Newell Brands Inc. (NASDAQ:NWL) Q4 2019 Earnings Conference Call - Final Transcript

Feb 14, 2020 • 08:30 am ET

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Newell Brands Inc. (NASDAQ:NWL) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning, and welcome to Newell Brands' Fourth Quarter 2019 Earnings Conference Call. [Operator Instructions] As a reminder, today's conference is being recorded. A live webcast of this call is available at ir.newellbrands.com.

I will now turn the call over to Nancy O'Donnell, Senior Vice President of Investor Relations. Ms. O'Donnell, you may begin.

Executive
Nancy O'Donnell

Thank you. Good morning everyone, and welcome to Newell Brands' Fourth Quarter Earnings Call. On the call with me today are Ravi Saligram our President and CEO; and Chris Peterson our CFO and President, Business Operations.

Before we begin, I'd like to inform you that during the course of today's call we will be making forward-looking statements, which involve risks and uncertainties. Actual results and outcomes may differ materially. I refer you to the cautionary language and risk factors available in our press release and our Form 10-K and 10-Q for a further discussion of factors affecting these forward-looking statements.

Please also recognize that today's remarks will refer to certain non-GAAP financial measures, including those we refer to as normalized measures. We believe these non-GAAP measures are useful to investors, although they should not be considered superior to the measures presented in accordance with GAAP.

Explanations of these non-GAAP measures and reconciliations between GAAP and non-GAAP measures can be found in today's earnings release and table as well as on Newell's Investor Relations website.

Thanks for your attention. I'll turn the call over to Ravi.

Executive
Ravi Saligram

Thank you, Nancy. Good morning, everyone, and welcome to the call. I'm pleased to be with you today to discuss our strong fourth quarter results, and to share my observations on the encouraging progress the Company has made in 2019. I recently have completed my first 100 days with Newell Brands, and I understand the challenges we face in our turnaround as well as the strengths of the organization.

I'll first discuss the progress we made in 2019, give you a sense for our priorities in 2020, and then turn the call over to Chris to discuss fourth quarter and our 2020 outlook. 2019 was an important year of inflection for Newell. We made significant strides against the five pillars of the turnaround plan, which include; returning the Company to sustainable and profitable core sales growth, expanding operating margins through productivity and overhead savings, accelerating cash conversion cycle through working capital transformation, strengthening the portfolio of brands and businesses in which we compete, and build out a winning team.

I'll start with the last bit, a winning team, because I firmly believe that the most important foundation for a successful turnaround and for enabling a company to return to its full potential is to build the right leadership team. Newell has dedicated and passionate employees who want to win. With the right leadership in place, we can maximize their potential and drive better outcomes through clarity of direction, removing barriers and focusing the right people on the right things.

We're also optimizing our organizational structure. We believe that given the diverse nature