Zurn Elkay Water Solutions Corporation

In introduction, I'll turn the call over to Brian Wendland.

Good morning, everyone, and thanks for joining the call today. Before we begin, I'd like to remind everyone that this call contains certain forward-looking statements that are subject to the Safe Harbor language contained in the press release that we issued yesterday afternoon, as well as in our findings with the SEC. In addition, some comparisons will refer to non-GAAP measures. Our earnings release and SEC findings contain additional information about these non-GAAP measures, why we use them, and why we believe they are helpful to investors and contain certain reconciliations of the corresponding GAAP information. Similar to prior quarters, we will speak to certain non-GAAP metrics as we feel they provide a better understanding of our operating results. These measures are not a substitute for GAAP. We encourage you to review the GAAP information in our earnings release and in our SEC filings. With that, I'll turn the call over to Todd Adams, Chairman and CEO of Zurn LK Water Solutions.

Thanks, Brian, and good morning, everyone, and I appreciate Everyone who's joining us this morning, I'll start right on page three. Fourth quarter, again, ended a little bit better than what we had guided to basically across the board. We leveraged fourth quarter core growth of 4% into 8% adjusted EBITDA growth, which drove margins to 24.6%, up about 100 basis points year over year. For the year, we delivered 4% organic growth amidst a market that in aggregate was sort of flattish. and EBITDA grew about 15% to $390 million for the total year. Margins for the year ended at 24.9%, up 270 basis points. In absolute dollar terms, we leveraged our $36 million of sales growth into $50 million of EBITDA growth year over year. Our free cash flow in the quarter was $55 million, bringing the full year to $272 million. In the quarter, we deployed $20 million to repurchase 533,000 shares, bringing the full-year repurchases to $150 million in an average price of just under $32. We also used $20 million in the fourth quarter to top off our pension plan, and we'll be exiting that over the course of 2025. Dave will spin through our outlook later in the call, but taken as a whole, I think we feel good about the trajectory of our end markets. We feel great about how we're executing while still having plenty of opportunities and things to improve upon in the coming year and finally confident that we have the ability to navigate through some of the potential uncertainties that will invariably arise throughout 2025 by leveraging the Zearn LK Business System. I'll turn it over to Dave to take you through some more color on the quarter.