A. O. Smith Corporation (NYSE:AOS) Q3 2023 Results Conference Call October 26, 2023 10:00 AM ET
Company Participants
Helen Gurholt - VP, IR and Financial Planning & Analysis
Kevin Wheeler - Chairman and CEO
Chuck Lauber - CFO
Conference Call Participants
Saree Boroditsky - Jefferies
Nathan Jones - Stifel
Bryan Blair - Oppenheimer
Susan Maklari - Goldman Sachs
Andy Kaplowitz - Citigroup
Matt Summerville - D.A. Davidson & Company
Damian Karas - UBS
Operator
Welcome to the A. O. Smith’s Third Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please be advised that today’s conference is being recorded.
I would now like to hand the call over to our first speaker for today, Helen Gurholt. Your line is now open.
Helen Gurholt
Good morning, and thank you, everyone, for your patience while we dealt with our technical difficulties.
Welcome to our A. O. Smith’s third quarter conference call. I’m Helen Gurholt, Vice President, Investor Relations and Financial Planning & Analysis. Joining me today are Kevin Wheeler, Chairman and Chief Executive Officer; and Chuck Lauber, Chief Financial Officer.
In order to provide improved transparency into our operating results of our business, we provided non-GAAP measures. Free cash flow is defined as cash from operations, less capital expenditures. Adjusted earnings, adjusted earnings per share, adjusted segment earnings and adjusted corporate expenses exclude the impact of impairment charges, nonoperating noncash pension income and expenses as well as legal judgment income and terminated acquisition-related expenses. We also provide total segment earnings. Reconciliations from GAAP measures to non-GAAP measures are provided in the appendix at the end of this presentation and on our website.
A friendly reminder that some of our comments and answers during this conference call will be forward-looking statements that are subject to risks that could cause actual results to be materially different. Those risks include matters that we described in this morning’s press release, among others. Also, as a courtesy to those in the question queue, please limit yourself to one question and one follow-up per turn. If you have multiple questions, please rejoin the queue.
We will be using slides as we move through today’s call. You can access them on our website at investor.aosmith.com.
I will now turn the call over to Kevin to begin our prepared remarks. Please turn to the next slide.
Kevin Wheeler
Thank you, Helen, and good morning, everyone. I’m on slide 4 and will review a few of our third quarter highlights.