Xylem Inc.

Welcome to Xylem's third quarter 2025 results 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, then one on your telephone keypad. To withdraw your question, please press star, then two. Please note that this event is being recorded. I would now like to turn the conference over to Mr. Keith Buechner, Vice President of Investor Relations and FP&A. Please go ahead, sir.

Thank you, Operator. Good morning, everyone, and welcome to Xylem's third quarter 2025 earnings call. With me today are Chief Executive Officer Matthew Pine and Chief Financial Officer Bill Grogan. They will provide their perspective on Xylem's third quarter results and discuss the fourth quarter and full year 2025 outlook. Following our prepared remarks, we will address questions related to the information covered on the call. I'll ask that you please keep to one question in a follow-up and then return to the queue. As a reminder, this call and our webcast are accompanied by a slide presentation available in the investor section of our website. A replay of today's call will be available until midnight, November 11th, and will be available for playback via the investor section of our website under the heading investor events. Please turn to slide two. We will make some forward-looking statements on today's call, including references to future events or developments that we anticipate will or may occur in the future. These statements are subject to future risks and uncertainties, such as those factors described in Xylem's most recent annual report on Form 10-K and in subsequent reports filed with the SEC. Please note the company undertakes no obligation to update any forward-looking statements publicly to reflect subsequent events or circumstances, and actual events or results could differ materially from those anticipated. Please turn to slide three. We have provided you with a summary of key performance metrics, including both GAAP and non-GAAP metrics, For the purposes of today's call, all references will be on an organic and or adjusted basis unless otherwise indicated, and non-GAAP financials have been reconciled for you and are included in the appendix section of the presentation. Now, please turn to slide four, and I will turn the call over to our CEO, Matthew Pine.

Thank you, Keith. Good morning, everyone, and thank you for joining us. I'm pleased to share that the team delivered another great quarter, continuing our momentum with disciplined execution, driving strong results across the business. Revenue grew in all segments and most end markets with double-digit growth in measurement and control solutions and water solutions and services. We also achieved record quarterly EBITDA margin north of 23%, expanding 200 basis points year over year, and delivering 23% EPS growth. It's a great performance by the team, supported by healthy demand. While orders were down slightly against tough comps, we saw notable growth in measurement and control solutions with strong performance across smart metering, underscoring the differentiation of our core portfolio. We continue to see strong demand for our mission-critical solutions across all segments. These results reflect the impact of our commercial and operational momentum, as well as the benefits of our ongoing simplification efforts. Our 80-20 implementations continue to drive margin improvement and focus our resources on the highest value opportunities. And we're also moving even faster than anticipated, especially with the restructuring component of our operating model transformation. These changes we've made to culture, processes, and structure are enabling faster decisions clearer accountability, and better service. The team's impact on increasing quality of our customer experience is a great example. We've again set new Xylem benchmarks for on-time performance. That serves to strengthen our customer relationships and reinforce our reputation for reliability. Solid execution is deepening trust with our customers. At the same time, it's expanding margins. And they see the benefit in how we partner with them on innovation, because 80-20 focuses our energy and resources on their most important challenges. As we've often said, 80-20 isn't a cost-out tool. It's about resource allocation, helping us redeploy capacity to the areas of our portfolio and customer base where value and impact are greatest, which is aligned with our strategy of portfolio optimization and disciplined capital deployment. It's that discipline and mindset that led to divesting the international metering business, which we announced earlier this month. The sale concentrates our focus on AMI technologies in markets where we have the strongest differentiation and our best position for profitable growth. Turning to our outlook, given our performance and resilient market demand, we're raising our full year guidance for revenue, margin, and EPS. Our guide reflects confidence in the team's ability to deliver our commitments, even as we manage through continuing macro uncertainty. We expect our momentum to continue through the end of the year and beyond, and we're solidly on track to deliver our long-term financial framework. With that, I'll turn it over to Bill to walk through the quarter's results, our financial position, and our updated outlook in more detail. Bill?