PetIQ, Inc. (NASDAQ:PETQ) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 04:30 pm ET


PetIQ, Inc. (NASDAQ:PETQ) Q3 2019 Earnings Conference Call - Final Transcript


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Good afternoon and welcome to the PetIQ Third Quarter 2019 Earnings Conference Call. [Operator Instructions] After today's presentation, there will be an opportunity to ask question. [Operator Instructions]

I would now like to turn the conference over to Jeff Sonnek. Please go ahead.

Jeff Sonnek

Good afternoon and thank you for joining us on PetIQ's third quarter 2019 earnings conference call. On today's call are Cord Christensen Chairman and Chief Executive Officer and John Newland Chief Financial Officer. Susan Sholtis will also be present and will be available for Q&A. Before we begin please remember that during the course of this call management may make forward-looking statements within the meaning of the Federal securities laws. These statements are based on management's current expectations and beliefs and involve risks and uncertainties that could differ materially from actual events and those described in these forward-looking statements. Please refer to the company's annual report on Form 10-K and other reports filed from time to time with the Securities and Exchange Commission and the company's press release issued today for a detailed discussion of the risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today.

Finally, please note on today's call management will refer to certain non-GAAP financial measures including adjusted gross profit adjusted G&A adjusted net income and adjusted EBITDA among others. While the company believes these non-GAAP financial measures will provide useful information for investors the presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Please refer to today's release for a reconciliation of the non-GAAP financial measures to the most comparable measures prepared in accordance with GAAP. And in addition PetIQ has posted its third quarter 2019 supplemental presentation on its Website for reference.

Now I would like to turn the call over to Cord Christensen Chairman and Chief Executive Officer.

Cord Christensen

Thank you Jeff, Good afternoon everyone. I will start with an update on our business and the recent acquisition of Perrigo Animal Health then provide an overview of our financial highlights including the progress we have made in our Follow the Pets long-term growth plan. John will discuss our Q3 financial results and 2019 outlook in more detail. Finally Susan John and I will be available to answer your questions. PetIQ has executed on significant initiatives including three acquisitions to increasingly evolve our business model and our team since our IPO just two years ago. Our strong foundation combined with these acquisitions has made our competitive mode significantly deeper and wider. All of our accomplishments have been focused on our mission of becoming the leading pet health and wellness company delivering smarter options for pet parents to help their pets live their best lives through convenience and affordable access to veterinarian services and products. As a first mover in bringing low cost veterinarian products and services to over 60000 retail points of distribution and ecommerce sites PetIQ