A. O. Smith Corporation (NYSE:AOS) Q2 2024 Earnings Conference Call July 23, 2024 10:00 AM ET
Company Participants
Helen Gurholt - VP, IR and Financial Planning & Analysis
Kevin Wheeler - Chairman & CEO
Chuck Lauber - CFO
Conference Call Participants
Matt Summerville - D.A. Davidson
Jeff Hammond - KeyBanc Capital Markets
Susan Maklari - Goldman Sachs
Saree Boroditsky - Jefferies
Andy Kaplowitz - Citigroup
David MacGregor - Longbow Research
Scott Graham - Seaport Research Partners
Damian Karas - UBS
Operator
Good day. Thank you for standing by. Welcome to the 2024 Second Quarter A. O. Smith Earnings Call. At this time, all participants are in listen-only mode. After the speakers presentation there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Helen Gurholt. Please go ahead.
Helen Gurholt
Thank you, Marvin. Good morning, and welcome to the A.O. Smith second quarter conference call. I'm Helen Gurholt, Vice President, Investor Relations and Financial Planning and 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 the operating results of our business, we provide 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 pension settlement income and restructuring and impairment expenses. 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 others 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.
Kevin Wheeler
Thank you, Helen, and good morning, everyone. I'm on Slide 4 and our second quarter results. I'm very pleased with our second quarter performance and how we are tracking for the year. In the second quarter, our global A.O. Smith team delivered record quarterly sales of $1 billion and EPS of $1.06, a 5% increase over 2023 adjusted EPS.