Westinghouse Air Brake Technologies Corporation

Good day and welcome to the Wabtec second quarter 2026 earnings conference call. All participants will be in 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 then one on a touch tone phone. To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn the conference over to Kyra Yates, Vice President of Investor Relations. Please go ahead.

Thank you, Operator. Good morning, everyone, and welcome to Wabtec's second quarter 2026 earnings call. With us today are Chairman and CEO Rafael Santana, CFO John Olin, and Senior Vice President of Finance John Mastalerz. Today's slide presentation along with our earnings release and financial disclosures were posted to our website earlier today and can be accessed on the investor relations tab. Some statements we are making are forward looking and based on our best view of the world and our business today. For more detailed risks, uncertainties, and assumptions relating to our forward looking statements, please see the disclosures in our earnings release and presentation. We will also discuss non-GAAP financial metrics and encourage you to read our disclosures and reconciliation tables carefully as you consider these metrics. I will now turn the call over to Rafael.

Thanks, Kyra, and good morning, everyone. We're proud of the progress we have made in the first half of the year, which is strengthening our position as a leading industrial technology company. It reflects the strength of the leadership position We continue to build across our portfolio and the continued focus of the WAPTAC team to deliver for our stakeholders. With that, let's move to slide four. I'll start with an update on our business, my perspectives on the quarter, and progress against our long-term value creation framework, and then John will cover the financials. We delivered a strong first half of the year, which exceeded our expectations despite tariff headwinds, unfavorable business mix, and challenging prior year comparisons. Through disciplined execution across the organization, we achieved robust growth, expanded margins, and delivered double-digit earnings per share growth. Looking ahead to the second half, I remain encouraged by the healthy pipeline and continued demands for our core products and services, the profitable growth of our 12-month and multi-year backlogs, and our focus on driving productivity and efficiency. This momentum is evident in our second quarter operational execution and our overall financial results. Having said that, sales were $3.2 billion. which was up 17.5% and adjusted EPS was up 22% from the year-ago quarter. Total cash flow from operations for the quarter was $441 million. Backlog remains a key strength. 12-month backlog was up 11% from the prior year while the multi-year backlog exceeded $30 billion, up 42%. Our financial position remains strong. We continue to execute against our capital allocation framework and expect to continue to compound long-term value for our shareholders. Shifting our focus to slide five, let's talk about our 2026 end market expectations in more detail. While key metrics across our freight markets remain mixed, we continue to be encouraged Thank you for joining us today. Car loads growth during the quarter was mixed, but the long-term car load growth trends continue to be robust. Significant investments to expand and upgrade infrastructure are driving our international orders pipeline. Looking at the North American railcar build, the industry forecast for new railcars slightly up compared to prior quarter and is now projected to be approximately 25,000 cars for 2026. which is still down 21% from 2025. Finally, turning to the transit sector, we continue to see positive underlying indicators for growth. Ridership continues to increase in key markets such as Europe and India, and we continue to see strong backlogs of car builders supported by robust levels of public investment for fleet expansion and renewals. Now let's turn to slide six, and highlight several recent business wins. During the quarter, we secured a billion dollar order from an Australian customer spending across locomotives, services, components and digital solutions. This award highlights the breadth of WAPTX capabilities and demonstrates how our integrated offering are creating value throughout the product life cycle. We also signed a $184 million order for positive train control with Vale, strengthening our long-standing partnership and marking an important step forward in advancing rail safety, efficiency, and automation across Brazil's rail network. In transit, we were awarded a $55 million platform door order for the Grand Paris Express project. Moving to mining. Our APAC team secured a $52 million order to supply drive systems for 240-ton mining trucks. Overall, these successes continue to demonstrate our leadership in the markets we serve, the strength of our pipeline, and the commitment of the Wabtec team to deliver meaningful results for our customers and stakeholders. With that, I'll turn it over to John to review the quarter segment results and our overall financial performance. John?