Element Solutions Inc.

Good morning, ladies and gentlemen, and welcome to the Element Solutions fourth quarter and full year 2025 financial results conference call. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I will now turn the call over. to Veroon Gokarn, Vice President, Strategy and Interrogation. Please go ahead.

Good morning, and thank you for participating in our fourth quarter and full year 2025 earnings conference call. Joining me today are our CEO, Ben Glicklich, and our CFO, Kerry Dorman. In accordance with regulation FD, we are webcasting this conference call. A replay will be made available in the investor section of the company's website. During today's call, we will make certain forward-looking statements that reflect our current views about the company's future performance and financial results. These statements are based on assumptions and expectations of future events which are subject to risks and uncertainties. Please refer to the investor section of our website for a discussion of material risk factors that could cause actual results to differ from our expectations. Today's materials include financial information that has not been prepared in accordance with U.S. GAAP. Please refer to the earnings release and supplemental slides for definitions and reconciliations of these non-GAAP measures to comparable GAAP financial measures. It is now my pleasure to introduce our CEO, Ben Glicklich.

Thank you, Varun. Good morning, everyone. Thank you for joining. Element Solutions had another record year in 2025. We executed our model, marrying operational excellence and prudent capital allocation to deliver record results while accelerating investment in future growth. The company is benefiting from its position as a solutions partner across the electronics manufacturing supply chain and also strengthening it. Our portfolio breadth, strategic positioning, and high-value growth niches and deep technical expertise have accelerated opportunities for our businesses. We see that in the results we are reporting today and the activity levels at our customers as we enter 2026. In the past year, demand from data center and high performance computing markets drove 10% organic revenue growth in our electronics business, a trend that accelerated in the fourth quarter. Our electronic solutions and our people enable the increasing performance that our markets demand, as well as faster product iterations and significant advances in reliability and complexity. Customer engagement is as strong as ever. partially driven by our pipeline of new, exciting products. Overall, our company achieved record adjusted EBITDA and record adjusted EPS in 2025, despite continued industrial weakness and the divestiture of the graphics business in the first quarter. Our focus on operational excellence means we strongly believe that each of our businesses can improve every year, regardless of the macro environment. We demonstrated that over the past 12 months in our newly renamed specialty segment, where margins expanded 250 basis points driven by higher value selling, supply chain initiatives, cost efficiencies, and portfolio optimization. The businesses that comprise the specialty segment focus on attractive niche markets with demanding customer qualification requirements and an emphasis on value-added technical service. This creates high-margin recurring revenue streams. and we've demonstrated the ability to grow our profits in these businesses even when volumes are soft. We believe we can continue to drive profit growth through share gains and productivity improvements until industrial end markets inevitably recover. We enhanced our portfolio in 2025 through prudent capital allocation. In the first quarter of last year, we divested our slower growth, relatively lower value flexographic printing business and redeployed that capital into two value enhancing transactions, that expand our presence in attractive electronics-focused growth adjacencies. We announced the acquisitions of both Micromax and EFC gases and advanced materials in the fourth quarter and closed them both in early 2026. We believe that within the ESI family, these businesses will have the opportunity to flourish and grow faster and more efficiently. Micromax is a global leader in advanced electronics inks and pastes, as well as low-temperature ceramic materials essential for the most demanding electronics applications. The acquisition enhances our leadership position and technical bona fides in the electronics supply chain. Micromax's innovation and go-to-market capabilities align with our customer-centric approach, enabling us to deliver next-generation materials for high-growth applications such as satellites, electric vehicles, and data centers. Our initial weeks together have reinforced our excitement for the product portfolio and the untapped commercial opportunities that can be unlocked in the years ahead as part of a larger electronics materials company. EFC provides high-purity specialty gases and advanced materials that are essential for certain high-value, high-cost-of-failure applications requiring stringent purity and performance standards. The business is concentrated in fast-growing markets such as semiconductor fabrication, electrical infrastructure, and satellite propulsion. It has grown at a revenue CAGR in excess of 15% since 2009, with growth accelerating recently, primarily in semiconductor applications. EFC's focus on niche, high-value products and people centricity has yielded commercial momentum and a pipeline of customer qualifications that we anticipate will translate into robust earnings growth in the coming years. And their team is a great cultural fit with ours. The business is off to a very strong start. in 2026. Taken together, we had an outstanding year with demand improving sequentially throughout. That sets us up well for 2026. Kerry will now take you through the fourth quarter and saw your financials in more detail, Kerry.