Milacron Holdings Corp. (NYSE:MCRN) Q2 2019 Earnings Conference Call - Final Transcript

Jul 30, 2019 • 08:00 am ET


Milacron Holdings Corp. (NYSE:MCRN) Q2 2019 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Milacron Holdings Corporation Fiscal 2019 Second Quarter Financial Results. [Operator Instructions].

It is now my pleasure to introduce your host, Andy Kitzmiller, Corporate Controller for Milacron. Thank you, Mr. Kitzmiller. You may begin.

Andy Kitzmiller

Good morning and thank you for joining us for our second quarter fiscal year 2019 earnings call. With me on today's call are Tom Goeke and Bruce Chalmers. A copy of the earnings release that was distributed this morning can be found on our website under the Investors section. We will also provide a link for the replay of this webcast. During our call today, we will be referring to the earnings release supplemental slides which are also posted on our website.

I'd like to remind everyone that today's discussion will contain certain forward-looking statements based on the business environment as we currently see it and as such does include certain risks and uncertainties. Please refer to our press release and our SEC filings for more information on specific risk factors, that could cause our actual results to differ materially from the projections described in today's discussion.

Any forward-looking statements that we make on this call are based on assumptions as of today and we undergo no obligations to update these statements as a result of new information or future events. Also, we will discuss certain non-GAAP measures on today's call, including pro forma net sales and pro forma new orders. The pro forma figures included within today's presentation exclude certain product lines, which have been eliminated through restructuring plant closures or certain discontinued product lines. We believe the presentation of these non-GAAP financial measures enhance the understanding of our performance. Reconciliations to comparable GAAP financial measures can be found in our earnings press release and are also available as part of the presentation materials posted on our website.

Finally, consistent with our first quarter 2019 call. The reported results that we will discuss on today's call will be from continuing operations as we moved our blow molding business to discontinued operations at the end of our first quarter 2019. With that, I'll turn the call over to Tom Gokey, President and Chief Executive Officer of Milacorn.

Tom Goeke

Thank you, Andy. And good morning. As Andy mentioned, we have a slide presentation on our website to accompany our earnings call and it includes additional details to the commentary presented this morning. Starting on page three. I'd like to walk everyone through the highlights of the previously announced merger with Hillenbrand. However, our discussion today will be limited to the details on this slide. We will not be taking any questions related to this transaction and we refer everyone to the presentation made by Hillenbrand on Friday, July 12, 2019, as well as the related SEC filings by both companies.

Our board carefully and thoroughly reviewed the strategic and financial merits of this combination and unanimously concluded that this transaction represents a unique opportunity for Milacron and provides our shareholders significant and immediate value.