R.R. Donnelley & Sons Company (NYSE:RRD) Q4 2019 Earnings Conference Call - Final Transcript

Feb 26, 2020 • 11:00 am ET

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R.R. Donnelley & Sons Company (NYSE:RRD) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Welcome to the RRD's Fourth Quarter 2019 Results Conference Call. My name is Brad, and I'll be your operator for today's call. [Operator Instructions]

I'll now turn the call over to Johan Nystedt, Senior Vice President of Finance.

Executive
Johan Nystedt

Thank you, Brad, and thank you, everyone, for joining RRD's Fourth Quarter 2019 Results Conference Call. Joining me on today's call are Dan Knotts, RRD's President and Chief Executive Officer; and Terry Peterson, our Chief Financial Officer. At the conclusion of today's prepared remarks, Dan, Terry and I will take questions. As a reminder, we have prepared supplemental slides for today's call, which can be found on the Investors section of our website at rrd.com. As we review fourth quarter and full year results on today's call, we will reference page numbers from the supplemental slides for those participants who wish to follow along by advancing the slides themselves. The information that will be reviewed during this call is addressed in more detail in our fourth quarter press release, a copy of which is posted on the Investors section of our website at rrd.com.

This information was also furnished to the SEC on the Form 8-K we filed yesterday. Throughout this call, we will also refer to forward-looking statements, including comments on our financial outlook and strategy, all of which involves risks and uncertainties. Therefore, our actual results could differ materially from our current expectations. For a complete discussion of the factors that could cause our actual results to differ materially, please refer to the cautionary statement included in our earnings release and the risk factors included in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other filings with the SEC.

Further, we will discuss non-GAAP financial information. We believe the presentation of non-GAAP results provides investors with useful supplementary information concerning the company's ongoing operations and is an appropriate way to evaluate the company's performance. These non-GAAP results are provided for informational purposes only. Any references to non-GAAP financial measures are reconciled to the comparable GAAP financial measures in the Investors section of our website as part of our press release.

I will now turn the call over to Dan.

Executive
Daniel L. Knotts

Thanks, Johan. Good morning, everyone, and thank you for joining us. 2019 was a solid year of performance for RRD, driven by the ongoing execution of our key strategic priorities to strengthen our core, drive revenue performance and improve our balance sheet flexibility. Across the year, we took meaningful actions in each of these areas, including divesting of our global document solutions in research and development businesses, exiting the Brazilian market, further rationalizing our operating footprint, completing asset sales and aggressively managing our cost structure. At the same time, we delivered revenue growth in our strategic product categories, expanded our capabilities through new technology-focused services and successfully deployed our industry-leading platform to expand client relationships and win new logos.

We also delivered an increase in adjusted income from operations and operating margin versus last year, and we