Arcosa, Inc.

Good morning, ladies and gentlemen, and welcome to the ARCOZA Inc. Fourth Quarter and Full Year 2021 Earnings Conference Call. My name is Katie, and I will be your conference coordinator today. As a reminder, today's call is being recorded. Now, I would like to turn the call over to your host, Erin Drabeck, Director of Investor Relations for ARCOZA. Ms. Drabeck, you may begin.

Good morning, everyone, and thank you for joining Arcosa's fourth quarter and full year 2021 earnings call. With me today are Antonio Carrillo, President and CEO, and Gail Peck, CFO. A question and answer session will follow their prepared remarks. A copy of yesterday's press release and slide presentation for this morning's call are posted on 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 GAAP. Reconciliations of non-GAAP financial measures to the closest GAAP measure are included in the appendix of the slide presentation. In addition, 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 press release we filed yesterday and our Form 10-K expected to be filed later today. I would now like to turn the call over to Antonio.

Thank you Erin. Good morning and thank you for joining ARCOSA's fourth quarter conference call. I will start with a few key messages starting on page four. ARCOSA delivered strong fourth quarter and full year 2021 revenue and adjusted EBITDA growth in our focus areas of construction products and engineer structures while managing the cyclical weakness in our wind towers and transportation business. We also generated significant operating cash flow in the fourth quarter, strengthening our balance sheet. For the full year, we reported adjusted EBITDA that matched last year's record level. Our team executed well, successfully navigating inflationary pressures, weather disruptions, and the impact of the pandemic. In 2021, we achieved significant progress in expanding our construction products platform both organically and through two natural aggregates-led acquisitions. As a result, our construction products adjusted EBITDA increased 51% in the fourth quarter and 30% for the full year. We believe we're well positioned for continued growth supported by favorable market fundamentals, a strong market position, and expected tailwinds from the increased infrastructure spending beginning later in the year. For 2022, our outlook forecasts improvement in adjusted EBITDA at the midpoint of our guidance range. We anticipate double digit increase in adjusted EBITDA for our portfolio of growth businesses. Partial of setting this, we continue to see weakness in our cyclical businesses, wind tower and transportation products. However, we are seeing early indications of improvement for these businesses. And once the recovery starts, we believe there will be pent up demand that will have to be fulfilled. At the same time, the recovery in these businesses will likely start having a positive impact in 2023. In the short term, we will be focusing on completing the integration of our recent acquisitions, prioritizing strategic investments to leverage our expanded platforms, and simplifying the portfolio to reduce the complexity of ARCOSA. Moving to slide seven, ARCOSA has made significant progress since 2018 to position the portfolio around our growth businesses, construction products, and engineer structures. As you can see on this slide, we have made a number of strategic investments to create a more resilient company and improve the long-term growth potential of our COSA. Most notably, our construction products platform now accounts for 57% of our total adjusted EBITDA, up from 33% at SPIN. At the same time, we have grown our utility structures business both organically and by adding three infrastructure-related product lines. Also contributing to the growth in engineer structures is the turnaround we perform on the storage tank business. With market-leading positions in barge, wind towers, and steel components, we are well positioned for market recovery to build on top of our growth business continuing expansion. Additionally, we believe the recently enacted $1 trillion infrastructure build creates multi-year tailwinds for many of our businesses. I will now turn over the call to Gail to discuss our overall segment performance, and then I will return to update you on the outlook for our business. Gail?