Acuity Brands, Inc. (NYSE:AYI) Q2 2020 Earnings Conference Call - Final Transcript

Apr 02, 2020 • 10:00 am ET

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Acuity Brands, Inc. (NYSE:AYI) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning and welcome to Acuity Brands' Fiscal 2020 Second Quarter Financial Conference Call. After today's presentation, there will be a formal question-and-answer session. [Operator Instructions] Today's conference is being recorded. If you have any objections, you may disconnect at this time.

Now, I would like to introduce Mr. Pete Shannin, Vice President, Investor Relations and Corporate Development. Sir, you may begin.

Executive
Pete Shannin

Good morning. With me today to discuss our fiscal 2020 second quarter results are Neil Ashe, our President and Chief Executive Officer; Karen Holcom, our Senior Vice President and Chief Financial Officer; and Ricky Reece, our Executive Vice President and President of Acuity Brands Lighting. We are webcasting today's conference call at acuitybrands.com.

During this call, we will also discuss certain non-GAAP financial measures. Reconciliations to comparable GAAP financial measures can be found in our second quarter press release and 10-Q SEC filings.

I would like to remind everyone that during this call, we may make projections or forward-looking statements regarding future events or future financial performance of the Company. Such statements involve risks and uncertainties such that actual results may differ materially. Further, forward-looking statements speak only as of the date they are made and we undertake no obligation to update publicly any of these statements in light of new information or future events. Please refer to our most recent 10-K and 10-Q SEC filings and today's press release, which identify important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements.

Now, let me turn this call over to Neil Ashe.

Executive
Neil M. Ashe

Thanks, Pete. Good morning, everyone. I'm pleased to be with you today to talk about Acuity. Obviously, we all wish the global context were different right now. We are embarking on the next generation of Acuity. As we start on that journey, we are dealing with the shocks caused by the COVID-19 pandemic. As we manage through the current situation and begin to change our Company for the future, we do so with a strong financial footing, with a market-leading position in our core business, and with the strong team to navigate the Company through this.

Given that we're new together, I want to outline what we will cover today. First, I will give you some perspective on our second quarter performance and Karen will go into more detail about the financials. Then, I will cover how we prepared for and how we are handling the shocks related to COVID-19. I will provide you with some of my initial observations of the Company, talk to you about digital transformation, and give an outline of who I think Acuity is and can become. For consistency, we will continue to discuss the business and present metrics that you've traditionally seen for at least the remainder of this fiscal year. Following our opening comments, Ricky Reece will join us for the Q&A period.

Our second quarter performance was a mixed bag of continuing trends with several signs of improvement. After a