SiteOne Landscape Supply, Inc. (NYSE:SITE) Q2 2020 Earnings Conference Call - Final Transcript

Jul 29, 2020 • 08:00 am ET


SiteOne Landscape Supply, Inc. (NYSE:SITE) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the SiteOne Landscape Supply Second Quarter 2020 Earnings Call. [Operator Instructions].

As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, John Guthrie, Executive Vice President and Chief Financial Officer. Please go ahead.

John Guthrie

Thank you, and good morning, everyone. We issued our second quarter 2020 earnings press release this morning and posted a slide presentation to the Investor Relations portion of our website, I'm joined today by Doug Black, our Chairman and Chief Executive Officer; and Scott Salmon, Executive Vice President, Strategy and Development.

Before we begin, I would like to remind everyone that today's press release, slide presentation and the statements made during the call include forward-looking statements within the meaning of 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. Such risks and uncertainties include the factors set forth in the earnings release and in our filings with the Securities and Exchange Commission.

Additionally, during today's call, we will discuss non-GAAP measures, which we believe can be useful in evaluating our performance. A reconciliation of these measures can be found in our earnings release and in the slide presentation.

I would now like to turn the call over to Doug Black.

Doug Black

Thank you, John. Good morning, and thank you for joining us today. Overall, we are very pleased with our results for the quarter and for the year thus far. I'm so proud of our tremendous SiteOne team as they have continued to deliver outstanding results for all our stakeholders in the face of extraordinary challenges related to COVID-19. Our strong culture of teamwork, service and commitment to excellence is shining during this time of crisis, and we are gaining strength versus our competition as we build our capabilities and execute our strategy.

Accordingly, we are well positioned to deliver outstanding performance and growth for the long-term and achieve our vision of excellence for our associates, customers, suppliers, shareholders and communities. I will start the call by updating you on developments since our first quarter call and discussing our actions to successfully navigate the rest of the year and beyond. John Guthrie will then walk you through our second quarter financial results in more detail and provide additional information on our balance sheet and liquidity position. Scott Salmon will discuss our acquisition strategy, and then I will come back and review some of the trends that we are seeing in our end markets and address our outlook before taking your questions.

Before I talk about developments and actions, let me first say that our thoughts and prayers continue to go out to all those who have been impacted by COVID-19. With the recent surge in positive cases, we are well aware that this pandemic is far from over and is still resulting in tragic loss of life, social isolation and significant economic hardship for