Thanks. From their CC, the CEO had a fairly reserved outlook.
As part of our ongoing operating process, we recently conducted an extensive market analysis. Included in the process are market research and analytics, customer visits and extensive supplier discussions. And what we realized is that the metalworking-related sectors have been particularly hard-hit relative to others. We've seen it in heavy industrial manufacturer and distributor comps. We've heard it extensively in discussions with our supplier community. We've seen it firsthand in our customers, and we've seen it in leading metalworking activity indicators. We've also heard that our share gain performance remains as strong as it's always been.
While there are certainly pockets of growth like commercial aerospace and automotive, the core of metalworking, segments like primary metals, machinery metal fabrication and others, is soft, softer than what's reflected in the broader ISM figures, which reflect an average across many industries.