With further sales gains in its core retail channel, and successful new products, Flexsteel delivered a 6.2% year over year sales increase in 1Q:F26 of $110.4 million compared to our estimate of $105.4 million. Also benefiting from a higher than expected operating margin and lower tax rate, September quarter EPS of $1.31 was way ahead of our $0.78 estimate. However, with new Section 232 tariffs on imported upholstered furniture taking effect just a week ago, management noted in last night's press release that the business faces significant risks and headwinds, as these tariff changes are expected to materially impact short-term sales and profitability. Ahead of the 9:00am ET conference call (833-816-1123), other that adjusting for the 1Q:F26 beat, we maintain our EPS estimates, which assume a recovery in F2027 after what is likely to be a challenging remainder of F2026. Our $47 price target is based on 14x our C2026 EPS estimate of $3.33. Our moderate risk rating factors in our expectation of an earnings recovery in F2027, the company's strong balance sheet and ample free cash flows.