Arcosa, Inc.

Good morning, ladies and gentlemen, and welcome to the Arcosa, Inc. First Quarter 2021 Earnings Conference Call. My name is Mallory, and I will be your conference call coordinator. As a reminder, today's call is being recorded. Now, I would like to turn the call over to your host, Gail Peck, SVP, Finance and Treasurer for Arcosa. Ms. Peck, you may begin.

Good morning, everyone. Thank you for joining our first quarter 2021 earnings call. With me today are Antonio Carrillo, President and CEO, and Scott Beasley, CFO. A question and answer session will follow their prepared remarks. A copy of yesterday's press release and the slide presentation for this morning's call are posted at our Investor Relations website, www.ir.arcosa.com. A replay of today's call will be available for the next two weeks. Instructions for accessing the replay number are included in the press release. A replay of the webcast will be available for one year on our website under the News and Events tab. Today's comments and presentation slides contain financial measures that have not been prepared in accordance with generally accepted accounting principles. Reconciliations of non-GAAP financial measures to the closest GAAP measure are included in the appendix of the slide presentation. Let me also remind you that today's conference call contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Please refer to the company's SEC filings for more information on these risks and uncertainties, including the earnings press release we filed yesterday and our Form 10-Q expected to be filed later today. I would now like to turn the call over to Antonio.

Thank you, Gail. Good morning and thank you for joining us to discuss our closest first quarter results and our updated outlook for 2021 following the recently completed acquisition of Stone Point Materials. Our first quarter financial performance exceeded our expectations despite continued challenges related to COVID-19 and the impact from winter storm Uri in February. These results speak to the strength and resilience of our portfolio of core infrastructure products and to the strategic investments we've made to reduce inequality, drive growth, and enhance margins. Turning to slide four, let me discuss a few key takeaways. Our results were better than expected during the quarter driven by strong construction products performance. In particular, the construction businesses benefited from strong demand and construction activity. Within engineer structures, our order activity for the utility, traffic, and telecom structures business held strong throughout the quarter. The fundamental drivers for these businesses remain very healthy given the investment in grid hardening, increased demand coming from renewable expansions, and the wireless buildup. The transportation segment continues to be impacted by the rail cycle and high steel prices. However, we believe the rail cycle is reaching its lowest point and will start recovering. And, once steel price has normalized, significant pent-up demand for barges will convert to new orders. In the meantime, we're taking steps to maintain manufacturing flexibility and, at the same time, we're focusing on managing our costs. In April, we completed the previously announced acquisition of StonePoint Materials, a top 25 U.S. platform that advances the repositioning of our COSA. StonePoint is a premier asset that accelerates the growth and scale of our construction materials platform, adding market-leading positions in attractive new geographies, more than 40 years of reserves, and an experienced team. Our short-term focus will be integrating StonePoint and building on this platform. Still, we continue to seek out higher margin and higher growth opportunities to further expand our portfolio. To that end, we're pleased to have a robust pipeline and will continue to apply a rigorous analysis to every new project, organic and inorganic, and to evaluate whether that particular investment meets our strict requirements for long-term strategic value and return potential. Our businesses must compete for capital to ensure that we invest in those opportunities with the highest long-term potential. Also, as I will discuss later, we published our first full-year sustainability report underscoring our commitment to ESG. Turning to slide seven, there is an overview of our results for the quarter. While revenue was down 10% year-to-year, this was consistent with our expectations. Adjusted EBITDA of 56.5 million was ahead of our forecast even after a 4 to 5 million negative impact from winter storm Yuri. The storm increased our natural gas costs significantly and shut down many of our facilities for over a week. On the positive side, our construction segment performed better than expected during the quarter and helped us compensate for the effects of the storm. I will now turn over the call to Scott to discuss segment performance, and then I will return to update you on the outlook for the business. Scott?