Reliance Worldwide Corporation Limited (RWC) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Reliance Worldwide Corporation half-year earnings call. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Heath Sharp, CEO. Please go ahead. Good morning, everyone. Welcome to RWC's Financial Year 2026 Half Year Earnings Call. This is Heath Sharpe. I'm joined here in Atlanta by Andrew Johnson, our CFO. Today, we'll cover our results for the six months ended 31 December 2025. Then we'll move to Q&A. Before I get into the numbers, I want to recognise the effort behind this half. This has been a demanding period. The results are in line with the tariff impact we forecast, but they're not at the level we aspire to deliver. Notwithstanding, they required tremendous execution to achieve. Our teams have worked incredibly hard. I am very proud of their efforts. They have navigated an ever-changing tariff environment, with discipline and speed and they've continued to progress major strategic initiatives at the same time. That combination matters and it positions us very well as markets recover. With that, let's get started on slide three with some details on the first half. We continued to face headwinds during the period. US tariffs impacted earnings and margins. End markets in the US and UK remain soft. As we previously guided, the FY26 tariff impact on operating earnings is expected to be $25 to $30 million. That impact was weighted to the first half and that is reflected in today's results. Even in this environment, we delivered strong cash generation. Cash flow remained a key strength of the ...