FGI Industries Ltd. (NASDAQ:FGI) Q2 2022 Earnings Conference Call August 11, 2022 8:00 AM ET

Company Participants

Paul Bartolai - Managing Director

David Bruce - President and CEO

Perry Lin - Chief Financial Officer

Conference Call Participants

Reuben Gardner - Benchmark

Greg Gibas - Northland Securities

Operator

Thank you for standing by. This is the conference operator. Welcome to the FGI Second Quarter 2022 Earnings Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there’ll be an opportunity to ask questions. [Operator Instructions]

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

Paul Bartolai

Thank you. Welcome to FGI Industries second quarter 2022 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, including the final prospectus from our initial public offering.

Additionally, please note that you can find reconciliations of the historical non-GAAP financial measures discussed during our call in the press release we issued yesterday and in the appendix to this presentation.

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

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

David Bruce

Thanks, Paul, and good morning to everyone. We generated another quarter of solid operating results with second quarter revenue and adjusted operating income coming in ahead of our expectations.

As we forecasted, we have seen some moderation in the broader R&R market as a result of some of the headwinds facing the housing market. So I’m very proud of our ability to generate continued strong revenue growth and sequential margin recovery, despite the slower market growth.