Westrock Coffee Company

Hello, and welcome to West Rock Coffee Company's fourth quarter 2025 earnings conference call. My name is Lisa. I'll be coordinating your call today. Following prepared remarks, we will open the call to your questions with instructions to be given at that time. I'll now turn the call over to Joanne Arnold with West Rock Coffee.

Thank you and welcome to Westrock Coffee Company's fourth quarter 2025 earnings conference call. Today's call is being recorded. With us are Mr. Scott Ford, co-founder and chief executive officer, and Mr. Chris Pledger, chief financial officer. By now, everyone should have access to the company's fourth quarter earnings release issued earlier today. This information is available on the investor relations section of Westrock Coffee Company's website at investors.westrockcoffee.com. Certain comments made on this call include forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs concerning future events and are subject to several risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. Please refer to today's press release and other filings with the SEC for a more detailed discussion of the risk factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today. Also, discussions during the call will use some non-GAAP financial measures as we describe business performance. The SEC filings, as well as the earnings press release, provide reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures. And with that, it's my pleasure to turn the call over to Scott Board, our co-founder and chief executive officer.

Thank you, Juwan. Good afternoon, everyone. Thanks for joining us. We are pleased to announce today that we produced record-breaking fourth quarter and full year 25 results, driven by continued new customer volume additions, successful scale-up of our integrated platform, and disciplined cost and operational execution across every part of our business. These results reflect the strength of our customer-centered broad portfolio model and the tremendous value our strategic investments are now delivering. On a regular SEC basis with no construction activity add-backs, our 2025 consolidated adjusted EBITDA was $69.7 million, up 48% year-over-year. This performance sets up another strong year of EBITDA expansion in 26, where we estimate our EBITDA will be up another 30 to 45% this year. Dropping down one additional layer, and importantly, we also outperformed our estimated deleveraging goals. In spite of 25 being the final CapEx year on the build-out of the two new plants we built in Conway, Arkansas, At year-end 25, our beverage solutions secured net leverage ratio stood at only 3.9 times, a meaningful beat to our 4.5 times target. The fact that we have now switched from construction mode into regular daily operations, which simply require maintenance CapEx, is a pivotal moment in our company's history as we are scheduled to become fully free cash flow positive after all CapEx and debt service in 2026. Strategically, we remain firmly on track toward our goal of becoming the premier integrated strategic supplier for the preeminent coffee, tea, energy, and now high-protein beverage brands globally. To this end, we have two important updates to share with you today. First, we are pleased to announce that we have completed the product development and commercialization processes for our first high-protein beverage, for a leading CPG brand. We currently expect production to begin this fall. And secondly, that with the recently completed water and tank farm upgrades, we are now fully capable of making not only milk-based RTD coffee and tea beverages and extracts, but all of the traditional canned energy drinks as well. And by this fall, we expect to be in production with carbonated water, seltzer, and soda who are seeking a partner with the scaled product development, commercialization, production, finished packaging formats, and distribution partners that our facilities afford. The story of 2025 is our successful transition from plant construction to full-scale operations. We are now focused squarely on driving growth through expanded customer volumes while delivering disciplined expense management and operational efficiencies that accelerate EBITDA expansion. The strong volume growth across both our beverage solutions and SS&T segments, combined with cost controls across our core business units, derived from process, data intelligence, and risk mitigation insights via our ongoing relationship with Palantir, were once again the primary drivers of this quarter's and the full year earnings beat. I continue to believe that this now three-year relationship is an underappreciated component of our operational, risk management, and financial success. Our combined West and Palantir systems team is some 10 times more effective in multiple ways of measuring than we were just three years ago, while also being 30% to 40% smaller than when we began. You may recall that last quarter we noted an uncertainty around one large single-serve customer that was involved in an M&A transaction. That activity is now completely behind us. The customer moved out entirely during the fourth quarter of 25. We have numerous customers in our pipeline that should fully refill that single-serve capacity by 2027, but this transaction is the source of our 26 guidance being up only 30% to 45% when we originally expected it to be up closer to 100%. We tip our hat to a worthy competitor. Finally, we remain convinced that by becoming the lead innovation and development partner, dependable and sustainable sourcing resource, and low-cost processing and packaging outsourcer for the world's leading beverage brand, we enable them to capitalize on their brand equity positions in step with the movements of their consumers. Our record full-year results demonstrate growth brought about from our continued incremental delivery against this goal, and our expansion into the full lineup of energy and carbonated drinks made possible by the final upgrades to our new Conway facility enables us to continue to pursue this strategy with vigor in the years to come. With that, I'm now going to turn the call over to Chris Pledger, our CFO, who will explain all of these developments in greater detail. Chris?