Good morning, ladies and gentlemen, and welcome to the Columbus McKinnon first quarter 2027 earnings teleconference and webcast. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. I would now like to turn the conference call over to Kristy Moser, VP, Investor Relations and Treasurer. Please go ahead. Thank you, and welcome, everyone, to our call. On today's call, we will be covering our first quarter fiscal 2027 financial and operational results. On the call with me today are David Wilson, our President and Chief Executive Officer, and John Linker, our Chief Financial Officer. Welcome, John. In a moment, John and David will walk you through our financial and operating performance for the quarter. The earnings release and presentation to supplement today's call are available for download on our investor relations website at investors.cmco.com. Before we begin our remarks, please let me remind you that we have our safe harbor statement on slide two. During the course of this call, management may make forward-looking statements in regards to our current plans, beliefs, and expectations. These statements are not guarantees for future performance and are subject to a number of risks and uncertainties and other factors that can cause actual results and events to differ materially from the results and events contemplated by these forward-looking statements. I'd like to remind you that management will refer to certain non-GAAP financial measures. You can find reconciliations to the most directly comparable GAAP financial measures on the company's investor relations website and in its filings with the Securities and Exchange Commission. Please see our earnings release and our filings with the Securities and Exchange Commission for more information. Also on today's call, we will make references to pro forma metrics, which adjust for both the Kito Crosby acquisition and the divestiture of the legacy Columbus McKinnon U.S. Power Chain hoist and chain operations as if each transaction had been completed prior to the beginning of the prior year period to improve the comparability of results across time spans. Today's prepared remarks will be followed by a question and answer session. We respectfully ask that you limit yourself to one question and one follow-up. With that, I'll turn the call over to David. Thank you, Kristy, good morning, everyone. We are off to a strong start in fiscal 2027. Q1 was our first full quarter operating as a combined company following the Kito Crosby acquisition, the team delivered a solid performance across orders, sales, profitability, and cash flow. Pro forma sales grew 10% with broad-based growth across all platforms. We continue to advance our strategic priorities, operational excellence, commercial effectiveness, and customer experience, these initiatives are improving our competitiveness and strengthening our foundation for sustainable growth. Volumes are building in the Americas and Asia Pacific, while EMEA remains softer in the near term, consistent with what we're seeing in PMI and industrial production data. Our end market exposure is diversified, we're seeing particular strength in targeted verticals, including defense, infrastructure, energy, e-commerce, data center, shipbuilding, electrification, and pharma, as well as the broader automation and general industrial markets in North America. We are also seeing increased activity in oil and gas, some of which is related to the conflict in the Middle East. Automotive demand has been spotty general industrial demand in pockets of EMEA remains soft as previously shared. Our scaled platform, enhanced customer value proposition, business initiatives are driving market share gains in targeted segments. This growth is also supported by ongoing commercial initiatives early revenue synergy wins. We continue to see elevated input costs given the macroeconomic and supply chain environment. Our supply chain has remained resilient, we've been effective in implementing pricing actions to offset unavoidable inflationary pressure. Over the long term, we've demonstrated consistent pricing discipline, we remain confident in our ability to secure price where required. Adjusted EBITDA of $111.5 Million increased 242% with adjusted EBITDA margin of 21%. When normalizing for the impacts of the acquisition and divestiture in the prior year period, Q1 adjusted EBITDA margins expanded approximately 300 basis points. Adjusted EPS grew $0.11 to $0.61 from the prior year period on an as-reported basis. We delivered positive Q1 free cash flow for the first time in six years versus what has been a typical seasonal cash outflow, enabling us to reduce debt in the quarter, our top capital allocation priority. These results exceeded our expectations, driven by strong execution, favorable demand dynamics, some cost benefits specific to the quarter. I want to thank our more than 7,000 global team members for their dedication disciplined execution throughout the quarter. Given our strong start to the year, today we are raising our sales, adjusted EBITDA, adjusted EPS outlooks for fiscal 2027. We will talk you through those details shortly. Overall, we're pleased with the quarter with how the team has remained nimble in the face of unique business conditions. We also remain encouraged by the opportunities in this market focused on delivering to our near-term commitments while positioning the company for long-term success. Underlying demand signals, particularly in the U.S., support the durability of our momentum. Strong order growth a healthy backlog position as well. Our outlook continues to reflect a level of uncertainty given the environment in EMEA. On the integration front, we are making meaningful progress, bringing our teams together and aligning people, processes, and systems. Although we are still early in the journey, the combined organization is operating effectively as one team, and we are moving quickly to capture synergies. We have executed initiatives that should position us to outperform our synergy target for the year, and these early wins reinforce our conviction for achieving and potentially exceeding our $70 million net annual run rate cost synergy target over time. First-year cost synergies will be weighted towards SG&A, driven by organizational realignment, the removal of redundancies, the elimination of duplicate third-party spend, and contract harmonization. As previously shared, we also see significant potential for future cost of goods sold synergies. We are advancing plans to capture revenue synergies, and early wins give us confidence that this will be additive to organic growth. Fully realizing the opportunity will take time as we align resources and integrate technology and sales processes. We continue to believe revenue synergies will be a meaningful tailwind over time. We are demonstrating our ability to execute effectively, and our value creation opportunities remain largely within our control. We are advancing our integration plans and building momentum to deliver sustained organic growth, capture synergies, generate cash, and reduce debt, unlocking substantial long-term value for all stakeholders. Now, I'm pleased to introduce you to our new Chief Financial Officer, John Linker, who joined the company earlier this month. John is a proven leader with extensive financial leadership experience, expertise in global industrial manufacturing environments, and a consistent track record of delivering impactful results with a focus on profitable growth, operational performance, and successful integrations. Since joining a few weeks ago, John quickly immersed himself in our business and began contributing meaningfully. We're excited to have John on board as we continue executing our value creation strategy on behalf of our shareholders, customers, and employees. With that, I'll turn the call over to John to walk us through our first quarter results. Thank you, David, and good morning, everyone. Before we get into our results, I'd like to take a moment to share some initial observations. I'm thrilled to join the company as Chief Financial Officer, and I'm pleased to be participating in my first earnings call at Columbus McKinnon. Over the last several weeks, I've had the opportunity to meet with our leaders and board, engage with employees across the organization, spend time in our manufacturing facilities, and gain a deeper understanding of our strategy and culture. What has impressed me the most is the strength of our platform, our talented and engaged people, and an unrelenting focus on our customers that is visible throughout the organization. While I'm still very early in my tenure, my initial observations reinforce my confidence in the company's existing strategy, disciplined operating approach, and long-term value creation potential. The fundamentals of the business are strong, and I believe we are well-positioned to execute on our priorities and deliver sustainable growth, margin expansion, and free cash flow generation. Our capital allocation priorities remain unchanged, with a near-term focus on debt reduction and deleveraging. I look forward to engaging with many of you in the investment community in the coming months and building strong relationships over time. Turning to the quarter, we delivered strong Q1 results reflecting disciplined execution. Results reflect the first full quarter following the close of the Kito Crosby acquisition on February third and the divestiture of our U.S. power chain hoist and chain operations on March fourth. As I talk about our results and outlook today, I will touch on the impact of the acquisition as well as the performance of our legacy business. Please note that as we further integrate and realize synergies, we'll be focused on maximizing the performance of the consolidated business, and as a result, comparability of the legacy companies will become less relevant. Orders of $568.1 million increased $309.6 million or 120% from the prior year, largely driven by the benefit of the Kito Crosby acquisition. Normalizing for the acquisition and divestiture, pro forma orders growth was approximately 9% and was broad-based across platforms, with particular strength in the Americas as well as in APAC. EMEA orders declined year-over-year due to geopolitical and macroeconomic uncertainty, as well as a tough comp from strong orders in EMEA's rail business in the prior year. On the legacy CMCO side, U.S. orders grew in the low teens, driven by strength in automation and short-cycle lifting products. Backlog grew 4% sequentially due to strong orders with a book-to-bill of 1.1x in the first quarter. We delivered net sales of $531.5 million, which increased $295.5 million or 125% from the prior year. Driven by the acquisition of Kito Crosby, volume, pricing, and favorable currency translation, partially offset by the divestiture. Sales growth was broad-based, with high single-digit percentage growth in the legacy Kito Crosby portfolio and low teens growth in the legacy CMCO portfolio. Normalizing for both the acquisition and divestiture, pro forma sales growth was 10%. Sales growth was strongest in the Americas, with growth in both volume and pricing. EMEA grew sales as we executed on our backlog and took advantage of temporarily open shipping lanes in the Middle East at the end of the quarter. On a pro forma basis, project-related sales increased 12%, and short cycle sales increased 9%, with benefits from both pricing and volume growth from a favorable demand environment. Channel inventory levels are healthy, returning to near normal levels, but remain slightly below historical averages. On the pricing side, the strongest realization was in the Americas through the price increases implemented in fiscal 2026 to offset inflation and tariffs. We've recently taken additional pricing actions across the combined business in multiple regions to offset inflation, and we expect the benefits of pricing to ramp up in the second half of the year. Gross profit of $146.3 million increased $69 million or 89% versus the prior year on a GAAP basis, reflecting the Kito Crosby acquisition, pricing, and volume, as well as benefits to material costs specific to the quarter, partially offset by the $55.2 million non-cash inventory step-up expense, the impact of the divestiture, and inflation in COGS. On a GAAP basis, our gross margin was 27.5%, and on an adjusted basis, our gross margin was 38.1%. Adjusted gross margin, which removes the impact of the inventory step-up and acquisition integration costs, improved 380 basis points year-over-year. Our SG&A expenses increased $64.5 million to $128.6 million on a GAAP basis due to the addition of Kito Crosby, higher integration costs, and increased incentive compensation expense, partially offset by cost-saving synergies. Adjusted RSG&A, which excludes acquisition integration costs and other one-time expenses, increased by $57.1 million to $111.9 million. As a percentage of sales, adjusted RSG&A declined 220 basis points to 21.1%, driven by scale benefits from the acquisition and cost synergy realization. Adjusted EBITDA of $111.5 million increased $78.9 million or 242%, with an adjusted EBITDA margin of 21.0%. Adjusted EBITDA margin expanded 720 basis points year-over-year. Net loss in the quarter was $88.4 million or $2.05 per share on a GAAP basis. The loss was primarily due to the non-cash inventory step-up amortization, interest expense, and integration costs. Adjusted net income was $30.5 million or $0.61 a share, up $0.11 from the prior year, primarily driven by operating profit increases already discussed, partially offset by higher interest expense and a higher share count due to the inclusion of the common shares issuable upon conversion of the preferred shares. Free cash flow excluding deal costs in the quarter was $32.4 million, up $49.7 million from the prior year, reflecting higher operating profit, partially offset by higher cash interest. Normalizing for the non-cash inventory step-up adjustment, working capital was a use of cash in the quarter, as is typical for us in Q1. However, the use of cash was approximately $20 million better than the first quarter last year. We paid down $18.4 million in debt in the quarter and reduced our credit agreement net leverage ratio by 0.2x to 4.9x. Debt reduction continues to be our priority for capital allocation. Our total liquidity remains strong at $567.1 million, consisting of $98.4 million of cash and cash equivalents and $468.7 million of availability on our revolving credit facility. Given our strong Q1 results and increasing confidence in the year, we are raising our outlook for fiscal 2027. Our revised guidance also reflects unfavorable foreign exchange movements impacting both sales and adjusted EBITDA, as well as continued near-term demand headwinds in EMEA. Our increased outlook for fiscal 2027 is net sales of $2.09 billion-$2.15 billion, adjusted EBITDA of $405 million-$420 million, and adjusted EPS of $1.90-$2.10 per share. There have been no changes to our outlook assumptions around interest expense, amortization, depreciation, our normalized effective tax rate, and adjusted diluted share count. While we don't guide on a quarterly basis, I will call out a few points regarding the shape of the year. First, we do not expect the cost benefits recognized in Q1 to continue through the rest of the year. Additionally, based on our backlog and the phasing of our project orders, we expect Q2 to be the low point for the year in sales and adjusted EBITDA. Following Q2, we expect margins to sequentially improve through the second half of the year as we realize the benefits of synergies, operational efficiencies, and pricing. I am encouraged by our recent results and progress on our integration, and I believe in our ability to deliver both customer and shareholder value as a scaled provider of intelligent motion solutions. Our strategy will unlock multiple avenues of growth, improve our margin profile, and generate significant free cash flow to fund debt reduction. Operator, we're now ready to take questions. Thank you. Ladies and gentlemen, we will now begin the question and answer session. Should you have a question, you may press star one on your telephone keypad. Should you wish to withdraw your question, you may press star two. Once again, that is star one should you wish to ask a question. Your first question is from Matt Summerville from D.A. Davidson. Your line is now open. Yes. Thank you. Couple questions. First, I realize there may be a little bit of sensitivity here, but is there any way to frame up how we should be thinking about these sort of non-recurring or one-time benefits you had in the quarter, either the impact to gross margin, the impact to EBITDA? I would assume none of what you enjoyed in the quarter was contemplated in your guidance. Maybe ultimately the question could be, how much of the guide raise was really driven by those factors? Bearing that in mind, it'd be great to get some help as to how gross margins cadenced relative to that low point in Q2 building through the rest of the year. Then I have a follow-up. Thanks, Matt. Good morning. This is John speaking. Sure. I'll put some color around the material cost benefits first. There were some net benefits that we saw in the quarter. Some of that was indeed IEEPA refunds that came in very late in the quarter, so that was not contemplated or known at the time of our last call. There's also some other moving pieces in the material cost line this quarter. There was some other puts and takes in reserves. All that did net to a benefit in the quarter. We're not going to disclose the portion of the benefit related to the tariff refunds as we feel that's commercially sensitive. What I will say is this, David said in his prepared remarks that the business on a pro forma basis expanded margins about 300 basis points year-over-year, normalizing for the acquisition and divestiture. If you exclude out sort of this benefit we got in Q1, the core business still expanded EBITDA margins by about 100 basis points in the quarter. We're calling it about 200 basis points of the 300 basis points was related to this one time or the benefit specific to the quarter. As noted, we don't expect any more benefit from that in the rest of the year. There were some other pieces of your question there in terms of the cadence of the year. Do you want to comment on the comments? Yeah. I'll jump in, Matt. Good morning, Matt. Additionally as we think about the guide and the raise, items driving the guidance raise include the fact that demand has been more encouraging than we originally anticipated when we gave the guidance. We saw really strong short cycle demand through the end of the quarter. We also had the benefit in Q1 of the temporary opening of the Strait of Hormuz, which really helped us to move more product into the Middle East and stepped up our results in the quarter. That, obviously we want to translate that into our full year view. We are benefiting from improved execution and really for the first time since the closing of the acquisition, got to see the benefits of synergy realization coming through in the P&L. That increased visibility gave us increased confidence in the way that we thought about our guide going forward. Finally, as John said, those material cost benefits that were specific to the quarter weren't anticipated when we originally provided the guidance. As we think about Q2 through Q4 and the progression with gross margins, just simply given the backlog and the phasing of the backlog as we think about composition and the period going forward, Q2 will be the low point for the year, and we anticipate that margins will benefit as we go through the balance of the year from synergy improvements, synergy realization, both on the COGS line as well as in SG&A. Again, this year it'll be largely an SG&A benefit for the business. Then the benefits of pricing actions that we've put in place. A combination of those items and improved operational execution should result in a ramp as we go throughout the balance of the year in gross margins with that low point being Q2. Does that answer the question, Matt? Yes. That's helpful. Just as a follow-up, maybe just talk a little bit more on how short cycle orders may be cadenced throughout the quarter, what you're seeing in July now that it's essentially in the books, and then how much price benefit we should expect you guys to see this year. Thank you. Thanks, Matt. As far as the progression of short cycle orders, we did see an uptick in short cycle demand as we progressed throughout the quarter. Demand on the short cycle side of the business was increasing as we went throughout the quarter. We did have some price increases that went into effect towards the end of the quarter, and we think there was some buying ahead of those price increases, which is a very normal phenomenon. Nothing that's outside of the normal range when you have a price increase, but that did drive incremental demand in the latter part of the quarter. On a quarter to date basis, we are seeing demand in short cycle business up in the low single digits on a quarter to date basis so far this quarter. As it relates to pricing, and we think about pricing as we go forward through the balance of the year, we would anticipate that we'll be lapping some price benefits that we were getting last year because we were seeing the late-stage benefits of those year-over-year increases. Now that we're lapping those increases on a year-over-year basis go away, and then new increases are coming into effect. I would say that we would anticipate that they will progress as we move throughout the year. Putting a frame around that right now is not something that we're prepared to do. I would anticipate for the year, we'll still see something on the 1%-2% price increase total. Understood. Thanks, David. Thank you. Our next question is from Jon Tanwanteng from CJS Securities. Your line is now open. Hi, this is Will on for Jon. Can you quantify or add some more color around the synergy realization you saw in the quarter, and if your targets and speed of realization are increasing? Yeah. We made good progress on a number of fronts, organizational alignment, bringing the teams together, getting really focused on a common set of organizational values and mission and vision, driving cultural alignment. We also had good work that was done in the early stages of contract harmonization and third-party cost savings. We're gaining traction on key initiatives that are maybe a little longer in terms of implementation timeframe, but will have meaningful impacts over time. As I said, really for the first time, as we're closing our first full quarter together, we're able to really see those benefits get measured in the P&L. It's one thing to action a synergy, it's another thing to really see the financial benefits flowing through. We're really encouraged by what we're seeing and how things are flowing through. As I said in my prepared remarks, I anticipate we'll be able to potentially outpace our plans, but we're not increasing our guidance at this point tied to synergy realization. Our current guidance would reflect what we would be prepared to offer in terms of what we'll see from those improved benefits. Certainly, our view of this is increasing in confidence as we think about our multi-year plans and what we'll deliver over time. I'll just add that in terms of what we saw in the quarter, as the year progresses, most of these synergies so far are benefiting SG&A. You can see that in some of the numbers I referenced in my remarks in terms of the year-over-year percent of sales. We're seeing some nice benefit on SG&A, we would expect the COGS-related synergies to pick up steam as the execution continues and benefit later in the year and future years. That is very helpful. Thank you. Just one more. You had some push outs last quarter in the Precision Conveyance business. Did that revenue come in Q1, and what's the expectation going forward? Right. No, the project-related delays that we mentioned at the end of last quarter did not materialize in shipments that we saw coming through in this quarter. Those projects remain in backlog and are still opportunities for us as we advance throughout this year and into next. Thank you. Thank you. Our next question is from James Kirby from JPMorgan. Your line is now open. Hey, good morning, guys. Thanks for the time. Just starting on the free cash flow side. Clearly, I'm sitting at step up over what the seasonal Q1 is. Can you just maybe talk about the working capital driver there, if that is sustainable, and maybe if you could reconfirm the deleveraging timeline, which was, I believe, under 4x by the end of year two? Yes. Confirming that we still feel very good about the deleveraging profile of the business in terms of what we expect to see in the next few quarters and into fiscal 2028. Yes, we continue to stay below 4x by fiscal 2028. In the quarter itself, we did see some, as you're noting, some improved efficiencies on working capital year-over-year. I'd say most of that was on the inventory side. I still see opportunity on the DSO/DPO side. That's more to come as opposed to in the numbers. I'd say CapEx was maybe a little lighter than our original expectations for the quarter, and that helped the cash flow a bit. Obviously, the benefit of some of these material costs that I referenced that benefited the P&L. Some of that did flow through to cash as well, given that there was some refund activity in the quarter. Thanks, John. That's helpful. Just looking at the stand-alone businesses, it looks like Columbus McKinnon grew low double-digit sales. Kito, from my math, grew high single digits. Is that consistent with where you guys saw the businesses operating, let's call it one quarter or two quarters ago, when you guys were contemplating synergies here? Is that more macro-driven, or is there an operational improvement embedded in where you guys are operating at these levels right now? Thanks, James. As you look back at the history of both companies, neither company was growing on a combined basis or on an individual basis at those same rates as we look back a couple of quarters or into the last couple of years. I do believe that the combination of our two businesses provides us with opportunities As we're looking at both cross-selling as well as market share opportunities, increasing share of wallet through better customer service, more streamlined approach. I think there is an embedded value that the combination of the two businesses can realize. I would say that our high degree of focus, as we've talked about in the past, is on customer experience and improving operational performance to support our customer outcomes. We've remained both focused on our customers from an improvement within our own core operations perspective, but also from a customer-facing resources perspective, doing everything we can to make sure that we're being responsive and being supportive and limiting the disruption on that front. I think that is starting to pay dividends, and we're encouraged by the demand environment that we're in right now. Notably in the Americas and in Asia, with some continued softness in Europe. We're hopeful that as the Middle East settles out, things will start to improve there, and we'll have even more opportunity across the global landscape. Got it. Thank you. Thank you, ladies and gentlemen. Once again, that is star one should you wish to ask a question. Your next question is from Steve Ferazani from Sidoti. Your line is now open. Morning, David. Welcome, John. A lot of math here I'm trying to work through, David, and that's not my strong point. When I think about the 21% EBITDA margin, and you said you got about 100 basis points specific to the quarter, so that puts it around 20%. If I take the midpoint of your adjusted EBITDA and sales guidance for the year, you're guiding for a full year at 19.5%, but you've talked about the price increases, the synergy realization. Why would it be lower full year? Steve, it's John. I'll jump in. I think your math is pretty good so far. You're right. The midpoint of the guide is 19.5%, and then we were at 21% in Q1, so that would imply the year to go or rest of year is below that. I think the math at the midpoint is around 18.9% for the rest of the year. There are some moving pieces in there. There's some FX that I mentioned early in the call that relative to our last guide, that is a headwind. It's order of magnitude, about 30 basis points of headwind that we see for each quarter for the rest of the year relative to our last outlook. I'd say also the EMEA piece that we called out early in the call that the orders were down year-over-year in Q1. In Q2, we expect to see some sales softness in EMEA, which has sort of a knock-on effect of de-leveraging on margin and unabsorbed overhead there. You got a little bit of pressure. Then of course, as we mentioned, we got hopefully some pricing upside coming in the back half of the year. In general, I'd say we flowed through some of the benefits from the cost from Q1 into the full-year guide. We hope that there's upside in all of this, and at this point in the year, we feel like we had a good quarter. We want to wait and see how things progress a little bit, and hopefully, there'll be some upside to what we're talking about from a margin standpoint. Got it. That's helpful. Helpful that you restated your net leverage target. I'm just trying to think about as you've gotten a better handle on the Kito Crosby assets that you've acquired. When you're looking at them now, are there any portion of that that maybe you want to ramp up investments that might drive higher CapEx as a percent of sales above traditional because you think some of those assets maybe are under-invested or there's improvements you can make? It's a good question, Steve. Good morning. In terms of the investment profile, I would say that we still think that we're within our CapEx outlook for the year as we think about our CapEx spend, as we anticipate progression throughout the balance of the year. As John said, we were slightly underspent in the first quarter, and as we think about the balance of the year, we think we're within the guide. I do think there are productivity improvement opportunities in the portfolio and opportunities continue to expand margins, increase the efficiency of our operations and our execution, particularly as we look at product lines that are specifically targeted for growth. When I think about the entirety of the portfolio that we have within the Kito Crosby business, there are a few really attractive areas that we see sustainable growth opportunities for. The lifting hardware part of the business is an area where we have two sides to that portfolio. One that's a legacy Columbus McKinnon portfolio and one that is a Kito Crosby portfolio. The synergy value of them operating more seamlessly in alignment and the capacity opportunities and automation opportunities around that business could be areas where we may want to put some CapEx and drive productivity. Great. Thanks, David. Thanks, John. Thank you. That concludes our question and answer session for today. I will now hand the call back over to Mr. Wilson for the closing remarks. Thank you, Jenny. We appreciate everyone joining us today. We delivered a solid first quarter and are pleased with the early-stage progress as we advance the integration of Columbus McKinnon and Kito Crosby. Our positive start to the year and the traction we are gaining with targeted commercial, operational, and synergy realization initiatives enabled us to raise our full-year guidance. We are making meaningful progress in targeted areas and remain focused on what we can control. Unlocking margin expansion through identified growth opportunities and synergy realization, generating significant cash flow to reduce debt. With improved scale and an enhanced competitive position, we are a stronger business and are more confident than ever in our ability to create value for our customers and shareholders. Thank you again for your time and interest in Columbus McKinnon. As always, please reach out to our investor relations team with any questions. Thank you. Thank you, ladies and gentlemen. That concludes our question and answer session for today and also our conference call. Thank you all for joining. You may now disconnect your lines.