Spectrum Brands Holdings, Inc.

and thank you for standing by. Welcome to the first quarter 2026 Spectrum Brands Holdings, Inc. earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised today's conference is being recorded. I would now like to hand the conference over to your speaker today, Jen Schultz, DVP, FP&A, and Investor Relations. Please go ahead.

Welcome to Spectrum Brands Holdings Q1 2026 Earnings Conference Call and Webcast. I'm Jen Schultz, Division Vice President of FP&A and Investor Relations, and I will moderate today's call. To help you follow our comments, we have placed a slide presentation on the event calendar page in the Investor Relations section of our website at www.spectrumbrands.com. This document will remain there following our call. Starting with slide two of the presentation, our call will be led by David Marra, our Chairman and Chief Executive Officer, and Faisal Kutter, our Chief Financial Officer. After opening remarks, we will conduct the Q&A. Turning to slides three and four. Our comments today include forward-looking statements, including statements about tariffs, which are based upon management's current expectations, projections, and assumptions, and are by nature uncertain Actual results may differ materially. Due to that risk, Spectrum Brands encourages you to review the risk factors and cautionary statements outlined in our press release dated February 5, 2026, our most recent SEC filings, and Spectrum Brands Holdings' most recent annual report on Form 10-K and quarterly reports on Form 10-Q. We assume no obligation to update any forward-looking statements. Also, please note that we will discuss certain non-GAAP financial measures in this call. Reconciliations on a GAAP basis for these measures are included in today's press release and slide presentation, which are both available on our website in the investor relations section. Now, I'll turn the call over to David Mora. David?

Good morning. Thank you, Jen. Good morning, everybody. We'd like to welcome you this morning to our first quarter earnings update for fiscal 2026. And again, thank you for joining us today. I'll start the call today with an update on the operating environment and its impact on our company, on Spectrum Brands. I'll then talk about our operating performance, and then I'll talk about our strategic initiatives. Fessel will then provide a lot more color and detailed financial and operational updates, including discussions on the specific business unit results. If I can now have everybody turn to slide six, Our financial results for the first quarter demonstrate that our strategy is working. Fiscal 25 was a challenging year, and we took some tough but necessary actions that positioned us well for the future. We proactively and decisively addressed external forces beyond our control, and we are already seeing the positive impact of those decisions within our results. While the hard work is not over, we are confident that our actions will continue to create a competitive advantage for our company. We are pleased that our first quarter net sales and adjusted EBITDA exceeded expectations despite continued headwinds. These results reinforce our belief that the most significant impacts from the tariff disruptions last year and the macroeconomic volatility, we believe these issues are largely behind us due to our decisive mitigating activities. As anticipated, we are seeing early signs of recovery in consumables. while durable products are taking longer to rebound. These external realities are disproportionately impacting our home and personal care business, where overall global consumer demand continues to be subdued. We are pleased to report that our most profitable and our largest adjusted EBITDA contributing business, our global pet care business, has returned to growth this quarter. and our brands continue to perform well in the marketplace. I'm particularly encouraged by our performance in North America, where we saw sheer gains across our companion animal categories, fueled by our brand building investments that we've been making over the past couple of months and quarters. While these categories were modestly down for the quarter, our brands actually outpaced the category and delivered growth versus the prior year. I want to take a moment and thank Ori and our entire global pet care team for their efforts and of course these results. During the first quarter, we remained disciplined in maintaining a strong balance sheet. While this period is usually characterized by cash usage as we prepare for the home and garden season, I'm quite pleased to report that we generated nearly $60 million of adjusted free cash flow in the first quarter. We also repurchased approximately 600,000 shares this quarter, and we've continued to buy back our shares following the completion of the quarter. Year to date through today, we have repurchased approximately 800,000 shares for roughly $42.3 million in total. Since the close of the HHI transaction, we've returned approximately $1.4 billion of capital to our shareholders through our various share repurchase programs. And we have repurchased almost 45% of our entire share count since the closing of that deal. We also recently have received board authorization for a brand new $300 million share repurchase program. Our strong financial position affords us meaningful flexibility to capitalize on market opportunities while continuing to invest in our businesses and return capital to our shareholders. If I could now have everyone turn your attention to slide seven, I'll tell you about our strategic priorities for fiscal 26. Our priorities remain unchanged. and they provide a clear framework that will continue to guide our decision-making throughout this year. During the first quarter, we made meaningful progress on each of our initiatives, and these are positioning us well to capitalize on opportunities that we see ahead and to also address challenges as they may arise. First, as you've heard me say before, maintaining a healthy balance sheet and remaining good financial stewards is and will continue to be the top priority for us. I'm proud of the progress we've made in optimizing our working capital and exercising diligence in our spending, which has strengthened our financial position. We ended the first quarter with nearly $127 million of cash, zero drawn on our revolver, and our net leverage was 1.65 terms, well below our long-term targets. We did this despite returning $46 million to shareholders through buybacks and dividends in the quarter. As we look ahead, we will continue to invest in our brands with a clear focus on generating meaningful returns. Our fewer, bigger, better approach is allowing us to concentrate our resources on higher impact initiatives, maximizing the effectiveness of our investments. Later in the call, Fessel will provide insights into how our innovation pipeline is connecting with consumers, highlighted by significant share gains in several of our key categories. which actually underscores the effectiveness of our approach. Secondly, in regards to operational excellence, we continue to make steady progress for the remaining planned deployments of our SAP S4 HANA platform. As a reminder, we have already implemented S4 in our North America global pet care and our home and garden businesses. and the preparation for its deployment in our appliance business and the remaining international regions is currently underway. Upgrading and rolling out our new global ERP system has been a significant undertaking, and I would like to express my sincere appreciation to our teams around the world for their expertise, perseverance, and their diligence throughout this project. This now brings me to our third key priority, which is investing in our people. As you know, fiscal 25 was a very difficult year for us and it was marked by a number of hard decisions that directly affected our teammates. While these actions were necessary to position our company for long-term success and to avoid a lot of tariff disruption, we recognize the impact that this has had on our people and we don't take that lightly. We are deeply appreciative of the resilience, the professionalism, and the commitment our employees have demonstrated during this period of volatility. Investing in our people goes way beyond hiring and development. It also means being honest about what's working and what isn't and making changes when needed. We are increasingly leveraging the expertise across the organization to address gaps, to redeploy talent where it can have the greatest impact, and frankly, to ensure that our teams are set up to execute at a high level. Our fourth priority, fiscal 26, is centered around transformation. Last quarter, I shared our expectation that both global pet care and our home and garden businesses would actually return to growth in fiscal 26. At that time, we indicated pet would lead the way with growth in the first fiscal quarter, which obviously it's done. while home and gardens growth would be weighted toward the second half of the year. We expected this first quarter for home and garden to be down, and that's due to some abnormal timing of some seasonal inventory build in the prior year's results. Our first quarter results confirmed these expectations with significant momentum, frankly, heading into the balance of the year. I am confident we remain on track to achieve our growth objectives in both of these segments. We continue also to be optimistic about the evolving M&A landscape. We will continue to be disciplined in our pursuit of acquisition opportunities in both our global pet care and our home and garden businesses. We are confident that we are well positioned within this industry to be the consolidator of choice in both categories. Lastly, on our home and personal care business, we are committed to being good stewards with a focus on maximizing the results of this business unit and improving its overall profitability in fiscal 26. As the headwinds dissipate from 25, we will continue to work towards a strategic solution for this business. Now, if everyone could turn over to slide eight, please. Here I'll give a review of our high-level fiscal 26 earnings framework. Today, we are reiterating our expectations for full-year net sales, adjusted EBITDA, and adjusted free cash flows. Thus far, this year is progressing as we planned and anticipated, with overall consumer sentiment consistent with our expectations. Before I turn the call over to Fessel, I'd like to thank each and every one of our global teammates, their dedication, their hard work, has been instrumental in advancing our company's strategic objectives and putting us back on a path to sustained growth. Now I'll turn the call to Faisal, and you'll hear more about the financials and the additional business unit insights. The call is yours, Faisal.