Emerson Electric Co. (EMR) CEO Lal Karsanbhai on Q2 2022 Results - Earnings Call Transcript

Emerson Electric Co. (NYSE:EMR) Q2 2022 Earnings Conference Call May 4, 2022 9:00 AM ET

Company Participants

Brian Joe - Investor Relations

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

Joe Ritchie - Goldman Sachs

Steve Tusa - JPMorgan

Scott Davis - Melius Research

Andrew Obin - Bank of America

Andy Kaplowitz - Citigroup

Josh Pokrzywinski - Morgan Stanley

Deane Dray - RBC Capital Markets

Nigel Coe - Wolfe Research

Tommy Moll - Stephens

Brendan Luecke - AllianceBernstein

Operator

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

I would now like to turn the conference over to Brian Joe. Please go ahead, sir.

Brian Joe

Good morning and thank you for joining us for Emerson's Second 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 risk and uncertainty. Please take time to read the safe harbor statement and note on the non-GAAP measures.

Turning to Slide 3. As noted in our press release, Emerson officially announced the date and location of our 2022 investor conference. The conference will be held in person November 29 in New York City. More details will be distributed as we approach the conference later this year.

I'll now turn the presentation over to Emerson's President and CEO, Lal Karsanbhai, for his opening remarks.

Lal Karsanbhai

Thanks, Brian. Good morning, everyone. I would like to begin by thanking the global Emerson team, who again delivered very strong results amid challenging operating conditions. I'd also like to thank and extend my appreciation to Emerson's Board of Directors for their energy and support of management. And lastly, to all our shareholders who believe in our value creation proposition, thank you.

A lot has changed since our call three months ago. Operating conditions clearly worsened, the war in Ukraine, COVID lockdowns in China, resulted in a return to inflationary commodity environment, lead time extensions and shortages in electronics and logistics challenges. All this resulted in challenging variances across our businesses. But in spite of this, our business performance was strong, and we delivered differentiated results in our ability to execute.