Eaton Corporation PLC (ETN) Q4 2022 Earnings Call Transcript

Eaton Corporation PLC (NYSE:ETN) Q4 2022 Earnings Conference Call February 8, 2023 11:00 AM ET

Company Participants

Yan Jin - SVP, IR

Craig Arnold - Chairman & CEO

Tom Okray - EVP & CFO

Conference Call Participants

Nigel Coe - Wolfe Research

Joshua Pokrzywinski - Morgan Stanley

Andrew Obin - Bank of America Merrill Lynch

Stephen Volkmann - Jefferies

Brett Linzey - Mizuho Securities

David Raso - Evercore ISI

Christopher Snyder - UBS

Jeffrey Sprague - Vertical Research Partners

Scott Davis - Melius Research

Nicole DeBlase - Deutsche Bank

Julian Mitchell - Barclays Bank

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Eaton fourth quarter earnings call. [Operator Instructions].

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

Yan Jin

Good morning, everyone. Thank you all for joining us for Eaton's Fourth Quarter 2022 Earning 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 opening remarks by Craig, then we will turn it over to Tom, who will highlight the company's performance in the fourth quarter. As we have done on our past calls, we will 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 includes adjusted earnings per share, adjusted free cash flow and other non-GAAP measures. They're 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 earning release and the presentation.

With that, I will turn it over to Craig.

Craig Arnold

Thanks, Yan. We'll begin with the highlights of the quarter on Page 3. And I'll start by noting that we again delivered very strong results in the quarter and record performance for the year. We generated adjusted EPS of $2.06 for the quarter and $7.57 for the year, both all-time records in each period.