Regal Beloit Corporation (NYSE:RBC) Q2 2019 Earnings Conference Call - Final Transcript

Aug 06, 2019 • 10:00 am ET


Regal Beloit Corporation (NYSE:RBC) Q2 2019 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the Regal Beloit Second Quarter 2019 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Rob Cherry, Vice President of Investor Relations. Please go ahead.

Robert K. Cherry

Good morning, and welcome to Regal Beloit's Second Quarter 2019 Earnings Conference Call. Joining me today are Louis Pinkham, our Chief Executive Officer; Jon Schlemmer, our Chief Operating Officer and Rob Rehard, our Vice President and Chief Financial Officer.

Before turning the call over to Louis, I would like remind you that the statements made in this conference call that are not historical in nature are forward-looking statements. Forward-looking statements are not guarantees since there are inherent difficulties in predicting future results and actual results could differ materially from those expressed or implied in forward-looking statements. For a list of factors that could cause the actual results to differ materially from projected results, please refer to today's earnings release in our SEC filings.

On Slide 3, we state that we are presenting certain non-GAAP financial measures in this presentation. We believe that these are useful financial measures to provide you with additional insight into our operating performance and for helping investors understand and compare our operating results across accounting periods and in the same manner as management. Please read this slide for information regarding these non-GAAP financial measures, and please see the appendix for a reconciliation of these measures to the most comparable measures in accordance with GAAP.

Now let me briefly review the agenda for today's call. Louis will lead off with his opening comments and an overview of the quarter. Rob will then review our second quarter financial results in detail and provide an update on our 2019 outlook. We will then move to Q&A, after which, Louis will have some closing remarks.

Now I will turn the call over to Louis.

Louis V. Pinkham

Thanks, Rob, and good morning, everyone. Thank you for joining Regal's second quarter earnings conference call and thank you for your interest in Regal. As Rob mentioned, our COO, Jon Schlemmer, is joining us today. And although he will not be making prepared remarks, he will be available on this call to help answer questions. I would like to take this opportunity to thank all of the investors and analysts that I have had the pleasure of meeting with over the four months since I started at Regal. I look forward to meeting even more of you in the future.

In these past four months, I have visited many of our facilities, met with many of our associates and visited with a number of our customers. The talent in our organization is strong, and we have deep application knowledge in our served markets. Our products are differentiated, push the boundaries of energy efficiency and are increasingly IoT-oriented. Our customer relationships are strong and deep. In all, we have a great organization.

Turning to the current period, we