Emerson Electric Co. (EMR) CEO Lal Karsanbhai on Q3 2022 Results - Earnings Call Transcript

Emerson Electric Co. (NYSE:EMR) Q3 2022 Earnings Conference Call August 9, 2022 9:00 AM ET

Company Participants

Colleen Mettler - VP IR

Lal Karsanbhai - President & Chief Executive Officer

Frank Dellaquila - Senior Executive Vice President & Chief Financial Officer

Ram Krishnan - Executive Vice President & Chief Operating Officer

Conference Call Participants

Andrew Obin - Bank of America

John Walsh - Credit Suisse

Andy Kaplowitz - Citigroup

Steve Tusa - JPMorgan

Josh Pokrzywinski - Morgan Stanley

Scott Davis - Melius Research

Jeffrey Sprague - Vertical Research Partners

Julian Mitchell - Barclays

Nicole DeBlase - Deutsche Bank

Operator

Good morning, and welcome to the Emerson Third Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.

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

Colleen Mettler

Thank you, and good morning. Thank you for joining Emerson's third quarter fiscal 2022 earnings conference call. Today, I am 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's President and CEO, Lal Karsanbhai, for opening remarks.

Lal Karsanbhai

Thank you, Colleen, and good morning, everyone. I'd like to begin by thanking the nearly 90,000 Emerson employees around the world for their tremendous effort, passion and commitment to deliver the solid results we will speak about today.

Over the past four months, I've had the opportunity to travel to several U. S. sites, including Houston, Chicago, Ohio and Pittsburgh as well as visiting investors, customers and our teams in Germany, Denmark, Brazil and Mexico. I have to be honest, there is no substitute for being with our teams in person. I'm looking forward to this month's trips to India and Singapore. And I'd also like to thank our Board of Directors for their support and our shareholders for your trust in us.

As an organization, we continue to make significant progress on all of our strategic imperatives aimed to accelerate value creation, culture, portfolio and execution. Our culture evolution continues in earnest. We are launching our efforts with new listening tools, a modernized employee value proposition and a new reinvigorated talent engine. To this end, on August 1, we hired our first Vice President of Culture, [Kelly Clark], who joins our company at a crucial point in time and brings unparalleled experience and cultural transformation.