ITT Inc.

please press Start followed by 2. If you should require operator assistance, it is Start followed by 0. We ask that you please pick up your handset to allow optimal sound quality. It is now my pleasure to turn the floor over to Mark Macaluso, Vice President of Investor Relations. You may now begin.

Thank you, Candice, and good morning. Joining me here this morning are Luca Savi, ITV's Chief Executive Officer and President, and Emmanuel Capre, Chief Financial Officer. Today's call will cover ITD's financial results for the three and 12-month periods ending December 31st, 2022, which we announced this morning. Before we begin, please refer to slide two of today's presentation, where we note that today's comments will include forward-looking statements that are based on our current expectations. Actual results may differ materially due to a number of risks and uncertainties, including those described in our 2021 Annual Report on Form 10-K and other recent SEC filings. Except for otherwise noted, the fourth quarter and full year results we present this morning will be compared to the fourth quarter and full year 2021 and include non-GAAP financial measures. The reconciliation of such measures to the most comparable GAAP figures are detailed in our press release and in the appendix of our presentation, both of which are available on our website. This morning, we will begin with an overview of the results and our outlook for the year. Emmanuel will then review the fourth quarter results before we close the book on 2022. Luca will discuss some key commercial achievements and our 2023 guidance, and we'll have plenty of time for your questions at the end. Please note there is additional information on the quarter and full year results, as well as planning assumptions for 2023 in the supplemental data to our presentation, which I encourage you to review. With that, it's now my pleasure to turn the call over to Luca, who will begin on slide number four.

Thank you, Mark, and good morning. Before we discuss ITT's results, I would like to start by thanking our shareholders for their investment in ITT, our customers who we always keep at the center of everything we do, and our employees for their ongoing commitment to ITT. This quarter, more than ever, I was humbled by the efforts and resilience of all our ITTers. First, in Wuxi, China, our employees delivered the highest production quota ever despite COVID infection rates of more than 75% in December. Our China team's performance was the highlight of the quarter. Next, across all our factories, we navigated supply chain disruptions and ensured on-time delivery to our customers. And in Europe, our teams worked through the energy crisis, the impacts of the war in Ukraine, and unabating inflation. I am grateful for the resilience you demonstrated this quarter and throughout 2022. It was your efforts that drove the record performance we're presenting today, including 12% organic orders growth following 13% growth in Q3, over 17% organic revenue growth in all businesses delivering double-digit growth, a record segment margin of 18.6%, 22% EPS growth after 21% in Q3, and over $130 million of free cash flow, up 58% versus prior year. In many regards, ITT's fourth quarter was another step up in performance. Now to the details. Our seventh consecutive quarter of double-digit organic orders growth resulted in an ending backlog of more than $1.1 billion, up 22% versus prior year. Higher volumes and price recovery drove the strong organic revenue growth led by industrial process at 27%. This year, we drove over $170 million of price recovery with MT at the forefront. Execution momentum in IP continued across projects, baseline pumps, and aftermarket, resulting in 27% organic revenue growth in Q4. CCT grew sales by 16%, boosted by share gains in connectors and strong demand for aerospace components. And in MT, the outperformance continues in every region. For the full year, we surpassed global automotive market growth by roughly 400 basis points. Our price recovery, volume growth, and productivity led to a record segment margin in Q4, overcoming cost inflation impacts of roughly $50 million for all of ITT, a truly remarkable accomplishment indeed. And on cash, after a tough few quarters, We generated strong free cash flow with 17% free cash flow margin in the quarter, by far the best performance of the year. The common thread that underpainted these achievements was our people and their commitment to deliver for our customers. I was fortunate to experience this in Saudi Arabia, where Khaled and the local IP team performed flawlessly and achieved 100% success on-time performance for our customers in 2022. In the flow industry, this is a differentiator. And given this performance, we are investing in new testing capabilities to grow our presence in the region. This has already helped us win more than $20 million in incremental project orders. Or like in South Korea, which has become our new center of excellence for vertical pumps. Also here, we continue to invest in more technology, engineering resources, and lean. Speaking of lean, we're working now on our next transformation of the plant layout in Seneca Falls to optimize material flows and efficiency. We're already realizing the benefits of IP's lean efforts with more than 40% incremental margin in Q4 and for the full year. This relentless focus on excellence, continuous improvement, and commitment to quality enabled us to deliver on our original revenue and adjusted earnings per share guidance in 2022, despite numerous unanticipated macro headwinds. On capital deployment, we deployed more than $600 million in 2022, or three and a half times our adjusted free cash flow. CapEx, increased 18% to support the growth of electrified vehicles and productivity. On M&A, Habanin was a strategic acquisition and a great deal. It expanded IP's DevOps business by more than 50% and was accretive to ITT's earnings. And with its strong performance, our effective purchase multiple is now 8 to 9 times and dropping versus approximately 12 times at the date of acquisition. This morning, we announced a dividend increase of 10% after increases of 30% and 20% in 2021 and 2022, respectively. And we repurchased over $250 million of ITT shares, lowering our share count by 3%. Finally, on our 2026 long-term targets, we are making significant progress. A few highlights. Our relentless focus on safety drove reductions in both injury frequency and severity rates, leading to a 32% decline in the number of incidents in 2022 to a much improved incident frequency rate of 0.55. On sustainability, we are reducing our greenhouse gas emissions, increasing revenues from green products, and advancing our diversity, equity, and inclusion efforts. And our financial performance, organic revenue, and adjusted EPS growth in 2022 were in line with our long-term growth target. We are proud of what we accomplished in 2022, but never satisfied. And that is why we're encouraged by the opportunities we see in 2023. With that, let me turn the call over to Emmanuel to discuss our fourth quarter and full year results.