Eaton Corporation PLC (ETN) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 1, 2023 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Eaton's Second Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions] And as a reminder, your conference is being recorded.

I would now like to turn the conference over to your host, Yan Jin, Senior Vice President of Investor Relations. Please, go ahead.

Yan Jin

Good morning, guys. Thank you all for joining us for Eaton's second quarter 2023 earnings call. With me today are Craig Arnold, our Chairman and CEO; and Tom Okray, Executive Vice President and Chief Financial Officer. Our agenda today includes the opening remarks by Craig, then he will turn it over to Tom, who will highlight the company's performance in the second quarter. As we have done on our past calls, we'll be taking questions at the end of Craig’s closing commentary.

The press release and the presentation we'll go through today have been posted on our website. This presentation, including adjusted earnings per share, adjusted free cash flow and other non-GAAP measures. They are reconciled in the appendix. A webcast of this call is accessible on our website and will be available for replay.

I would like to remind you that our comments today will include statements related to the expected future results of the company and are therefore forward-looking statements. Our actual results may differ materially from our forecasted projections due to a wide range of risks and uncertainties that are described in our earnings release and the presentation.

With that, I will turn it over to Craig.

Craig Arnold

Thanks, Yan. Hey, today we're pleased to mark the end of the first quarter with one of our strongest performances ever, and a performance that strengthens our conviction about our long term growth prospects. Our teams continue to deliver on our commitment propelled by both strong markets and good execution. We'll begin with some of the highlights of the quarter on Page three.

Well understood at this point, mega trends, reindustrialization, infrastructure spending are continuing to expand our markets, driving our revenue orders and backlogs. We posted another quarter of record financial performance with strong revenue, margins and earnings growth. And we executed well.