SPX Technologies, Inc. (NYSE:SPXC) Q4 2022 Earnings Conference Call February 23, 2023 4:45 PM ET

Company Participants

Paul Clegg - Investor Relations

Gene Lowe - President and Chief Executive Officer

Mark Carano - Chief Financial Officer

Mike Reilly - Chief Accounting Officer

Conference Call Participants

Damian Karas - UBS

Bryan Blair - Oppenheimer

Steve Ferazani - Sidoti

Damian Karas - UBS

Operator

Good day and thank you for standing by. Welcome to the Q4 2022 SPX Technologies Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Paul Clegg, Vice President of Investor Relations and Communications. Please go ahead.

Paul Clegg

Thank you and good afternoon everyone. Thanks for joining us. With me on the call today are Gene Lowe, our President and Chief Executive Officer and Mark Carano, our Chief Financial Officer. Also available during Q&A will be our Chief Accounting Officer, Mike Reilly.

The press release containing our fourth quarter and full year results for 2022 was issued today after market close. You can find the release in our earnings slide presentation as well as a link to a live webcast of this call in the Investor Relations section of our website at spx.com. I encourage you to review our disclosure and discussion of GAAP results in the press release and to follow along with the slide presentation during our prepared remarks. A replay of the webcast will be available on our website until March 2.

As a reminder, portions of our presentation and comments are forward-looking and subject to safe harbor provisions. Please also note the risk factors in our most recent SEC filings. Our comments today will largely focus on adjusted financial results and comparisons will be to the results of continued operations only. You can find detailed reconciliations of historical adjusted figures to their respective GAAP measures in the appendix to today’s presentation. Our adjusted earnings per share exclude primarily non-service pension items, asset impairment charges, amortization expense and a loss on the divestiture of asbestos-related assets and liabilities. One change you will notice in our press release and our 10-K is that we have aligned our definition of segment income with the way it is presented in our earnings presentation, which excludes the impact of amortization expense and acquisition-related items. Finally, we will be conducting meetings with investors over the coming months, including at the UBS Infrastructure and EMC Conference in Dallas as well as at Sidoti’s virtual SmallCap Conference.