nVent Electric plc (NYSE:NVT) Q2 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 08:00 am ET


nVent Electric plc (NYSE:NVT) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the nVent Q2 Earnings Conference Call. [Operator Instructions]

I would now like to hand today's conference over to J.C. Weigelt, Vice President of Investor Relations. Sir, the floor is yours.

J. C. Weigelt

Thank you, Carmen, and welcome, everyone, to nVent's Second Quarter 2020 Earnings Call. I'm J.C. Weigelt, Vice President of Investor Relations. And also on the call are Beth Wozniak, our Chief Executive Officer; and Sara Zawoyski, our Chief Financial Officer. Today, we will provide details on our second quarter performance as well as the COVID-19 business update. Before we begin, let me remind you that any statements made about the company's anticipated financial results are forward-looking statements subject to future risks and uncertainties, such as the risks outlined in today's press release and nVent's filings with the Securities and Exchange Commission. Forward-looking statements are made as of today, and the company undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances. Actual results could differ materially from anticipated results. Today's webcast is accompanied by a presentation, which can be found in the Investors section of nVent's website. References to non-GAAP financials are reconciled in the appendix of the presentation. We'll have time for questions after our prepared remarks.

And now I will turn the call over to Beth.

Beth Wozniak

Thank you, J.C. Good morning, and thank you for joining us. We continue to hope that you and those around you are safe and healthy as we navigate through the pandemic. I want to extend a special thank you to all of our nVent employees who have been resilient and who are adapting to a new way of working. Our focus and collaboration has never been stronger. The safety and well-being o;f our employees remains our first priority at nVent. I want to acknowledge that these are challenging times, and our employees have been putting in tremendous effort, living our customer-first value to go above and beyond to keep our business running. I'm truly grateful and inspired by their commitment and dedication. I also want to make a comment on racism, inequality and injustice in our society. nVent stands with the black community with all people of color and others who feel marginalized. We stand against inequality and injustice of any kind, and we will not tolerate racism in any form. We have launched listening circles across nVent as part of an effort to engage our employees in a dialogue on racism. We have made the commitment that we will listen, we will talk and we will act. Together, we will emerge stronger.

Now I would like to turn to our second quarter results on slide three of the presentation titled Executive Summary. We remain focused on our three near-term priorities, which are: first, focusing on the safety and well-being of our employees; second, continued business operations to serve our customers and support critical infrastructure; and third, take actions to make nVent a stronger company, well positioned to