Ryerson Holding Corporation (NYSE:RYI) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 10:00 am ET

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Ryerson Holding Corporation (NYSE:RYI) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Justine Carlson

Good morning. Thank you for joining Ryerson Holding Corporation's Second Quarter 2020 Earnings Call. I'm here this morning with Eddie Lehner, Ryerson's President and Chief Executive Officer; and our Corporate Controller and Chief Accounting Officer, Molly Kannan. Kevin Richardson; Mike Burbach; and Jim Claussen, our North American Regional President; along with John Orth, our Executive Vice President of Operations, will be joining us for Q&A.

Before we get started, let me remind you that certain comments we make on this call contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve a number of risks and uncertainties, including the impacts of COVID-19 and related economic conditions that could cause actual results to differ materially from those implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to, those set forth under Risk Factors in our annual report on Form 10-K for the year ended December 31, 2019. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made and are not guarantees of future performance.

In addition, our remarks today refer to several non-GAAP financial measures that are intended to supplement but not substitute for the most directly comparable GAAP measures. A reconciliation of the non-GAAP financial measures discussed on today's call to the most directly comparable GAAP measures is provided in our second quarter 2020 earnings release filed on Form 8-K yesterday, which is available on the Investor Relations section of our website.

I'll now turn the call over to Eddie.

Executive
Edward J. Lehner

Thank you, Justine, and thank you all for joining us this morning to discuss our second quarter results and the progress we have made on our dual mandate response to the COVID-19 pandemic. I hope this earnings call finds all of you safe and well.

I want to begin our call this morning by thanking all the frontline responders and essential workers who have been working tirelessly and courageously in the fight against COVID-19. I also want to thank my Ryerson colleagues, our customers and our suppliers as we continue to navigate through this time of unparalleled challenge for public health, economic health and societal well-being. All those who have lost love ones through the pandemic, please accept our deepest sympathies with wishes for peace and strength during this time of solemnity and remembrance.

As we noted during our first quarter earnings call, we took decisive and effective actions in establishing COVID-19 health and safety protocols in accordance with CDC guidelines and governing jurisdictional orders. We continued this discipline through the second quarter, making the necessary adaptations along the way as the virus continues to greatly impact daily life.

Within our Ryerson community our number of confirmed cases has been low, and we are relieved that each confirmed case has either recovered or is expected to recover. We are also looking out for one another and working safer as our OSHA TRI Rate for the first half of 2020