TriMas Corporation

Greetings, and welcome to the TriMass Corporation's second quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Sherry Ladderback, Vice President, Investor Relations. Thank you. You may begin.

Thank you, and welcome to TriMet Corporation's second quarter 2025 earnings call. Participating on the call today are Thomas Snyder, TriMet's new president and CEO, and Theresa Finley, our chief financial officer. We will provide our prepared remarks on our second quarter results and full year outlook, and then we will open the call up for your questions. In order to assist with the review of our results, we have included today's press release and presentation on our company website at Trimouse.com under the Investor section. In addition, a replay of this call will be available later today by calling 877-660-6853 with a meeting ID of 13754837. Before we get started, I would like to remind everyone that our comments today may contain forward-looking statements that are inherently subject to a number of risks and uncertainties. Please refer to our most recent Form 10-K and 10-Q to be filed later today for a list of factors that could cause our results to differ from those anticipated in any forward-looking statements. Also, we undertake no obligation to publicly update or revise any forward-looking statements, except as required by law. We would also direct your attention to our website, where considerably more information may be found. In addition, we would like to refer you to the appendix in our press release or presentation for the reconciliations between GAAP and non-GAAP financial measures used during this call. Today, the discussion on the call regarding our financial results will be on an adjusted basis, excluding the impact of special items. With that, I am pleased to introduce Thomas Snyder, our new Chief Executive Officer, who joined Trimouse just over a month ago. Tom brings with him nearly 35 years of experience in the packaging industry, including a distinguished track record of leadership at Silgan. Most recently, he served as president of Silgan Containers, where he led a business generating nearly $3 billion in annual sales. Under his leadership, the company achieved significant growth in sales, earnings, and cash flow. We're thrilled to welcome Tom to the TriMass team. In just a short time, he's already been actively engaging across the organization and laying the groundwork for the next chapter of growth. I'm confident you'll appreciate his insights. At this point, I'll turn the call over to Tom. Tom?

Thank you, Sherry. Good morning, everyone, and thank you for joining us today. As I join you for my first earnings call as CEO, I want to begin by expressing how truly excited and honored I am to lead this company. TriMass has a strong foundation, a proud history, and a commitment to continuous improvement. And I'm energized by the opportunity to help shape its next chapter. So stepping into this role over a month ago, I've made it a priority to listen, learn, and engage deeply with all employees at all levels across the organization. Over the past 30 plus days, I've had the opportunity to immerse myself in the business, And I'd like to take a few moments to share some of my early impressions and the key areas I've been focused on. Let's begin on slide four. First, let me walk you through what I've been focused on since stepping into this role. I've made it a priority to get out into the field and see our operations up close. Over the past month, I visited 10 of our manufacturing sites across the United States and Europe, including several packaging and aerospace facilities here in the US, as well as packaging sites in the UK, the Netherlands, and Italy. These plants gave me an invaluable insight into our day-to-day operations, the strength of our local teams, and the pride that our employees take in delivering high-quality products. I was impressed by the flexibility and diverse capabilities of our facilities, as well as the deep technical expertise embedded in our processes and with our people. I've also spent significant time with our business leadership teams, engaging in strategic discussions around what's driving our success today, and what we need to do to build upon that success to accelerate our plans to stay ahead of potential market changes. These conversations have been candid, insightful, and energizing, and they've helped me quickly get up to speed on the unique strengths and opportunities across each of our businesses. In parallel, I've reviewed our current business plans and financial outlook. Working closely with our senior leaders, we've begun the early discussions of identifying both near-term actions and longer term initiatives that can enhance our performance, whether through operational improvements, cost efficiencies, or growth through internal or external investments. From these early engagements, a few key observations stand out. First, we have an incredibly talented, dedicated, and focused teams across the organization. Whether on the shop floor, in engineering, or within our commercial and support functions, I've seen a strong sense of ownership, engagement, and pride in the work being done. Second, our products and processes are often innovative and proprietary, driven by strong engineering capabilities and a culture of continuous improvement. Third, our manufacturing facilities have tremendous flexibility with capabilities well positioned for future growth. And finally, we benefit from longstanding strategic relationships with market-leading customers who value our ability to deliver quality and reliability. We listen to our customers and develop key account plans to drive high performance results. Looking ahead, my focus will be on building upon these strengths while driving further alignment and execution across the enterprise. Although early in my tenure, I do see a few opportunities for improvement. Specifically, I plan to prioritize driving greater standardization across our global footprint in our processes, systems, and operating practices. This will allow us to scale more efficiently, reduce complexity, and ensure we're leveraging the best practices across those locations. It's about creating a more agile and integrated enterprise that can respond even faster and operate smarter. Next, I believe there's an opportunity to focus on the seamless integration of some of our recent acquisitions. These businesses bring valuable capabilities and customer relationships and we're committed to unlocking their full potential. By aligning them with our systems and priorities, I believe we can accelerate synergies, expand our market reach, and drive additional profitable growth. And finally, we continue to invest in automation and tools to enhance productivity, provide critical business data, and increase responsiveness. These investments will help us reduce costs, improve consistency, and free up our teams to focus on higher value activities. In short, I see tremendous opportunity ahead for growth and margin expansion. I am committed to working with the teams to identify opportunities and implement actions to drive improved performance. Shifting gears, I'd like to turn your attention to slide five and take a moment to highlight our strong second quarter performance. We delivered solid results across the board with year-over-year sales growth in all three of our groups. packaging, aerospace, and Norris Cylinder. We also achieved notable margin improvement led by our aerospace group. This margin expansion contributed meaningfully to our growth in operating income and earnings per share, both of which came in ahead of expectations. So thank you to the TriMAS team for making my first earnings call an easier one. The strong results this quarter are a direct reflection of your hard work and focus. With that, I'll turn it over to Theresa to walk through our financial and segment results for the quarter. Theresa?