Emerson Electric Co. (EMR) Q1 2023 Earnings Call Transcript

Emerson Electric Co. (NYSE:EMR) Q1 2023 Earnings Conference Call February 8, 2023 8:30 AM ET

Company Participants

Colleen Mettler – Vice President Investor Relations

Lal Karsanbhai – President and Chief Executive Officer

Frank Dellaquila – Chief Financial Officer

Ram Krishnan – Chief Operating Officer

Conference Call Participants

Scott Davis – Melius Research

Josh Pokrzywinski – Morgan Stanley

Andy Kaplowitz – Citigroup

Deane Dray – RBC Capital Markets

Julian Mitchell – Barclays

Jeff Sprague – Vertical Research

Steve Tusa – JPMorgan

Nigel Coe – Wolfe Research

Joe Ritchie – Goldman Sachs

Joe O’Dea – Wells Fargo

Christopher Glynn – Oppenheimer

Gautam Khanna – Cowen

Tommy Moll – Stephens

Chris Snyder – UBS

Operator

Good morning, and welcome to the Emerson First Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Colleen Mettler, Vice President Investor Relations. Please go ahead.

Colleen Mettler

Thank you. Good morning. Thanks for joining us for Emerson's first quarter fiscal 2023 earnings conference call. Today, I'm joined by President and Chief Executive Officer, Lal Karsanbhai; Chief Financial Officer, Frank Dellaquila; and Chief Operating Officer, Ram Krishnan.

As always, I encourage everyone to follow along with the slide presentation, which is available on our website. Please join me on Slide 2. This presentation may include forward-looking statements, which contain a degree of business risks and uncertainties. Please take time to read the safe harbor statement and note on the non-GAAP measures.

I will now pass the call over to Emerson President and CEO, Lal Karsanbhai, for opening remarks.

Lal Karsanbhai

Thank you, Colleen. Good morning, and thank you for joining us. I'd like to begin by thanking the global Emerson family for delivering yet another strong operational quarter. I'd also like to extend my appreciation to our Board of Directors and the shareholders of Emerson for your continued confidence in this management team. We remain confident about the strength of our markets from both a geographic and an industry perspective.

This is exemplified by our project funnel that continues to grow, exceeding $7 billion at the end of the quarter. Before I turn the call over and discuss the quarter's performance, in review of our strong outlook for the second quarter and the year, I'd like to say a few words about our headquarters announcement this morning. We conducted a comprehensive three-month review of location options.