L.B. Foster Company

Good day and welcome to the L.B. Foster Second Quarter 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Lisa Durante, Director of Financial Reporting and Investor Relations. Please go ahead.

Thank you, Operator. Good morning, everyone, and welcome to L.B. Foster's second quarter of 2026 earnings call. My name is Lisa Durante, the company's Director of Financial Reporting and Investor Relations. Our President and CEO, John Kasel, and our Chief Financial Officer, Sean Reilly will be presenting our second quarter operating results, market outlook and business developments this morning. We'll start the call with John providing his perspective on the company's second quarter performance. Sean will then review the company's second quarter financial results. John will provide perspective on market developments and company outlook in his closing comments. We will then open up the session for questions. Today's slide presentation, along with our earnings release and financial disclosures, We're posted on our website this morning and can be accessed on our investor relations page at lbfoster.com. Our comments this morning will follow the slides in the earnings presentation. Some statements we are making are forward-looking and represent our current view of our markets and business today. These forward-looking statements reflect our opinions only as of the date of this presentation, and we undertake no obligation to revise or publicly release the results of any revisions to these statements in light of new information except as required by securities laws. For more detailed risks, uncertainties, and assumptions relating to our forward-looking statements, please see the disclosures in our earnings release and presentation. We will also discuss non-GAAP financial metrics and encourage you to carefully read our disclosures and reconciliation tables provided within today's earnings release and presentation as you consider these metrics. So with that, let me turn the call over to John.

Thanks, Lisa, and hello, everybody. Thanks for joining us today for our second quarter earnings call. Before I commence my remarks, I want to welcome Sean Reilly, who was promoted CFO effective June 1st. Also present with us on the call is Bill Thalman, who was appointed COO on that same date. Congratulations to both Sean and Bill on your promotions. So I'll begin on slide five, covering the key drivers of our second quarter results. As you can see from the earnings release, we delivered another solid quarter with cash generation of $17.9 billion, reaching the highest second quarter level since 2017. Net debt was reduced by $13.5 million, or 24.2% during the quarter, and by $35.2 million, or 45.5% compared to last year. As a result of lower debt levels and improving profitability, our growth leverage was cut Thank you for joining us today. During the quarter, we continued a strategic shift in the UK with the announcement of exit of certain non-core product lines within our two engineering business, incurring $2.6 million of exit-related costs. Adjusted EBITDA in the second quarter was down 4.7% from last year, driven by higher personnel costs, including incentive-based compensation expense. This is due to the strong year-to-date performance with adjusted EBITDA increasing by 19.6% compared to last year. So in summary, we're pleased with the second quarter and first half of the year. Along with our current robust backlog, we remain confident about the second half of the year. I'll cover the market outlook and financial guidance for the year after Sean runs through the financial details for the quarter. Over to you, Sean.