The Home Depot, Inc. (NYSE:HD) Q1 2020 Earnings Conference Call - Final Transcript

May 19, 2020 • 09:00 am ET


The Home Depot, Inc. (NYSE:HD) Q1 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to The Home Depot First Quarter 2020 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Isabel Janci. Please go ahead.

Isabel Janci

Thank you, Christine, and good morning, everyone. Joining us on our call today are Craig Menear, Chairman, CEO and President; Ted Decker, Executive Vice President of Merchandising; and Richard McPhail, Executive Vice President and Chief Financial Officer. Following our prepared remarks, the call will be open for questions. Questions will be limited to analysts and investors. And as a reminder, please limit yourself to one question with one follow-up. If we are unable to get to your question during the call, please call Investor Relations at 770-384-2387.

Before I turn the call over to Craig, let me remind you that today's press release and the presentations made by our executives include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. These risks and uncertainties include, but are not limited to, the factors identified in the release and in our filings with the Securities and Exchange Commission.

Today's presentations will also include certain non-GAAP measures. Reconciliation of these measures is provided on our website.

Now, let me turn the call over to Craig.

Craig Menear

Thank you, Isabel, and thanks to all of you for joining us on our call this morning. We hope that you and your loved ones are safe and healthy, and our thoughts and prayers are with all of those who have been directly impacted by COVID-19. I also want to thank all of our incredible associates and supplier partners for their hard work and dedication to serving our customers and communities in this time of need. And while the purpose of the call today is to update you on our first quarter results, I thought it would be helpful to explain how we are thinking about and making decisions at The Home Depot.

When our founders started the company over 40 years ago, they did so by first defining the type of culture and value system that they wanted to promote. These values are the foundation for our business and provide the lens through which we evaluate our decisions. Anchoring to these values in this time of crisis has never been more critical. Our decisions and actions are rooted in a commitment to do the right thing, to take care of our people and be there for our customers and communities. To that end, as the situation around COVID-19 has evolved, our focus has been and continues to be on two key priorities, the safety and well-being of our associates and customers, and providing our customers and communities with essential products and services. The team's alignment around these two objectives has enabled critical speed and flexibility when making decisions and implementing a number of changes across the business