Patrick Industries Inc. (NASDAQ:PATK) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 10:00 am ET


Patrick Industries Inc. (NASDAQ:PATK) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the Patrick Industries, Inc. Second Quarter 2020 Earnings Conference Call. My name is Donna, and I'll be your operator for today. [Operator Instructions] [Operator Instructions]

I will now turn the call over to Ms. Julie Ann Kotowski from Investor Relations. Ms. Kotowski, you may begin.

Julie Ann Kotowski

Good morning, everyone, and welcome to Patrick Industries' Second Quarter 2020 Conference Call. I am joined on the call today by Andy Nemeth, President and CEO; and John Forbes, CFO. Certain statements made in today's conference call regarding Patrick Industries and its operations may be considered forward-looking statements under the securities laws.

There are a number of factors, many of which are beyond the company's control, including, without limitation, the disruption of business resulting from unforeseen events, such as the COVID-19 pandemic and its impact on economic conditions, capital financial markets and our operations, which could cause the actual results and events to differ materially from those described in the forward-looking statements.

These factors are identified in our press releases, our Form 10-K for the year ended 2019 and in our other filings with the Securities and Exchange Commission. We undertake no obligation to update these statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

I would now like to turn the call over to Andy Nemeth.

Andy L. Nemeth

Thank you, Julie Ann. Good morning, everyone, and thank you for joining us on the call today. First and foremost, I would like to welcome John Forbes, our interim CFO and current member of our Board of Directors. John is doing a fantastic job as expected, and his leadership has been energizing and engaging as we pursue our tailored and disciplined search for a permanent CFO. John will review our second quarter financial results later during the call.

Before we cover the details of our quarterly results, I want to provide an update on our efforts to mitigate the impacts of COVID-19 on our business and prioritize the safety and protection of our team members, their families and our communities as well as the overall impact to our business since our last call in late April. We've been working very diligently during these unprecedented times to maintain a safe environment for all of our talented and dedicated team members, while also prioritizing our goal of striving to take care of our customers at the highest level.

With the majority of our workforce returning to production in early May, we established and implemented extensive back-to-work safety protocols to protect our team members and facilities in alignment with both CDC and state guidelines. We are adapting and evolving with operational best practices and continuing to position ourselves to maintain a flexible and nimble operating platform. While some restrictions have eased, and our customers have returned to robust production levels, we remain focused and attentive to our disciplines, team member safety and organizational goals.

Our leisure lifestyle markets experienced an unprecedented wholesale production shutdown of more than