MUELLER WATER PRODUCTS

Thank you for standing by and welcome to the third quarter 2022 Investor Relations Conference call. At this time, all participants are in a listen-only mode into the question and answer session. At that time, if you'd like to ask a question, please press star then one. As a reminder, today's call is being recorded. If you have any objections, you may disconnect at this time. I'd like to turn today's meeting over to your host, VP of Investor Relations, Mr. Whit Kincaid. Thank you. You may begin.

Good morning, everyone. Thank you for joining us on Mueller Water Products' third quarter 2022 conference call. We issued our press release reporting results of operations for the quarter ended June 3, 2022, yesterday afternoon. A copy of the press release is available on our website, MuellerWaterProducts.com. Scott Hall, our President and CEO, and Marty Zakis, our CFO, will be discussing our third quarter results and our current outlook for 2022. This morning's call is being recorded and webcast live on the internet. We have also posted slides on our website to accompany today's discussion and to address forward-looking statements and our non-GAAP disclosure requirements. As a reminder, we have changed our management structure and segment reporting effective October 1st, 2021. We filed an 8 in January that provided the recap of historical quarterly results for 2020 and 2021. At this time, please refer to slide two. This slide identifies non-GAAP financial measures referenced in our press release, on our slides, and on this call. It discloses the reasons why we believe that these measures provide useful information to investors. Reconciliations between non-GAAP and GAAP financial measures are included in the supplemental information within our press release and on our website. Slide three addresses forward-looking statements made on this call. This slide includes cautionary information identifying important factors that could cause actual results that differ materially from those included in forward-looking statements. Please review Slides 2 and 3 in their entirety. During this call, all references to a specific year or quarter, unless specified otherwise, refer to our fiscal year, which ends on the 30th of September. A replay of this morning's call will be available for 30 days at 1-800-834-7000. The archived webcast and corresponding slides will be available for at least 90 days on the Investor Relations section of our website. I'll now turn the call over to Scott. Thanks, Whit.

Good morning, everyone. Thank you for joining us for our third quarter earnings call. This quarter we delivered record net sales with both water management solutions and water flow solutions contributing to the growth in the quarter. We generated double-digit net sales growth in iron gate valves, specialty valves, and repair and installation products. Order levels remained healthy again this quarter, driven by end-market activity, and we ended the quarter with a record backlog. As expected, the growth in the quarter came primarily from the continued improvement in price realization across most of our product lines. We are benefiting from the multiple price actions taken over the past year and we're pleased with the sequential increase in the third quarter. While the improved price realization led to a sequential improvement in our adjusted EBITDA conversion margin, our third quarter margin was below the expectations discussed on our last earnings call. We faced many of the same operational headwinds we experienced in our second quarter, including ongoing supply chain disruptions, inflationary pressures, and manufacturing performance. Our teams are focused on improving production levels and operational performance as we manage healthy demand and record backlog. We expect continued benefits from improved price realization in the fourth quarter, and we'll continue to execute initiatives to manage the operational headwinds, which I will discuss later in the call. I'll now turn the call over to Marty to review our third quarter financial results.