Inventory And SalesEquipment sales struggled due in particular to a $5.1 million combined downdraft at three of NAPCO's largest distributors.
Macroeconomic ConcernsFeedback from distributors, dealers, and installers indicates that macro-driven concerns such as tariffs, inflation, and high interest rates persist.
Operating FundamentalsNear-term operating fundamentals deteriorated throughout the first quarter, with intensifying macro pressures suggesting further deterioration.