Spectrum Brands Holdings, Inc. (NYSE:SPB) Q3 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 09:00 am ET


Spectrum Brands Holdings, Inc. (NYSE:SPB) Q3 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Q3 2020 Spectrum Brands Holdings, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions]

I would now like to turn the conference over to your speaker today, Kevin Kim, DVP of Investor Relations. Thank you. Please go ahead.

Kevin Kim

Great. Thank you, Angie. Welcome to Spectrum Brands Holdings Q3 2020 earnings conference call and webcast. I am Kevin Kim, DVP of Investor Relations and moderator for today's call. To help you follow our comments, we have placed a slide presentation on the Event Calendar page in the IR section of our website at www.spectrumbrands.com. This document will remain there following our call.

Starting with Slide 2 of the presentation. Our call will be led by David Maura, Chairman and Chief Executive Officer; Jeremy Smeltser, Chief Financial Officer; and Randy Lewis, Chief Operating Officer. After their opening remarks, we will conduct the Q&A.

Turning to Slides 3 and 4. Our comments today include forward-looking statements which are based upon management's current expectations, projections and assumptions and are by nature uncertain. Actual results may differ materially. Due to that risk, Spectrum Brands encourages you to review the risk factors and cautionary statements outlined in our press release dated today, July 31st, 2020 and our most recent SEC filings and Spectrum Brands Holdings' most recent Annual Report on Form 10-K and quarterly report on Form 10-Q. We assume no obligation to update any forward-looking statement.

Also please note we will discuss certain non-GAAP financial measures in this call. Reconciliations on a GAAP basis for these measures are included in today's press release and 8-K filing, which are both available on our website in the Investor Relations section.

I will now turn the call over to David.

David M. Maura

Hey. Thank you, Kevin. Good morning, everybody. Thanks for joining us today for our third quarter call. Before we turn our attention to the Company's third quarter results, I want to say, again, thank you to all of our employees. We've got 11,000-plus employees around the world. And to all of our front line workers in our factories and distribution centers, I'd like to say thank you. You guys are the true heroes of our Company. Your sacrifices are allowing Spectrum Brands to embrace our new identity as a true home essentials company. Because of you we are innovating, marketing and we're bringing joy and happiness to our consumers worldwide, whether it's in the kitchen, the yard, around the house or with your pets. We are delighted to make life better and more enjoyable for our consumers of our products and services throughout the planet.

Turning to Slide 6. Our results this quarter reflected strong demand that accelerated throughout the course of the quarter. Simply put, we have embraced our position as a home essentials business and instead of pulling back in the face of the COVID-19 challenges, we are continuing our drive to add talent, create new innovative products