Enpro Inc.

Greetings and welcome to the NPRO second quarter of 2026 earnings call. At this time, all participants are in a listen-only mode. A 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. I'd now like to turn the call over to your host, Mr. James Gentile, Vice President, Investor Relations. Thank you. You may begin.

Thanks, Melissa, and good morning, everyone. Thank you for joining us today as we review NPRO's second quarter 2026 earnings results and discuss our increased outlook for 2026. I will remind you that this conference call is being webcast at NPRO.com, where you can find the presentation that accompanies this call. With me today is Eric Vaillancourt, our President and Chief Executive Officer, and Joe Bruderek, Executive Vice President and Chief Financial Officer. During this morning's call we will reference a number of non-GAAP financial measures. Tables reconciling the historical non-GAAP measures to the comparable GAAP measures are included in the appendix to the presentation materials. Also a friendly reminder that we will be making statements on this call including our current perspectives for full year 2026 guidance that are not historical facts and that are considered forward-looking in nature. These statements involve a number of risks and uncertainties, including those described in our filings with the SEC. We do not undertake any obligation to update these forward-looking statements. It is now my pleasure to turn the call over to Eric Vaillancourt, our President and Chief Executive Officer.

Eric? Thanks, James, and good morning, everyone. Thank you for your interest in NPRO as we discuss our strong second quarter results. provide an update on strategic initiatives and share our current views for the balance of 2026. Before I review our results, I would like to recognize our colleagues across the company who are accelerating their personal and professional growth in ENFRO 3.0. The individual growth aspect of ENFRO 3.0 is not a side program. It is half of the strategy itself. Earlier this year, our colleagues set bold goals that range from deepening subject matter expertise to expanding leadership capabilities, achieving personal health, fitness, or academic gains. Through accountability, hard work, encouragement, and feedback, our colleagues are achieving meaningful growth. In recent years, the energy spreading throughout the organization around empowerment with purpose is motivating. It shows in our financial results as well as the personal performance of our colleagues. I'm grateful for their hard work and dedication to their communities and loved ones. 10Pro is built around highly engineered products and solutions that play a vital role in customers' mission-critical platforms across a number of key end markets supported by long-term tailwinds. Our products are integral components found in leading-edge applications such as advanced semiconductor production, customized biopharmaceutical processes, space exploration and satellite communications, and sensing and instrumentation of critical gas and liquid paths. We also provide a variety of safety and contamination control capabilities that support the commercial transportation of goods across North America. as well as enduring specification physicians in a number of critical industrial process applications. We win with our strong technical capabilities, engineering, process knowledge and specialized small batch manufacturing footprint. We partner with our customers to develop innovative solutions and to continue to invest in new products and expand our technical capabilities as well as pursuing targeted capacity expansions and Efficiency Projects across the company that will drive strong organic growth, profitability and compelling returns over the long term. We are pleased with our strong first half results and improved outlook for the rest of the year as our products continue to help our customers solve critical problems and operate safely, reliably and efficiently. Now onto the highlights for the second quarter. Enpro reported strong second quarter sales up 17.6% year over year. Strong demand across semiconductor markets drove sales in the advanced surface technology segment up 21.8%. Sealing technologies grew 15.3% overall and 5% organically. Total company adjusted EBITDA increased more than 22% to 86.9 million at a margin of 25.6% for the second quarter. In ceiling technologies, revenue growth of over 15% was largely driven by contributions from the acquisitions of alpha measurement solutions and overlook industries, as well as solid organic growth, including double-digit growth in general industrial markets domestically and strong performance in aerospace markets. Commercial vehicle markets remain soft in the second quarter, although we are seeing early signs of stabilization and improvement. We are pleased with how our commercial vehicle business is positioned ahead of the eventual recovery in trailer demand. We also saw softness in Europe in our smaller general industrial and food and biopharmaceutical positions during the quarter. Sealing technology segment profitability remained strong at 33.2% with positive volume growth, pricing discipline, and excellent execution. Aftermarket sales remained at 60% of the ceiling segment revenue in the quarter. In AST, order patterns strengthened as semiconductor industry expectations rose during the second quarter. Various market forecasts and indications from our customers suggest an acceleration of capital spending to support the need for more chip production as artificial intelligence, advanced computing, and communications infrastructure take a quantum leap. Currently, customer build plans and lead times extend healthy visibility through 2027 for our semiconductor facing products and solutions. Demand is accelerating for precision cleaning solutions in all regions, prompting incremental investment and capacity. Demand is also very healthy for highly engineered critical and chamber tools and our optical coatings capabilities. We remain focused on delivering for our customers by maintaining flexibility in our capacity with innovation, supply chain management, recruitment, inventory and process controls. Our ongoing processing qualification work, 80-20 efforts focusing resources on our best opportunities, together with completed and ongoing investments in people and capacity to support growth opportunities and new platforms, position the AST segment to perform well as demand continues to improve in coming periods. Before I pass the call over to Joe for a more detailed review of our results, I would like to provide updates on the integrations of ALPHA and Overlook, which are going very well. We are pleased with the process analytics and compositional analysis capabilities that Alpha and AMI bring to ENFRO. We are investing in new product development, technology, and applications expansion in these exciting areas to drive above top line growth over the long term. With Overlook, we are delighted with how their fluid path technology or liquid dose biologics complement and pro single use biopharmaceutical capabilities. We continue to support Overlook's growth with additional capital and access to our supply chain, safety, human resources, and best-in-class financial management capabilities. In both cases, we aim to provide our newer colleagues with a safe and healthy working environment and opportunities for professional development and growth while sharing best practices across the company. Our strong, specified aftermarket positions in ceiling technologies provide ample resources and talent to reinvest in key growth areas of the segment to drive mid-single-digit organic growth over the long term, complemented by strategic acquisitions that can lift the segment's growth rate over time. We remain focused on advancing the growth priorities underpinning the NPRO 3.0 strategy, which will guide our performance for 2030. Over the long term, we are positioned to generate mid to high single-digit organic top-line growth with strong profitability and returns complemented by capability-expanding acquisitions in key growth areas of our portfolio that meet our stringent strategic and financial criteria. During the EnPro 3.0 horizon, we are targeting mid-single-digit organic growth in ceiling technologies, while at AST, we are targeting high single-digit to low double-digit organic growth with both segments capable of generating 30% adjusted EBITDA margins plus or minus 250 basis points through 2030. Our cash flows allow us to maintain our strong balance sheet with a net leverage ratio currently at 1.6 times after taking into account the fourth quarter 2025 acquisitions of Alpha and Overlook and an $80 million reduction in revolving debt so far this year. Joe?