins there.

Yes. They don't have any sourcing from China.

Your next question comes from Walter Liptak from Seaport Research.

This is Walter Liptak. Great quarter, and I wanted to ask about Building Products. You've provided some detail about the tariff impact, but I wonder if we could specifically discuss Building Products and your thoughts on how tariffs have affected pricing, supply, demand, and similar issues.

Yes. It's quite challenging for us to quantify that because it remains somewhat unpredictable. I believe our teams in both Consumer and Building Products have performed well. We have moved past the destocking phase and some related phenomena, and we're witnessing significant strength in our cooling and construction business as various factors are developing in the North American Building Products market. They have effectively increased volumes, which lowers conversion costs and ultimately raises margins.

Okay. Great. Along those lines, I think you're touching on this question, but in Building Products, it seemed from your prepared remarks that you might be gaining some market share or there could be an opportunity for that. Could you elaborate on this?

We are focused on establishing leadership in niche markets by effectively utilizing the Worthington business system for innovation, transformation, and mergers and acquisitions. This approach allows us to engage with our customers as they consider their own markets and challenges. We are making a concerted effort to understand their pain points. Recently, we've seen increased demand from customers in areas like heating, cooking, refrigeration, and celebrations. In response, we've made historical investments, added capacity, and increased shifts. While some of this may be linked to our position as a domestic manufacturer, we cannot precisely measure its relation to tariffs. However, we believe our strong supply chain is a significant factor in our success.

Okay. That sounds great. And then in your prepared remarks, also, Colin, I think you talked about consumer mix. Was that consumer mix, the Balloon Time? Or is there some other consumer mix that was positive for you guys?

Yes. So good mix in Balloon Time, yes, performing very well. Joe mentioned it earlier, we make inroads on new product development there with the Mini tank as well as channel expansion that we're seeing there. So absolutely the Balloon Time and the other products contributing well as well, and demand is holding up similar to what we saw last quarter.

Thank you, Walter. We have much to be proud of, and as I mentioned earlier, our culture is a significant advantage that helps us attract and retain top talent for extended periods. People improve the longer they stay in their roles, and we have many dedicated individuals who have been putting in hard work not just over the last 90 days, but also over the past six to eighteen months. As we reflect on our potential, we're pleased to discuss our Q4 results. We've always maintained a focus on both the immediate and the long term, which allows us to continue investing strategically. We discuss with our team not only how we achieve success today but also how we will win in the future. This involves ongoing investments in our interconnected culture, automation, AI, and leadership in niche markets, alongside impactful strategic acquisitions. We believe we are well-positioned for the long term, despite navigating some tariff and economic uncertainties. Our value propositions remain strong. Our vision is to enhance spaces and experiences; this might mean making a room more comfortable or visually appealing, or providing the means for someone to enjoy an experience. In challenging times, such as during a recession, travel may become harder, leading people to seek enjoyment at home or in nature instead. Sometimes, our products can help during tough situations, like natural disasters, making things a little better for those affected. Our goal is to take care of our customers and execute our effective strategies. While there may be challenges ahead, we see many growth opportunities for the future, and we are optimistic about what lies ahead for our teams.

And that concludes our question-and-answer session. I will now turn the call back over to Joe Hayek for closing comments.

Thank you, everybody, for joining us this morning. Have a wonderful 4th of July holiday and a great summer. We look forward to speaking to everybody again soon.

This concludes today's conference call. Thank you for your participation. You may now disconnect.