Helios Technologies, Inc.

Greetings, and welcome to the Helios Technologies first quarter 2022 financial results 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. It is now my pleasure to introduce your host, Tanya Allman, Vice President, Investor Relations, Corporate Communications, and Risk Management for Helios Technologies. Thank you. You may begin.

Thank you, Operator, and good day, everyone. Welcome to the Helios Technologies First Quarter 2022 Financial Results Conference Call. We issued a press release yesterday afternoon. If you do not have that release, it is available on our website at hlio.com. You will also find slides there that will accompany our conversation today. On the line with me are Joseph Matasevic, our President and Chief Executive Officer, and Tricia Fulton, our Chief Financial Officer. They will spend the next several minutes reviewing our first quarter results, discussing our progress with our accelerated growth goals, affirming our outlook for 2022, and then we will open the call to your questions. If you turn to slide two, you will find our safe harbor statement. As you may be aware, we will make some forward-looking statements during this presentation and the Q&A session. These statements apply to future events that are subject to risks and uncertainties, as well as other factors that could cause actual results to differ materially from where we are today. These risks and uncertainties and other factors were provided in our 10-K filed with the Securities and Exchange Commission. You can find these documents on our website or at sec.gov. I'll also point out that during today's call, we will discuss some non-GAAP financial measures, which we believe are useful in evaluating our performance. You should not consider the presentation of this additional information in isolation or as a substitute for results prepared in accordance with GAAP. We have provided reconciliations of comparable GAAP with non-GAAP measures in the tables that accompany today's slides. And with that, it's now my pleasure to turn the call over to Joseph.

Thank you, Tania, and good day, everyone. Our team had another exceptional quarter as we are sticking to our game plan by executing on our strategy to drive accelerated growth. We are achieving this through innovation and the deployment of the Helios business system to keep us centered and focused on what we can control. Even while we continue to live with the backdrop of some of the most unusual times in recent world history. If you would please turn to slide three, I will review the quarterly highlights. We started 2022 off strong. In fact, on a run rate basis, we are well on our way of meeting our goal to reach at least one billion in revenue by 2023. We have been successful executing our manufacturing and our operations strategy to deliver outperformance, which led to our higher than anticipated $241 million in revenue in the first quarter. Our innovative higher value solutions are proving to be sticky with our customers and are building the loyalty. This is how our brand is growing and how Helios is winning in our markets. Additionally, our responsiveness to our customers and our ability to deliver top tier industry lead times helps us beat the competition and we continue to take market share. What is very apparent in our results is the strong operating leverage inherent in our business model, along with the benefits we are starting to achieve as we shift to a more integrated operating company. As we successfully grow our top line, we are expanding our bottom line at a greater rate. I am convinced it is the commitment of our world-class team executing against our business system that is driving our earnings power. We are focused on continuous improvement and operational excellence while proactively managing our supply chain and inventory to ensure we keep delivering for our customers. I believe it is important for our investors to understand not only how well positioned we are to capitalize on strong economic conditions, but also our ability to weather macroeconomic challenges. These attributes include the strength of our balance sheet, our ability to quickly deliver, diversity of our revenue sources and geographies, our innovative culture that is part of our DNA, our leading market positions across our portfolios, our pure play focus within the hydraulics and electronics industries, our world-class people. Without them, nothing else matters. We believe all these qualities create not only the buffers that protect us when times get tough, but also create the opportunities to help us further accelerate our operating model. Importantly, we have delivered on our promises for eight sequential quarters and are on track to achieve the milestone that we have accelerated by two years of reaching at least one billion in revenue by 2023. I want to thank all of our global colleagues for the dedication and hard work in achieving these amazing results. Now I would like to provide some highlights on our most recent acquisition announcement Please turn to slide four. TAMI is an ideal demonstration of our bolt-down flywheel acquisition strategy. They bring differentiated technologies that expand our hydraulic segment offerings. In fact, because the products are so complementary to ours, they have been partnering with our FASTA business to sell their products since October of 2020. We already had an established working relationship with their team, and it makes sense to bring them into the Helios family to further accelerate our combined efforts. They manufacture rotating products that enable connections within the hydraulic system to eliminate leakage. The combination of our cartridge belts, quick release couplings, and swivels create industry leading solutions that are not only very high value and cost effective for our customers, but also have safety and environmental benefits as well. We believe the potential of this bolt-on is significant and it further strengthens Helios in the hydraulics market as the leading pure play provider of highly engineered solutions to both OEMs and our distribution partners. As we continue to target system sales across our segments over time, this type of technology enhancement only further extends our differentiation to be the most trusted strategic partner for our customers. Let me now turn the call over to Tricia to review the financial results and discuss our affirmed outlook in more detail before I come back for some closing remarks. Tricia, please.