Emergent BioSolutions, Inc. (NYSE:EBS) Q4 2019 Earnings Conference Call - Final Transcript

Feb 20, 2020 • 05:00 pm ET

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Emergent BioSolutions, Inc. (NYSE:EBS) Q4 2019 Earnings Conference Call - Final Transcript

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Operator
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Emergent BioSolutions Incorporated Fourth Quarter 2019 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference to your company to begin. Please go ahead.

Executive
Robert G. Burrows

Thank you, Joelle, and good afternoon, everyone. My name is Bob Burrows, Vice President of Investor Relations for Emergent. Thank you for joining us today as we discuss the operational and financial results for the fourth quarter and 12 months of 2019. As is customary, today's call is open to all participants. And in addition, the call is being recorded and is copyrighted by Emergent BioSolutions.

Participating on the call with prepared comments will be Bob Kramer, President and Chief Executive Officer; and Rich Lindahl, Chief Financial Officer. Other members of the senior team are present and available during the Q&A session that will follow our prepared comments. Before beginning, during today's call, either on our prepared comments or the Q&A session, management may make projections and other forward-looking statements related to our business, future events, our prospects or future performance.

These forward-looking statements are based on our current intentions, beliefs and expectations regarding future events. We cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Any forward-looking statement speaks only as of the date of this conference call, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances.

Investors should consider this cautionary statement as well as the risk factors identified in our public reports filed with the SEC when evaluating our forward-looking statements. During our prepared comments as well as during the Q&A session, we may also refer to certain non-GAAP financial measures that involve adjustments to GAAP figures in order to provide greater transparency regarding Emergenct's operating performance. Please refer to the tables found in today's press release regarding our use of adjusted net income, EBITDA and adjusted EBITDA, and the reconciliations between our GAAP financial measures and these non-GAAP financial measures.

For the benefit of those who may be listening to the replay of the webcast, this call was held and recorded on February 20, 2020. Since then, Emergent may have made announcements related to topics discussed during today's call. You are once again encouraged to refer to our most recent press releases and SEC filings, all of which may be found on the Investors homepage of our website.

And with that introduction, I would now like to turn the call over to Bob Kramer, Emergent BioSolutions' President and CEO. Bob?

Executive
Robert G. Kramer Sr.

Thank you, Bob, and good afternoon, everyone. Thank you for joining the call today. In my comments this afternoon, I'll provide a brief recap of what was accomplished during 2019 and then turn to our strategic plans and expectations for 2020 and beyond.

As we look back at the year just completed,