Sotera Health Company

Good morning and welcome to the Sotera Health first quarter 2026 earnings call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch tone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Vice President of Investor Relations, Jason Peterson. Jason, please go ahead.

Good morning and thank you. Welcome to Sotera Health's first quarter earnings call. Today's press release and supplemental slides are available on the investor section of our website at soterahealth.com. This webcast is being recorded and a replay also will be available on the investor section of the Sotera Health website shortly after the call. Joining me today are Chairman and Chief Executive Officer Michael Petras and Chief Financial Officer John Lyons. During today's call, some of our comments may be considered forward-looking statements. The matters addressed in these statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected or implied. Please refer to the Federal Health SEC filings in the forward-looking statement slide at the beginning of the presentation for a description of these risks and uncertainties. The company assumes no obligation to update any such forward-looking statements. Please note that during the discussion today, the company will present both GAAP and non-GAAP financial measures, including adjusted EBITDA, adjusted EBITDA margin, tax rate applicable to net income, adjusted net income, adjusted EPS, adjusted free cash flow, net debt, and net leverage ratio, as well as constant currency comparisons. A reconciliation of GAAP to non-GAAP measures for all relevant periods may be found in the schedules attached to the company's press release and in the supplemental slides to this presentation. The operator will be assisting with the Q&A portion of the call today. Please limit yourself to one question and one follow-up. For further questions, feel free to reach out to the Investor Relations team. With that, I'll now turn the call over to Cetera Health Chairman and CEO, Michael Fetros.

Good morning everyone and thank you for joining us today. This morning we announced a strong start to the year with 6.5% constant currency revenue growth and 6.9% constant currency adjusted EBITDA growth, driving over 20 basis points of margin expansion compared to the first quarter of last year. Sterigenics delivered 6.1% constant currency revenue growth in a quarter, while Norion grew constant currency revenue 25.8% and expanded margins by over 290 basis points. Nelson Labs results were in line with the expectations we outlined on our last earnings call. Today, we are reaffirming our 2026 outlook provided during our February earnings call. As a reminder, We expect total company revenue to increase to a range of $1.23 billion to $1.25 billion, representing constant currency growth of 5% to 6.5% versus 2025. And adjusted EBITDA to grow to a range of $632 million to $641 million, or 5.5% to 7% constant currency growth. As we reaffirm our full-year outlook, I want to reiterate the strength and resiliency of our business model. We provide mission-critical regulated services that are deeply embedded in our customer supply chains. More than 70% of our revenue is supported by multi-year contracts, servicing long-tenured customer relationships through a global network of facilities. Our commitment to customers is a core company value, and in 2025, we delivered substantial improvements in our customer satisfaction scores across both Sterigenics and Nelson Labs. Our business model has demonstrated its resilience over time, delivering consistent revenue growth for the past two decades across multiple economic cycles. We sit in a unique position in the healthcare supply chain and take our mission of safeguarding global health very seriously. John will get into the financial details in a moment, but first I want to take the time to highlight some events that took place during the quarter. On the governance front, in addition to adding Rich Kyle to our board of directors in February, we're excited to welcome Ken Krause, who joined our board in March. Ken's leadership and proven track record of creating shareholder value as a public company chief financial officer for over 10 years, combined with his extensive experience in strategy, finance, and governance, will be tremendous assets as we continue to grow. I'd also like to thank Dean Mijas and Robert Knauss, two of our private equity board members, for their service and contributions to Cetera Health. Dean recently completed his board service, and Rob will transition off the board later this month. Both have provided valuable perspective and guidance, and we sincerely appreciate their impact over the years. In March, the private equity shareholders completed another secondary sale of existing shares, bringing our public float to approximately 90% of outstanding shares. Lastly, I want to briefly comment on some positive legal developments in Georgia. As a reminder, eight bellwether personal injury cases were selected into Phase I and Phase II causation proceedings where the court focused on the science. On March 30, 2026, the Georgia State Court dismissed the remaining five bellwether cases as the plaintiffs could not prove general causation in the Phase I proceedings. As a reminder, the court dismissed the other three bellwether cases in October of last year in the phase two specific causation proceedings. All eight bellwether cases have now been dismissed and are subject to appeal. Although the March 30th order applies directly to the five phase one pool cases, the court's rejection of plaintiff's general causation theories is a critical issue common to all of the personal injury cases. We believe this order underscores the lack of reliable scientific support for those remaining claims and should inform how the remaining cases are evaluated. We will continue to put sound science at the center of our defense as we stand behind the safety and importance of stereogenics operations. As a reminder, developments related to EO can be found on our investor website. Now, John will take us through the financials in more detail.