Vertiv Holdings Co. (NYSE:VRT) Q2 2022 Earnings Conference Call August 3, 2022 11:00 AM ET
Company Participants
Lynne Maxeiner - VP. IR
Dave Cote - Executive Chairman
Rob Johnson - CEO
David Fallon - CFO
Gary Niederpruem - Chief Strategy & Development Officer
Conference Call Participants
Nigel Coe - Wolfe Research
Scott Davis - Melius Research
Jeff Sprague - Vertical Research
Andy Kaplowitz - Citigroup
Mark Delaney - Goldman Sachs
Lance Vitanza - Cowen
Steve Tusa - JPMorgan
David Ridley-Lane - Bank of America
Operator
Good morning. My name is Nadia, and I will be your conference operator today. At this time, I would like to welcome everyone to Vertiv's Second Quarter 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. Please note that this call is being recorded.
I would now like to turn the program over to your host for today's conference call, Lynne Maxeiner, Vice President of Investor Relations.
Lynne Maxeiner
Great. Thank you, Nadia. Good morning, and welcome to Vertiv’s second quarter 2022 earnings conference call. Joining me today are Vertiv's Executive Chairman, Dave Cote; Chief Executive Officer, Rob Johnson; Chief Financial Officer, David Fallon; and Chief Strategy and Development Officer, Gary Niederpruem.
Before we begin, I'd point out that during the course of this call, we will make forward-looking statements regarding future events, including the future financial and operating performance of Vertiv. These forward-looking statements are subject to material risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. We refer you to the cautionary language inclusion in today's earnings release, and you can learn more about these risks in our annual and quarterly report, and other filings with the SEC. Any forward-looking statements that we make today are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.
During this call, we will also present both GAAP and non-GAAP financial measures. Our GAAP results and GAAP to non-GAAP reconciliations can be found in our earnings press release and in the investor slide deck found on our website at investors.vertiv.com.
With that, I'll turn the call over to Executive Chairman, Dave Cote.
Dave Cote
As I mentioned on our previous calls, we're taking 2022 a quarter at a time, with an escalating performance profile, as price increase is realized. It has taken time to work our way through the backlog, but as we do, performance escalate. The profile will look exactly the same as we outlined in February, but in substance, the story and performance are in line with that profile. And market demand remains robust. Our order rates reflect this strength, and as market leaders in these spaces, we are furthering the gap by accelerating our new product introductions.