Vontier Corporation Common Stock

Thank you. Good morning, everyone, and thank you for joining us on the call this morning to discuss our third quarter results.

With me today are Mark Morelli, our President and Chief Executive Officer, and Nshuman Agha, our Senior Vice President and Chief Financial Officer. You can find both our press release as well as our slide presentation that we will refer to during today's call on the investor relations section of our website at investors.vonteer.com. Please note that during today's call, we will present certain non-GAAP financial measures. We will also make forward-looking statements within the meetings of the federal securities laws, including statements regarding events or developments that we expect or anticipate will or may occur in the future. These forward-looking statements are subject to risks and uncertainties. Actual results might differ materially from any forward-looking statements that we make today, and we do not assume any obligation to update them. Information regarding these factors that may cause actual results to differ materially from these forward-looking statements is available in our website and in our SEC filings. With that, please turn to slide three, and I'll turn the call over to Mark.

Thanks, Ryan, and good morning, everyone. Thank you for joining us on the call today. I'm pleased with the traction we are seeing from our connected mobility strategy, which we outline in greater detail at our convenience retail showcase two weeks ago. We've realigned the organization to better execute our strategic vision. We're reinvigorating new product development and building significant competitive advantages. We're the clear leader in this space with some of the industry's most innovative, integrated solutions. I'm encouraged by the progress we are making which is reinforced in our customer conversations. I'll touch on a few takeaways from our event in a few minutes. Turning to the quarter, we delivered solid Q3 results in a dynamic environment. The quarter played out as expected, consistent with the preliminary numbers we shared at our investor event. Our sales adjusted operating margin and EPS landed at or near the high end of our guidance. Our teams remain disciplined on execution advancing our 80-20 simplification efforts and tariff mitigation actions while delivering on the critical needs of our customers. Core sales were essentially flat for the quarter. Solid underlying performance at mobility tech and environmental and fueling was offset by ongoing macro pressure at our repair solution segment. Importantly, demand within the convenience retail and market remains constructive. and contributed to the quarter's momentum, and we see the repair segment stabilizing sequentially. Our car wash business returned to growth a quarter ahead of expectations as customers are adopting our cloud-based Pathion solution. This solution, which we featured at our investor event, helped us secure some key wins in the quarter and has a growing pipeline of opportunities. And in convenience retail, Our unified payment and remote asset management solutions are delivering real value for our customers, driving low double-digit growth across retail solutions. We have generated more than $275 million of adjusted free cash flow year-to-date, and we've deployed roughly $175 million of that to share buyback so far this year. We also took a few targeted portfolio actions in the quarter, divesting two non-core assets, and exiting a minority equity stake, concrete examples of our 80-20 work in action. Our decision to exit these businesses is a result of regional simplification efforts to sharpen our product and go-to-market focus, improving the overall growth and margin profile of OnTier. Given our solid execution year to date and the traction we're seeing in our end markets, we're raising the midpoint of our full-year guidance. and Schumann will provide more details in a few minutes. I'm encouraged by the fact that core growth is now tracking above 2% for the year, particularly as we've absorbed the impact from two businesses that have reset over the last 12 to 24 months. We expect mid single digit adjusted operating profit growth and remain on track for roughly 10% adjusted EPS growth this year. This combination reinforces a solid value creation algorithm. Turning to slide four. As many of you are aware, we held a successful investor event at the annual National Association of Convenience Stores trade show two weeks ago and used that forum to highlight the comprehensive platform we've built for convenience retail. We're now a more focused, higher performing business with a more synergistic portfolio and broader, more comprehensive solutions. Our connected mobility strategy differentiates us. We are delivering integrated site-wide solutions that combine hardware, software, connectivity, and services to help our customers navigate complexity. This lowers their operating costs and unlocks growth through improving consumer engagement. These end-to-end solutions expand our total addressable market and create recurring revenue opportunities. Our recently announced go-to-market strategy simplifies the sale and deployment of our differentiated solutions through key account managers while streamlining processes, reducing friction, and speeding development with shorter sales cycles. Moving to slide five. Our refreshed value creation framework rests on three pillars. Pillar one supports accelerating organic growth via connected mobility and innovation. Pillar two focuses on optimizing our core operations to drive improved and more consistent margin expansion through the volunteer business system. And pillar three guides how we deploy capital effectively, dynamically prioritizing the highest return options available. As we look toward 2026, each pillar will play a key role in delivering results. Assuming a similar macro backdrop extends through next year, we expect the convenience retail end market to be constructive, as we discussed at our investor event. We target above-market growth, led by our convenience retail solutions, including accelerating growth in car wash. We have strong multi-year secular tailwinds extending into 2026 and beyond. Repair solutions demand is likely to remain soft, though distributor inventories are lean and we are seeing sequential revenue stabilization. We expect better operating margin performance in 2026, driven by underlying productivity improvements, increased R&D efficiency, continued 80-20 simplification efforts, and more favorable mix as volumes at car wash and repair solutions normalize. On top of this, we expect modest margin accretion from the portfolio management actions we are taking. On capital deployment, our approach will be consistent with what you've seen from us, balancing organic investment with shareholder returns and balance sheet health. To summarize, our strategy is working. We delivered strong discipline execution in Q3, converted that into cash, refined the portfolio, and we're advancing our connected mobility strategy to capture incremental share gains. We will continue to manage near-term costs and tariff pressures while investing where we see the best returns and positioning the company for above-market growth in key end markets. I want to thank our teams for their focus and agility. Their dedication to continuous improvement through the volunteer business system gives us confidence to raise our outlook and to keep executing with discipline. With that, I'll turn the call over to Ann Schumann to walk through the quarter's financial details.