JELD-WEN Holding, Inc.

Marks, there will be a question and answer session. To ask a question, simply press star, then the number one on your telephone keypad. To withdraw your question, press star one again. I would now like to turn the conference over to James Armstrong, Vice President of Investment Relations. Please go ahead.

Thank you, and good morning. We issued our first quarter 2024 earnings release last night and posted a slide presentation to the investor relations portion of our website, which can be found at investors.jeldwin.com. We will be referencing this presentation during our call. Today, I am joined by Bill Christensen, Chief Executive Officer, and Julie Albrecht, Chief Financial Officer. Before I turn it over to Bill, I'd like to remind everyone that during this call, we will make certain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties, including those set forth in our earnings release and provided in our forms 10-K and 10-Q filed with the SEC. GELDWIN does not undertake any duty to update forward-looking statements, including the guidance we are providing with respect to certain expectations for future results. Additionally, during today's call, we will discuss non-GAAP measures which we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of these non-GAAP measures to their most directly comparable financial measures calculated under GAAP can be found in our earnings release and in the appendix to our earnings presentation. With that, I would like to now turn the call over to Bill. Thank you, James.

And thank you, everyone, for joining our call today. I'm pleased with the progress we're making on our transformation journey, and we continue to focus on strengthening Jeldwen's foundation. While there are various near-term market challenges, we remain confident that we can deliver improved future performance. Let me start by first thanking all of our associates for their continued commitment as we work together to meet our customers' expectations while also taking important actions to bolster our financial performance. Additionally, I want to thank the new senior leaders that recently joined our team. Within their first 100 days, they've rolled up their sleeves to learn the business, visit our facilities, and quickly add value to our transformation journey. I know they will help us achieve the short- and long-term goals we have for Gelbwin. Today, I will initially share a brief overview of first quarter results and discuss some of the actions we've completed. I'll then hand it over to Julie to discuss our financial results in more detail before returning to discuss future actions in our transformation journey, provide our updated 2024 financial guidance, and then take your questions. I'll begin with our first quarter highlights on slide four. Despite the continued challenging market environment, first quarter sales and EBITDA were in line with our expectations as the positive impact from our ongoing productivity actions helped mitigate the anticipated headwinds from soft demand in both North America and Europe. In early April, as part of our ongoing activities to streamline and simplify our manufacturing footprint, we announced the closure of two North America windows facilities. While these were difficult decisions, it's critical that we continue taking the actions needed to improve GELDWIN's financial results. I'll talk more about one of these decisions in a few minutes. Turning to slide five, we continue to make solid progress on our transformation journey, including actions to fix our foundation. Focusing on our people, during the first quarter, we took important steps to strengthen our culture. In January, we gathered 130 of our top leaders from around the globe to align our vision and goals for the year. We also discussed how we will work together to execute on our transformation actions, including both cost reductions and top-line growth initiatives. We also began training more than 1,600 senior leaders about the skills and behaviors we expect, along with giving them the tools to succeed in building a values-based organization. Shifting to performance. During the first quarter, we maintained our focus on improving cost efficiency. As I just mentioned, we recently announced our decision to shut two facilities, our Vista California composite windows facility and our Hawkins, Wisconsin wood windows facility. These closures are part of our plan to simplify and streamline the business with a focus on quality of sales and asset utilization. Together, the closure of these two facilities is expected to deliver at least 11 million of annual EBITDA savings. I'm also pleased that we are increasing our CapEx spending to enable and deliver on operational improvements. In the first quarter, our capex increased approximately 10 million year over year with much of this additional capital funding projects that are part of our transformation journey. Examples include projects that help us use materials more efficiently and increase automation and production processes, all resulting in driving costs out of our business while also improving quality. We continue to be in the early innings of our transformation journey. However, we are pleased with the progress. I am proud of our team for their continued hard work and dedication in making Gelduin a stronger and more profitable company that we all know it can be. I'll now turn it over to Julie to discuss the financial results.