Alta Equipment Group Inc. (ALTG) Q1 2026 Earnings Call

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Impact first quarter when you were exiting 2025. And when I look at, like, say, the last five years, and just I just kind of wanted to see differential. The average sequential decline over the last five years has been 18.5% and the median has been down 26.5% and you were down almost 40%. I guess the question is, do you see or maybe you haven't even thought about it, that this change with regards to depreciation and being able to expense is going to change the seasonality of the equipment business to where you would have perhaps more robust fourth quarters than you might have had historically in weaker first quarters for the same reason? Ed, I think the one big beautiful bill here in the declines or the increases and decreases, I think the numbers, as I recall, Q3, we did roughly $300,000,000 of new and used equipment sales I'm sorry, 200,000,000. Q4, we did $300,000,000 and then Q1 here, we do another $200,000,000 or so. And so that radical sort of or violent, if you will, up and down. I do think the one big beautiful bill, now that we have it was new for 2025. And so I do I don't expect it to be as violent going forward. I would be surprised. I think this was a lot of people that were waiting for that to be in place, maybe for a couple of years. But now that it is in place, I wouldn't we're always going to have year end buyers to take advantage of tax depreciation. But I my gut is telling me in my history that this year was a little bit of an anomaly. Okay. And then my last question shifting over to the rental fleet and it's been touched on. I mean, I think it's admirable and it's actually it's going to be pretty exciting as you bring this fleet in line and start improving the utilization rates of your rental fleet. You brought it down sequentially, looks like the l...