Ashland Global Holdings Inc. (NYSE:ASH) Q4 2019 Earnings Conference Call - Final Transcript

Nov 19, 2019 • 09:00 am ET


Ashland Global Holdings Inc. (NYSE:ASH) Q4 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Ashland Fourth Quarter Earnings Call. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Mr. Seth Mrozek, Director of Investor Relations at Ashland. Please go ahead, sir.

Seth A. Mrozek

Thank you, Liz. Good morning everyone and welcome to Ashland's fourth quarter fiscal 2019 earnings conference call and webcast. My name is Seth Mrozek, Director, Ashland, Investor Relations. Joining me on the call today are, Bill Wulfsohn, Ashland's Chairman and Chief Executive Officer; Guillermo Novo, Ashland Director and Incoming Chairman and Chief Executive Officer; and Kevin Willis, Senior Vice President and Chief Financial Officer.

We released preliminary results for the quarter ended September 30, 2019 shortly before 5:00 PM Eastern Time yesterday, November 18th. The news release issued last night was furnished to the SEC in a Form 8-K. During this morning's call, we will reference slides that are currently being webcast on our website under the Investor Relations section. The slides can also be found on the Investor Relations section of our website. We encourage you to follow along with the webcast during the call.

Please turn to Slide 2. As a reminder, during today's call we will be making forward-looking statements on a number of matters, including our outlook for fiscal year 2020. These forward-looking statements are subject to risks and uncertainties that could cause future results or events to differ materially from today's projections. We believe any such statements are based on reasonable assumptions, but cannot assure that such expectations will be achieved. Please refer to Slide 2 of the presentation for a fuller explanation of those risks and uncertainties and the limits applicable to forward-looking statements.

Please also note that we will be referring to certain actual and projected financial metrics of Ashland on an adjusted basis, which are non-GAAP financial measures. We will refer to these measures as adjusted and present them in order to supplement your understanding and assessment of the financial performance of our ongoing business. Non-GAAP measures should not be considered a substitute for or superior to financial measures calculated in accordance with GAAP. The most directly comparable GAAP measures as well as reconciliations of the non-GAAP measures to those GAAP measures, are available on our website and in the appendix of today's slide presentation.

Please turn to Slide 3. Bill will begin the call this morning with his opening comments and then introduce Guillermo. Guillermo will then provide a summary of his background and commentary on what he has learned over the recent months. Next, Kevin will review financial results for the fiscal fourth quarter and full year fiscal 2019. Finally, Guillermo will close with his priorities as incoming CEO and his outlook for Ashland's continuing journey. We will then open the line for questions.

With that, please turn to Slide 4, and I will turn the call over to Bill for his opening comments. Bill?

William A. Wulfsohn

Thank you, Seth, and good morning everyone. I'd also like