Whirlpool Corporation

Good morning and welcome to Whirlpool Corporation's third quarter 2022 earnings release call. Today's call is being recorded. For opening remarks and introductions, I would like to turn the call over to Senior Director of Investor Relations, Corey Thomas.

Thank you and welcome to our third quarter conference call. Joining me today are Mark Bitzer, our Chairman and Chief Executive Officer, Jim Peters, our chief financial officer, and Joe Liatini, our chief operating officer. Our remarks today track with a presentation available on the investor section of our website at whirlpoolcorp.com. Before we begin, I want to remind you that as you conduct this call, we'll be making forward-looking statements to assist you in better understanding Whirlpool Corporation's future expectations. Our actual results could differ materially from these statements due to many factors discussed in our latest 10-K, 10-Q, and other periodic reports. We also want to remind you that today's presentation includes non-GAAP measures. We believe these measures are important indicators of our operations as they exclude items that may not be indicative of results from our ongoing business operations. We also think the adjusted measures will provide you with a better baseline for analyzing trends in our ongoing business operations. Listeners are directed to the supplemental information package posted on the investor relations section of our website for the reconciliation of non-GAAP items to the most directly comparable GAAP measures. We have also provided additional information related to inventory, demand, and fixed costs that will not be regularly provided or updated in future quarterly earning materials. At this time, all participants are in a listen-only mode. Following our prepared remarks, the call will be open for analyst questions. As a reminder, we ask that participants ask no more than two questions. And with that, I'll turn the call over to Mark.

Thanks, Corey, and welcome, everyone, to our third quarter earnings call. As you can see from our agenda on slide four, we plan to discuss today more than just our third quarter results. We are operating in unprecedented times, and we do feel it is necessary and helpful for investors to broaden the time horizon of today's call beyond Q3 and take a step back to reinforce our long-term strategy, as well as our perspective on favorable mid- and long-term consumer demand trends. In the first agenda item, we will discuss the Q3 results in detail. You will see that short-term consumer sentiment and consumer demand are clearly reflective of a recessionary environment. But at the same time, input costs, which you would expect to come down in a recessionary environment, are still elevated. Needless to say that this combination impacted our Q3 negatively. In the second agenda item, we will show you that Whirlpool has a strong track record of successfully managing crew recycles. We're laser focused on ensuring we have the strongest business, irrespective of the rapid changes in the macro environment. We have and we will continue to take action early and decisively, and we have done so again this quarter. Beyond the current recessionary challenges, we strongly believe in the favor of the mid- and long-term demand tailwinds, in particular in North America. And our business is very well positioned to win in its attractive post-recession setup. We will cover this in the third agenda item. And finally, in the fourth agenda item, I will provide an update on our portfolio transformation, which is well underway as we continue to move towards a high-growth, high-margin business. But first, I'll turn it over to Joe to review our third quarter results in more detail.