A. O. Smith Corporation (AOS) CEO Kevin Wheeler on Q2 2022 Results - Earnings Call Transcript

A. O. Smith Corporation (NYSE:AOS) Q2 2022 Earnings Conference Call July 28, 2022 10:00 AM ET

Company Participants

Helen Gurholt - Vice President, Financial Planning and Analysis

Kevin Wheeler - Chairman, President and Chief Executive Officer

Chuck Lauber - Executive Vice President and Chief Financial Officer

Conference Call Participants

Mike Halloran - Baird

Nathan Jones - Stifel

Andy Kaplowitz - Citigroup

Matt Summerville - D.A. Davidson

David MacGregor - Longbow Research

Jeff Hammond - KeyBanc Capital Markets, Inc.

Scott Graham - Loop Capital Markets

Damian Karas - UBS

Operator

Good day and thank you for standing by. Welcome to the A. O. Smith Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's 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 speaker today, Helen Gurholt. Ma'am, please go ahead.

Helen Gurholt

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 in the operating results for 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 on non-operating, non-cash pension income and expenses. Reconciliation from GAAP measures to non-GAAP 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 risk 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 for return. 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@investor.aosmith.com.

I will now turn the call over to Kevin to begin our prepared remarks. Please turn to the next slide.