ESAB Corporation (NYSE:ESAB) Q4 2023 Earnings Conference Call February 29, 2024 8:00 AM ET

Company Participants

Mark Barbalato - Vice President, Investor Relations

Shyam Kambeyanda - President & Chief Executive Officer

Kevin Johnson - Chief Financial Officer

Conference Call Participants

Tami Zakaria - JPMorgan

Mig Dobre - Baird

David Raso - Evercore ISI

Nathan Jones - Stifel

Chris Dankert - Loop Capital

Rob Jamieson - UBS

Operator

Good morning. My name is Christa and I'll be your conference operator today. At this time, I would like to welcome everyone to the ESAB Corporation Fourth Quarter 2023 Earnings 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. [Operator Instructions]

Thank you. I will now turn the conference over to Mark Barbalato, Vice President of Investor Relations. Mark you may begin your conference.

Mark Barbalato

Thanks operator. Welcome to ESAB's fourth quarter 2023 earnings call. This morning I'm joined by our President and CEO, Shyam Kambeyanda; and CFO, Kevin Johnson.

Please keep in mind that some of the statements we are making are forward-looking and are subject to risks including those set forth in our SEC filings and today's earnings release.

Actual results may differ and we do not assume any obligation or intend to update these forward-looking statements except as required by law. With respect to any non-GAAP financial measures mentioned during the call today, the accompanying reconciliation information related to those measures can be found in our earnings press release and today's slide presentation.

With that, I'd like to turn the call over to our President and CEO, Shyam Kambeyanda.

Shyam Kambeyanda

Thank you, Mark. Good morning everyone and thank you all for joining us this morning. ESAB has made excellent progress in 2023 and we finished the year and the fourth quarter on a high note.

As always, let me take a moment to thank our dedicated associates for their hard work and commitment to our goals. Our 2023 performance demonstrates the power of EBX to drive growth, improve margins, and generate strong free cash flow.

During Investor Day this past December, we announced our strategic vision to become a focused premier industrial compounder and setting our 2028 targets to become a $4 billion in sales, 22% in EBITDA margin enterprise, that generates 100% free cash flow conversion.

The event also showcased our innovative products and solutions within our FABTECH and Gas Equipment businesses, allowing us to highlight the power of our portfolio and workflow solutions that are helping our customers solve their most challenging needs.