Spectrum Brands Holdings, Inc. (NYSE:SPB) Q4 2019 Earnings Conference Call - Final Transcript

Nov 13, 2019 • 09:00 am ET


Spectrum Brands Holdings, Inc. (NYSE:SPB) Q4 2019 Earnings Conference Call - Final Transcript


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Good morning. My name is Zetania and I will be your conference operator today. At this time I would like to welcome everyone to the Spectrum Brands Fiscal 2019 Fourth Quarter Earnings Conference Call. [Operator Instructions] As a reminder ladies and gentlemen this conference is being recorded today Wednesday November 13. Thank you.

I would now like to introduce Mr. Kevin Kim with Spectrum Brands. Mr. Kim you may begin your conference.

Kevin Kim

Thank you Zetania. Welcome to Spectrum Brands Holdings' Fiscal 2019 Q4 Earnings Conference Call and Webcast. I'm Kevin Kim Divisional VP of Investor Relations and moderator for today's call. To help you follow our comments we have placed a slide presentation on the event calendar in the Investor Relations section of our website at www.spectrumbrands.com. This document will remain there following our call. Starting with slide two of the presentation. Our call will be led by David Maura Chairman and Chief Executive Officer; Doug Martin Chief Financial Officer; and Randy Lewis Chief Operating Officer. After their opening remarks we will conduct the Q&A session. Turning to slides three and 4. Our comments today include forward-looking statements include our outlook for fiscal 2020 and beyond. These statements are based upon management's current expectations projections and assumptions and are by nature uncertain.

Actual results may differ materially due to that risk. spectrum brands encourages us to review the risk factors and cautionary statements outlined Our press release data today, November 13 2019. And our most recent SEC filings and spectrum brands holdings most recent 10 Q and 10 K, we assume no obligation to update any forward looking statements. Also, please note we will discuss certain non GAAP financial measures in the call. reconciliations on a gap basis for these measures are included in today's press release and AK filing, which are both available on our website.

I will now turn the call over to David Moore.

David M. Maura

Thanks very much Kevin. Thanks everybody who's joining us on the phones today. Look good morning. I'm extremely pleased to update everyone today on our progress. As we stated 12 months ago the goal is to stabilize our company in 2019 and position it for growth in 2020. And today we are confirming that. We have stabilized our business in 2019 and we are returning to profitable growth in 2020. We ended fiscal 2019 on a very strong note. The fourth quarter in fact reflecting the best quarterly top and bottom line year-over-year growth of the entire year giving us significant momentum as we enter 2020. We also have a significantly stronger balance sheet. We have a tremendous amount of liquidity. And we delivered on our full year adjusted EBITDA expectations. Our management team is focused on delivering stability. We focused on delivering stability in '19 and we emphasized the importance of execution investment and with the resetting of our Home & Personal Care appliance business despite the added challenges in 2019 of tariffs the difficult selling season for our Home & Garden business