Xylem Inc.

Good day everyone and welcome to Xylem's second quarter 2026 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 and then one on your telephone keypads. To withdraw your questions, you may press star and two. Please also note today's event is being recorded. At this time, I'd like to turn the floor over to Mr. Gregory Giametti, Senior Vice President, Investor Relations, and FP&A. Please go ahead.

Thank you, Operator. Good morning, everyone, and welcome to Xylem's second 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 second quarter results and discuss the third 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 investor section of our website. A replay of today's call will be available until midnight August 11th and will be available for playback via the Investors section of our website under the heading Investors 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 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 made 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, Greg. Welcome to the team. It's great to have you with us today. And good morning, everyone. Thank you for joining us. Across our markets, we're seeing a clear theme. Both utilities and industrial customers are placing greater value on comprehensive water solutions that help improve resilience, performance, and efficiency. Over the past several years, we've been intentionally positioning Xylem for this moment, and today that strategy is increasingly taking shape. Municipal remains a core strength and a resilient foundation for our business. At the same time, we've been increasing our exposure to high-growth industrial verticals where our technology, Services and water expertise create greater value for customers. This evolution is being driven by three factors. First, more industries are relying on water to support quality, reliability, and operational performance. Second, the AI ecosystem build-out is increasing the strategic importance of water across a broader set of end markets. And third, our portfolio actions are sharpening our capabilities around the markets where we see the strongest long-term growth in value creation. One of the clearest trends we see is that customers increasingly want simplicity. They are looking to work with a strategic partner that can help them manage growing complexity around regulation, operational resiliency, and risk management. We've seen this play out in a number of engagements this year, from the expansion of our long-term partnership with Dow, which became the largest contract in our company's history, to our recent win with one of the world's largest chemical companies. In this engagement, we were selected over a long-term incumbent to secure a 20-year commitment. This opportunity brings together our advanced treatment technology, operations, maintenance, and digital monitoring under a single integrated model. Importantly, this momentum reflects the stronger industrial platform we created through the Avoqua acquisition, which significantly expands our capabilities across treatment, reuse, and services. deepening our presence in attractive industrial end markets. That brings me to the second area which we documented in the Watering the New Economy report we released at Davos in January. Water will play an increasingly strategic role in the AI ecosystem. As AI-related infrastructure expands from data centers and semiconductors to power and mining, access to reliable water is becoming increasingly important. We're already supporting data centers through wins with hyperscalers, HVAC OEMs, and infrastructure partners, and this year's revenue is expected to increase by approximately 200%. However, this is only part of the story. We view data centers as an early indicator of a larger opportunity across the AI ecosystem, where water is increasingly becoming a critical input to infrastructure development and industrial growth. and over time we see this same value proposition extending into additional verticals such as food and beverage and life sciences, where water quality, reliability and sustainability are also essential. To align our business with these growth drivers, we have actively reshaped the portfolio, sharpening our focus through more than $400 million of investitures while acquiring assets that expand our ability to serve customers in high growth markets. The recently closed Trios acquisition strengthens the intelligence layer of our portfolio to advance sensing and water quality capabilities that are highly relevant to industrial customers. We also recently signed an agreement to acquire Waterfleet, which expands our capabilities in mobile water treatment and strengthens our position across AI-related infrastructure markets. This is a services-led business with recurring revenue, established customer relationships, and strong commercial momentum, including a multimillion-dollar project supporting a hyperscalers data center build-out in Texas. And importantly, we're not investing ahead of hypothetical demand. We are aligning the portfolio with demand patterns we're already seeing in the market and where customers are already choosing Xylem to solve increasingly complex water challenges. At the same time, demand in our municipal markets remains healthy, supported by strong infrastructure spending and backlog executions. I'll now turn it over to Bill to take you through the details for Q2 and our updated guidance.