Carbon Black, Inc. (NASDAQ:CBLK) Q2 2018 Earnings Conference Call - Final Transcript

Aug 07, 2018 • 05:00 pm ET

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Carbon Black, Inc. (NASDAQ:CBLK) Q2 2018 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen and welcome to the Papa John's Second Quarter 2018 Conference Call and Webcast. (Operator Instructions) As a reminder, this conference is being recorded.

I would now like to introduce your host for today's conference, Steve Coke, VP and IR and Strategy. You may begin.

Executive
Steve Coke

Thank you, Gigi. Good afternoon. Joining me on the call today are President and CEO, Steve Ritchie and our CFO, Joe Smith. Steve and Joe will have comments about our business and provide a financial update. After the prepared remarks Steve, Joe and Mike Nettles, our Chief Information and Digital Officer will be available for Q&A.

(Forward-Looking Cautionary Statements) Finally, we ask any media to be in a listen-only mode. Now I'd like to turn the call over to Steve Ritchie for his comments. Steve?

Executive
Steve Ritchie

Thank you, Steve, and good afternoon, everyone. As you know, recent weeks have been challenging. On today's call, I'm going to discuss the action that are underway to address these issues. I'll also update you on the progress we are making against the five strategic priorities we announced earlier this year. I want to emphasize two key points at the outset.

First, we are committed to taking all appropriate steps to ensure that our corporate values of equity, inclusion and respect are upheld throughout the Papa John's organization. Second, our Board and management team are very confident in the future of this Company. The independent directors of the Board and our management team are aligned on the areas where we need to improve performance. We are confident that the successful execution on our five strategic priorities together with our cultural initiatives will enable us to reestablish trust with our customers and communities and deliver on our performance objectives. While over half of my 22-year career at Papa John's has been in the field and on the front line, as a customer service representative, a franchisee and a restaurant manager, I have seen first hand, the dedication and the depth of our team. We are not dependent, nor should we be on one person. Quality people and quality pizza have been and always will continue to be the foundation of our success.

Along these lines, I have spent a significant amount of time in recent weeks in the field, talking with our franchisees, our customers, our drivers, and employees. These stakeholders have expressed strong support for the actions we are taking, both as it relates to our corporate culture and our brand as it relates to improving how we operate and connect with consumers. Specifically franchisees and partners have expressed overwhelming support for our new advertising and marketing campaign and our decision to remove John Schnatter as brands spokesperson. As we will discuss later, we expect to aggressively roll out our new advertising and marketing campaign in the fourth quarter. Improved financial performance will take time, but the support of our franchisees and partners, the clarity of our mission and our long record of quality leadership in the