Good day. Thank you for standing by. Welcome to Spectrum Brands Holdings' fourth quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press star 11 on your telephone. You'll then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Jen Schultz, Division Vice President, FP&A and Investor Relations. Please go ahead.

Thank you, and welcome to Section Brands Holdings Q4 2026 Earnings Conference Call and Webcast. I'm Jen Schultz, Division Vice President of FP&A and Investor Relations, and I will moderate today's call. To help you follow our comments, we have placed a slide presentation on the event calendar page in the investor relations section of our website at www.spectrumbrands.com. This document will remain there following our call. Starting with slide two of the presentation, our call will be led by David Maura, our chairman and chief executive officer, and Faisal Qadir, our chief financial officer. After opening remarks, we will conduct the Q&A. Turning to slides three and four, Our comments today include forward-looking statements which are based upon management's current expectations, projections, and assumptions and are by nature uncertain. Actual results may differ materially. Due to that risk, Spectrum Brands encourages you to review the risk factors and cautionary statements outlined in our press release dated November 12, 2026, our most recent SEC filings, and Spectrum Brands Holdings' most recent annual report, on Form 10-K and quarterly reports on Form 10-Q. We assume no obligations to update any forward-looking statements. Also, please note that we will discuss certain non-GAAP financial measures in this call. Reconciliations on a GAAP basis for these measures are included in today's press release and slide presentation, which are both available on our website in the investor relations section. Now, I'll turn the call over to David Maura. David.

Hey, thanks, Jen. Good morning, everybody. Welcome to our fourth quarter and our full year earnings update. I want to thank everybody for joining us here this morning. Look, before I get to our Q4 performance and fiscal 26 performance, I'd like to address at the top of the call our proposal from our subsidiary, Empower Brands, which is jointly owned by Austin Oaktree to acquire Helena Troy. To understand why we're pursuing this transaction, it helps to start with my view of the broader industry landscape. There are simply way too many subscale public consumer product companies selling way too much of the same or similar products to too few retail customers. This is simply a fact. We have long held the view that this industry has too many players in a retail environment that is increasingly rewarding scale and that consolidation is not just beneficial, but it is in fact inevitable. One of the purposes behind our Creating Empowered Brands joint venture was to enable this business to actually achieve scale. We believe this combination represents a compelling opportunity for shareholders of both companies. For Helena Troy shareholders, our proposal provides the opportunity to realize immediate and certain cash value at an attractive premium with no execution risk. For Spectrum Brands shareholders, it represents an opportunity to build a stronger, better-resourced consumer products platform with the meaningful potential to create longer-term value. Greater scale matters. Scale funds the innovation of marketing and the operational capabilities that are simply table stakes and are required to win in an environment that is highly competitive with promotional categories facing tepid demand and recently materially rising cost pressures, as currently evidenced by inflationary headlines all over the place.

Please remain on the line. Your conference will resume shortly. Please remain on the line. Your conference will resume shortly. Thank you.

And pardon me, speakers, you may proceed. Kathy? Yes, welcome back. Your conference is resuming now.

Okay, apparently we dropped. I'll restart my comments. Good morning, everybody.