The Shyft Group, Inc.

Good morning and welcome to the Shift Group first quarter 2025 conference call and webcast. All participants will be in a listen-only mode until the question and answer session of the conference call. As a reminder, this call is being recorded. I would now like to introduce Randy Wilson, Vice President of Investor Relations and Treasury for the Shift Group. Please go ahead.

Good morning and thank you for joining us. Today, you will hear from John Dunn, President and Chief Executive Officer, and Scott Ohalik, Interim Chief Financial Officer. Their prepared remarks will be followed by a question and answer session. Before we begin, please turn to slide two and three of the presentation for our Safe Harbor Statement. Today's conference call contains forward-looking statements which are subject to risks that can cause actual results to be materially different from those expressed or implied. Primary risks that management believes can materially affect our results are identified in our Forms 10-K and 10-Q filed with the SEC. We will be discussing non-GAAP information and performance measures, which we believe are useful in evaluating the company's operating performance. Reconciliations for these non-GAAP measures can be found in the conference call materials. We'll begin with a business overview from John, followed by Scott's review of first quarter financial results in our 2025 outlook. John will then provide an update on our proposed merger with Abby Schmidt. We'll then open the line for Q&A. Please turn the slide forward, and I'll turn it over to John who will begin today's prepared remarks.

Thank you, Randy, and good morning. Welcome to our Q1 2025 earnings call. We appreciate your interest in the SHIFT Group and this opportunity to share our progress and outlook with you today. We had a strong start to the year. delivering improved financial performance while continuing to execute our strategy and growth initiatives. We delivered meaningful adjusted EBITDA growth for the company with margins of 6%, which doubled year over year. I would like to personally thank SHIFT's team members for these results, which exceeded expectations. We are very excited to update you on Blue Arc, where we have completed a majority of our first contract for FedEx in the quarter, and feedback has been positive with trucks actively deployed on the road. We are working to secure several opportunities for Blue Arc trucks across end markets and geographies. Blue Arc is an important part of our product portfolio as customers continue to adopt EVs. Fleet vehicles and services expanded margins of 290 basis points year over year by improving operational efficiency. The FES team's dedication to quality, product innovation, and customer centricity positions us well to gain market share as demand increases. We have seen increased walk-in van quoting activity which is consistent with our expectations for recovery in the second half of the year. Specialty vehicles continued to perform well with another solid quarter that resulted in high team's margin. Service truck order intake in the quarter was robust, and the sales team is aggressively pursuing new leads to solidify our leading industry position. At the recent NTEA Work Truck Show, our service truck portfolio displayed the full range of offerings and capabilities across our leading brands. Our sales team demonstrated our bodybuilding capabilities from Duramax and Royal to our upfit capabilities with ITU highlighting our position as a vertically integrated partner capable of meeting diverse and evolving industry needs. We are excited about our future growth opportunities with the service truck business as we continue to expand our portfolio of offerings. Finally, we continue to maintain a solid balance sheet with a net leverage ratio less than two times, allowing us the flexibility to invest in strategic initiatives that support our growth and drive long-term success. Overall, We remain confident in our team's ability to execute in these dynamic times, deliver for our customers, and achieve our financial targets. Turning to slide five, our operating framework is designed to drive sustainable financial growth and deliver long-term shareholder value. A key element to that framework is our customer-centric approach, innovating with purpose to solve real-world challenges and help our customers succeed. That approach has brought to life at NTA Work Truck Week, where we saw increased customer engagement, unveiled new product innovations, and marked a major milestone, the 50th anniversary of the Shift Group. Since 1975, we have evolved alongside our customers, delivering purpose-built solutions that perform in the most demanding environments, and reinforcing the trust that drives our business forward. Our booth saw record engagement and we received strong customer feedback. At the show, we unveiled two new purpose-built vehicles shaped by our work-driven design approach, developed in close partnership with fleet operators. The Utilamaster Trademaster, ServiceBody, a reimagined version of a trusted platform which delivers enhanced durability, smart storage, and integrated safety features. Designed to enhance productivity in the field, it offers reinforced construction for long-term strength, spacious cargo areas, and easily accessible exterior compartments for efficient tool and equipment storage. A wide rear door improves material handling, while integrated lighting supports visibility across varied working conditions. Production is scheduled to begin later this year with multiple configurations tailored to meet the needs of today's diversified fleet operations. The marketplace dry freight truck, a brand new addition to our lineup, was engineered to maximize payload capacity. It weighs 900 pounds less than comparable models, improving efficiency without sacrificing durability or functionality. Features include a seamless roll-up rear door for streamlined loading and unloading, an optimized cargo layout, and a heavy-duty liftgate designed for last-mile and logistics applications. It is a strong offering for both ice and electrified fleets. Both products reinforce our commitment to customer led innovation, ensuring our solutions are designed to solve real world challenges across service and delivery applications. These launches, combined with the momentum we saw at NTEA, highlight how we are executing our strategy, strengthening customer relationships, expanding our portfolio, and reinforcing our position in the market. We are building on 50 years of engineering excellence with a clear focus on where our customers are headed and we are delivering the solutions to help them get there. With that, I'll turn it over to Scott for a detailed review of our financial results and 2025 outlook.