CIRCOR International, Inc.

Greetings and welcome to CIRCOR International's second quarter 2021 earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I will now turn the conference over to Alex Mackey, Vice President, Financial Planning and Analysis and Investor Relations. Thank you, sir. You may begin.

Good morning, and welcome to SIRCOR's second quarter 2021 earnings call. I'm joined today by Scott Buckout, SIRCOR's President and CEO, and Abhi Kondiwal, the company's Chief Financial Officer. Before we start, I'd like to remind you that today's presentation and press release are available on CIRCOR's website at investors.circor.com. Today's discussion contains forward-looking statements and only represent the company's views as of today. These expectations are subject to known and unknown risks, uncertainties, and other factors, and actual results could differ materially from those anticipated or implied by today's remarks. While SIRCOR may choose to update these forward-looking statements at a later date, the company specifically disclaims any duty to do so. You can find a full discussion of these factors in SIRCOR's Form 10-K, 10-Qs, and other SEC filings also located on our website. On today's call, management will refer to GAAP and non-GAAP financial measures. The reconciliation of SIRCOR's non-GAAP measures to the comparable GAAP measures are available in our earnings press release and slides. With that, I'll turn the call over to Scott.

Thanks, Alex, and good morning, everyone. SERCOR delivered another solid quarter, and we're entering the back half of the year with high confidence that we'll achieve our 2021 guidance. Our Q2 performance was highlighted by 27% organic orders growth in our industrial business, as both short and long cycle demand remains strong. We saw continued recovery across virtually all industrial regions and end markets with orders exceeding pre-COVID levels. Book-to-bill in industrial was 1.2, consistent with the first quarter. Despite some headwinds from inflation and COVID-related supplier issues, we delivered revenue and earnings in line with guidance. Our free cash flow conversion was 115%, a sign that our efforts to improve working capital are taking hold. Based on our strong orders performance in the first half, our $436 million backlog, and all the work we've done to streamline our operations, we're well positioned for a very strong second half. And finally, we made significant progress on our strategic priorities. I'll talk more about this later, but I'm excited about the momentum the team is building, especially around growth and margin expansion. Now, let me turn the call over to Abhi.