The Cooper Companies Inc. (NYSE:COO) Q2 2020 Earnings Conference Call - Final Transcript

Jun 04, 2020 • 05:00 pm ET


The Cooper Companies Inc. (NYSE:COO) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Q2 2020 The Cooper Companies, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker today, Kim Duncan, Vice President, Investor Relations and Risk Management. Please go ahead ma'am.

Kim Duncan

Good afternoon and welcome to The Cooper Companies second quarter 2020 earnings conference call. During today's call, we will discuss the results included in the earnings release and then use the remaining time for Q&A. Our presenters on today's call are Al White, President and Chief Executive Officer and Brian Andrews, Chief Financial Officer and Treasurer. Before we begin, I'd like to remind you that this conference call contains forward-looking statements including all guidance and other statements regarding anticipated results of operations, market or regulatory conditions, and integration of any acquisitions or their failure to achieve anticipated benefits.

Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise and are subject to risks and uncertainties. Events that could cause our actual results and future actions of the company to differ materially from those described in forward-looking statements are set forth under the caption Forward-Looking Statements in today's earnings release and are described in our SEC filings including Cooper's Form 10-K and subsequent Form 10-Q filings, all of which are available on our website at This conference call also contains non-GAAP financial measures. Please refer to today's earnings release for a reconciliation of those measures to the most directly comparable GAAP measures. Should you have any additional questions following the call, please call our investor line at 925-460-3663 or email and now I'll turn the call over to Al for his opening remarks.

Albert G. White

Thank you, Kim and good afternoon everyone. I hope you and your families are healthy and staying safe during these challenging times. Before getting into our results, I want to recognize and say thank you to our employees, whose hard work, dedication, and resiliency have allowed us to continue moving forward through the global COVID-19 pandemic. We're coming out of this a stronger company. So amazing job to all Cooper employees around the world and again, thank you.

From the outset, we made the health and well-being of our 12,000 plus employees and their families a top priority. We instituted robust health and safety programs at all of our facilities including staggering shifts, reorganizing workflows, and implementing work-from-home protocols to ensure social distancing. In the spirit of our strong company culture and our commitment to our people, we continue paying employees their normal compensation, including supporting our commission sales reps, avoided layoffs, furloughed employees only upon request, maintained all benefits programs, and expanded our employee assistance programs.

We've also been there supporting customers by offering new and innovative online training and virtual meetings, expanding our world-class customer service efforts, accelerating our direct-to-patient shipping activity,