RB Global, Inc.

At this time, I am pleased to welcome you all to the RB Global second quarter 2025 earnings conference call. As a reminder, all lines have been placed in a listen-only mode, but later you will have the opportunity to ask questions during our question and answer session. Today's session is also being recorded. And now to get us started with opening remarks and introductions, I am pleased to turn the floor over to Vice President of Investor Relations, Mr. Samir Rathod. Please go ahead, sir.

Hello and good afternoon. Thank you for joining us today to discuss our second quarter results. Jim Kessler, our Chief Executive Officer, and Eric Guerin, our Chief Financial Officer, are with me on the call today. The following discussion will include forward-looking statements, including projections of future earnings, business, and market trends. These statements should be considered in conjunction with the cautionary statements contained in our earnings release and periodic FCC reports. On this call, we will also discuss certain non-GAAP financial measures. For the identification of non-GAAP financial measures and the most directly comparable GAAP financial measures and the applicable reconciliation of the two, see our earnings release and periodic SEC reports. At this time, I would like to turn the call over to our CEO, Jim Kessler. Jim?

Thanks, Samir, and good afternoon to everyone joining the call. I want to begin by recognizing the exceptional execution and dedication of our teammates We remain the foundation of our ability to consistently over-deliver on our commitments and position us for long-term growth. As always, our approach remains unchanged as we stay focused on the factors within our control. Our discipline execution was evident again in the quarter, with adjusted EBITDA increasing 7% on a 2% increase in gross transactional value. Starting with our automotive sector, the momentum continued as we outpaced the market for another quarter, achieving solid gains in market share. Unit volume increased by 9% year over year. With this increase in volume, I am especially proud to say that our teammates continue to perform at an exceptional level, consistently over-delivering against all of our service level agreements. On the demand side, our active buyer base continues to grow, reflecting the strength of our platform. Internationally, we are particularly pleased to welcome two new alliance partners, which extends our global footprint and enhances buyer diversity. We also continue to refine and optimize our multi-channel auction format to drive premium price performance. These efforts are translated into tangible results. We continue to deliver strong gross returns or salvage values as a percentage of pre-accident cash value, with U.S. insurance average selling prices increasing approximately 1% year over year. As we enter the peak season for CAD events, speed and coordination remain mission critical for our partners. We prepare year-round for these events through detailed simulations and cross-functional alignment across real estate, operations, logistics, and merchandising. This ensures we can respond seamlessly when the time comes. Our dedicated CAC capacity continues to grow, and we have built in additional agility and flexibility through our partnership with NASCAR and our ability to leverage Ritchie Brothers Yards as needed. Last year, we demonstrated our unique ability to leverage the full strength of RB Global in managing the volume surge we experience, and our teammates stand ready to respond again this year. All of this directly translates into superior execution, enabling us to consistently over-deliver in our commitments to our partners. We have a proven and scalable model for responding to CAD events, which provides a sustainable competitive advantage. We are also excited to announce a new joint venture in the UK with LKQ Corporation. a global leader in alternative and specialty parts. As a result, our Synetic Automotive Parts in this Maryland business will be jointly operated with LKQ and rebranded as LKQ Synetic. RB Global will retain 100% of the salvaged auction part of the business, which has been rebranded and will operate as IAA. This is a win-win, where both organizations will bring their respective areas of expertise to the joint venture. Our regional partners are excited about the vision and value we bring to the industry. The joint venture will streamline the distribution of green parts into the repair network and elevate the customer experience. Moving to the commercial construction and transportation sector, I am pleased to share that we have successfully closed the acquisition of JM Wood. This transaction represents a strategic enhancement of a footprint in Alabama and the broader Southeast United States. We are proud to welcome a high-performance team with deep regional expertise to our organization. They have built their business much like ours by cultivating long-standing relationships founded on trust and exceptional service. By combining their strong brand, customer focus, and regional presence with our global reach, digital platform, and value-added services, We are well positioned to deliver even greater value to our customers and drive continued growth. While customers and partners in our commercial construction and transportation and markets continue to navigate macroeconomic uncertainty, we remain focused on factors within our control. We continue to invest in driving sustainable growth and enhancing operational efficiency. This includes ongoing optimization of our territory manager network and deployment of targeted productivity initiatives across the organization. Our disciplined approach is designed to position us as the partner of choice, ensuring we remain top of mind when customers are ready to engage and transact. Before I hand the call over to Eric to review our financial performance and outlook, I would like to thank our incredible team worldwide for their hard work discipline, and perseverance. You power our momentum. We have the right strategy, the right people, and the right foundation in place, and I'm excited about the opportunities ahead as we continue to deliver long-term value for our customers, partners, and shareholders. Eric.