APi Group Corporation

Good morning, ladies and gentlemen, and welcome to API Group First Quarter 2023 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 Adam Fee, Vice President of Investor Relations of API Group. Please go ahead.

Thank you. Good morning, everyone, and thank you for joining our First Quarter 2023 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 Lilley, our board co-chairs. 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 a simple fact. 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 FCC, we detail material risks that may cause our future results to differ from our expectations. Our statements are as of today, May 4th, and we undertake no obligation to update any forward-looking statements you may make accepted required by law. As a reminder, we have posted a presentation detailing our first 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 our presentation. It's now my pleasure to turn the call over to Jim.

Thanks, Adam, and welcome to API. In 2022, API became the world's leading life safety and security services provider with a global platform serving our customers in over 20 countries while delivering record financial performance. Today, we continue to be pleased with the momentum API is building and with an outstanding quarter to start 2023. We have great confidence in the business and the direction we're heading. The company delivered record first quarter results to start 2023 for net revenues and adjusted EBITDA while delivering margin-accretive double-digit organic growth across the platform. The strong financial results speak to the consistent efforts of our 27,000 leaders and to the strength of API's recurring revenue, statutorily required services business model. While successfully growing the business with an inspection-first mindset, The team has never lost sight of serving our customers safely and efficiently, and we are grateful for their commitment. As we look at our roadmap for sustainable shareholder value creation, we believe that we can achieve outsized investor returns in the years ahead by focusing on our long-term 13, 60, 80 value creation targets, which include organic revenue growth above industry average, adjusted EBITDA margin of 13%, driven by our continued focus on generating 60% of our revenue coming from inspections, service, and monitoring, adjusted free cash flow conversion of 80%, and a targeted net leverage ratio of 2 to 2.5 times. We look forward to updating you on our progress throughout the course of this year. And with that, I'll hand the call over to Russ to walk you through our performance. Russ?