A. O. Smith Corporation (AOS) Q3 2022 Earnings Call Transcript

A. O. Smith Corporation (NYSE:AOS) Q3 2022 Results Conference Call October 27, 2022 10:00 AM ET

Company Participants

Helen Gurholt - Head of IR

Kevin Wheeler - Chairman and Chief Executive Officer

Chuck Lauber - Chief Financial Officer

Conference Call Participants

Matt Summerville - D.A. Davidson

Susan Maklari - Goldman Sachs

Michael Halloran - Baird

Nathan Jones - Stifel

David MacGregor - Longbow Research

Damian Karas - UBS

Andrew Kaplowitz - Citigroup

Jeff Hammond - KeyBanc Capital Markets

Operator

Hello. Thank you for standing by, and welcome to the A. O. Smith Third Quarter 2022 Earnings Call. At this time, all participants are in listen-only mode. After the speaker presentation there will be a question and answer session. [Operator Instructions] Please be advised that this conference may be recorded.

I would now like to hand the conference over to your speaker today, Helen Gurholt. Please go ahead.

Helen Gurholt

Thank you, Josh. Good morning, and welcome to the A.O. Smith third 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 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 nonoperating, noncash pension income and expenses as well as legal judgment income and terminated acquisition-related 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 1 question and 1 follow-up per chart. 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.