Foundation Building Materials, Inc. (NYSE:FBM) Q1 2020 Earnings Conference Call - Final Transcript

May 12, 2020 • 08:30 am ET


Foundation Building Materials, Inc. (NYSE:FBM) Q1 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Foundation Building Materials First Quarter Conference Call. [Operator Instructions]

It is now my pleasure to introduce your host, John Moten, Vice President of Investor Relations for Foundation Building Materials.

John Moten

Good morning, and thank you for joining us today for our first quarter 2020 conference call. Joining me today are Ruben Mendoza, our President and CEO; John Gorey, Chief Financial Officer; Pete Welly, Chief Operating Officer; and Kirby Thompson, Senior Vice President of Sales and Marketing. Last night, we issued our first-quarter press release and slide presentation for today's call, and we have posted these materials on the investor relations section of our website at under the events and presentations section. Our prepared remarks and answers to your questions this morning may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.

Forward-looking statements address matters that are subject to risks and uncertainties, which may cause actual results to differ from those discussed today. Example of forward-looking statements include remarks about COVID-19 impacts on the business, future expectations, beliefs, estimates, plans and forecasts, as well as other statements that are not historical in nature. Forward-looking statements discussed today relate to our acquisition strategy and integration, our e-commerce strategy, our greenfield expansion strategy and performance, our ability to gain leverage in our business and our ability to increase market share and expand into new markets. As a reminder, forward-looking statements represent management's current estimates.

We assume no obligation to update any forward-looking statements in the future unless otherwise required by law or the listing rules of the New York Stock Exchange. Listeners are encouraged to review the more detailed discussions included in our filings with the SEC regarding various risks, uncertainties and other factors that could cause actual results to differ materially from those indicated or implied by these forward-looking statements. Additionally, during today's call, we will discuss non-GAAP financial measures, which we believe could be useful in evaluating our financial performance. Other companies may calculate these measures differently, and our presentation of these non-GAAP measures should not be considered in isolation or as a substitute for measures prepared in accordance with generally accepted accounting principles or GAAP.

A discussion of how we calculate these non-GAAP measures, which includes net debt leverage ratio, adjusted EBITDA, adjusted net income and adjusted earnings per share, as well as a reconciliation of each of these measures to the most directly comparable GAAP measure, can be found in our earnings release, which has been furnished to the SEC and is available on our website.

With that, I will turn the call over to Ruben.

Ruben Mendoza

Thank you, John. Good morning, and thank you for joining us for a review of our first-quarter results. Before we discuss our first-quarter results, let me share with you an overview of how we are managing the COVID-19 pandemic. In March, we launched a business continuity effort to safeguard our team members, customers, suppliers and the communities we serve.

We've also taken proactive