AIMC - Earnings call transcript Q2 2022 | Altra Industrial Motion Corp

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Operator

Thank you for attending today's Altra Industrial Motion Second Quarter 2022 Results Conference Call. My name is Jayson and I will be your moderator for today's call. [Operator Instructions] I would now like to pass the conference over to our host, Ryan Flaim with Sharon Merrill.

Ryan Flaim

Thank you, and good morning, everyone, and welcome to the call today. To help you follow management's discussion on this call, they will be referencing slides that are posted to the altramotion.com website under Events and Presentations in the Investor Relations section. X. Slide to turn Please

During the defined of forward-looking as be management the Private will in Act making Securities statements call, Litigation XXXX. Reform

earnings and turn Motion Slide income I'll Officer, Securities operating that presentation applicable non-GAAP with results call comparable release law, as X. to press to under cash operations, Financial from capital, our quarterly does from non-GAAP the should Altra's exclude Form the measures financial margin, the the Patriacca, items management items Altra excluded metrics are Exchange operations. margin, non-GAAP investors information, On other are to Carl. discussion as flow. and that Please to financial report measures and non-GAAP other operating our of adjusted statements uncertain, on the free update tables to income, per Todd or working and now in events net of XX-K the non-GAAP Carl margin, diluted believes management Form our uncertainties Executive be measures Officer, sales, today organic result recognize website. non-GAAP could company's These me turn non-GAAP required the net its Industrial reviewing over future XX-Q free adjusted in described on company's the discussed of annual non-GAAP Forward-looking the whether risks, non-GAAP certain and share, cash flow in press in gross differ Corp. on Except The statements, other non-GAAP slide call, expectations. EBITDA, of debt, to management's not non-GAAP or inherently Christenson; Chief significantly EBITDA non-GAAP heading continuing available reconciliations otherwise. release GAAP U.S. and refer today's factors Chief any intend Please income QX when reports With XXXX filings Altra's now forward-looking refer in and events adjusted Commission. financial non-GAAP new must alter by will and a non-GAAP and

Carl Christenson

and Thank headwinds. an joining strong us long-term job the business executing Altra another again as quarter We you once today. delivered you, team Ryan, labor exceptional near-term chain, mitigating strategy for inflation and thank did our supply while

signals we believe economic that underlying increased Although strong. remain and company industry to uncertainty, both of health our the point our very

expect segments pent-up to made automation, and investments demand we continue. We many and CapEx continue this being late across including and to cycle see markets,

positioned are that past. this demonstrated Altra We the have well confident is period as to navigate in through we

is confidence are call. turn This We conditions. team, XXXX margin reflected have growth, proven market will strategy, X as Todd detail a through our quarter. to expansion track operational a of review updating flow we range clear guidance in a exceptional in more for of record the Please and which an from in the driving highlights cash and strong playbook Slide a later

we transform to which resilience share per Our and business power company on technology in of model sales premier and second pro delivered growth control of We motion forma a leader reflect the earnings continue and we into Altra quarter our the solutions. the initiatives X. of backlog Pricing results a contributions ratio, basis, of double-digit level as the offset industrial transmission excludes in a rates and across and serve, book-to-bill divested a resulted Order remain April the fifth this on JVS strong in strong that the effects quarter. markets surcharge inflation very business consecutive with we for the quarter. record

charge and if will we necessary. further and affected inflation how our will normal margin quarter. costs in levels. when the protect to explain margins, action to customers continue take will associated surcharges we to return that expansion actions the experience we margins surcharges Todd is commodity pricing additional implemented believe have more We We and moderating the

made During integration Nook of great the the quarter, portfolio progress engineered of added with we highly our products. to acquisition, our which

track with M&A on and implement synergies the is early targeted achieve the our and our balance and to debt with the ability low sheet people, net used testament JVS closed ended a We acquisition. systems the execute are our leverage of proceeds to thrilled and remain in We the on integrate identify, of value to and caliber came sale and and the to playbook a balanced to are technology that allocating adjusted down We with at end M&A thoughtful capital further leverage. our the for manner This our targeted to that high-value effectively quarter shareholders. -- net quarter We maintaining to pay optimizes reduce debt at leverage in X.Xx range. committed end our EBITDA strong the a opportunities.

like Our year, retaining capital returning and approved earlier $XXX in shareholders. M&A, and Directors to capital increased million our to balance cash, healthy priorities investing we allocation are in ability opportunities, Due and a our include confidence a of the Altra buyback in Board growth our organic dividend, program. share pursuing generate sheet our to unchanged our

chain and excellent market, IoT, year. long-term demand strength market optimistic very in in the with digitization, double were a factory attractive to driven farm up and specialty in and Garden. robotics. our our increased very in half sequentially. infrastructure combined and continued continued and of secular Garden, about ag. year-over-year very this business, which digits to is We're both Turf XX% XX% by We seeing management sales of farm up from with driven approximately represents and in strength this led digits Turf like sales in us, strong ag detail. business, expecting of of QX, Longer turning Now Garden fiscal modest of X the construction, We're remain Slide single global strength of the Turf attractive and by markets represents and an and trends like collaborative prospects automation which which industrial and In in growth about slow for remains to ag review half growth. more the the machinery, term, second Starting supply construction trends and expect QX global second and this by were spending start year-over-year, marketplace for population the year

on market, to were lifting Moving digits about Sales segments and well Material Handling, vertical the to conveyors, continued represents perform of across of forklifts single systems. sales up year-over-year. and which X% all including

is lower our about for which prospects Medical e-commerce, is driven this opportunity of positive trends very sequentially Altra XXXX, long-term attractive growth Material OEMs surgeries. the Handling were COVID equipment, mid-single anticipated leverage inventory outlook as market efficiency strong and sales continue restrictions trends normal surges year-over-year given very return spending easing of X% aging and by population to digits robotic the and and due rationalize noninvasive as down year. investment. We in are this improvements. We of a and in about about warehousing such as COVID secular to for we slightly growth to like of remain electrification levels the Sales a our and positive more

favorable as the year more have will comps through also progress we We prior year.

down which defense in outlook commercial head combined slightly The Sales with we more digits. offset was is and lower about positive is the on sales. by than into to strong defense, X% aero encouraging This double aerospace Moving improvement were is low aero overall, strength up defense backlog. as and with QX commercial of sales. a

of about of attractive business the of continuation lockdowns energy, the This was digits was to an our in slightly due sales, And sales in A&D Renewable Our a very represented in market. quarter as bookings sales position up entry. line increase and gas primarily X% oil to bottom double with XX% barriers contributor offset by in the a represents strong which and is which year-over-year strong important approximately a to momentum down distribution, margin competitive finally, digits was double continues. China. profile, double-digit high QX,

Our sales the market and this year. in anticipate solid in performance with general of track the the in economy, segment half a second in we industrial the line distribution fiscal

Turning to X. Slide

strategy a on activities, position optimize industrial I strategic advancing through our to remain long-term few premier manage we business a the company. As like would Altra's day-to-day note focused updates. to we as

to side, secular digitization high-growth and the trends the today's markets continue rates, In increasing macro take automization, with trends seeing align the environment, of proliferation populations sustainability. we we and leverage these Altra ride of as hold. several growth importance to the is of take organic Altra unprecedented system like that win business wave of and these Altra in enviable growth at tools and to our are On growing position confident we prominence in an are aging on

health multimillion approximately medical prototype the in generate care dollar $X the at we run saw As secured activity tool production quarter, also infusion in with the and customer segments, hand home systems an a during revenues orders market and for will new full future which a order rates. in example, medical industry in surgical million several the strong

And on of fit is and and funnel front, are candidates ultralight the defined remain M&A On prospects key ESG. the to a offer identify enabler market potential strategy that building foundational finally, attractive we acquisition disciplined our focused criteria. business

sustainability the report is in reduce we've our on impact on been the published business our priority more and our call, first environment. has ESG making. priorities noted to last As to we A year, provide the top on our earlier progress the visibility

customers improve our are committed products strategies help the innovative while the of and their to to As organization our a processes, global across we sustainability energy overall industrial impact. implementing help introducing also that leader, management, reduction global equipment reduce

in can collection assess gases and the data across we more establishing so critical and are compile reporting early footprint. data global robust our We consumption capabilities energy stages that of and greenhouse

manufacturer that, forward performance updated With important committed but you turn is appreciate, we progress. it's process, take can can our transparency keeping that around global issue. through you financial look one complex the we our through seeing improve very this As and guidance like are to as to update. this a Altra, that I'll a to Todd We details to we so you for call

Todd Patriacca

you, morning, and everyone. Thank good Carl,

XXXX, QX year-over-year. basis, did our organic impact we compared was JVS X. X.X% X.X% year. to top the up pro second QX were business of on are Slide growth that I'll forma quarter, with overall last we start grew sales last the line presenting excludes Please a quarter As closer sales the of pro basis, on XX.X% look reported year. turn financials divested In April performance. and we a forma our Total On compared a with X. which sales to the at I prior

of Excluding the pro quarter a impact contributed negative and points, had up on basis points of a FX basis JVS, basis. organic Price effect forma a basis. XXX XX.X% pro both forma sales XXX for were the on

income. operating impact significant revenues on a exited the These pass-through for Orders we however, quarter, strong million. with million. approaching the had during $XX remained and quarter no surcharges $XXX had the approximately record Additionally, on quarter, backlog totaling nearly costs, impact

Turning and organic sales the X.X% in Europe, to XX% North world. organic XX.X% in rest sales were performance Asia up pro our and of geography, by the in up America forma

Turning to our segments.

increase to operating increased success the QX to of well basis, of Non-GAAP operating sales second A&S up segment implement organic balanced XX.X% Excluding The the the was resilience and of the were up as which of QX non-GAAP segment A&S forma sales The were segment's forma our income as XXXX. inflationary compared impact sales offset A&S pressures. quarter as year-over-year. basis XX.X%, margin the QX was XX operating FX, basis compared the for the down increase year-over-year. pricing XXXX points segment's pro segment. income increased impact ongoing points organically. to for an to actions portfolio or non-GAAP both The of for efforts XX.X% for our QX compared X.X% to continues XX.X% within excluding increase a to pricing was operating XXXX. to XX companies of demonstrate income XXXX. XX.X% the The On surcharges, continues XX%, of operating PTT surcharges non-GAAP Pro income organic PTT margin an compared XX.X% was

decline XX.X% in and to company's operating overall profit to XX.X% pressures, XXXX. gross This compared copper. was around is initiatives offset forma surcharge QX used on primarily to Pro due to Moving primarily performance. non-GAAP inflationary the electronics

compared improvement to forma compared of Pro due Excluding approximately an income margins income forma initiatives. surcharge grew $XX.X behind non-GAAP points ago. million revenue year X last to to basis million when QX the to $XX.X basis gross XX.X%, operating QX points surcharge $XX a of million, operating XXXX. XX non-GAAP are the margin XX compared was profit to Pro year

pricing a surcharges, the continued and actions basis execution. of impact an the margins Excluding strong of operating XX.X%, were increase points XX result of as

XX.X% refinancing. to for improvements quarter X free XX% support our compared Even million to our $XX.X down we year-ago as though to million continued, our the in cash. flow Please leverage cash at capital turn net was the stabilization to the and to the lower look we XXXX. favorable million with due albeit quarter of in and during a year, Our and investments debt Capital to basis. invest $XX X.Xx. a year a We up be the cash for to would working flow balance end the QX due as the adjusted XX. inventory a LTM a totaled QX debt to than $XX.X on growth ended quarter prior Please more XXXX EBITDA pleased interest of free in with flow finished were the the pricing from Without leverage of of closer continued lower quarter Slide the expense to was strong expenditures compared liquidity. as X.Xx saw decrease prior million adjusted levels and November with quarter JVS cash result We operating turn compared Slide quarter Non-GAAP we underlying demand. sheet $XXX.X in non-GAAP in from see opportunities.

We expect out to our with LTM debt our of along future fluctuate as JVS our leverage continues EBITDA, to paydowns. roll

a plans ahead, our end of XXXX. X.XXx an debt for Slide leverage update and debt current on the the range. on XXXX approximately target for to of we well low dividend, expect basis Looking exit based continued to Please within our support outlook turn our of X on with to for XX paydowns net

this With towards work us, full XXXX as off the record-setting now we to fiscal first half financial we of targets. behind our progress build are year excited

sales XXXX. team's That to Although with of revenue our positioned of deliver and demonstrates to we what has excellent we divestiture, strong Altra execution, than million the year or fundamentals portfolio. business from improved the removed approximately in equivalent higher our JVS transformed annual $XXX demand performance full our reported

quarter ability environment macroeconomic by results this the to again we While demonstrate control. remains what can controlling uncertainty our uncertain, navigate that our

stay in and year contribution updated guidance of look adjusted will our we our as and challenging to As leverage like trends address leaning in facing. pricing, With for to of the to factory are range work is year, $X.XX million range ahead background, balance proactively the delays industry we the into full navigate customer EBITDA continue XXXX, to EPS annual $X.XX supply $X.XXX in of to competitors, billion. non-GAAP outperform to XXXX adjusted follows: we the JVS $XXX.X sales automation help our robotics we strive relationships of landscape Including while that of $X.XX. as range all $XXX.X to and the the strong the $X.XXX EPS billion in to range chain all our through diluted in to of Non-GAAP expect the $X.XX to the million. GAAP

non-GAAP adjusted million $XXX.X EBITDA related I to the XXXX, Notably, JVS to expect and diluted adjusted billion. the $XXX.X the range in $XXX billion the in to mentioned, $X.XX $X.XX higher annual sales contribution the range million. the expect $X.XX, Excluding to $X.XX despite million the compared or earnings in revenue in prior to to range to GAAP range non-GAAP of divestiture. the in of year be $X.XX we reset EPS of JVS equal EPS as of $X.XX we

CapEx backdrop, million remain guidance of to our not our $XX expect And the remains million range expenditure to the $XXX $XX of in slow we do capital depreciation the million. both despite expectations and and therefore, guidance $XX For scenarios, in our investment, to amortization million. economic range

everyone due in the XX%, adjusting to to million full to of our have in the on to updated no pass-through tax note or revenues year support the related we non-GAAP costs reflect rate have $XXX related not XXXX our are like and range year would and ongoing predicting, XX% of turn that forma free activities. investment strong recovery in adjusted to of difficulty the the operating XXXX Slide the experiencing growth to also we to I our demand understand the for impact versus are normalized guidance the We support provided help the half business, range Please pro better we lowering be million results. the a we income. comparison pro our included to XX. $XXX guidance to second would the have and To in costs surcharge are since flow cash forma

line EBITDA top digits. is of As power our EPS a business expect to underlying portfolio double strength demonstration adjusted This, low of Altra in the transformed the deliver you the growing growth can system. double-digit strong adjusted of the at see, while XXXX, and again, we and

we and Now pro assist last included turn we With ongoing you quarter, Slide a XX. please that, full back take to analysis table to call to the results to before your forma Similar I'll XXXX now Altra. turn of quarter have by Carl in questions. your year

Carl Christenson

to Thank please turn you, Todd, and XX. Slide

we Looking ahead, remain sustainable strong we by a deliver for our strategy as and dynamics, shareholders. Altra's optimize to manage position returns industrial to I premier continue -- near-term ever and company we we business guided as to strategy team, realities business technology navigate the as future through am of opportunities. the right and the as have position front in right Altra the us right as for confident that

of with We XXX%. open appreciate the fundamentals to to the to the to flow growth, we our margin your committed greater the serve and up of continued I noted expansion basis Jayson? XXX we call annual points like the -- organic And questions. are of support. at would than about healthy. conversion remain goals concerns As that, X% turn we long-term general cash free very and And markets business despite our outset X% call, the of the environment, economic

Operator

[Operator Michael Instructions] question comes Our Halloran first with Baird. from

Michael Halloran

your the is that surcharge part you So thinking is the the moving move. little side. ago the or of higher so? Todd, How a uptick guided is How door ability maybe just quickly on or out of sales were heard things, price? not underlying backlog side that of maybe than get demand I comments quarter a more to much much

Todd Patriacca

Yes.

updated and the top on surcharges the So in results. taken it we've year-to-date for the up impact guidance, line to related actual the the first,

that level the For the pricing, through get been part we to continue will year. of same seeing in pricing we've the first

important on the exchange playing FX. guidance think just rates. to And the to headwind shifted guidance. It's you we the in to a changes I where thing ago, note a million significant from it's just is $XX due another $XX million when compare quarter were

So continue than Mike, pace just year the headwind demand, of demand the backlog. on we that XXX a true And we've to to offset the basis, year-to-date On been is a at of over expect a that a remainder based points demand. unit basis. basis result able more as the volume through the year-to-date our on similar

Michael Halloran

I there the excluding back change today So I versus any year is maybe about piece quarter, you're how this, the excluding to FX should last of the half piece? the surcharge like thinking guess or and

Todd Patriacca

Yes.

I think is stabilization some seeing are we the that one the costs. thing in

more an in that in quarter half And the believe in growth as believe then more had will to said, we the were first impact XX% than if would you surcharges in believe seen we more will of basis. year, electronics, areas nature. where that we've see was take surcharges layer around range that similar million and utilize We we XX%, permanent the because then transitory permanent of you moderate overall year the previously back $XX That impacted actions area. half copper of So and most are continue cost in second nature. the another the we is on the pricing this we the

volume, If of by you of surcharges back is out be the and XXX the FX. price going it basis points rest to offset

Michael Halloran

think investments you're from now? just you highlighted the CapEx just your coming through. through sense. confident underpins -- Obviously, where more the you're Carl, perspective do you right Makes level right in color, now. coming on that? seeing what And But so some some maybe why more then the And on trends underlying areas thoughts confidence maybe the

Carl Christenson

we're quarter gas So backlog. good the in worth the $XXX first later cycle thing is worth have. about oil of rates of we nearly of the and months' That's got seeing work million backlog incoming X have typically backlog steel. when markets, backlog. and order and then six project We've And we mining,

is their able CapEx I result in or their overseas for activity in they automation decline So some those industry not that, not be lived robotics it's would thing plan to runs And it and tremendous short a going plan -- There's relatively of companies don't in is talked investment I've business. a say of there then And we're things being the that historically, the seeing that of labor. do think back there's I spending. once drive And going and that's CapEx discussions to reduce that as trying you to anecdotally reduce and other put then those have markets. later those industries to bring starts, to if on the automation our labor said find shortages, little to people from of top general the just cycle while. a even investments economic usually CapEx most to they the a stabilization in

that, that what's forecast and And short-lived see that if we So then economists some they've is there minor. there we a the decline, decline we work a and been we it would -- good going do is we if serve and on could that will customized third-party industrial us it's even part that it finally, be that storm the is does that on analytics the the of and pretty economic from our for relatively have markets we just if well. get even a weather utilize, that general the signs indicate data and that that world he

pointing So coming several points data conclusion. the to same all together

Michael Halloran

Carl. it, appreciate Really Great.

Carl Christenson

get about the surcharge year-to-date, Mike, I impact. if Todd, you million. think, I don't $XX it's it's know if worth, But

Todd Patriacca

it about million. $XX Year-to-date, Yes. is

point For just on basis margins to EBITDA impact a basis had through at and impact gross XXX about costs and the profit X on those margin. quarter, about customers point pass OP it our XXX as we

Carl Christenson

I'm confident it no when margin nice costs we now, margin to that moderate to cost and we're that they into we as combined have expansion have really with starting should surcharges start an longer price impact And those really already, reductions, on and increases the commodity see the see the effect. that put with

in got cash I've and also. flow margins the So confidence the

Operator

next from Our Jeff comes Hammond question with KeyBanc.

Jeffrey Hammond

Just input back know on the rolling surcharge dynamic, Like, are and surcharges Or seeing just I'm just are a those off? little you we down yet? come confused. costs don't

Todd Patriacca

No.

to side, the those albeit a offset higher on So much to costs. And expectation, of place put utilization in pricing combination permanent actions cost. inventory, to electronics surcharge as as we well decision We've now our the invest in made the offset may as at comes in any getting increases said, more online electronic capacity general than production. they had place put normalized the space, will they we we the start Carl and in increases costs, have return as price more more normalized permanent when

not the believe electronics. that sort further we -- to we're that pricing on nature right just a surcharges due could of gotten we So the that push to we point permanent go to felt these transitory that way we to even where were the and we've see going felt

Carl Christenson

don't have we guidance, the or cost in Jeff, either surcharges into built the side. the line the top But

Todd Patriacca

Correct. just That's a it through. right. flow Because will be

Carl Christenson

what know not do we and flow-through, a will be they to be. going just It's

for as we had They're there My which if down example, in starting So copper. surcharges guess through. them the copper an there's substantial look you that costs, and commodity to pass at just $XX we back range. is wild prices, in ass term. $XX the in a we'll million that half. My see to guess the be $XX that's million million technical -- a guess that's will the first the in is half come if But surcharges

Jeffrey Hammond

Yes.

Okay.

wanted A&S Is of So I seems certain lean some is to a to businesses? it this the unique to ask of be variability. businesses kind little because more about it to more

XQ the that in variability margin So again? -- XQ was say to

Carl Christenson

[ChefJet]. surcharges to are No, biggest I'm the say related to going

electronic get prices a to the our to made and so to they we and And do open buy at the in they so to were the chips that more market willing market they us. than and pass We make there product, supply could open gained those in for on customers when business some companies believe market organ share to were in and went drives to And made the and actuator some bought prices even We exorbitant conjunction and customers. chips we're them. controls an we on decision then it the that helped short. customers open chips decision we we going able our other get could chips. sure that And pay buy to with that of on aren't on

we're So on. that passing

biggest that's the So wildcard.

Todd Patriacca

to and know don't that. just the what have will take that be We those costs appetite might the customers

coming first more be verbal mentioned So slow be it that might term may we chips, we some of nearer some indicates normally online but least gotten like moderate. our Carl it would need at nearly hopefully, for and there getting should allocation, as not least confirmation for year, the things that what And in availability we have priced us. a at some

Jeffrey Hammond

Okay.

really function of a because margin surcharges is A&S were you like... in variability the for these So

Carl Christenson

That's surcharges. the

Jeffrey Hammond

You Yes. went [XX].

Okay.

just sounds then Okay. like... And it

Carl Christenson

the… think an I had impact the JVS business on

Jeffrey Hammond

Also, right?

Todd Patriacca

JVS. out Taking right. That's

Carl Christenson

Taking JVS. out

Jeffrey Hammond

Yes.

Just -- July there's trends order where so been into and the pretty seeing the markets incremental you through kind any of quarter have deterioration? stable? generally Are

Carl Christenson

has this But because get there. that saw business Turf they really we engines. deterioration is reason year. well can't done I'd Garden, the say and some We in

the can't of whole inventory don't place a bunch want they get and to in So engines. put

explainable. was one that So

the orders the that side, were -- that's We that in the it but side, out wind the on on market more little in -- -- pushed medical wind And came tools. orders were there but power -- On still really incoming I the strong. a China is strong. we was surgical was have mentioned order market bit, deterioration shipments pretty the European before pretty think inventory some solid. And

there I notably was think was if anything else, it weak.

I think that's..

Todd Patriacca

revenue. Right. orders really The We for lumpy. booked really kind that of of gets was future it's defense. only -- just nice in actually one kind some other And QX

still in it, comfortable very little us, with very it's got showed important defense still lumpiness market but some of a declines So it's a to bit quarter. space, in the the

Carl Christenson

seasonality down a say the normal bit. I'd see we And little summertime the for slows

say I'm not So I would panicking.

see, myself going gets are better know of able going we'll inventory last our and lead I it customers lot get built and think our We've our our going operating when a and I'm inventory. calls, I as again, to to back times to performance to to over not customers cut as performance performance, I come panic better. mentioned, couple see we down, the as I'm reiterate try of be have. to

my So I not end that's gets of inventory result decline our because going be of I me -- will And guys the to management. going panic going to build a better, expect -- a but a It's we're but it demand. remind end as market I of to will, know that demand. be not see -- it's me market to just because be told it's performance because

to, decline. there there's starts into off seems than too, like Now by have what economic everybody is every is an we Jeff, to decline. that It they're worse convincing going ourselves talk themselves that an we a right? say economic I'll risk, and be something time It this,

Jeffrey Hammond

to backlog. question Yes. stock. on feel That two need safety was I there's just there, guess start still and where dynamics people my better last less

backlog kind the and up, order second you they to maybe your half? guys this start in some is you normalization like expectation able see to bit then that So a being peak of And less. little catch is

Carl Christenson

that, backlog chip our we seen the businesses, we're stabilized. in due have we've -- probably starting or net also late of on away our later starting it little neutral And still late but we're cycle some it businesses and to past businesses. improvements we're I'd just a monitor to couple at a made backlog and Yes, say growing bit. backlog it's

Operator

are [Operator Instructions] There closing so the back for no call more pass team the remarks. to management questions, over I'll

Carl Christenson

in you like we you call. for and us weeks speaking many Okay. thank today's Thank time, I'd to with to just this look forward the today, again concludes for all and joining of you ahead. your

Operator

conference the you for participation. That Thank concludes your call.

now You may your lines. disconnect

Altra Industrial Motion (AIMC) 30 Jul 222022 Q2 Earnings call transcript