Arcosa, Inc.

As a reminder, today's call is being recorded. I would now like to turn the call over to your host, Erin Drabek, Director of Investor Relations for ARCOSA. Ms. Drabek, you may begin.

Good morning, everyone, and thank you for joining us. Today, we will discuss ARCOSA's second quarter 2024 earnings results, as well as provide a strategic update. With me today are Antonio Carrillo, President and CEO, Gail Peck, CFO, and Reed Essel, Group President for Construction Materials. Antonio will begin with some brief comments on our second quarter results and strategic update. Gail will provide additional details on our financial results and guidance. Then Antonio will discuss the Stavola acquisition and other portfolio enhancing actions we announced yesterday before we open the call for questions. A copy of the press release issued yesterday And the slide presentation for this morning's call are posted on our investor relations website 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 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-Q, expected to be filed later today. I would now like to turn the call over to Antonio.

Thank you, Erin, and good morning, everyone. It's an exciting time for ARCOSA. Our second quarter was highlighted by several events which on a combined basis demonstrate the steady advancement of our long-term strategic vision to grow in attractive markets and to reduce the complexity and cyclicality of our business. Let's start on slide four. Yesterday, we announced strong financial results, posting record quarterly revenues and adjusted EBITDA, while expanded adjusted EBITDA margins. We also raised the low end of our 2024 full-year adjusted EBITDA range. Importantly, we ended the quarter with a healthy balance sheet. We also announced value-enhancing portfolio actions to accelerate our long-term strategy. We have entered into an agreement to acquire Stavola for $1.2 billion, the largest acquisition in ARCOSA's history. As a leading aggregate-centric and vertically integrated construction materials company, Stavola expands our geographic footprint into the nation's largest MSA with increased exposure to lower volatility, infrastructure-led end markets. We also executed a definitive agreement to divest our steel components business and completed the sale of other non-core assets for a total consideration of $137 million. Performa for the transaction as of June 30, construction products would represent 65% of our costs adjusted EBITDA on an LTM or last 12-month basis. And consolidated Performa LTM adjusted EBITDA margin would expand approximately 220 basis points. As we discuss these important announcements, you will hear three major themes today that align with our strategic vision. First, our businesses have strong momentum. Second, with the divestitures we announced, we are taking decisive actions to optimize our portfolio and enhance the quality of our earnings. And third, with a great team, strong market fundamentals, good cash flow visibility, and a solid track record, The time is right and our cost is ready to take on a transformational acquisition and temporarily increase our leverage. I will discuss the acquisition and divestitures in more detail later, but let me give you some additional color on how our businesses are performing. Turning to slide six, second quarter consolidated revenues increased 14% and adjusted EBITDA grew 31%, reflecting 230 basis points of margin expansion. On an organic basis, we generated strong double-digit adjusted EBITDA growth, led by the market recoveries underway in our cyclical businesses and operating improvements in our specialty materials and utility structures business. This was augmented by the accretive contribution from recent acquisitions, including Ameron Paul products, which we acquired in April, and several aggregate ball tons, which we completed in Florida, Texas, and Arizona last year. The integration of Ameren is progressing well, and we're pleased with the complementary fit within our existing footprint. Also of note, we delivered the first wind towers from our new plant in Belén, New Mexico, which is performing in line with expectations and should become less diluted to margin as deliveries ramp up. Our aggregates business continues to benefit from strong pricing momentum during the quarter, which together with disciplined cost control compensated for volume headwinds due to elevated rainfall, particularly in Texas. Our strong performance in the second quarter demonstrates the strength of our infrastructure-led company, which has benefited from increased scale and more resilient platforms. We're very pleased with our year-to-date results, and the underlying trends in our businesses remain very positive. As you can see, we had an extremely productive second quarter. I would like to recognize all our employees for delivering a fantastic quarter while at the same time executing on the transformative transactions. I see all the work that is behind these accomplishments and want to thank everyone for their incredible commitment to this great company. I would like to turn over the call to Gail to discuss our second quarter results in more detail. Gail?