Xylem Inc.

Welcome to Xylem's first quarter 2026 results 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 your telephone keypad. To withdraw your question, please press star and then two. Please note this event is being recorded. I would now like to turn the conference over to Mr. Michael Travers, Senior Director of Investor Relations. Please go ahead.

Thank you, Operator. Good morning, everyone, and welcome to Xylem's first quarter 2026 earnings call. With me today are Chief Executive Officer Matthew Pine and Chief Financial Officer Bill Grogan. They will provide their perspectives on Xylem's first quarter results and discuss the second quarter and full year 2026 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 and 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 Investors section of the website. A replay of today's call will be available until midnight May 12th and will be available for playback via the Investors 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 Zone's most recent annual report on Floor 10-K and in subsequent reports filed with the SEC. Please note that 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 our 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. Please turn to slide four, and I'll turn the call over to our CEO, Matthew Fine.

Thank you, Mike. Good morning, everyone, and thank you for joining us. Coming off a strong 2025 with sustained momentum, 2026 is proving resilient with a solid first quarter financial performance despite a dynamic external environment. Demand for our mission-critical solutions were consistent with expectations. Our teams are leveraging our reduced complexity to execute with discipline, staying close to customers, as evidenced by our strong book-to-bill in the quarter, and focusing on long-term value creation. We had a strong start to the year deploying capital across the business in line with our priorities. In January, we increased our dividend by about 8%. In February, we announced a new $1.5 billion share repurchase authorization, executing on $581 million in quarter one, This reflects our confidence in the business and our commitment to a balanced approach to capital allocation. In March, we signed an agreement to acquire a German firm that designs and manufactures highly engineered water quality instruments. The company is a leader in submersible sensors for environmental monitoring, and the acquisition expands our role as a systems intelligence partner, supporting resilient long cycle demand and enabling higher value digital and service solutions. I also want to highlight how our transformation is helping advance our priorities. Our self-improvement initiatives are foundational, simplifying our structure and processes to build stronger capabilities. They strengthen our resilience, enhancing our ability to mitigate macro uncertainty. That operational foundation is centered around making it easier to do business with us and building our growth engine. To that end, WSS booked our largest order ever this month. an outsourced water contract for $850 million delivered over 20 years. This isn't just a milestone, it reinforces that our strategy is delivering. And we continue to make progress with our discipline approach to M&A with a solid pipeline of opportunities in place. We're progressing towards our $1 billion annual target, optimizing our portfolio and leveraging our balance sheet. Taken together, this progress shows we are well underway and our multi-year operating model transformation, strengthening our growth engine through discipline execution and operational rigor. I'll pass it over to Bill to take us through the details of Q1 and updated guidance.