Allison Transmission Holdings, Inc.

Good afternoon. Thank you for standing by. Welcome to Allison Transmission's second quarter 2025 earnings conference call. My name is Paul, and I will be your conference call operator today. At this time, all participants are in a listen-only mode. After prepared remarks, Allison Transmission executives will conduct a question and answer session, and conference call participants will be given instructions at that time. As a reminder, this conference call is being recorded. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference call over to Jackie Bowles, Executive Director of Treasury and Investor Relations. Please go ahead, Jackie.

Thank you, Paul. Good afternoon, and thank you for joining us for our second quarter 2025 earnings conference call. With me this afternoon are Dave Graziosi, our Chair and Chief Executive Officer, Fred Bowley, our Chief Operating Officer, and Scott Mell, our Chief Financial Officer and Treasurer. As a reminder, this conference call, webcast, and this afternoon's presentation are available on the Investor Relations section of allisontransmission.com. A replay of this call will be available through August 18th. As noted on slide two of the presentation, many of our remarks today contain forward-looking statements based on current expectations. These forward-looking statements are subject to known and unknown risk including those set forth in our second quarter 2025 earnings press release and our annual report on Form 10-K for the year ended December 31st, 2024. Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those that we expressed today. In addition, as noted on slide three of the presentation, some of our remarks today contain non-GAAP financial measures as defined by the SEC. you can find reconciliations of the non-GAAP financial measures to the most comparable GAAP measures attached as an appendix to the presentation and to our second quarter 2025 earnings press release. Today's call is set to end at 5.45 p.m. Eastern time. In order to maximize participation opportunities on the call, we'll take just one question from each analyst. Please turn to slide four of the presentation for the call agenda. During today's call, Dave Graziosi and Fred Boley will review recent announcements across our business, including the recently announced acquisition of Dana Incorporated's off-highway business. Scott Mell will then review our second quarter 2025 financial performance and full year 2025 guidance prior to commencing Q&A. Now, I'll turn the call over to Dave.

Thank you, Jackie. Good afternoon, and thank you for joining us. Starting with recent non-acquisition related news during the quarter, we were pleased to announce that the Allison 3000 series is now available in the CNG powered Mack Granite truck. Following the successful launch in 2023 of our 4500 series in the same vehicle, this expanded powertrain option gives customers more flexibility to optimize their trucks, specifically for lighter duty waste applications. As mentioned on previous calls, Allison fully automatic transmissions are fuel agnostic, leveraging our torque converter to ensure peak performance and fuel efficiency, pairing well with different fuel types, including diesel, compressed, natural gas, and other alternatives. Unlike manuals and automated manual transmissions, our automatics maintain seamless full power shifts, enabling vehicles to travel farther in less time. This allows fleets to achieve sustainability goals without sacrificing productivity. We are proud to partner with MAC on this initiative, highlighting Allison's ability to deliver optimized performance and capability in demanding vocations indifferent to the fuel source for the powertrain. Also during the quarter, we announced that the Maryland Department of Transportation selected buses equipped with the Allison eGen Flex hybrid propulsion system to operate in metropolitan Baltimore region. Allison remains committed to collaborating with transit agencies nationwide, supporting them in their emission reduction goals by providing innovative solutions to achieve their sustainability goals. Over the last few years, we have made numerous announcements of transit properties across the United States, selecting the Allison eGen Flex as the propulsion solution of choice for their city buses. We are excited to add Maryland to the growing list. Finally, within our defense end market, we were excited to announce that Allison has secured a new order for 3040MX cross-drive transmissions for Poland's PORSUK infantry fighting vehicle program. This order follows the memorandum of understanding announced in 2023 between Allison and PGC, one of the largest defense companies in Europe, for the cooperation on tracked vehicle programs and the expansion of our authorized service network in Poland. Our new 3040MX brings Allison's proven durability, reliability, performance, and innovation to the medium-track vehicle segment. The 3040MX offers several key improvements that enhance its overall performance, including advanced electronic controls with integrated diagnostics, making it a significant step forward in defense vehicle propulsion. Also in our defense end market, Allison was recently awarded a multimillion-dollar contract by the United States Army through their Ground Vehicle Systems Center for the second phase of the Next Generation Electrified Transmission, or NGET, program. We also refer to this product as the EGEN Force. Following our announcement in 2022, highlighting the award of funding for phase one of the NCHF program, we are excited to continue our partnership with the Ground Vehicle Systems Center on this vital project. Phase two, which will focus on enhancing the e-machine and inverter system, will bring us one step closer to delivering propulsion systems that not only meet but exceed the performance and efficiency needs of modern armored combat vehicles. With the EGEN force, Allison anticipates meeting requirements across a wide spectrum of applications, including the U.S. Army's optionally manned fighting vehicle, or OMFV, and main battle tank markets around the world. As a reminder, the OMFV program is expected to replace nearly 3,000 aging legacy Bradley vehicles, making it the U.S. Army's largest armored vehicle procurement since the 1980s. The Allison EGEN Force has been selected by American Ryan Mittal for integration into its OMFV offering. Currently in the development and prototype phase, the OMFV program is expected to progress into 2026 with U.S. government testing of vehicles and start of production in 2029. With our expanded portfolio, and authorized service network, Allison is well-positioned to continue growth in the defense and market. We look forward to further announcements and awards with realization of our over $100 million incremental annual revenue objective this year and future growth opportunities, including products such as the eGen Force. I will now turn the call over to Fred for a recap of our strategic priorities and growth opportunities related to our recently announced acquisition of Dana's off-highway business.