Allient Inc.

Thank you Craig, you may begin.

Thank you, and good morning, everyone. We certainly appreciate your time today, as well as your interest in Alliant. On the call today are Dick Rosella, our Chairman, President, and CEO, and Jim Michaud, our Chief Financial Officer. Dick and Jim will review our first quarter 2026 results, provide a strategic and operational update, and share our outlook. We'll then open the line for your questions. As a reminder, our earnings release and the accompanying slide presentation are available on our website at Alliant.com. If you're following along, please turn to slide two for our Safe Harbor Statement. During today's call, we will make forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those indicated. These risks and factors are outlined in our SEC filings and in the earnings release. We'll also discuss certain non-GAAP measures, which we believe will be useful in evaluating our performance. You should not consider the presentation of this additional information in isolation or as a substitute for results prepared in accordance with GAAP. We have provided reconciliations of non-GAAP two comparable gap measures in the tables accompanying earnings release, as well as the slides. With that, please turn to slide three, and I'll turn it over to Dick to begin.

Thank you, Craig, and welcome everyone. We entered 2026 from a much stronger position than we were in a year ago. Over the last several years, we have worked to improve the quality of the business, strengthening the balance sheet, driving structural cost improvements, and continuing to reposition the portfolio toward higher value motion controls and power applications aligned with attractive long-term growth trends. Our first quarter results reflect continued progress on that strategy with growth in revenue, gross profit, operating income and earnings, along with strong bookings to start the year. What I want to emphasize this morning is that our performance is not simply about putting up another quarter of growth. It is about continuing to improve the profile of the company. That matters as it demonstrates that the operational work we have been doing is translating into better financial performance and stronger positioning as we move through 2026. From an end market standpoint, the market sales mix does have an impact on the overall gross margins generated in the quarter. I would note that regarding the mix, we continue to experience strength from vehicle in the quarter, particularly in commercial automotive as demand carried over to some extent from the stronger than expected activity we discussed on our fourth quarter call. We are very encouraged by our progress in our industrial market, particularly industrial automation and power quality solutions supporting data center infrastructure. These are exactly the kinds of applications we are focusing our efforts on growing. They are aligned with durable sector drivers, they fit our technology strengths, and they tend to be more creative to margins over time. So when we talk about improving the quality of growth, that is what we mean. We are also continuing to deepen our role as a solutions partner with OEM customers by focusing on higher value engineered systems and platforms not just individual components. That approach supports stronger customer engagement, better competitive positioning, and importantly, a more favorable margin profile. On a demand side, orders are up 15% year over year and up 9% sequentially, resulting in a book to bill of 1.14 times. This is an important indicator for us as it reflects improving momentum in key end markets and supports a constructive view as we move through the balance of 2026. At the same time, I would also note that the first quarter did not fully reflect the leverage potential of the business. We absorbed elevated operating costs, including carryover expenses associated from the Dothan transition, along with other targeted investments to support ongoing operations. While adult and transition represents a near-term cost headwind, the actions underway will simplify operations, improve quality and efficiency, and enhance long-term profitability. This reflects our Simplify to Accelerate Now initiatives, or Stand for Short, in action from an operational standpoint. Less visible, but equally important, are the significant internal investments we are making in our core business, particularly in R&D and product development. Our objective is to strengthen our electronic stack, further leverage our electromagnetic technologies to address high-growth market opportunities, and expand the use of our lightweighting capabilities to create a durable competitive advantage for both Alliant and our customers. Our recent technology acquisitions have created a strong technology base, and we are now aligning them more tightly with our core business to capture the benefits of scale and compounding. This further demonstrates stand in action as we reposition the company for sustained future success. One example is our initiative to bring state-of-the-art Alliant Intelligent Controls products to market as quickly as possible. To enable this, we made a deliberate shift within one of our technology units, moving away from project-based, one-time revenue opportunities towards scalable, market-facing products aligned with our long-term strategy. While this decision resulted in a near-term reduction in revenue and profitability, we are confident the long-term value creation will be significantly greater. This reflects our willingness to bet on ourselves and make disciplined choices that drive enduring success. Another example is our effort to accelerate development of a full range of new motors and controls for the defense market. Historically, an initiative of this scope would have taken years. At Alliant, we are compressing that timeline into months. To accomplish this, we are leveraging the expertise from another one of our recent acquisitions to lead the development supported by existing technology units with proven ability to scale production. Again, this is staying in action with a focus on speed, simplifying execution by concentrating resources within a highly experienced team that has delivered similar outcomes before. Using a sports analogy, we simplified the process by shortening the bench to utilize a highly experienced team that has been there and done it before. So stepping back, the first quarter was a solid start to the year. Bookings were strong, our targeted growth areas remained healthy, we made significant investments in our platform development, and the business continued to move in the right direction from a product portfolio, operational, and a financial standpoint. While the environment is still not uniform across every market, we believe the portfolio is better aligned The company is operating more efficiently, and we are positioned to keep building from here. With that, let me turn it over to Jim for an in-depth revenue of the financials.