Cognex Corporation (NASDAQ:CGNX) Q4 2022 Earnings Conference Call February 16, 2023 5:00 PM ET
Company Participants
Nathan McCurren - Head of Investor Relations
Robert Willett - President & Chief Executive Officer
Paul Todgham - Chief Financial Officer
Conference Call Participants
Josh Pokrzwinski - Morgan Stanley
Joe Ritchie - Goldman Sachs
Joe Giordano - Cowen
Guy Hardwick - Credit Suisse
Jacob Levinson - Melius Research
Jim Ricchiuti - Needham & Company
Rob Mason - Baird
Paul Chung - JPMorgan
Matt Summerville - D.A. Davidson
Jairam Nathan - Daiwa Capital Markets
Operator
Greetings, and welcome to the Cognex Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Nathan McCurren, Head of Investor Relations. Thank you. Please go ahead.
Nathan McCurren
Thank you, Dona. Good evening, everyone, and thanks for joining us. With me on today's call are Rob Willett, Cognex's President and CEO; and Paul Todgham, our CFO.
Our results were released earlier today. The press release and annual report on Form 10-K are available on the Investor Relations section of our website. Both the press release and our call today will reference non-GAAP measures. You can see a reconciliation of certain items from GAAP to non-GAAP in Exhibit 2 of the press release. Any forward-looking statements we made in the earnings release or any that we may make during this call are based upon information that we believe to be true as of today. Our actual results may differ materially from our projections due to risks and uncertainties that are described in our SEC filings, including our most recent Form 10-K filed tonight for 2022.
With that, I'll turn the call over to Rob.
Robert Willett
Thanks, Nathan. Hello, everyone, and thank you for joining us. We continue to navigate a challenging environment. Our fourth quarter results were largely in line with our guidance, but are not representative of our long-term growth expectations.
The focus of my remarks today will be on the near-term challenges we're facing, and then on the reasons why we remain excited and confident in our long-term growth opportunities. Our largest challenge within our logistics business, we continue to see a post-pandemic slowdown with a few of our largest e-commerce customers who have temporarily reduced their investments to absorb excess capacity. Looking beyond this temporary pause, we continue to expect logistics to be our highest growth end market over the mid to long term.