Freightcar America, Inc.

second quarter 2025 earnings conference call. At this time all participants are in a listen-only mode. For those of you participating on the conference call there will be an opportunity for you to ask questions at the end of today's prepared comments. Please note this conference is being recorded. An audio replay of the conference will be available on the company's website within a few hours after this call. I would now like to turn the call over to Chris Ode with Riverton investor relations. Over to you Chris.

Thank you and welcome. Joining me today are Nick Randall, president and chief executive officer, Mike Creardon, chief financial officer and Matton, chief commercial officer. I'd like to remind everyone that statements made during this conference call related to the company's expected future performance, future business prospects, or future events or plans may include forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Participants are directed to fray car America's form 10k for description of certain business risks some of which may be outside of the control of the company that may cause actual results to materially differ from those expressed in the forward-looking statements. We expressly disclaim any duty to provide updates to our forward-looking statements whether as a result of new information, future events or otherwise. During today's call there will also be a discussion of some items that do not conform to US generally accepted accounting principles or gap. Reconciliation of these non-gap measures to their most directly comparable gap measures are included in the earnings release issued yesterday afternoon. Our earnings released for the second quarter 2025 is posted on the company's website at fraycaramerica.com along with our 8k which was filed pre-market this morning. With that let me now turn the call over to Nick for a few opening remarks.

Thank you Chris. Good morning everyone and thank you all for joining us today. I am proud to share another quarter of strong performance of freight car America marked by execution and resilience as we expanded our margins through operational efficiency and delivered solid profitability. This quarter also marks our fifth consecutive quarter of positive operating cash flow generation finishing Q2 with over 61 million cash on 61 million dollars of cash on hand. While we have maintained strong commercial momentum with orders adding 300 units to our healthy backlog for the year despite a challenging industry backdrop. Gross margins for the quarter expanded to 15% on 939 deliveries up from .5% on 1159 deliveries a year ago. Adjusted EBITDA margins increased 20 basis points compared to the prior year and we generated adjusted free cash flow of 7.9 million dollars. While revenues and deliveries were lower year over year we have continued to utilize our lanes blinds effectively and deliver increased profitability as these strong results demonstrate the effectiveness of our manufacturing strategy and the operational commitments of our team. On the commercial side our broad product portfolio and value-added solutions continue to prove themselves as competitive differentiators. We secured 1226 new orders in the quarter largely driven by rebuilds and conversions. These orders increased our backlog to 3624 units up approximately 300 units from the prior quarter. Though the dollar value of the backlog remained stable reflecting a higher proportion of rebuild and conversion work. Importantly rebuilds and conversions continue to deliver excellent value for our customers in these market conditions. This type of work exemplifies the strength of our flexible manufacturing model enabling us to adjust quickly to customer needs while maintaining healthy profitability. Operationally we continue to run all four production lines throughout the quarter improving productivity and supporting high throughput even at a lower volume of deliveries. This operational flexibility which has been a hallmark of our approach remains a key advantage allowing us to meet evolving demand and keep lead times competitive. Turning to the broader industry the replacement cycle has moderated and industry forecasts for new railcar deliveries have been revised downward for 2025. However we remain well positioned thanks to the diversity of our business model and our agile manufacturing presence. We continue to see strong order momentum and inquiries in our pipeline are reaffirming our outlook for the remainder of the year. Our nimble vertically integrated model enables us to take market share and respond faster than our peers. These dynamics will position us to benefit meaningfully when new build activity picks back up. We also continue to invest in the business to strengthen our foundation for future growth. This quarter we announced a capital investment in our tank car retrofit program as we accelerate our capability expansion and vertical integration of key components within the manufacturing process to provide our customers with the product quality and reliability they demand. We expect this initiative to continue to enhance our margin profile and create long-term value as the tank car program ramps up over the next several years. In short we are executing well delivering on our commitments and continuing to strengthen the foundation of our business. I am proud of what we have accomplished this quarter and I'm excited about the opportunities ahead. With that I'll turn it over to Matt to walk through our commercial operations in more detail. Thank you