Overview Key strengths Key risks Strong position in niche market for truck bed covers and several adjacent product categories. Operates in the fragmented automotive aftermarket that sells into highly discretionary consumer end markets. A highly variable cost structure with low capital intensity supports free cash flow generation. Exposure to inflationary cost pressures stemming from materials, labor, and freight. A highly leveraged capital structure and an aggressive financial policy given financial sponsor ownership. We expect the company?s revenues will be about 10% lower in 2023 as consumer spending weakens, particularly for discretionary automotive aftermarket products such as truck bed covers, lift kits, and similar accessories. While revenues are forecast to be lower in 2023 for RealTruck, we anticipate its recent pricing
