FGI Industries Ltd. (NASDAQ:FGI) Q2 2023 Earnings Conference Call August 10, 2023 8:00 AM ET

Company Participants

Paul Bartolai - Managing Director, Vallum Capital Advisors

David Bruce - President and Chief Executive Officer

Perry Lin - Chief Financial Officer

Conference Call Participants

Reuben Garner - Benchmark

Gregory Gibas - Northland Securities

Operator

Good morning, and welcome to the FGI Industries Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please also note that this event is being recorded today.

I would now like to turn the conference over to Paul Bartolai, Managing Director, Vallum Advisors. Please go ahead, sir.

Paul Bartolai

Thank you. Welcome to FGI Industries Second Quarter 2023 Results Conference Call. Leading the call today are President and CEO, David Bruce; and Chief Financial Officer, Perry Lin. We issued a press release after the market closed yesterday detailing our recent operational and financial results.

I would like to remind you that management's commentary and responses to questions on today's conference call may include forward-looking statements, which, by their nature, are uncertain and outside of the company's control. Although these forward-looking statements are based on management's current expectations and beliefs, actual results may differ materially.

For a discussion of some of the factors that could cause actual results to differ, please refer to the Risk Factors section of our latest filings with the SEC. Additionally, please note that you can find reconciliations of historical non-GAAP financial measures in the press release issued yesterday and in the appendix of this presentation.

Today's call will begin with a performance review and strategic update from David Bruce, followed by a financial review from Perry Lin. At the conclusion of these prepared remarks, we will open the line for your questions.

With that, I'll turn the call over to Dave.

David Bruce

Thanks, Paul. Good morning to everyone, and thanks for joining our call today. During the second quarter, we maintained focus on our long-term strategy and continued to make important progress on our growth and margin initiatives despite the sluggish demand trends and inventory headwinds, which once again pressured results. We continue to execute on our BPC growth initiatives and added several new awards and partnerships during the second quarter including a new licensing agreement that should drive incremental growth in our Sanitaryware business as well as new sales partnerships that will allow us to expand our geographic footprint into India and Eastern Europe in the coming years, all of which should put FGI in a strong position to return to organic growth as industry conditions normalize.