Howmet Aerospace Inc.

Good day and welcome to the second quarter 2025 Helmet Aerospace Earnings Conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. 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 Paul Luther, Vice President Investor Relations. Please go ahead.

Thank you, Megan. Good morning and welcome to the Helmet Aerospace second quarter 2025 results conference call. I'm joined by John Plant, Executive Chairman and Chief Executive Officer, and Ken Giacobbi, Executive Vice President and Chief Financial Officer. After comments by John and Ken, we will have a question and answer session. I would like to remind you that today's discussion will contain forward-looking statements relating to future events and expectations. You can find factors that could cause the company's actual results to differ materially from these projections listed in today's presentation and earnings press release and in our most recent SEC filings. In today's presentation, references to EBITDA, operating income and EPS mean adjusted EBITDA, excluding special items, adjusted operating income, excluding special items, and adjusted EPS, excluding special items. These measures are among the non-GAAP financial measures that we've included in our discussion. Reconciliation to the most directly comparable GAAP financial measures can be found in today's press release and in the appendix in today's presentation. In addition, unless otherwise stated, all comparisons are on a -over-year basis. With that, I'd like to turn the call over to John.

Thank you, PT, and welcome, everyone. The results for the second quarter were strong. Revenue growth increased 9% -over-year compared to 6% in the first quarter. And the revenue broke through 2 billion to 2.53 billion and exceeded the high end of guidance. The revenue growth enabled us to carry out the costs of the additional headcount as we prepare for the new capacity coming on at the end of 2025, notably for turbine airfoils and the IGT buildout during 2026 and 2027. EBITDA margins were healthy at 28.7%, up 300 basis points -over-year, which was excellent given the significant sequential revenue and EBITDA growth. EBITDA was 589 million. Free cash flow was also healthy at 344 million. This cash flow enabled share repurchases of 175 million in the quarter to total 300 million in the first half, with an additional 100 million already completed in July. Additionally, debt repayment was 76 million. We also announced an increase in the common stock dividend to 12 cents per quarter starting in August. This is a 20% increase quarter over quarter, which builds on the significant increases in 2023 and 2024. Lastly, earnings per share was 91 cents, an increase of 36% -over-year. In terms of business segment commentary, forged wheels continue to do well with a .5% margin, a slight increase on the first quarter. Additionally, structure printed another solid quarter with EBITDA margins above 20%, the exact number being 21.4%. Lastly, how many incrementals were above 60% -over-year? I now pass the call to Ken to comment specifically on market sector performance and provide business segment commentary.