AZZ Inc.

Good morning and welcome to the AZZ first quarter fiscal 2026 results conference call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Sandy Martin of Three-Part Advisors. Please go ahead.

Good morning, everyone, and thank you for joining us today to review AZV's first quarter fiscal 2026 results for the period ended May 31st, 2025. Joining the call today are Tom Ferguson, President and Chief Executive Officer, Jason Crawford, Chief Financial Officer, and David Nark, Chief Marketing, Communications, and Investor Relations Officer. After today's prepared remarks, we will open the call for questions. Please note that the live webcast for today's call can be found at www.azz.com slash investor dash events. Before we begin, I want to remind everyone that our discussion today will include forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements are uncertain and outside the company's control. Except for actual results, ACZ's comments containing forward-looking statements may involve risks and uncertainties, some of which are detailed from time to time in documents filed by ACZ with the Securities and Exchange Commission, including the latest annual report on Form 10-K. These statements are not guarantees of future performance. Therefore, undue reliance should not be placed upon them. Actual results could differ materially from these expectations. In addition, today's call will discuss non-GAAP financial measures, which should be considered supplemental to and not a substitute for GAAP financial measures. We refer our shareholders to our reconciliations from GAAP to non-GAAP measures, and those are contained in today's earnings press release. I would now like to turn the call over to Tom Ferguson.

Thank you, Sandy. First, we at AZZ send our condolences to the families affected by the flash flooding throughout Central Texas. Having grown up in Austin, I've river rafted the Guadalupe and camped along the banks often in my younger years, so I have a special place in my heart for folks affected throughout Central Texas, including friends and family. We are pleased to share our first quarter results. Today, we reported record high sales adjusted EBITDA and EPS for the quarter ended May 31st, 2025, along with industry leading adjusted EBITDA margins of 32.9% for metal coatings and 20.7% for pre-coated metals. These positive operating results were driven by infrastructure related demand and key markets for our metal coating segment, including construction, industrial and electrical transmission and distribution. Similarly, Our pre-code metal segment experienced growth in construction, our largest market sector, as well as in the aluminum container market. We did take the opportunity during the quarter to restructure metal coating surface technologies platform. We closed one powder coating facility and divested a plating facility to better position the surface technologies platform to achieve greater than 20% EBITDA margins. For pre-code metals, while sales were down slightly versus prior year due to lower volume, The team outperformed the market when compared to the National Coiters Association or NCCA. Importantly, precode shipments were up for the quarter as its customers began to draw down their inventories from precode warehouses. Dave will discuss industry trends in a moment. As we announced during the quarter, we monetized nearly all of the electrical products businesses that was held within our avail joint venture and received $273 million in cash during the quarter. As a reminder, Avail still owns and operates the WSI and lighting businesses. Jason will walk through the details of the transaction in a moment. Our consolidated adjusted EBITDA for the quarter was over $106 million, representing an adjusted EBITDA margin of 25.2%. This is supported by higher EBITDA margins over the first quarter of last year in both segments. Additionally, we are excited to report our newly commissioned aluminum coating facility in Washington, Missouri, shipped its first qualification orders during the quarter. As we ramp up sales at the new facility throughout the year, we expect operating leverage to continue to improve, and we anticipate gross margins to turn positive in the second half of the year. We continue to invest in systems that enable us to improve productivity and better support our customers with AZZ's proprietary technology, specifically our digital galvanizing system or DGS platform. which serves all of our galvanizing plants and coil zone in our pre-coat facilities. These technologies provide our customers with real-time updates and enable management to gain business intelligence, further enhancing production efficiencies across our 46 metal coatings locations and 14 coil coatings facilities throughout North America. On July 1st, we announced the acquisition of Cannon Galvanizing, located in Canton, Ohio. This acquisition is immediately accretive as it further scales our galvanizing business with predictable synergies. We will also benefit from gaining a new set of customers to serve in that market and the expansion of our spin galvanizing offerings. Our distinct competitive advantage is deeply rooted in high value, environmentally responsible solutions with nearly seven decades of technical expertise, customer center, digital platforms, and a network of strategically located facilities across North America. AZZ's longstanding deep customer relationships combined with a culture of operational excellence positioned us well to sustain growth and add to profits and significant cash flows this year and for many years to come. I am incredibly proud of our progress and the accomplishments of the entire team. In fiscal year 2014, we initiated a strategy to drive greater operational and customer service excellence, as well as to optimize the metal coatings business. The successful execution of this strategy has ultimately transformed the company through a series of strategic acquisitions and divestitures which culminated in the pure-play metal coatings company we are today. AZZ is a leader in the North American metal coatings market, and over the past 12 years, we have added over $1 billion in sales through the disciplined execution of our organic and inorganic growth initiatives and expanded our margins and doubled our EBITDA. Coming out of COVID, we shifted our strategy and embarked on transforming AZZ into a pure-play metal coatings company. A key part of our strategy included the acquisition of Preco metals in 2022. which has outperformed our expectations. We are also proud of the significant progress achieved by monetizing a large portion of our available joint venture following Fernwasseo's legacy electrical businesses to Inven. This deal is a testament to the success of our long-term strategy. I am very pleased with the strength of our team, our financial position, as well as the trajectory of our business growth initiatives. With that, I will turn it over to Jason.