Masco Corp (NYSE:MAS) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 09:00 am ET


Masco Corp (NYSE:MAS) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen. Welcome to Masco's Second Quarter 2020 Earnings Call. My name is Beverlin, and I will be your operator for today's call. [Operator Instructions]

I will now turn the call over to David Chaika, Vice President, Treasurer and Investor Relations. You may begin.

David Chaika

Thank you, Beverlin, and good morning. Welcome to Masco Corporation's 2020 Second Quarter Conference Call. With me today are Keith Allman, President and CEO of Masco; and John Sznewajs, Masco's Vice President and Chief Financial Officer.

Our second quarter earnings release and the presentation slides that we will refer to today are available on our website under Investor Relations. Following our remarks, we will open the call for analyst questions. Please limit yourself to one question with one follow-up. If we can't take your question now, please call me directly at (313) 792-5500.

Our statements today will include our views about our future performance, which constitute forward-looking statements. These statements are subject to risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements. We've described these risks and uncertainties in our risk factors and other disclosures in our Form 10-K and our Form 10-Q that we filed with the Securities and Exchange Commission. Our statements will also include non-GAAP financial metrics. Our references to operating profit and earnings per share will be as adjusted, unless otherwise noted. We reconcile these adjusted metrics to GAAP in our earnings release and presentation slides, which are available on our website under Investor Relations.

With that, I'll now turn the call over to Keith.

Keith Allman

Thank you, Dave. Good morning, everyone, and thank you for joining us today. I hope you and your families and loved ones are healthy and safe. This is certainly a difficult time for all of us. Despite the numerous challenges created by the COVID-19 pandemic, I am proud that the Masco team has demonstrated support for one another, support for our customers and support for the thousands of communities we serve. Our team has risen to the challenge, and I'm grateful for their dedication.

Similar to the responsiveness that Masco has shown throughout the pandemic, we are not standing on the sidelines in the fight against racial injustice and inequality. We are concerned about systemic racism, passionate about creating lasting change and committed to doing our part. Over the last five years, our enterprise-wide diversity and inclusion strategy has included actions within our company and our communities. We fully recognize that we have more work to do, but we've laid a solid foundation that will enable us to accelerate progress in the future. At Masco, we are committed to creating an environment where all employees are included, all employees are treated with dignity and respect and all employees have an opportunity, an equal opportunity, to thrive.

Now turning to our quarterly results. Please refer to Slide 4. We executed extremely well in the second quarter, and demand for our products improved as restrictions on production eased and our