FTD Companies, Inc. (NASDAQ:FTD) Q3 2018 Earnings Conference Call Transcript

Nov 07, 2018 • 05:00 pm ET


FTD Companies, Inc. (NASDAQ:FTD) Q3 2018 Earnings Conference Call Transcript


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Thank you for standing by. This is the conference operator. Welcome to the FTD's Third Quarter 2018 Earnings Conference Call. As a reminder, all participants are in a listen-only mode and the conference is being recorded. After the presentation there will be an opportunity to ask questions. (Operator Instructions)

I would now like to turn the conference over to Katie Turner with ICR. Please go ahead, Ms. Turner.

Katie Turner

Thank you. Good afternoon, and welcome to the FTD Companies third quarter fiscal year 2018 earnings conference call and webcast. With me today on the call are Scott Levin, President and CEO; and Steve Barnhart, EVP and CFO.

(Forward-Looking Cautionary Statements)

Also please note that on today's call, management will refer as to a non-GAAP financial measures including adjusted EBITDAs, free cash flow and constant currency comparison. The company believes these non-GAAP financial measures provide useful information for investors. Please refer to today's press release or definitions and calculations of these non-GAAP performance measures as well a reconciliations of the non-GAAP performance measures to the company's GAAP financial results.

Now, I'd like to turn the call over to Scott Levin.

Scott Levin

Thanks, Katie. Good afternoon, everyone and thank you for joining us on today's call. I will start with a brief business overview, then Steve will discuss our third quarter financial results and provide an update on our financing activities and our outlook for 2018 and 2019. Finally, Steve and I will be available to take your questions.

I'm excited to assume the role of President and CEO as announced today. It's an honor to work with our dedicated team every day. I look forward to leading FTD with our seasoned executives, including Steve Barnhart, Jay Topper, Tom Moeller, Rhys Hughes, Dale Perrott and Elizabeth Cimaroli. I am working closely with these business leaders to improve our operations and execute on our strategic objectives. We strive to provide best-in-class customer service to visitors to our floral and gifting websites and best-in-class tools and support to our member florists. Because of all of the hard work of our employees and member florists, FTD remains a leader in the floral and gifting industry with widely recognized consumer brands and a global system and network. In fact, during the third quarter, FTD officially celebrated our 108th anniversary as a company.

We are pleased that our third quarter results are consistent with our expectations and we believe we are on track to achieve the full year outlook we provided in early October. Our organization has made progress on the continued optimization of our business to drive efficiencies and reduce costs. We believe these cost reductions along with our technology investments create a solid foundation for us to build upon as we execute on strategies to increase our marketing effectiveness, in order to drive consumer demand, strengthen our floral and gifting brand propositions and help us return to growth in 2019. We are also pleased to have amended our credit facility earlier this week with the support of our