ESAB - Earnings call transcript Q2 2024

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Operator

Thank you for standing by. My name is Amy, and I will be your conference operator today. At this time, I would like to welcome everyone to the ESAB Second Quarter 2024 Earnings Conference Call. [Operator Instructions] It is now my pleasure to turn the call over to Mark Barbalato, Vice President of Investor Relations. Please go ahead.

Mark Barbalato

operator. Thanks, Second Call. ESAB's XXXX Quarter to Earnings Welcome This Shyam Kambeyanda; joined by and CEO, our President and morning, I'm CFO, Kevin Johnson.

as mind forward-looking assume during or to required results may in non-GAAP are any intend filings call by release and forth With our statements, obligation to keep presentation. update reconciliation that and any mentioned release. the SEC of these Please earnings Actual earnings statements slide respect in making our are including we and risks, those subject be differ, today's accompanying financial the except measures to measures are the forward-looking those set today, to press some we related do found today's law. information and can in not

the like over CEO, I'd President and turn Kambeyanda. that, our to Shyam to call With

Shyam Kambeyanda

Thank for all achieve We quarter, growth and Thank flow. towards product you, joining another record cash morning, by mix us while positive and Mark, strong everyone. toolkit to delivered revenue our EBX organic our highlighted We you margins good improving utilized today. equipment.

net benefiting lowering markets that and we a markets. developed to was well by that we strong It is leverage another high-growth our ratio important highlight to result, executed delivered softness in and closed from As our on results X.X, acquisition. moderated exposure

cash to improve the find and new bar, While I'm growth, encouraged that our by our progress, margins we're raise confident we'll avenues far from satisfied. continue I'm expand for flow.

of the has the me Street the towards mission world quarter belt our been diving last Maybe we the into just has Z you generation. team tool Gen Wall Before passion of our time, read numbers, dubbed article last some share the Journal where like shaping let imagine.

next of with and a personal see note, the team's the for have day our of I'm to Here, time proud very the engage welders. connect last way on generation. to this ESAB resource train and as X generation every We years, and contributions a led next more I

American we the being teamed first upon the with established They're completion. I've on nonprofit youth up apprenticeship focused metal stipend here large-scale apprentices organization public their that for an who a Society's meet hip chance program the upgrading of skills. generation trains Welding featured Welder welders the next prepared Students York project, New to are year, creating to hop, a and They around Underground, City. a program certification are Underground's during receive Welder to had nonprofit projects. This of structure is their part currently apply through innovative apprenticeship empowerment. which celebrating current public

It has of thrilled continue pathways mission in to of been collaboration shaping upcoming stories be imagine industry our more to to truly part the we're calls. employment the and trades. world reinforce this this see of the I provides unique to and and it reflect passion share the that heartwarming we as for will impactful impact in initiative, our

the to specifics the X and discuss to performance. our Moving Slide quarter of

well. our earlier, I As continue mentioned execute teams to

efficiency provide that focused levels several on-time have processes, solutions. developing delivery, and EBX customer leveraging products We're comprehensive driving designing data our years, Over and the been increasing tools customers our and and past innovative we service improve our analytic with retention to on workflow enterprise. greater AI across

developed moderating all organic achieved that of business offset high-growth in at, a improve and positive on conditions We we aspects control our markets, particular. business. of are While in control. in our about intend the backdrop, to know markets. we're reflecting focused the continued growth strength we X%, We what as second our cannot we're Talking in economic by quarter good

points focus This EBITDA automation growth driven cobot. XXX Adjusted cyclical updated equipment favorable to XXX mix and our strong our points with to automation in our EBITDA a XX.X%. executing team increased and with drive a single-digit portfolio our Notably, in best-in-class margin adjusted less performance gas basis products. record on control experienced equipment was by basis strategy mission-critical double-digit by expanding year-to-date high and and we growth by margins

our Sager to which EBX, strengthen continue We're LEAN This us improve sheet. acquisition and cash our excited the detail acquisitions initiatives discuss welding flow AI and on generation will in ] business journey compounded builds [ shortly. of acquisition about and in recent SUMIG. enabling balance recent our more of allowing to Bangladesh, Linde's I

this thank towards and our to commitment work, take dedication associates moment for their goals. our me Let delivering hard long-term

look progress the we've we to back Moving our to at submit is made. In quarter spite I and I'm challenging half of this proud our markets, ability our first results XXXX, and a reflect to It focus end that. the as of execute Slide X. the of testament

cyclicality business have We our teams our less reduced on new markets. the product focused line simplification, and product of through end introductions cyclical

to continues on I've positive to a feedback to had products. channel equipment new be partners, our chance our and significant there speak

past demonstrated goals. the Over bifocal long-term achieving both and we short-term years, consistently leadership X have

We solution have how helping slides, capital monitoring with our protected and see In growth upcoming initiatives. is leadership grow faster. us and our R&D in associated you'll investment digital analytics

Our margin-accretive acquisition to pipeline demonstrated strong, is strong ability less cash flow, businesses. continue believe our and acquire we and we generate to with can cyclical

highlight our to X digital Slide strategy. to Moving

digital InduSuite portfolio. are We strengthening solutions continuously our

allows needs analytics. FlowCloud quarter, to track solution. our gas full provide and monitoring while gas our workflow This us our product, a their digital which allows set customize we're FlowCloud to monitor to customers consumption, access customers new allowing limits, flow launching upgraded

Let me bit color. you give a more

business. a provide to report on gas management gas fully company help integrated gas business pressure, flow, gas and to consumption use secure to lead This is partnerships new gas and to manufacturers. with the measure case control monitoring system Our recently a a partnered with with further outages. key expected OEM We partnered manufacturer them

InduSuite, strength, our allows up metal. XX% within differentiate filler digital in solutions ESAB been for year-over-year, gaining also equipment $XX has creating million licenses solutions to Digital and FABTECH which itself. sales pull-through over

a years, formidable Over globe. the last around the capability built R&D X we've

have I've just we're revamped so gas our future. getting portfolio, strengthened equipment started. excited our and before, we're And our entered said control about faster-growing business We markets, as

X our third Slide the Moving this X to to year. talk latest about acquisition,

our We the the Linde's geographic FABTECH are acquisition excited about cements population as significant a region. of and million Bangladesh. in our This single acquisition builds position next position a in a in this projected gap high decade fills This and welding over addition company of growth India particularly offers growth approximately XXX and leading the with business in Asia Bangladesh fast-growing the Southeast on GDP Asia. in ESAB digits leadership opportunities.

market. into to Bangladeshi this significant We by synergies extract ESAB expect selling equipment attractive

remind business accretive growth. with with margins a significant million is opportunities for Let $XX EBITDA you, additional this me

Turning to Slide X.

Let's quarter. discuss the performance in the

automation basis which initiatives mentioned, growth. saw the expanded previously grew enterprise, As single-digit sales our XXX initiatives efficiency. basis driven traction across and year-over-year for points XXX high are by equipment Adjusted and organic XX.X%, driven our gaining EBX performance in AI EBITDA strong to record by businesses, a points, further

was and from Moving with and price our by performance our ability to our gain improve towards points, equipment Slide share basis our X% additional on gas an X% great driven It I execute sales pleased mix equipment. volume. growth sales the XXX the control, strong for am to of to team see Americas, and strategies Americas quarter. in organic X. In automation grew

end We markets. also benefited from highly to having cyclical less exposure

XX.X%. adjusted margin, EBITDA drove price and which basis discipline record in of points expansion focus a XXX reached Our

the X, which performance Moving regions. to our EMEA Slide of APAC highlights and

execution Volume sales Our the metal strong of delivered East performance. by XXX was solutions. demand while our Asia a softened. Europe, teams points in and This and workflow offset basis Middle by equipment automation operating increased filler European

in high-growth Let me mention strength markets. see again, to we continue

Our team's pricing year-over-year discipline operating and net by expand efficiency XX.X%. margins basis points adjusted enabled us in to EBITDA XXX to

let on Slide me to XX. positive that it On note, Kevin hand

Kevin Johnson

XXXX. We the to morning, successfully everyone. good quarter. improvements had and XX% drive terrific cash half continues up flow Shyam, first in which another Thanks, in was EBX of

our ] using this strategy. are improved [ support cash XXXX to flow We

Firstly, we're to and our are investing that mix equipment organic making growth improving our share. support taking investments

are our by with per cash of out net And Linde, Secondly, second $X.XX the XX% accretive, strong ESAB's flow margin X.Xx. Colfax in we strongest leverage delivering the quarter we today fast and to is that acquisitions in share. since only sheet spun fund to dividend increased position like growing, balance Bangladesh. of thirdly, bolt-on

positioned drive successfully higher strategy. execute even [ flow compounder cash continue year to to XXXX and We ] our are well

Moving now to Slide #XX.

line, We continued and have the Shyam updated discussed, core our top guidance full our as markets sales growth of high-growth on flat organic year guidance reflect to developed changes moderating strength reflects markets. in

due Linde, controllable. Bangladesh dollar headwind on of acquisition, flat, from growth controlling FX stronger point U.S. on focused of the our and to a to M&A team additional volume expect is a the We price be point X.X

improved initiatives, and to additional cash conversion restructuring expense points margins at track. product by improvement million the EPS is benefiting $X due of increased and a Adjusted basis EBITDA from new has benefits on our remains to interest EBX remains lower Adjusted guidance XX.X%. This unchanged, mix from projects. flow of midpoint XX

With hand to to that, XX Slide let Shyam wrap me up. on back

Shyam Kambeyanda

we you, performance. second reflected strong quarter Kevin. operating to our well in execute summarize, as a To Thank in environment challenging continue

higher We execute deliver is the less and continue to Today, AI enterprise, margin allowing drive better balance compounded flow, flow our us strengthening ESAB margins toolkit. cyclical, to generating to adding stronger sheet across EBX a our business to strategy. cash our and cash while

XXX% flow of moving EBITDA conversion. XX-plus XXXX cash towards our percent goals of billion are confidently $X We in and revenue, margin free

a with of a We ahead lot of business focused runway team a focused us. have and

let's that, With for questions. line the open operator,

Operator

Baird. [Operator from Instructions] comes Mig line Dobre of Our with first the question

Mircea Dobre

environment here. or thought to drove able of the there bit different guidance geographic than months from we a a Congrats are highlight you'd of I be But had in guess to Obviously, that for Shyam, to on little some provide? us callouts your question, you end first bit know thoughts has love you adjustment some perspective, in that good your hear little what are tougher. I'd a your more growth maybe progressing terms markets that kind ago. of maybe that the X quarter my gotten

remainder your risk are some year, maybe some a or remaining puts as -- offsets seeing you to maybe forward at time, what the same thinking? are to Where for and And for of the look you of the for downside potential the the that. takes

Shyam Kambeyanda

the Yes, thanks for question.

for So about volume us, you, growth, an and extraordinary both positive we posting to strong quarter. execute. was felt I world capability performance agree the great the in ESAB, the the of gives rest that confidence really team's us with From Americas a

we You're the our the quarter. We for backdrop. against sort couple EPS a full EBITDA percentage our improved things right. of obviously of maintained We this guidance did One, year.

a on markets and and think of feel sort the that's point about line, slowed from start our moderated a in at really the year we QX. what about in we rest to us that we this the that found top little to sort the And then point had of bit drove time. developed is And what guide then of confident

to it's similar Now got off also have behind to it quarter. second we important state the July where very us, that ended started and we

us confidence stay So we But extent, up. some about some slowdown it Europe did then ag yellow about the energy seen the bit. particular, in forecast that gives to yes, stay fact and a you've in also talked auto up. little We've see in defense goods, the stuff we've that, seen

all So mixed us that the it's talking points bag to all, in we're that flattish sort a about. number of

Mircea Dobre

about be cash shape guess deals that I evolving the starting follow-up whether how I'm here flows it. here, year-to-date. sheet larger and and think to sheet balance or good to is increasingly should is Then able my balance X as and your to done -- you've support deals curious pipeline given not be in Sure. maybe we your .

Shyam Kambeyanda

Mig. Yes,

on I business. sort think higher-margin our We've topic and talked disciplined. cyclical, solid that creating is about less a of view

the flow. set with the And is second of probably of cash And like characteristics gross first that margins be so at. great above look that's we'd to the we lenses X XX%

our back a off So out of But of half of both. of to. cash nothing those of closing that along chance we sort coming these the some at in do gets past out sets that put we're we always things have said, there getting not ratio, funnel us takes we year, there our where number with of we've and on looks the lenses acquisition that front look of plenty going we've think want do X deals a that some to That have to being of out got acquisitions for. we've done there flow prospects to be Obviously, X this but got leverage that in good.

Operator

next comes Nathan with Your Stifel. from question Jones

Nathan Jones

and more of consumables Just equipment interested did was. from. consumables a as from second on couple weaken little a the kind stabilization start well. we It it where of the stay and first. just think to with and now that the here? than quarter about were say in like weaker we've how see you you to follow-ups progress taken you sounds do of a stability? is risk continue . how talked product rest like Do some progressed then bit down But Doug, saw I'm the you stable that it into weakness kind side to there's downtrend expect of where year July. Or And saw of you that coming a maintain perspective we you step it the

Shyam Kambeyanda

Yes.

I script as well, the think mentioned it I in Nathan.

associated flux slowing see lines it wire talked I side a filler the auto think then of side it to things. flux about when our in and bit. of Europe lot metal, with product strength of we the did we wind especially cored a But came

was we piece and a looked of sort was -- that the good. it So there that moderated piece

think that also it. across I market yes, are the today in not the are So there's positives that downturn, a interesting it's -- board. marketplace of the part about There the but a there's offsetting is bit downturn

that to XX the now industrial I've years. I've probably thing first been that's and in So close noticed, is

I it everything. on student not were term feels surely left sort use USC if the that So it's now of body to

is think it. a piece see here I on issue we for that the us balanced

with portfolio. were business and the a we metal always today, behind our ago, hand full then And We've a around saw dividends, portfolio. playing got our about with our that filler standard we've back right? just X strategy years equipment X And equipment we fact talked pay

gain there, continues. the and driving great that not think a We to been is sell in developed product existing customers, for markets, in are our exciting markets, and interest developing front. just to particular And that able through The us. equipment but share story the equipment on out that's line we

we if is just to done a to As our new the and how we and our in big different with at different of do -- if capabilities I've we've out end little metal, there lot spent did a sales mentioned and bit you that, I as the to We the filler ESAB. be teams teams for share same behind of point this have a very very before, business sales in equipment a work We kind a last incentive sales showing them transformation. understand exercise around of dividends. to change plans of to our that's around year train portfolio, able get to sell equipment add

Nathan Jones

in a share that should share ESAB. to the is not ask build the what people with but the to and something rest business in the XXX into the world single-digit grow on I'll in there you guess what it material market just follow-up really what opportunity lot I is drive versus there, for acquisition. to Can more you for With of that's your for ESAB gains is about ESAB. a talk growth, million opportunity think market Bangladesh be GDP high of there

Shyam Kambeyanda

us haven't specific us how channel equipment it in and #X way has the of we're by spot, to Yes. consumables today, in confident ESAB it both lead our that consumables market but is that the positioned then similar for lot a in dedicated equipment about sold very well, puts we here view But and and is is very the talked that able spot the are that of lead equipment. us far. Bangladesh. to sell in entering puts And business aspect a I share where is India great being first, we information, think

is The my upgrading us, synergy mentioned along through equipment you the in growth even control if the and of high are the and opportunities consumables gas opportunity at and ESAB selling opportunities consumables I maintenance with And call, for for as so the significant. look repair to significant. alloy

so that And about really opportunity. excited we're

Linde, with. And metal business some call begin known what some filler but this, we to of may the supplying you to in have were ingredients key we Bangladesh

speaks of to and July. Calcutta can language obviously to and And off the that of India great we're good already mobilized is familiar. we a start Bangladesh close very is So have and they're team a well in aware out in that -- market, very that

So really excited about that business.

Nathan Jones

margin the more talk I that of the X of even terms in you you world. just could on get pricing. then net dynamics And in rest the in seeing inflation down [indiscernible] positive X% APAC about margin in terms there price versus if price you're Can Americas what EMEA the still are with -- segment in on and down. contribution, of

Shyam Kambeyanda

those value is are a net If short ESAB that our value That's for you ESAB. that metrics and right. That key The is familiar metrics. of significant answer is for a drivers important price drivers. with

so measure basis. that we And on monthly a

positive is price regions. both Net in

steel of both seen prices have slightly pricing versus yes, the differently also We different being the to in but other contributing hence, on net position But different sides aspects. the geographies. the you see And Americas move margin positive price into expansion, rest the world.

activities. We continue our to lean do

to I all shift in X mix the geographies. contributed both continue -- submit expansion so We that would margin to

Operator

comes JPMorgan. question Tami Zakaria next with from The

Tami Zakaria

to the on acquisition and see exciting. that should Linde Great slide be Bangladesh

couple questions. a So of

versus is first about where Can frame the versus us that guide. And help organic within think flattish volume, the and fourth third flattish price how guide last the to quarter? X quarter. has growth you expectations quarter changed The

Kevin Johnson

Yes.

second So Tommy, ESAB as year also the half flat for the of said volume full and price earlier, on expecting and today's for the year. call we we're in

to similar volumes to line price stay what comments through segments in of in Americas, about Shyam's saw similar progress the expecting to as things positive we the we're the in the QX QX expected year. we very terms rest with and and In flat very of we're expecting

we margins nicely, have you pockets staying continue we've do with to price we're the toolkit of our QX, in half. as we aspects of just down the use expect we're go good moving the of Key on, through we EBX because for we to summer third holidays. in control net our in through would into as sequentials, we forward show disciplined as European step quarter, of in really the growth But nobly the terms net up. And sure got year. step APAC, us the And see flat share can stepped negative we price. to the and price toolkit. second drive that EMEA with continuing the and we expecting volumes as as will make And In you market rest step that is largely gaining

Tami Zakaria

Got it. color. That's Got it. helpful very

So in question see Infra the announced the would potentially your other thoughts to distribution the are -- leading I is color there, helpful. you Mexico I wanted in players Any market? Mexican the what have the -- the just who with agreement group think be get on there

Shyam Kambeyanda

position strong mentioned our I've getting start ESAB ways think executive actually able a we one what out relationship, Infra is The we larger significant. The in relationship But Mexico. and not drive just relationship with equipment. an partnership a potential the of team in to a started. continue I out hard in some is a given both there. for goods of a is to positive direction us have products, We've to numbers do metal distributors before them Mexico. pull actually in build were that in filler of has and through the to region any is

in also We relationship. and ESAB Mexico from reshoring. the build benefits think Mexico benefits this infrastructure out think We

And got Tami. so start, it's and early days, good momentum, of been a we've but a positive lot it's

question year. a sometime maybe better So next

Vladimir Bystricky

of comes David from Your Raso next line the with question Evercore.

David Raso

you're curious, around an inventory. inventory and . end 'XX? the is into expecting give Can the globe the heading and where currently year you that was to channel us update how I the

Shyam Kambeyanda

answer is interested in did and end hear the in inventory Nordics. that in buildup Always The particularly Yes. Europe, a that specifically from you. is our prepared were as check, of quarter, there to we no just sort were the of early in check actually question the that answer good of in particular. Thanks, the short second did Dave. And channel. sure We fact, we make to to we for that as Germany

was there surprise particular answer good prospects any buildup markets. growth in inventory the so no And back on bet was actually those a that was that preventing

North answer in significant similar a channel for buildup. America, there And us a inventory isn't that

news that the and in immediate product our drive equipment on good our methodology if to there said, with there so EBX front. with uptick drive pull-through gain, share any is our to But share the out and an should proven through wallet to that channel bridges teams growth And partners. the line market, that there's drive we being are particular of new see

David Raso

I drag growing maybe the Middle And EMEA I nicely. But curious You it, mentioned within specifically? right. East just update doing markets, us I'm Europe All are missed Europe assuming . on right? the you the apologize. declines what is that, still Can APAC high-growth India,

Shyam Kambeyanda

Yes.

We that the number took the the math is is is renewable haven't of and with do in Europe, single-digit that markets double-digit business largest think Europe of given you being I the specific performed relative in say but and part basis declines the in goods kind down. growth of the out, sort business in part of the India that which But Middle metal down sort yellow to East. for energy way most. could around out then automotive our of that of we strength of the defense. and us But And piece is out really a on the strength biggest filler saw X that

David Raso

that of And that's EMEA, clarification in? aggregate, sorry, the between second half about year, and I sales comment the kind of to earlier X.X% of the Americas. an the organic just Can you for the year. decline a APAC half second from baked split the X% missed the

Kevin Johnson

Yes.

and said in as second we saw on price, APAC, year. similar positive David, a flat to and then EMEA quarter the of the the step similar through to in you expecting Americas, the as negative in what So rest think And flattish mean, volume volumes we saw the we is second what I price the what we're quarter. I expect to be

the within price of positive levels in to of fairly similar both the you similar sort on So of X terms of saw volume I second in sort what that negative at businesses look to X quarter. and

Operator

question your Oppenheimer. next with Bryan comes And Blair from

Bryan Blair

in if performance on a little specialty I your detail offer color control and the quarter. are if in between execution there and solid some or the the Apologies in more any quarter whether Very differences of but could medical? here, gas call-outs missed wondering business notable in industrial trend you and

Shyam Kambeyanda

Yes.

gas So also actually, business, of performance solid HVAC. out control our benefiting from the and energy transition

some Europe so good the specialty the we on in extent And on is also the the medical semiconductor. in really saw to Americas. really side saw then good We and gas industrial sciences -- life And a benefiting exposure. the which same with performance performance some side, from

for the us bit is to in flow a talking propositions our result improve strong of space, I and our business pull-through. about spent that that digital the of and gas their a piece continue And benefited value managing customers trying we really as also little for proposition facility, second to create our in then time their solutions that that

we strong all, in the second control gas building year. us the all for its the business for So there on that half of strength in business, position see and

Bryan Blair

and dynamics detail prospects somewhat Linde offer we on question should as Sager given gate. perhaps near longer and versus also little I then as about And a a to SUMIG integration specifically channel and on Bangladesh. how of the you synergy those the follow-up was term could little performing of deals are what more a Nathan's elaborate on think and hoping term

Shyam Kambeyanda

Yes.

but kind to closed of the just SUMIG acquisition we it hasn't So yet. announced, calibrate

fourth expect to latter We time it part the the close of in some quarter.

off is actually well. and a to -- doing So good We're start. Sager

out this business. team America I had visiting. that a review the have week particular South for we XXX-day just fact, In in

We were looking associated synergies executed at and team a with We've those. sales actually on lot consolidation. of footprint

there. a to off great we're So start

On It leadership was that we sort in geography position. in to the the fills a are interested piece really be that wanted we about, I of it Linde that right? side, out very a talked

are. We

had And a we've very businesses is to as past you historic about so picked position And up the know, ESAB business, the where in we're a had some that thrilled record have when in give channel. history, has you strong that the region. just

have this case, has so been And for business in and those Bangladesh in decades established channel decades. the and particular that many particular Linde over

and or And is Bangladesh that before, we it have in to we something Bangladesh. so repeat in India and expect this done in

So in market was of control and broad gas our set only that consumables. pulling equipment through products selling a

And so coming we initiatives the as side see significant operating a manufacturing through lean implementing synergies as amount well at on plan. and of based the growth synergies EBX on

Kevin Johnson

still Yes. through quarter. deal. end closing our the going the And at is close of we're SUMIG, we on that would of fourth Bryan, process it And expectation . current that the

Operator

Loop your Dankert comes with Capital. question Chris next And from

Christopher Dankert

you provide the little detail? margin Maybe here, year I Encouraging back could could restructuring side in a on there the on detail of start we for just bit more you going actions in on out cost the the a higher implied operating guess, what's called I Any little some bit. to know see the deck. the year? half

Shyam Kambeyanda

to Why then off and it I'll don't I hand start Kevin.

talked is the that -- about every of them of start then data about always and we've our activities within briefly business, the And that analytics. talked associated facility net of with with we year EBX, do actions a set our lean the think AI efficiency talked I of pricing things improving we some using we've our businesses the at we've about initiatives. X

efficient us a SG&A the with these of as more less of is be that a so lot for idea actions. result some And we can here

you And Kevin, you aspects. execution and on see our reading so the did want those exactly in to our what out add. performance this is quarter

Kevin Johnson

Yes.

positive see that -- we we where So Chris, where the had of we expected ahead when X there's sort of year. buckets and momentum, we're started we

having The projects, an are strong that of we've first a had we improve expected of improving got margins. commercial our talked a been benefit to also The which margins. seeing funnel, benefit we significantly, number EBX. the is execute where We've ahead has program excellence on which on and the and mix a of had earlier is is that able about

larger had We've benefits accelerating project restructuring particular benefit additional we're And we this that to a where then drive around increased year of factory million, from looking further few in baked finally, a X restructuring, $X year. finish in a do before but million of this we an on that projects, and we that's projects. by $XX can million we consolidation, $X believe

Christopher Dankert

was locations Or acceleration an I was it That it, this plans? the just actually here. at of additional have consolidation. I had you Is curious Got we previous it. point? the on as factory to follow-up expanded framed

Kevin Johnson

No.

We long-term have that were start at year. at factory planning We're we strategy starting accelerated of of additional to this of and those a which really we end benefit. is the consolidation not which in driving only terms projects, one

Operator

Mig question the Baird comes Dobre And with again. next from

Mircea Dobre

Just quick for me. a X

Looking your some products, the stock progress equipment of maybe far your North running side as in is this America, specifically I'm to partners product. portfolio. U.S., new tailwinds wondering I maybe how at having remember as talking of starting are you as out about the rolling channel some

can 'XX. half I'm there, outgrowth of quick going year in this of or a even back wondering if update still source be and into this So the maybe

Shyam Kambeyanda

launched light teams we've our market North been new set we Yes, make. industrial with American have how that into very performing of the actually are the with pleased products

what but it We monitor we it, basis, haven't what like we a you is on numbers and shared tell we see. exact can I monthly that on

as and that digital our happening conversions with for it. launches of result the portfolio of their and yellow actually a HIP seen of to OEMs InduSuite aspect some we've that with shop floor is on us the WellCloud new are other The

industrial and take adaptive for We've us, along we've wind had hold. seen that technology cloud we where the customer at introduced FlowCloud, heavy our with another come machinery welding new well

So industrial process-focused excitement ESAB the channel. light in automation, lot of a into side on all all, the around

performance our together, Really like come we think Americas. of that to sales plans. I how in brought team the their they've intensity proud has that the

amount tell growth wallet, with What to of good clear for America North can forward. discipline you, continues with that plans with the drive bridges clear customers, I great margins really but targets, clear share of in look a

Operator

at Barbalato. this turn like ahead. I'd go further call no to Mr. questions are back time. Please the over There to

Mark Barbalato

look we and you to us, Thank again forward quarter. to you speaking for next joining

Operator

This concludes today's conference call.

disconnect. You may now

ESAB (ESAB) 2 Aug 242024 Q2 Earnings call transcript