Scientific Games Corporation (NASDAQ:SGMS) Q2 2020 Earnings Conference Call - Final Transcript

Jul 23, 2020 • 04:15 pm ET


Scientific Games Corporation (NASDAQ:SGMS) Q2 2020 Earnings Conference Call - Final Transcript


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Good afternoon, ladies and gentlemen. And welcome to the Scientific Games 2020 Second Quarter Investor Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] A brief question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this event is being recorded.

Now, let me turn the call over to Trent Kruse, Senior Vice President of Investor Relations for Scientific Games. Mr. Kruse, you may begin.

Trent Kruse

Thank you, operator, and good afternoon, everyone. During today's call, we will discuss our second quarter 2020 results and operating performance, followed by a question-and-answer period. With me this afternoon are Barry Cottle and Mike Eklund.

Our call today will contain statements that include forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements involve certain risks and uncertainties that could cause actual results to differ materially from those discussed during the call.

For information regarding these risks and uncertainties, please refer to our earnings release issued earlier this afternoon, the materials relating to this call posted on our website and our filings with the SEC.

We also will discuss certain non-GAAP financial measures. A description of each non-GAAP measure and a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure can be found in our earnings press release, as well as in the Investors section on our website.

As a reminder, this conference call is being recorded. A replay of this webcast and accompanying materials will be archived in the Investors section of our website at

Also, supplemental reference slides are available on our Investor Relations website. While management will not be speaking directly to the slides. These slides are meant to facilitate your review of the Company's results and to be used as a reference document following the call.

Now, let me turn the call over to Barry. Barry?

Barry Cottle

Thanks, Trent. Good afternoon, everyone, and thanks for joining us. I want to start by recognizing my colleagues. I am so proud of the way our team has stepped up to help each other, our partners and our company.

We are navigating the current environment incredibly well as evidenced by our strong cost containment and cash management, which allowed us to significantly outperform our cash flow expectations for the quarter.

This better-than-expected performance is a testament to our team's ability to effectively manage our business in the short-term, while also setting ourselves up for success as the economy begins to reopen. We are very aware that there are still many unknowns in the coming months, and therefore, will be cautious in how we think about bringing cost back to our business.

Ultimately, though, we are optimistic in our outlook for the rest of 2020 and beyond. We have structured the business to operate effectively through any environment as we have demonstrated by our ability to continue to drive results across our business, while operating through this unprecedented situation. But we have also positioned ourselves to emerge stronger, more nimble and ready to