Aegion Corporation (NASDAQ:AEGN) Q1 2020 Earnings Conference Call - Final Transcript

Apr 30, 2020 • 09:30 am ET


Aegion Corporation (NASDAQ:AEGN) Q1 2020 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the Aegion Corporation First Quarter 2020 Earnings Call. [Operator Instructions]

It is my pleasure to turn the call over to your host, Katie Cason, Senior Vice President, Strategy and Communications. Katie, you may proceed.

Katie Cason

Good morning, and thank you for joining us today. On the line with me are Chuck Gordon, Aegion's President and Chief Executive Officer; and David Morris, Aegion's Executive Vice President and Chief Financial Officer. We issued a press release yesterday that will be referenced during the prepared remarks on this call. You can find a copy of our press release and our Safe Harbor statement on the Investors section of Aegion's website at During this call, the company will make forward-looking statements which are inherently subject to risk and uncertainty, particularly given the unknown impact of the current COVID-19 pandemic and the company's response to these evolving circumstances. The company does not assume the duty to update forward-looking statements.

With that, I'm pleased to turn the call over to Chuck Gordon.

Charles Gordon

Thank you, Katie, and good morning to everyone joining us on the call today. The state of the world has changed significantly since our last earnings call nine weeks ago. The COVID-19 global pandemic has been like anything most of us have experienced in our lifetime. Communications and companies across the globe have been forced to respond to a crisis for which there was no playbook readily available. I'm pleased with how well Aegion has been able to navigate the impacts of this crisis to date and including our ability to deliver first quarter results that exceeded our expectations going into the year. These results are a testament to the hard work and commitment of all of our employees concerned about our ability to continue operating when stay at home orders begin to emerge. We were fortunate that all of our business is qualified as essential services under federal COVID-19 response guidelines published by the Cybersecurity and Infrastructure Security Agency. While this designation grabs us the permission to continue working, we also had to prove to ourselves and to our customers that we can continue to keep the health and safety of our employees and communities as our highest priority. Within days, our safety team developed and began executing against the pandemic response plan, which was broadly distributed to our customers. We performed hazard assessments at each of our job sites to identify risk areas, primarily high-touch areas and took steps to reduce the risk in each activity.

We implemented many new safety processes, expanded disinfection and sanitization activities on our equipment and at our facilities and led a robust education program on personal hygiene practices. All field crews provided proper personal protective equipment. Most crews are comprised of fewer than six employees are able to practice social distancing on the job site, where activities do not allow six feet distancing, face mask and shields are required to reduce the spread of infection. In some cases, we've had to upgrade