Helios Technologies, Inc.

Greetings and welcome to the Helios Technologies fourth quarter 2023 financial results. 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 Almond, Vice President of Investor Relations and Corporate Communications. Thank you. You may begin.

Thank you, Operator, and good day, everyone. Welcome to the Helios Technologies Fourth Quarter 2023 Financial Results Conference Call. We issued a press release announcing our results 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 Sean Bagan, our Chief Financial Officer. They will review our fourth quarter results along with our outlook for 2024. We will then 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 those presented today. These risks and uncertainties and other factors will be provided in our upcoming 10-K to be 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 gap with non-gap measures in the tables that accompany today's slides. Please reference slides three through six now. With that, it's my pleasure to turn the call over to Joseph.

Tanya, thank you, and welcome, everyone. We delivered as recently committed for the fourth quarter. 2023 is now in our rearview mirror. As many of you know, we started this journey to transform our business into an integrated operating company several years ago. As I reflect on 2023, it was a year of solid progress along with several macroeconomic challenges and geopolitical events. We kept our focus through it all and emerged as a more united and determined team. We continued to advance our strategy by remaining centered on three key elements. First, one of our major priorities were the investments we have constantly made in our manufacturing strategy. We expect they will drive operational excellence and position Helios for the growth opportunities we see before us. We invested in our centers of excellence by consolidating workflows and expanding capacity to address new business and broaden capabilities. As part of these activities, we relocated various operations and functions. The outcomes will increase efficiencies, provide the backup capability needed to further manage risk, as well as expand low-cost regional manufacturing in India and Mexico. Our two North American hydraulic center of excellence were fully operational starting in the fourth quarter, and we just opened our new electronics facility in Tijuana. We are finishing up the process to expand our capacity in Italy. We have faster just reached record sales levels for the full year 2023. All these investments were critical for our future, even as it somewhat impacted on our financial results for the year. We believe over the long term, this strategy will maximize shareholder value. Second, we executed on our strategy to fill product and solution gaps, diversify revenues, and to build out our talent pool with acquisitions. With the addition of Schultes and i3 to add to our string of flywheels, we have assembled a collection of premium capabilities to make us incredibly tough to follow. Third, we continue our efforts to further diversify our markets and deepen our reach into existing ones. Even in the face of significant macro headwinds, We've made the necessary investments in innovation and product development. We are solving customers' most difficult design and production problems increasingly with integrated system solutions. We are well positioned to serve these opportunities, which we expect can be significant growth contributors and will help define our future. Our transformation is nearly complete at this point. Now it's all about execution as we continue to elevate into a global integrated operating company. Realizing the market challenges we face in the second half of the year, we took necessary actions to help protect the business. Lower volume clearly had the largest impact on our margins. We recognize the decision to continue to invest in the business and the minor disruption from standing up the center of excellence also contributed. John will talk more about the results as well as our financial priorities and our outlook for 2024. John, I will turn it over to you now, please.