Mirion Technologies, Inc.

Greetings and welcome to the Merion Technologies second quarter 2023 earnings 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, Alice Gaddy, Vice President of Investor Relations. Please proceed.

Good afternoon, everyone, and thank you for joining Merion's second quarter 2023 earnings call. Reminder that comments made during this presentation will include forward-looking statements, and actual results may differ materially from those projected in the forward-looking statements. The factors that could cause actual results to differ are discussed in our annual report on Form 10-K and quarterly reports on Form 10-Q that we file from time to time with the SEC under the caption risk factors and in myriad other filings with the SEC. Quarterly references within today's discussion are related to the second quarter ended June 30th, 2023. The comments made during this call will also include certain financial measures that were not prepared in accordance with generally accepted accounting principles. Reconciliation of those non-GAAP measures to the most directly comparable GAAP financial measures can be found in the appendix of this presentation accompanying the call today. All earnings materials can be found on Merion's IR website at ir.merion.com. Joining me on the call today are Larry Kingsley, Chairman of the Board, Tom Logan, Chief Executive Officer, and Brian Schoffer, Chief Financial Officer. Now, I will turn it over to our Chairman of the Board, Larry Kingsley. Larry?

Thanks, Alex, and good afternoon, everyone. Thank you all for joining our quarterly earnings call and for your continued support for Merion. This morning we published solid Q2 results that we believe position us well for the remainder of 2023. We continue to see consistent backlog growth, which is the most encouraging forward looking indicator for the rest of the year and entering 2024. Our second quarter was highlighted by better than expected top line performance from both operating segments. This reflects a continuation of the trends we've reported on over the last couple of quarters. and we expect this to bolster momentum heading into the second half. Margin performance was within our expectations for the quarter as we began gaining greater price-cost traction and moving beyond the supply chain disruptions. Additionally, we anticipate the unfavorable geographic and product mix impacts to ease in the third and fourth quarters. Cash flow and net working capital efficiency are not yet achieving targeted performance expectations. but I'm deeply familiar with the plan, and I have confidence in the team and the approach. They'll get into more detail later in the call, but the focus remains on improving inventory turnover, increasing collection velocity, and other material flow and transaction efficiency improvements. The company's robust backlog, improving execution, and favorable vertical market dynamics bolster our confidence, speaking on behalf of the full board We have confidence that management is executing well against the appropriate set of priorities for the business. Lastly, it's worth noting that as of mid-July, the prior private equity controlling sponsor has fully exited their position in Merion. With that, we have removed another overhang on the stock. So I'll now pass the call over to our CEO, Tom Logan. Tom?