MSC Industrial Direct Co. Inc. (NYSE:MSM) Q2 2020 Earnings Conference Call - Final Transcript

Apr 08, 2020 • 08:30 am ET


MSC Industrial Direct Co. Inc. (NYSE:MSM) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning and welcome to the MSC Industrial Supply 2020 Second Quarter Conference Call. [Operator Instructions]

I would now like to turn the conference over to John Chironna, Vice President of Investor Relations and Treasurer. Please go ahead.

John Chironna

Thank you, and good morning, everyone.

Erik Gershwind, our Chief Executive Officer, is on the call with me. We are remote, so bear with us. If the call drops, we will dial back in, of course.

During today's call, we will refer to various financial and management data in the presentation slides that accompany our comments as well as our operational statistics, both of which can be found on the Investor Relations section of our website.

Let me reference our Safe Harbor statement under the Private Securities Litigation Reform Act of 1995. Our comments on this call as well as the supplemental information we are providing on the website contain forward-looking statements within the meaning of the US securities laws, including guidance about expected future results, expectations regarding our ability to gain market share and expected benefits from our investment and strategic plans, including expected results from acquisitions.

These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these statements. Information about these risks is noted in our earnings press release and the Risk Factors and the MD&A sections of our latest Annual Report on Form 10-K filed with the SEC as well as in our other SEC filings. These risk factors include our comments on the potential impact of COVID - 19. These forward-looking statements are based on our current expectations, and the Company assumes no obligation to update these statements. Investors are cautioned not to place undue reliance on these forward-looking statements.

I'll now turn the call over to Erik.

Erik Gershwind

Thank you, John. Good morning, everybody, and thank you for joining us today during these unprecedented times.

Let me begin by expressing my best wishes to you and to your families to stay safe and healthy. COVID - 19 is, no doubt, top of mind for all of us right now. So before we get into the quarter, let me start by sharing with you an overview of how we're dealing with this issue. We've launched a Companywide business continuity effort to help us navigate the business through this period of uncertainty. As you can imagine, it's getting our leadership team's full attention right now and we are in constant communication with our stakeholders, our associates, our customers, our suppliers, as we contingency plan for what is likely to be an extended disruption to the economy.

Our number one priority is the health and safety of our associates and their families, our customers and our other partners. So those associates who can do so are working from home, particularly in our corporate functions. As we are an essential business, we are continuing to operate our customer fulfillment centers or distribution centers. So those associates continue to be on premises serving our customers.