Trinseo SA (NYSE:TSE) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 10:00 am ET


Trinseo SA (NYSE:TSE) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the Trinseo Second Quarter 2020 Financial Results Conference Call. We welcome the Trinseo management team Frank Bozich, President and CEO; David Stasse, Executive Vice President and Chief Financial Officer; and Andy Myers, Director of Investor Relations.

Today's conference will include brief remarks by the management team followed by a question-and-answer session. The company distributed its press release along with its presentation slides at close of market yesterday. These documents are posted on the company's Investor Relations website and furnished on a Form 8-K filed with the Securities and Exchange Commission.

[Operator Instructions] I will now hand the call over Mr. Andy Myers. Please go ahead.

Andy Myers

Thank you Amy, and good morning everyone. At this time, all participants are in a listen-only mode. After our brief remarks, instructions will follow to participate in the question-and-answer session. Our disclosure rules and cautionary note on forward-looking statements are noted on Slide 2.

During this presentation, we may make certain forward-looking statements including issuing guidance and describing our future expectations. We must caution you that actual results could differ materially from what is discussed, described or implied in these statements. Factors that could cause actual results to differ include, but are not limited to factors set forth in our Annual Report on Form 10-K under Item 1A Risk Factors. The company undertakes no obligation to update or revise its forward-looking statements.

Today's presentation includes certain non-GAAP measurements. A reconciliation of these measurements to corresponding GAAP measures is provided in our earnings release and in the appendix of our investor presentation. A replay of the conference call and transcript will be archived on the company's Investor Relations website shortly following the conference call. The replay will be available until July 30, 2021.

Now, I would like to turn the call over to Frank Bozich.

Frank A. Bozich

Thanks Andy. And welcome to Trinseo's second quarter earnings call. I'd like to start by discussing our 2020 sustainability and corporate responsibility report, which we published earlier this month. Since our founding a decade ago Trinseo has maintained sustainability as a core value. After joining Trinseo last year, I've come to understand how deeply this is embedded within the company and how truly passionate, our employees are about improving our world, addressing complex material challenges and delivering sustainable product that are intrinsic to daily life. Our report lists many accomplishments, which we are proud of covering a broad range of areas across the company. These include safety for which we achieved an injury rate of only 0.11 per 200,000 hours worked in 2019. This puts us in the upper echelon of the chemical industry. It includes environmental protection where we've reduced our scope one greenhouse gas emissions by 37% since 2011. It covers product development, where we continue to focus on many innovations, including a greater proportion of post-consumer recycled content in the products we sell, as well as investments in polystyrene circularity. It's because of results, such as these that Newsweek recognized us