Triumph Group, Inc.

I will now introduce Mr. Thomas Quigley to begin the call. Please go ahead.

Thank you. Good morning and welcome to our first quarter fiscal 2025 earnings call. Today I'm joined by Dan Crowley, the company's chairman, president, and chief executive officer, and Jim McCabe, senior vice president and chief financial officer of Triumph. As we review the financial results for the quarter, please refer to the presentation posted on our website this morning. We will discuss our adjusted results. Our adjustments and any reconciliation of non-GAAP financial measures to comparable GAAP measures are explained in the earnings press release and the presentation. Certain statements on this call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause Triumph's actual results performance achievements to be materially different from any expected future results performance or achievements expressed or implied in the forward-looking statements.

I'll turn it over to you. Thanks, Tom, and welcome to Triumph's first quarter fiscal 2025 call. I'm pleased to report that Triumph's off to a solid start to the year and expect continued improvement as we move through the course of the fiscal 2025 and into seasonally stronger quarters. Turning to page three, I'll highlight key accomplishments from the quarter. We generated year-over-year sales growth of 7%, driven by strong aftermarket demand, offsetting a modest reduction in military OEM production demand. We expanded margins on price increases and favorable sales mix. We retired an additional $120 million of debt, strengthening our balance sheet. We were rewarded with recent credit rating upgrades from both Moody's and S&P. Turning to page four, you can see that aftermarket sales, including spares and repairs from our systems and support segment, is trending up, in support of both commercial and military end markets. Triumph aftermarket sales were up 27% year over year, as we benefit from a rising average fleet age, the need to fly older aircraft longer due to the shortage of new aircraft entering the fleet, and the emergent 787 landing gear overhaul cycle. As we mentioned last quarter, the 787 landing gear overhaul cycle is 12 years, and the oldest member of the fleet are hitting 12 years now. necessitating the removal and overhaul of all landing gear actuation, essentially all of which Triumph supplies. Our typical twin-aisle landing gear actuation overhaul price is between $185,000 and $400,000. The steady rise in spares and repairs on key platforms, including the Boeing 737 and Airbus A320 fleets and the Boeing 787 and Airbus A380 wide-body fleets, benefits our sales mix and financials. Overall military segment revenues were stable to slightly down, supported by the strength of CH-53K sales, offset by V-22 and E-2D OEM declines, though mostly offset by aftermarket sales on these same platforms. Key wins for the quarter include contracts for the F-18 ENF fuel pump overhaul, the T-7A gearbox, and the Kratos XQ58 landing gear, which benefit three of our four Triumph operating companies where we are positioned on key growth platforms. As discussed on our last earnings call, the inflationary impacts on our interiors business continue to be challenging, but largely in line with our expectations and reflective of broader industry trends, particularly a decline in narrow body production rates and supply chain cost increases. We took actions in the quarter to right-size the Interior's business, consistent with a delayed max ramp, while we continue our commercial discussions with Boeing. Triumph remains on track to achieve our overall annual net sales, adjusted EBITDA, and cash flow guidance. When adjusting for a legacy environmental legal contingency we recognized in the quarter, our operating income and EPS guidance also remain unchanged. Jim will provide more color on our outlook later in the call. I'm also pleased with our ability to execute our pivot to systems and IP-based aftermarket. This is the first quarter that Triumph has operated as a pure play systems, IP-based aftermarket and interiors company following the divestiture of our product support business. We have partnered with AAR on a seamless transition and identified areas to win together through AAR's distribution channels. As reported, the product support divestiture served as a catalyst to allow us to significantly and rapidly delever the business, strengthen our balance sheet, and meaningfully reduce our cash interest expense. We remain well positioned to capitalize on strong demand from the aftermarket in the short term and higher OEM build rates over the next 18 months. Triumph is ready for the expected A&D industry super cycle based on our diversification of customers and end markets as we gain share with new products, MRO services, and takeaways. Here's Jim to review our financial results.