APi Group Corporation

Good morning, ladies and gentlemen, and welcome to API Group's second quarter 2022 financial results conference call. All participants are now in a listen-only mode until the question and answer session. Please note this call is being recorded. I will be standing by should you need any assistance. I will now turn the call over to Olivia Walton, Vice President of Investor Relations at API Group. Please go ahead.

Thank you. Good morning, everyone, and thank you for joining our second quarter 2022 earnings conference call. Joining me on the call today are Russ Becker, our president and CEO, Kevin Crum, our executive vice president and chief financial officer, and Sir Martin Franklin and Jim Lilly. Before we begin, I would like to remind you that certain statements in the company's earnings press release announcement and on this call are forward-looking statements which are based on expectations, intentions, and projections regarding the company's future performance, anticipated events or trends, and other matters that are not historical facts. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In our press release and filings with the SEC, we detail material risks that may cause our future results to differ from our expectations. Our statements are as of today, August 4th, and we have no obligation to update any forward-looking statement we may make. As a reminder, we have posted a presentation detailing our second quarter financial performance on the investor relations page of our website. Our comments today will also include non-GAAP financial measures and other key operating metrics. The reconciliation of and other information regarding these items can be found in our press release and in our presentation. It is now my pleasure to turn the call over to Martin.

Thank you, Olivia. Good morning, everyone. API delivered another strong quarter of results, including record net revenues, adjusted EBITDA, and adjusted diluted earnings per share in a volatile macro environment. Russ and Kevin will speak to the performance of the business in more detail, but I would add that in our view, API's continued execution against its goals to fight challenges faced in uncertain macro environments to the strength of the company's recurring revenue, services-focused business model, and the discipline of the organization and its leadership team. With the enormous amount of opportunities in front of us, the efforts of each and every leader across our organization is contributing to the achievement of both short-term and long-term goals. I'd like to recognize their extraordinary efforts in being integral to raising the bar of performance across the entire company. As you can see from the company's significant organic progression, including growth in organic net revenues of 14% year-to-date for the legacy API business, as well as Chubb delivering top-line growth, and the go-to-market strategies are working. Margins are rising, and the proportion of the business in mandatorily required safety services continues to grow towards our raised goal of 60% plus of revenue coming from inspection, service, and monitoring. API is a great company with great leaders in a great sector. I do not believe the public markets have remotely acknowledged this yet, but we are in the long game and know that over time this will change. We believe API has a clear path to make the most of the opportunities in front of the company, and we're excited about what lies ahead for the business as we continue to focus on shareholder value creation. With that, I'll hand over to Russ.