Steelcase Inc. (NYSE:SCS) Q2 2023 Earnings Conference Call September 22, 2022 8:30 AM ET

Company Participants

Sara Armbruster - President, Chief Executive Officer

David Sylvester - Senior Vice President, Chief Financial Officer

Mike O’Meara - Director, Investor Relations

Conference Call Participants

Reuben Garner - Benchmark Company

Bud Bugatch - Water Tower Research

Steven Ramsey - Thompson Research

Operator

Good morning. My name is Rex and I will be your conference Operator today.

At this time, I would like to welcome everyone to the Steelcase second quarter fiscal 2023 conference call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, simply press star, one again. Thank you.

Mr. O’Meara, you may begin your conference.

Mike O’Meara

Thank you Rex. Good morning everyone. Thank you for joining us for the recap of our second quarter fiscal 2023 financial results. Here with me today are Sara Armbruster, our President and Chief Executive Officer, and Dave Sylvester, our Senior Vice President and Chief Financial Officer.

Our second quarter earnings release, which crossed the wires yesterday, is accessible on our website. This conference call is being webcast and this webcast is a copyrighted production of Steelcase Inc. A replay of this webcast will be posted through ir.steelcase.com later today.

Our discussion today may include references to non-GAAP financial measures and forward-looking statements. Reconciliations to the most comparable GAAP measures and details regarding the risks associated with the use of forward-looking statements are included in our earnings release, and we are incorporating by reference into this conference call the text of our Safe Harbor statement included in the release.

Following our prepared remarks, we will respond to questions from investors and analysts.

I will now turn the call over to our President and Chief Executive Officer, Sara Armbruster.

Sara Armbruster

Thanks Mike and good morning everyone. I’m pleased to share that our earnings this quarter were better than expected and we’ve delivered significantly higher order growth in the Americas than the rest of our industry over the past year. Our weigh rates remain strong and halfway through the year our financial results are on target. These results are due in part to the great work our teams are doing to implement pricing actions designed to combat the continued inflationary pressure our industry is experiencing, and I’m proud of the progress we’re making.