Greetings, and welcome to ABC Technologies Q4 and fiscal 2022 earnings conference call. As a reminder, all participants are in listen-only mode, and the conference is being recorded. After the presentation, there'll be an opportunity to ask questions. To join the question queue, you may press star, then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. I would now like to turn the conference over to your host, Nathan Barton, Vice President, Investor Relations. Thank you, sir. You may begin. Thank you, and thanks to everyone for joining us today. With me on the call are ABC's newly appointed President and Chief Executive Officer, Terry Campbell, and David Smith, Chief Financial Officer of ABC Technologies. This call is being webcast live on ABC Technologies Investor Relations website. The webcast and accompanying slides will be available for replay for 12 months following this call. The content of today's call is the property of ABC Technologies. It cannot be reproduced or transcribed without prior written consent from the company. Before we begin, I would like to remind you that today's call will include forward-looking statements within the meaning of applicable securities laws, which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and risk factor discussions in our filings with the Canadian Securities Regulatory Authorities on SEDAR. Please review the disclaimer on slide two of the earnings presentation for additional information. We assume no obligation to update any of these forward-looking statements or information unless required by law. I wanna remind our investors that we are on a fiscal year that began July 1, 2021. All references to Q4 fiscal 2022 are to our fiscal quarter ended June 30, 2022, and Q4 fiscal 2021 are to our fiscal quarter ended June 30, 2021. References to fiscal 2022 are to the 12 months ending June 30, 2022, and fiscal 2021 are to the 12 months ending June 30, 2021. I also wanna note that while ABC shares trade in Canadian dollars, the company reports its financials in US dollars. With that, we'll move to slide 4. As we announced on August sixteenth, the board of directors has appointed Terry Campbell as ABC's new president and chief executive officer, taking over the position from Todd Sheppelman. This transition has been in the works since Terry joined ABC earlier this year, bringing with him a strong track record of operational leadership from his time with other major Tier One suppliers, including Magna, Johnson Controls, and most recently, the Woodbridge Group, where he was chief operating officer overseeing more than 10,000 employees in 60 locations across 14 countries. The board of directors, along with the rest of ABC, look forward to supporting Terry as the company continues to grow its leadership in the automotive plastics and lightweighting space. With that, I'd like to turn the call over to our newly appointed President and Chief Executive Officer, Terry Campbell. Thank you, Nathan, and good morning, everyone. I'm very excited to be taking on the position of president and chief executive officer here at ABC, and I want to take this opportunity to thank the board for the confidence they've shown in me to lead this great organization. As I look forward, I'm excited about the opportunities that ABC has ahead. From new business wins and product portfolio tailwinds as the automotive industry transitions to electric vehicles, to the integration of our recent acquisitions and the runway ahead of us for future M&A, and most importantly, working with all the great people that make ABC a leader in the lightweighting space. I hope that my 25+ years of experience leading other Tier One suppliers in operations, manufacturing, launch, and strategy will bring a new perspective to the organization and help us continue to build on ABC's existing strengths while guiding the company into its next phase of growth as an innovative supplier of automotive plastics. With that said, I will now turn to our results for the quarter and the year on slide 6. David will provide additional data on our financials in his remarks. To summarize, though, we saw some promising trends this quarter. Top-line strength continued to be offset by industry-wide cost inflation pressures and operational challenges at a few of our plants, brought on by the production volatility from our OEM customers. These pressures could not be adequately offset by cost controls and operating efficiency improvements, resulting in margins that still significantly miss both our internal targets and those that we have previously communicated with the investment community. The contribution from last quarter's acquisitions of dlhBOWLES and Karl Etzel elevated consolidated gross margin, but not enough to offset the continued profitability pressures in core ABC operations. However, given the challenging macro environment we still find ourselves in, the senior leadership of ABC and I are exploring several measures, controls, and actions to bolster future performance, streamline operations, and manage costs. Finally, you will have seen in our SEDAR filings and press release from this morning, ABC entered into an agreement to acquire Continental's washer systems product line for approximately EUR 20.5 million just prior to the end of the quarter. This acquisition will add to our growing washer systems portfolio and expand our ability to serve our customers globally. Moving to the fiscal year 2022 highlights on slide 7. Our full-year revenue remained roughly flat at about $972 million against revenue of $971 million last year. Adjusted EBITDA was $45.7 million for the year, and adjusted free cash flow came in at a -$46.2 million. Largely due to working capital cash usage as production volumes fell off a cliff in fiscal Q1 during the worst of the semiconductor crisis and the resulting OEM production shutdowns. As anyone covering the auto universe is aware, the supply chain issues that began to impact the industry in our fiscal Q3 2021 continued through the entirety of our fiscal 2022, severely impacting our financial results. Semiconductor shortages, raw material price increases, labor shortages, as well as wage inflation and utility cost inflation all drove results that fell well short of our expectations. We have seen resin, steel, and other components remain elevated at historically high levels. In fact, management estimates the impacts of these various macro factors was $240 million of revenue and over $150 million of EBITDA when you include stranded labor costs, components, and non-resin raw materials. The significantly higher negative flow through on profitability was driven by the elevated costs I've just discussed that have no associated revenue with them. However, against this backdrop, ABC made several strategic strides by closing on two acquisitions, signing a third, and signing a large sale-leaseback, which will bring in approximately $50 million of capital that we will use to pay down debt. Taken together, these moves will continue to strengthen ABC's long-term competitive position, providing additional scale and runway for growth. The additional runway from the acquisitions complement success in our top line, seen through our business wins, which exceeded target for second year in a row with $2.2 billion in life of program revenue. ABC also benefit from the largest year ever of electric vehicle wins with $435 million in lifetime revenue. As we have spoken about extensively each quarter, the industry witnessed significant operational challenges during the fiscal year that were both unpredictable as well as out of ABC's control. What we can say is that following the dismal industry-wide performance during our fiscal Q1, production stabilization did improve, with our financial results following suit to some degree, albeit at levels well below where we would expect to operate under normal conditions. As we enter calendar 2023, we are hopeful that production begins to look something closer to normal. While we expect continued impact from supply chain issues into fiscal 2023, we're hopeful that the OEM production levels will continue to improve. As a result of the expectation that cost pressures will continue, ABC has taken actions to mitigate the impact on our results and improve margins in the near term, as well as strengthen the normalized operating margin of the business for the future when production returns to a more normal cadence. Moving on to slide 8 for a review of the broader auto market related to production and inventory. On the left, you can see the total U.S. inventory has remained depressed, though on a slight improvement path since October 2021. With roughly 1.2 million vehicles on dealer lots, average inventory of 24 days is roughly 65% lower than dealers had historically kept on hand pre-COVID. Now shifting our focus to the production environment. Though IHS has reduced the production forecast through Q2 2027, a more normalized production environment is still expected to resume in calendar year 2023 as macroeconomic challenges abate, with inventory build potentially beginning in late calendar 2023. IHS is projecting that we'll see an average of 4.1 million vehicles produced each quarter from calendar 2023 through 2029 or later. Depressed inventory levels combined with a strong consumer and an aging North American vehicle fleet indicate robust long-term demand for both the industry and ABC going forward. However, it remains to be seen when the supply side will bounce back to meet the demand or when semiconductor shortages and inflated input costs might abate. With the added uncertainty of the economic slowdown, ABC continues to push operational improvements and investigate strategies to offset ongoing challenges. Moving to slide 9, where you will see some of our important launches and product wins during fiscal 2022. In the year, we launched a number of products on the new Ford Bronco, along with two important halo EV platform launches with GM via the new Cadillac LYRIQ, as well as the GMC HUMMER. Through these launches, ABC continues to demonstrate the positive mix shift in the top-line performance that are aligned with some key trends in the auto industry, specifically the shift towards light trucks and electric vehicles. ABC also launched exterior system products on the Honda Civic, a consistently top-selling vehicle in North America, which enables us to continue broadening our customer base with key Asian OEM customers, with which we expect to see additional growth over the next several years. Though industry-wide production has been temporarily affected given a challenging macroeconomic environment, OEM's new business quoting activity signals expectations for a robust future production. For example, on new business wins, we had $1.2 billion lifetime revenue win on a U.S.-based OEM truck, along with a large lifetime battery electric vehicle win with a luxury OEM. In addition to these two notable platform wins, ABC has also exceeded its new business win target for the second year in a row. We were awarded 84 distinct program wins across 15 different OEMs for approximately $2.2 billion of lifetime program revenue. Importantly for the future growth of the company, 33 of these programs were EV wins on 19 different vehicles, representing approximately 25% of total awarded annual and roughly 20% of life of program revenue. We continue to expect that ABC will book further meaningful EV wins in the upcoming fiscal year. With that, I will turn the call over to David. Thanks, Terry. I'll start with an overview of our financial performance in our fiscal Q4 end of June 30, followed by a brief summary of our full-year fiscal 2022 financial performance. The charts on slide 11 show revenue, adjusted EBITDA, and adjusted free cash flow over the course of our fiscal year. I will also give additional color to these and other major income statement lines. Looking first at the graph on the top left, ABC's revenue for Q4 fiscal 2022 was CAD 319.2 million. This is up from CAD 233.2 million in Q4 fiscal 2021, which was a 36.9% increase, with just over half of that growth attributable to the recent acquisitions of dlhBOWLES and Karl Etzel. As a result of ABC's favorable product mix in the quarter, the legacy business's top-line growth of 14.5% outpaced industry production in North America, which increased by only 11.7% from Q4 fiscal 2021 to Q4 fiscal 2022. On a full year basis, reported revenue remained roughly flat year over year, increasing from $970.9 million in fiscal year 2021 to $971.9 million. Excluding acquisition contribution, ABC experienced a significant decrease in revenue compared to fiscal year 2021 due to lost production as a result of OEM plant closures, driven primarily by semiconductor shortages. Last year, in contrast, production approached near normal levels after the initial COVID-19 lockdowns from March to May 2020. It is worth noting, though, that ABC's top line, excluding acquisitions, still performed better than North American industry production by 1.9% in the year. Finally, before I move on from the top line, I'd like to point out the positive trend we've seen with revenue increasing progressively through the year. While the first three quarters saw a declining trend in terms of impact from external factors, management notes the volatile nature of these challenges and the renewed impact in fiscal Q4. Global inflationary pressures continued to negatively impact cost of sales, resulting in gross margin contraction, due in large part to increased raw material costs, primarily resin, glass, rubber, paint, and steel, as well as higher labor and freight costs. As a result, cost of sales increased $90.8 million from $200.7 million in Q4 fiscal 2021 compared to $291.5 million in Q4 fiscal 2022, though it should be noted that roughly half of this increase is attributable to recent acquisitions. Moving on to SG&A. Total SG&A increased from $36.3 million in Q4 fiscal 2021 to $44.1 million in Q4 fiscal 2022. ABC reported a net loss of $13.6 million in Q4, compared to a net loss of $11.7 million in Q4 of the prior year. The net loss per share in Q4 fiscal 2022 was $0.12 versus a net loss per share of $0.22 in the same quarter last year. Both figures are on a basic and fully diluted basis. Moving now to the two graphs you see on the right-hand side of this slide. Adjusted EBITDA for the Q4 fiscal 2022 decreased to $15.2 million from $26.9 million in Q4 of the prior year. The adjusted EBITDA margin for the quarter was 4.3% compared to 10.1% last year. Higher year-over-year sales were offset by inflationary input costs, resulting in this EBITDA margin compression, as Terry discussed with you earlier. Looking to the final bar on the graph in the bottom right of this slide, you'll see that ABC closed the year with adjusted EBITDA for the fiscal year 2022 at $45.7 million. This was compared to $133.4 million in fiscal 2021, a decrease of $87.7 million. This depressed full year EBITDA performance was largely driven by inflationary cost pressures and production challenges that ABC faced in fiscal Q1 and Q2 and then again in fiscal Q4. These production challenges were brought on by broader macroeconomic issues affecting the industry, in particular, semiconductor shortages that caused our OEM customers to frequently start and stop production, resulting in significant stranded costs for ABC. From Q2 onwards, the benefits of slowly recovering OEM production volumes were offset by inflationary cost pressures as well as operating issues we have faced at some of our plants that Terry alluded to earlier. I will note that in this regard, ABC, like our other Tier One competitors, is in discussions with the OEMs about recovering some or all of the inflationary costs that we've incurred. This recovery is intended to offset some of the negative year-over-year financial results that the business has faced this fiscal year. These conversations are ongoing. As I did with revenue, I point to the graph on the bottom right that shows our cumulative adjusted EBITDA performance to highlight that despite the difficult Q1 this fiscal year, this, the positive trend in EBITDA performance in subsequent quarters has offered ABC some relief, albeit not enough to offset the impact of inflationary cost pressures that we are incurring. With adjusted free cash flow for the quarter improving significantly to $600,000 from an adjusted free cash usage of $17.1 million in Q4 fiscal 2021, this quarter marked a key trend reversal after three consecutive quarters of lower year-over-year adjusted free cash flow. As you'll see in the final bar of the graph on the bottom left, adjusted free cash flow is -$46.2 million for the fiscal year. This is compared to adjusted free cash flow of $79.3 million for fiscal 2021. This deterioration was largely a carryover from Q1 cash usage at $60 million, as acute production cuts had a large impact on our working capital balances, an effect which has unwound to some degree over the course of fiscal 2022, but that we expect to continue into fiscal 2023 as production continues to become more normalized at our OEM customers. As we and many of our peers and customers have repeatedly referenced over the last three years, our business continues to be adversely impacted by a number of unfavorable market dynamics, including reduced production volumes at our OEM customers due to semiconductor chip shortages, inflationary pressures for cost, including labor, freight, utilities, resin, glass, rubber, paint, and steel, COVID-19 related demand imbalances and related supply chain disruptions. As you'll see from the graph on the top left of the slide, excluding the semiconductor shortage and other OEM production issues, management estimates revenue would have been about $30 million higher or $349 million in the quarter. Looking to the graph on the top right now, management further estimates that adjusted EBITDA would have been about $15 million higher or $31 million in Q4 fiscal 2022, were it not for the negative impact of cost inflation issues and production call-offs, primarily related to semiconductor shortage and other OEM production issues. Finally, I'll note for modeling purposes, again, that our reported revenue does not include JV revenue, but that adjusted EBITDA includes our 50% proportionate share of our JV's EBITDA. Likewise, the computation of adjusted EBITDA margin only includes 50% of the JV's revenue in the denominator. Because the JV is included in the income statement on the equity method basis, you need to refer to our MD&A to see the JV proportionate sales and adjusted EBITDA details. Our MD&A is filed on SEDAR and is also available on our investor website. Slide 12 shows the walk from cash from operations down to adjusted free cash flow for the year. For Q4, cash from operations was down slightly from last quarter due to lower EBITDA results, while other aspects of cash flow remained relatively steady for all four quarters of the year. As we mentioned earlier in the call, you can see the significant improvements since the beginning of the year in cash flow against the backdrop of a recovering customer volumes and normalization of working capital. On Slide 13, you will see details of our capital structure and liquidity. Our total liquidity position was $173 million as at the end of the year, which has remained strong throughout the volatility of this fiscal year. This level of liquidity provides ongoing flexibility for operations. As mentioned on our Q3 call, we increased the size of our credit facility to $550 million, extended its maturity by two years to February 2027 on all facilities except the $50 million Revolving Facility B and improved pricing. We remain fully compliant with all covenants under the amended credit agreement. As we previously mentioned, we maintained a high draw on our revolver due to lower levels of industry production, resulting in a temporary and expected increase in leverage. Management expects the leverage multiple to decline as we benefit from improved market dynamics and operational performance, the integration of our recent acquisitions and the proceeds of the sale of the Karl Etzel real estate. We expect these factors will allow us to pay down debt and return leverage levels below management's target goal of 3x. With that, I'll turn it back over to Terry for a few closing remarks. Terry? Thanks, David. To sum things up, what we've seen this year is conflicting dynamics playing out between the top line and the rest of the P&L. On the one hand, we're continuing to see improvement in some areas of production and top-line growth, helped by our recent acquisitions and demonstrated by our business wins through the year. While the overall dynamic of less frequent and fewer short notice production call-offs from our OEM customers in North America is still improving, in Europe, where we have smaller but still meaningful revenue representation, we're seeing things I'd say weaker as input costs have remained more elevated. On the other hand, as we look further down the P&L, you can start to see some of the operational macroeconomic challenges reflected through our compressed margins. We are acutely aware of the pivotal role that ABC's core operations play in enabling top-line strength to flow through the P&L. As we alluded to in earlier comments, we are aware of the challenges in our business, and we're implementing a variety of measures, controls, and actions that aim to improve operations, but that will require associated and necessary one-time expenses to Q1 and Q2 fiscal 2023. These actions in the near term are an important part of our medium and long-term plan. The overall long-term macro picture, at least for the auto market, remains strong as we've seen OEM customers continue to commit large dollars to future programs and consumers are buying every car that hits the dealer lots. We expect this trend will continue to positively impact our financial results in fiscal 2023 as production normalizes further. We signed another acquisition this quarter with Continental Automotive GmbH Washer Systems, building on the strategic moves we made earlier in the year with the acquisition of dlhBOWLES and Karl Etzel GmbH. We are continuing to look at further acquisition opportunities that will strengthen our business for the future and are expecting M&A to remain a focus for our team. As I said in my opening remarks, I'm excited for everything ahead of us, and we've got the right team in place to execute on the opportunities to grow ABC, strengthen our operations, and achieve financial results that exceed those of years past. That concludes our prepared remarks. Thank you, everyone, for listening and for your support. David and I are now happy to take questions. Thank you. We will now begin the question and answer session. To join the question queue, you may press star then one on your telephone keypad. You will hear a tone acknowledging your request. If you are using a speakerphone, please pick up your handset before pressing any keys. To withdraw your question, please press star then two. We will pause for a moment as callers join the queue. Our first question comes from Mark Neville of Scotiabank. Please go ahead. Hey, good morning, guys. Hi, congratulations, Terry. Maybe just my first question, I guess I'm just trying to understand the quarter-over-quarter decline in profitability. You know, if I look at slide 11, I think exogenous factors were comparable quarter-over-quarter. So again, just trying to get a better sense of what happened in fiscal Q4 versus fiscal Q3. We'll start there. Hey, Mark. W hat we still see is an intensifying impact from what those exogenous factors are in terms of the impact on the business. Y ou still see relative to virtually every cost and some of the impact on the business relative to inefficiencies caused still by freight and delays in terms of supply. It could be that really as far as the exogenous factors, that it could be the impact is a little bit higher. I do know the one other thing too that's certainly in there that we didn't list as an exogenous factor, more because it's related to the accounting for acquisitions, is there's about $5.5 or $6 million that went through the cost of goods sold as a result of some of the fair value adjustments that are pretty normal with acquisition accounting. So you did also have that impact that would add, as I say, $5.5-$6 million to what's listed in those lines. Can you maybe speak, to the performance of the Karl Etzel and dlhBOWLES in the quarter? Yeah, that what we're seeing with the dlhBOWLES acquisition, again, we'd known them for years before, and that they've been impacted to a certain extent by some of the sales reductions. But I think what we're seeing is we're seeing them operating much in line with what we expected. Apart from the impact of sales, they're having some impact from higher material costs. T he impact probably for Karl Etzel is different in that that they are more impacted by the conflict in Ukraine. As all suppliers really that we're seeing in Europe, they're being significantly impacted by energy costs, as well as the production costs. W hat we've seen from the customers there have been higher. While I think long term, we certainly believe all these businesses are really strong and gonna deliver what we expected, I think there are some short-term factors that really impacted our Q4. We think they're temporary and should abate as some of the things, particularly the energy crisis in Europe, gets solved. Right. Those acute factors at Karl Etzel, the production costs and energy, would that have been sort of adjusted for, or is that part of the exogenous cost at this point? I generally think it wasn't adjusted for. It could be capturing the exogenous factors. Again, kind of, nailing down all of that, I think there's a bit of art in there as well as science. I think that certainly some of the inefficiencies and some of the things as it relates to energy costs probably are not fully contemplated in the exogenous factors that we've got listed there. I think the other thing too that you do see is still there's a lot of inefficiency in terms of managing the workforce that has these other stranded costs that still has it where the businesses aren't operating as efficiently as they should. Got it. Maybe just one last question. Just, you mentioned some one-time expenses in the first half. Maybe you can just quantify that or if you could? Sorry, Mark. In terms of one term expenses in the first half of... Can you just clarify the question, please? Yeah, sure. The coming fiscal first half, you spoke to some one-time expenses related to some of the actions you're taking. Yeah. C ertainly as you'd expect with a CEO transition, that we're looking at the way the organization is set up and there are some things that we haven't fully completed yet, but I think that you'll see as a result of trying to make the organization leaner, more customer-focused, more product-focused. That's the direction that Terry was mentioning that we're going in. Maybe, Terry, you'll wanna add a few points to that. Yeah. I t 's a great question. Thank you for your comments earlier, Mark. Yeah, our customer is changing, so we have to change. We're trying to align our operating strategy and our operating model to be more efficient and nimble, especially with the way the market's changing and how quickly it's changing. We're trying to implement a model that we think is gonna allow us to change and pivot accordingly, manage our costs, and continue to drive some efficiencies with better efficiencies within our business enterprise-wide. Got it. Do you have a rough estimate of what some of the costs are gonna be for the first half? At this point, we don't. It's ongoing. We're doing a you know a enterprise-wide evaluation. We're looking at all aspects of our business in terms of you know where we think there is opportunity to better align with you know our product and customer focus and create more efficiencies and obviously try and lower some costs in the business to offset some of these pressures that we're facing today. Got it. I would hope by the end of the quarter or the next call, we'll be able to talk more about it. Appreciate it. Thanks again for the time. Thank you. Our next question comes from Ryan Brinkman of J.P. Morgan. Please go ahead. Hi. Thanks for taking my questions. R elative to the lower margin resulting from cost inflation, how much would you say stems from commodities? I read in the release you called out resin, glass, rubber, and steel versus how much would you say stems from other costs, like you called out in the release, freight and labor. Maybe just a couple other questions around that, including is it fair to say that your commodity pass-through arrangements relate primarily to resin? Do you have any pass-through mechanisms for glass, rubber or steel? How would you say that those pass-through mechanisms or negotiations are progressing to recover commodity costs? Then separately, I think no supplier today has pass-throughs for freight or labor, which must be accomplished only through negotiations. Do you expect to be able to offset these costs also via higher pricing, and over what timeframe? Do higher non-commodity supply chain costs maybe need to be more offset via your own productivity, cost saves, operating leverage, et cetera, as opposed to customer pricing? Well, Ryan, let me see if I can unpack all of that. I do think ABC is certainly a very critical supplier to our customers. We've sat down and we're having discussions with them, and we are really talking about the full gamut of the impact of these significant inflationary costs on our business. I'd say that we haven't limited it. I n past discussions we said that we roughly have hedging mechanisms for resin of about 50%. What's happened on the increased cost on resin are significant to that. It's that part is uncovered. There are some other things that we buy, but it's not glass, it's not paint. There's some electronic components where there's a bit of a pass-through arrangement. That's really not what we're talking about. What we are seeing is it is the glass, it's the fiber, it's the glue, it's the paper. As you suggested, a lot of those things are unprotected. As I say, we are doing the fulsome discussion with the customers to look at the full gamut. I would say we've been at it for a while. I think there's a bit of a process. There's a back and forth. There's a sharing of information so that, so that the customers can understand and validate what the requests are. I think that one of the things ABC had done a really good job with is being prepared to help the customer understand where these costs are and how they impact the business. Because I do think largely this is a partnership, and I think that understanding how these costs have affected us is very important to them. W e're in the middle of it. I think there's probably still some time to go to get through to the conclusion. I know that we're keen to kind of accelerate these so that they don't linger, and that we can all move on with the business. I know, Terry, you may have some impact that you wanna put or discuss how you're thinking about that. Yeah. No, I think you captured it very well, David. I mean, these are long, complex, difficult discussions we're having with our customer. You know, we're being transparent in terms of the burdens that we're incurring here in our business and the challenges we're incurring. We're working with them closely. We're gonna continue to work with them closely. S ome of these pricing pressures that we have based on the inflationary impact or the impact to our resins and other costs in our business, they're just not sustainable. These are discussions that we're gonna stay at the table, and we're gonna work hard at figuring out a way forward that makes sense for both, ABC and the customer. I can't emphasize enough that these are very complex, difficult discussions. Some parts of our business, some of our larger programs, if we don't come up with a solution then, it's gonna drive some difficult decisions that I think. We're prepared to make those difficult decisions because, again, some of these pressures that are on our business and that are hitting our pricing and our cost models are just not sustainable as we move forward. I am encouraged with the customer. They're listening. They're working with us. We have some further discussions on the horizon with them. We're gonna continue to work hard to come up with a solution that obviously you know mitigates some of the current state of our business. Okay, thanks. Just as a follow-up to that, when you say you're ready to make difficult decisions does that entail more like we don't wanna re-up this contract or more like we're not gonna ship parts as per the existing contract? Yeah. We're always gonna ship parts. T hat's the kind of supplier we are. We're not gonna get into that discussion. W e're gonna have to. I f we have programs that are underwater and they're not sustainable, we're gonna have to find alternative measures to help the customer support those demands. It may not be ABC, that's not our intent. Our intent is to continue to grow with the customer. It's a very difficult time right now and you know, we're prepared to make the decisions that we think are in the best interest of the shareholders and the company. Okay. That's very helpful. Thank you. While you continue to not guide, given obviously the uncertain industry and macro backdrop, are there any guideposts or parameters that you might be able or willing to provide for how you are thinking about how ABC performance could track in fiscal 2023 should the industry or macro play out in a certain way? For example, while visibility into future trends in production and commodity prices remain low, if we were to assume that, say, production tracks in line with IHS expectations and that resin and other commodity prices remain flat versus today's latest spot prices, how might you expect ABCT pro forma revenue or EBITDA to track, in that scenario? Ryan, I think the subject of guidance for us is very important, and we understand how important it is to you. I think what we like to do is when we feel like the ground is a little bit more firm, we would expect to come back with guidance. We're hoping that's in a quarter very near in the very near future. I think at the moment, we just don't feel like the ground is secure enough yet to do anything that would be other than wildly speculative. Some of these things with respect to volume, I think it begins getting clarified in some of these things with respect to customer recovery. As those get clarified, I think those would be some significant milestones where then we'd be able to go back to giving guidance. I think that's still at least a quarter away. Okay. Got it. Thanks. Maybe just finally, I see on slide 15, you mentioned that Europe remains less predictable than call out energy costs there. I know a minority of suppliers such as Aptiv have recently called out downside risk to IHS and consensus expectations for this region. What is your outlook for Europe, which you know, matters more to you than before? Does it differ materially from IHS? W e are looking at the IHS constantly, but I think we feel like the customer risks we have has a maybe a good strong correlation to what we built into our plans and budgets. I think that as far as discounting from IHS, that's something we always look at, but we feel like there's a strong link there. Very helpful. Thank you. Our next question comes from Peter Sklar of BMO Capital Markets. Please go ahead. Hi. Good morning. Bottom line on this lengthy discussion we're having this morning on the commercial negotiations you're having with your customers. Like, bottom line, when do you think there could be a resolution where we would see a notable or we would notice an improvement in your financial results? It certainly sounds like it's not going to be Q1. Is it something we could see in the subsequent quarters of this year? Are these going to be lengthy negotiations? A s we think about it, right, these are critical relationships to us. I think it's gonna take the time it's gonna take. We are certainly cognizant of the fact that we don't want them to linger, and we think it's in the interest of all parties if we move through it expeditiously. I can tell you the conversations are happening in real-time. There's no significant delays. It could be a Q1, but given that we're sort of 28 days to go, I think the better play is to think that maybe it's more of a Q2 impact for us. I can tell you they're critical relationships. I think they're sensitive. We wanna make sure that we deal with the facts, information, and be very respectful all the way around. It's gonna take the amount of time it's gonna take. I think that as I say, we're in the middle of it. There's been a lot of information exchanged, a lot of discussions had. And again, I feel like given where we are, it's probably more of a Q2 event than a Q1. The nature of these discussions you're having is, has any of it involved a retroactive adjustment or is any, hopefully any pricing adjustments going to be prospective going forward? Peter, we know that there are a lot of suppliers are having discussions. I think that until you get to the point where you start to have settlement discussions, it could be anything. I think it's really hard to predict where the conversation will go. I think that from what you heard from our industry sources, it could be any number of solutions. That could be retro, but it could be that there's something else. I think that anything that we discuss with you at this point in time would be quite speculative. W e just say that we're gonna have a professional and respectful conversation with the customer and that could be part of it. W e need to wait and see kind of what the offer is and how things worked out with us in terms of what we can accept. Okay. Switching gears here, Terry, I have a strategic question for you. As I listen to you talk this morning the company is facing significant and complex issues. Some of them, like maybe the volumes will recover, maybe you'll get some cost recovery. A lot of these issues are not gonna go away in the near term and may never go away. At the same time, as you can see, the business is significantly underperforming from a financial point of view, even well below your expectations. I'm just wondering, like, based on your commentary, you've done these three acquisitions, the third one being announced today. You said the company is very focused on further acquisitions. Given the complexity and the underperformance of the business, don't you think this would be a time to be focusing internally on your existing operations, making the necessary changes so that you can be successful in the current operating environment? Just surprised that you're so focused on M&A in a, in a time when the business is so challenging. I'd like to hear your comments on that, you know, on what I just talked about. Yeah, no, it's a great question. I wish I would emphasize more on the internal efforts as well. Yes, M&A is very important as we sort of move forward. In parallel, we're undertaking a significant amount of exercises to reassess our business, reposition our business. If you look at it historically, it's been a business that's it's been a family-run business. It's been growing organically. It's been a leader in North America. If you look today, in terms of what we're trying to do, you know, we're trying to expand our customer base. We're trying to become a more global organization, and obviously, the M&A is gonna help us with that. B ased on the current state of business and the challenges that we're dealing with, especially COVID, and the semiconductor, and the inflationary pressures, just to name a few, you know, we're gonna have to make different choices on how we run our business moving forward. A s we sort of manage and, through these different types of challenges, it's gonna be something that's gonna require the right subject matter expertise and the right team to sort of implement and drive those improvements. I f you go back and my experience in the industry has been dealing with very similar situations. In my previous life, I came out of, you know, JCI and Magna. I dealt with quite a few underperforming situations and that took a realignment of the business model. We are creating. We are looking at implementing a new operating model that's gonna be focused, it's gonna be much leaner. It's gonna be a much better focus on the customer and product strategies. A t the same time, it's hopefully going to create the efficiencies that we know are necessary to sort of create that competitive advantage when it comes to cost structure. You know, what I... Unfortunately, I'll probably get into more detail in the next quarter because we're sort of... We're talking real time right now with a variety of actions that we're looking at and prepared to undertake in the next several weeks and months. I can tell you that we're serious about the measures we know are necessary, and we're prepared to invoke them. Terry, you come from given your backdrop, you come from various different types of auto parts manufacturing. G iven your time now at ABC, is there anything specific about plastic injection molding and your business that's particularly challenging relative to other kinds of auto parts manufacturing? Like, the obvious one that comes to mind is you don't have full protection on your resin. You have about, sounds like about half. I believe you're saying half your procurement is protected through customer programs. Is there anything unique about plastic injection molding that makes it particularly challenging? E ven prior to me coming here, ABC was pivoting somewhat relative to being formerly more of a component supplier to a more system integrator. As you look at their product portfolio and how it's starting to, the strategic approach they're taking, I want to continue with that strategic approach because that's where the value add really comes in. My experience is in the interior space and the powertrain space. The OEMs are definitely looking for suppliers that can be more system integrators versus a component level. From a product portfolio strategy standpoint, you know, I wanna continue to figure out ways to accelerate what ABC has been doing historically, and try and figure out ways to do take bigger steps there. That ties into our M&A strategy as well, where we wanna make sure that we look at some of the technologies relative to process and product. We wanna make sure they're additive to our respective portfolios. I like what they're doing, I wanna continue to do and enhance and grow what those strategies in place today are. I think it lines up to, you know, what the customer's looking for, relative to a stable supply base. Now, the other thing I'm trying to do here as well is, you know, relative to the operating model we're trying to set it up to where we become more of a customer-friendly business model. It's easier to do business with us relative to, you know, applications engineering, our quality, our operational excellence. A very significant focus right now on launch excellence, operational excellence, and the customer experience. That's where I'm really putting a lot of emphasis with the leadership team in terms of rolling out this new operating model. The operating model actually aligns with the operating models that you would see in the OEM. That's what makes it easier to do business with ABC going forward. Okay, thank you for your comments. Thank you. Once again, if you have a question, please press star then one. Our next question comes from Brian Morrison of TD Securities. Please go ahead. Good morning. Thank you. Just a couple follow-up questions. It sounds like your peers have had some early success with respect to pass-through on or customer recovery on inflationary costs. It sounds like you're a little bit more downbeat. I understand it's, you know, quite complex, the negotiations. Like, have you achieved any success to date, or are you sort of a laggard relative to your peers? Then the second part of the question that I have is, you've been quite successful or very impressive in winning new contracts in recent quarters. I'm wondering, are there provisions within these contracts that account for the headwinds that you're facing right now, or are they also subject to inflationary pressures? Well, I think that one of the things that I might say we were a little bit late to start relative to the discussions with customers. W e really took pride in being a good supplier and offsetting the impact of the inflation. W e had some light discussions, but I think that we've sort of decided that given the severity of what's happening here, that we needed to ramp up our efforts. I'd say a little bit late, but in the discussions, we've also looked at the business that we've quoted and won. There's Some of it has some automatic mechanisms that are already provided for, but as part of the discussions we're having, if anything doesn't have the protection built into it and is a future launch, those are included in the discussion. Okay. Many of my questions have been answered, but I'll follow up with, in terms of the acquisitions, Peter makes a very good point about moving forward with the state of the current operations, but maybe you could just provide some metrics with respect to the washer system acquisition from Continental in terms of annual sales and what the EBITDA multiple could be, please? Nathan, can you jump in and just. Yeah. -just give our- Yeah, sure, Brian. Yeah. Unfortunately, just given the antitrust regulations around the deal, we can't really say much until the transaction's closed, which we expect to occur in the next quarter. I can't give you a lot right now, unfortunately, but we also, you know, have not closed the transaction. At the time that we do, we'll tell you more. All right. Thank you very much, guys. This concludes the question and answer session and today's conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.