Steelcase Inc.

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Thank you, Rob. Good morning, everyone. Thank you for joining us for the recap of our second quarter fiscal 2026 financial results. Here with me today are Sarah Armbruster, our President and Chief Executive Officer, and Dave Sylvester, our Senior Vice President and Chief Financial Officer. Our second quarter earnings release, which crossed the wires yesterday, is accessible on our website. This conference call is being webcast, and this webcast is a copyrighted production of Steelcase, Inc. A replay of this webcast will be posted to ir.steelcase.com later today. Our discussion today may include references to non-GAAP financial measures and forward-looking statements. Reconciliations to the most comparable gap measures and details regarding the risks associated with the use of forward-looking statements are included in our earnings release, and we are incorporating by reference into this conference call the text of our safe harbor statement included in the release. Following our prepared remarks, we will respond to questions from investors and analysts. As related to the pending merger approval with H&I, we will not be taking questions today, and we refer you to the publicly available filings. I will now turn the call over to our President and Chief Executive Officer, Sarah Onbruster.

Thanks, Mike, and hi, everyone, and thanks for joining today's call. I'll begin with an overview of our performance in the quarter. In the second quarter, we delivered strong financial results that built on our recent momentum. Our revenue and adjusted earnings grew over the prior year and exceeded our expectations, and they marked our highest quarterly results over the past five years. Overall, we increased revenue by 5%, led by strong growth from our large corporate customers in the Americas. Our international segment posted 13% revenue growth, including 8% on an organic basis, with especially strong results from India. Our adjusted earnings improvement was supported by the revenue growth in addition to strong cost controls. Turning to profitability, our America segment delivered an adjusted operating margin of 11%, and in our international segment, our adjusted operating results improved by $5 million compared to the prior year. The improvement in the international segment was driven in part by the cost reduction actions we've been implementing over the past couple of years. Our revenue growth was supported by strong orders, which grew by 6% in the second quarter, including 8% growth in the Americas. which was driven by continued growth from our large corporate customers. Orders from our global client collaboration customers posted year-over-year growth for the third consecutive quarter. As we've mentioned before, our customers are recognizing the need to transform their spaces to support new ways of working as their employees more fully return to the office. In our international segment, strong order growth in India and some of our other markets was offset by declines in Germany and France, which continued to be impacted by macroeconomic challenges. In those markets, we're focusing on winning as much available business as possible, and at the same time, we're aligning resources to focus on the best opportunities. In the Americas, our win rates continue to remain strong, which we believe is evidence that we continue to lead the transformation of the workplace. We saw strong growth this quarter from both the financial services sector and from large technology customers. Companies across these leading industries are investing in their offices as they seek to bring their teams together in new spaces that support higher levels of connection, creativity, and performance. and Steelcase is well positioned to capitalize on this ongoing trend. Our proposed transaction with H&I is expected to further our strategy of expanding our reach within markets. We believe that combining with H&I brings together the industry's best brands to more customers, and that's one of the many reasons we're excited to pursue the transaction. We are confident that the combination will be a win for all of our stakeholders. We're working with H&I to complete this transaction, which is expected to occur by the end of calendar year 2025. I want to thank our Steelcase team for their incredible hard work and commitment as we continue to execute during this transition period. It is because of the team's talent, their dedication, and passion that makes Steelcase the industry leader that we are today and why we were an attractive choice for H&I. We look forward to the closing with H&I and to realizing the significant benefits that our combined company is expected to bring to our shareholders, customers, dealers, and employees. And now I'll turn it over to Dave.