The Greenbrier Companies, Inc. (NYSE:GBX) Q2 2020 Earnings Conference Call - Final Transcript

Apr 07, 2020 • 11:00 am ET


The Greenbrier Companies, Inc. (NYSE:GBX) Q2 2020 Earnings Conference Call - Final Transcript


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Hello and welcome to The Greenbrier Companies Second Quarter of Fiscal Year 2020 Earnings Conference Call. Following today's presentation, we will conduct a question-and-answer session. Each analyst should limit themselves to only two questions. [Operator Instructions] At the request of Greenbrier Companies, this conference call is being recorded for instant replay purposes.

At this time, I would like to turn the conference over to Mr. Justin Roberts, Vice President and Treasurer. Mr. Roberts, you may begin.

Justin M. Roberts

Thank you, Misty. Good morning, everyone and welcome to our second quarter of fiscal 2020 conference call. On today's call, I'm joined by Greenbrier's Chairman and CEO, Bill Furman; Lorie Tekorius, President and COO; and Adrian Downes, Senior Vice President and CFO. They will provide an update on Greenbrier's near-term priorities as we manage to the COVID-19 pandemic. And then we will discuss the results for the second quarter. Following our introductory remarks, we will open up the call for questions. In addition to the press release issued this morning, which includes supplemental data, additional financial information and key metrics can be found in a slide presentation posted today on the IR section of our website.

Matters discussed on today's conference call includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Throughout our discussion today, we will describe some of the important factors that could cause Greenbrier's actual results in 2020 and beyond to differ materially from those expressed in any forward-looking statement made by or on behalf of Greenbrier.

And with that, I'll pass it over to Bill.

William A. Furman

Thank you, Justin and good morning, everyone. As we begin, I want to take a moment to extend good wishes for the health of everyone on the line with us today. I also call out the work of the many health professionals, emergency responders, government officials and individuals who are on the frontlines battling this pandemic and those in our armed forces and National Guard around the world and here in America.

Finally, I thank all the Greenbrier employees in our factories, offices and at home, each now operating under essential industry status. The world is not only in a severe health crisis, but obviously an economic crisis affecting businesses differently. As you will hear today, the ability to continue to operate our factories with a strong backlog in hand allows us to protect liquidity and maneuver in a way other industries and other businesses cannot under current circumstances.

We're now operating under two essential priorities. Number one, to provide for the safety and security of our workforce. And number two, to provide for the liquidity and economic wellbeing of the enterprise and its shareholders. In the face of this pandemic, management priorities and behavior immediately shifted to the extraordinary challenges at hand. We quickly implemented contingency plans and assembled incident response teams. We assessed the risk to our business in real time and are taking swift actions to ensure Greenbrier is defensively positioned to manage through a period that