Thank you and welcome to the TriMas Third Quarter 2020 Earnings Call. Participating on the call today are Tom Amato, TriMas's President and CEO; and Bob Zalupski, our Chief Financial Officer. After our prepared remarks on our results, we will open the call up for your questions. In order to assist with the review of our results, we have included the press release and PowerPoint presentation on our company website www.trimascorp.com under the Investors section. In addition, a replay of this call will be available later today by calling 888-203-1112 with the replay code of 3061032. Before we get started, I would like to remind everyone that our comments today, which are intended to supplement your understanding of TriMas may contain forward-looking statements that are inherently subject to a number of risks and uncertainties, including impacts from COVID-19. Please refer to our Form 10-K and our third quarter 10-Q that will be filed today for a list of factors that could cause our results to differ from those anticipated in any forward-looking statements. Also, we undertake no obligation to publicly update or revise any forward-looking statements except as required by law. We would also direct your attention to our website where considerably more information may be found. In addition, we would like to refer you to the appendix in our press release issued this morning or included as a part of the presentation for the reconciliations between GAAP and non-GAAP financial measures used during this conference call. Today the discussion on the call regarding our financial results will be on an adjusted basis excluding the impact of special items. With that, I will turn the call over to Tom Amato, TriMas President, and CEO, Tom?

Good morning, and welcome to TriMas's third quarter earnings call. This year we have all learned to endure modifications to our daily routines to protect the health and safety of individuals in the communities where we live and work. At TriMas we have taken steps in each of our facilities to enhance social distancing and increase awareness of cleaning and personal hygiene. Compounding the impact of these physical changes certain of our facilities are operating at full capacity, while other facilities are operating at market reduce capacities. Both cases result in our teams having to adapt to our operating patterns to protect supply for our customers. Again as I've said on earlier calls, I extend my deepest appreciation to our employees around the world for their commitment and dedication during these challenging times. Let's turn to Slide 3. TriMas operates businesses with strong brand names in a diverse set of end markets and applications. At the end of 2019, we successfully completed a strategic divestiture, which resulted in concentrating our family of businesses in this segment shown and this slide. We believe this strategic step reduced TriMas's overall systemic risk, which will benefit our shareholders in the long run, especially for a company of our moderate size. TriMas's presence in a diverse set of end markets further diversifies our risk and has proven to be beneficial for our investors again, in this third quarter. As a reminder, just over 60% of TriMas's revenues are reported in our Packaging segment where we provide dispensers, closures, and jars into a wide variety of consumer-packaged goods and industrial applications. Several of our product lines are used in applications that help fight against the spread of germs such as hand sanitizers, soaps, and lotions, and products for household and janitorial cleaning. Sales within our…

Thank you, Tom. If we turn to Slide 8, I would like to begin my comments with the review of our continued strong financial position, despite operating in a period of unprecedented dislocation exiting second quarter we remain confident that prior actions taken to strengthen our balance sheet will continue to benefit us over the second half of the year. Capitalizing on our strong operating performance and solid working capital management we generated free cash flow of $41.6 million in the quarter as compared to $19.3 million in Q3 2019, a year-over-year improvement of 116%. As a result we resumed our share buyback program in Q3 repurchasing approximately 188,000 shares during the quarter for $4.5 million. And a year-to-date basis, it is a similar story. We generated free cash flow of $68.5 million as compared to $42.7 million in the same period a year ago and repurchased 1.4 million shares for approximately $36 million in a return of capital to our shareholders. We ended the quarter with net debt of $196 million as compared to $236 million a year ago and increased LTM adjusted EBITDA to $154 million, resulting in net leverage of 1.3 times, well below our targeted level of two times. Pro forma for the acquisition of Affaba & Ferrari announced earlier this morning, we anticipate our net leverage will remain below two times. In summary, given unrestricted cash and available liquidity of roughly $390 million at quarter-end, we continue to have sufficient capacity to execute our capital allocation priorities of reinvestment in our businesses, programmatic M&A, and return of capital to our investors through share repurchases. Turning to Slide 10 and a review of our Packaging segment. I would first like to highlight that Q3 represented the second consecutive record quarter in terms of sales and operating…

Thank you, Bob. Let's turn to Slide 14. As we near the end of the year we have a better sense of how our customers' activities are tracking, while we also recognize the consumer confidence remains fragile and ordering patterns can change swiftly. We also know that Q4 is historically our lowest sales quarter with less ship days as compared to earlier quarters in the year. We expect sales in our Packaging segment will remain strong versus the prior-year period, although we anticipate some slowing in the rate of growth, it has occurred over the past two quarters as customers evaluate year-end inventory positions. We also expect sales in our Aerospace segment to remain well off the prior year quarter given low travel rates and corresponding low production rates of commercial jets. And finally, we expect to continue with the current run rate of our Specialty Product segment through the balance of the year. Therefore, in light of these assumptions, we anticipate full year 2020 sales to be up 4% to 6% as compared to 2019. We anticipate full year EPS to be in the range of $1.45 to $1.50 with the higher end of the range achieved if order intake and deliveries in our TriMas Packaging Group remains strong. Full year cash flow was anticipated to be greater than $90 million again, proving that even in challenging times our commitment to cash conversion remains solid. We are also working on our 2021 outlook. While I don't have any specific numbers to offer on this call, we do believe as with most companies that should a vaccine to the market come should a vaccine come to the market or the rate of COVID-19 cases significantly subsides that this will begin the benefit TriMas Aerospace and TriMas Specialty Product segments. On…

Thanks, Tom. At this point, we'd like to open the call up to your questions.

Thank you. [Operator Instructions] All right. I'm showing no questions at this time. : :

Thank you, operator. We have been alerted by a number of our analyst given how busy this day is in terms of earnings being reported that they would be circling up with us later. For those on the call, I want to thank you for your time. Please stay safe and healthy and we'll talk to you at the next earnings call next quarter. Thank you very much.

Thank you, ladies and gentlemen. This concludes today's teleconference. You may now disconnect.