Westinghouse Air Brake Technologies Corporation

Good day, and welcome to the Web Tech second quarter 2019 earnings release conference call. All participants will be in listen-only mode. Should you need assistance, please signal conference specialists 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, then one on a touchstone phone. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would like to turn the conference call over to Ms. Christine Kubacki, Vice President of Investor Relations. The floor is yours, ma'am.

Thank you, Mike. Good morning, everyone, and welcome to Wabtec's second quarter earnings call. With us today are Executive Chairman Al Newpaver, President and CEO Raphael Santana, CFO Pat Dugan, and Corporate Controller John Mastelers. Before we start, I would like to remind you that our earnings release and financial disclosures were posted on our website earlier today and can be accessed on the Investor Relations tab on wabtechcorps.com. Some statements we will be making today are forward-looking and based on our best view of the world today. We will also disclose non-GAAP financial metrics and encourage you to read our disclosures and reconciliation tables carefully as you consider these metrics. And now I will turn the call over to Al.

Thanks, Christine, and good morning to everyone. First, I'd like to start by welcoming Christine to the team. I've known Christine for quite some time, and she's already had a very positive impact at Webtek. I'm confident she will do the same for you, our investors, going forward. Today, we are looking forward to sharing with you the progress that we're making across the portfolio as the new Webtek. This is a strong company that is globally positioned with a significant backlog, a diverse portfolio of businesses, and an unmatched market position. It's a company with transformational technologies and solutions and established position in digital and electronics. These are disruptive technologies that are important for the future of lab tech as well as the industry. and will give us momentum as we help customers redefine how they run their assets and operations. And finally, it's a company with a proven leadership team that is managed successfully through the cycles, with the right levers in place to deliver continuous lean improvement and drive improved productivity. We are very pleased with the progress that we have made since the Wabtec and GE transportation merger. We have made great strides in integrating our cultures and integrating our organizational structure. We have a strong leadership team in place with alignment, and we have validated our synergy run rate targets of 250 million by year four. Before I turn it over to Rafael, I also wanted to share some insights on him as a leader. I've had the opportunity to work closely with him since we announced the deal some 14 months ago. Rafael has a deep understanding of the portfolio and a unique perspective on the world given his global background. He is a proven growth leader, a strong operator, and has a deep appreciation for proven capital allocations. He is also a champion of lean enterprise and continuous improvement and keenly focused on delivering for both the short and long term. These traits are great foundational qualities to have as a CEO, and I'm looking forward to all that he can deliver. With that, I'll hand the call over to Raphael.