STERIS plc

Good morning, everyone, and welcome to the Staris PLC fourth quarter 2025 conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then one on your touchdown phones. To withdraw your questions, you may press star and two. As you all know, today's event is being recorded. At this time, I'd like to turn the floor over to Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations.

Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Investor Relations. Julie Winter, Any redistribution, retransmission, or rebroadcast of this call without the express written consent of Staris is strictly prohibited. Some of the statements made during this review are, or may be considered, forward-looking statements. Many important factors could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, those risk factors described in Staris's securities filing. The company does not undertake to update or revise any forward-looking statements as a result of new information or future events or developments. Staris' SEC filings are available through the company and on our website. In addition, on today's call, non-GAAP financial measures, including adjusted earnings per diluted share, adjusted operating income, constant currency organic revenue growth, and free cash flow, will be used. Additional information regarding these measures, including definitions, is available in our release, as well as reconciliations between GAAP and non-GAAP financial measures. Non-GAAP financial measures are presented during this call with the intent of providing greater transparency to supplemental financial information used by management and the Board of Directors in their financial analysis and operational decision making. With those cautions, I will hand the call over to Mike.

Thank you, Julie, and good morning, everyone. It is once again my pleasure to be with you this morning to review the highlights of our fourth quarter performance from continuing operations. For the fourth quarter, total as reported revenue grew 4%. Constant currency organic revenue grew 6% in the quarter, driven by volume as well as 210 basis points of price. Gross margin for the quarter increased 170 basis points compared with the prior year to 44.3%. Positive price, favorable mix, and productivity outpaced labor inflation. EBIT margin increased 110 basis points to 24.8% of revenue compared with last year. The adjusted effective tax rate in the quarter was 23.5%. The year-over-year increase was driven by unfavorable discrete item adjustments. Net income from continuing operations in the quarter was $270 million. Adjusted earnings per diluted share from continuing operations was $2.74, a 14% increase over the prior year. We are pleased with our ability to grow earnings double digits all year with lower interest expense following the divestiture of the dental segment. Capital expenditures for fiscal 2025 totaled $370 million, while depreciation and amortization totaled $476 million. We continue to pay down debt during the quarter, ending with $2 billion in total debt. Gross debt to EBITDA at quarter end was approximately 1.4 times. Free cash flow for fiscal 2025 was a record $787 million, well above our full-year guidance, driven by significant working capital improvements, in particular inventory. With that, I'll turn the call over to Dan for his remarks.