Hill-Rom Holdings, Inc. (NYSE:HRC) Q3 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 08:30 am ET


Hill-Rom Holdings, Inc. (NYSE:HRC) Q3 2020 Earnings Conference Call - Final Transcript


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Good morning, and welcome to Hill-Rom's Fiscal Third Quarter 2020 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded by Hill-Rom and is copyrighted material. It cannot be recorded, rebroadcast or transmitted without Hill-Rom's written consent. If you have any objections, please disconnect at this time.

I'd now like to turn the call over to Ms. Mary Kay Ladone, Senior Vice President, Corporate Development, Strategy and Investor Relations. Ms. Ladone, you may begin.

Mary Kay Ladone

Good morning, and thanks for joining us for our fiscal third quarter 2020 earnings conference call. Joining me today are John Groetelaars, President and Chief Executive Officer of Hill-Rom; and Barbara Bodem, Chief Financial Officer. Before we get started, let me begin by reminding you that this presentation includes forward-looking statements that are subject to risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those described, including any impact related to the COVID-19 pandemic. Please refer to today's press release and our SEC filings for more information concerning risk factors that could cause actual results to differ materially. In addition, on today's call, non-GAAP financial measures will be used. Reconciliations between GAAP and non-GAAP financial measures are included in our earnings release issued this morning. I would also like to mention that in addition to the press release issued this morning, we have posted a supplemental presentation, which highlights Hill-Rom's performance. These materials can be accessed on the Investor Relations page of our website.

So with that introduction, let me now turn the call over to John.

John P. Groetelaars

Thanks, Mary Kay, and good morning, everyone. I hope you're doing well, and thank you for joining the call. I'd like to start the call today by recognizing the dedicated, committed, passionate and mission-driven team that we have here at Hill-Rom. It's truly extraordinary, and I do mean extraordinary. We were called to fulfill our mission to enhance outcomes for the patients and caregivers. And as a team, we unequivocally executed to a T, ramping up and shipping two times the normal volume of smart beds, ramping up and delivering seven times the normal volume of noninvasive ventilators, securing our global supply chain, ensuring our workers' safety, involving five of our largest manufacturing sites in ramping up manufacturing to meet customer needs, continuing to engage our over 1,200 field service employees and rental employees and those involved in logistics and shipping, you name it. Our overall operational team delivered excellence. And this group of people, which is approximately 7,000 employees out of our 10,000 employees, really deserve special recognition. Next, we pivoted and accelerated our R&D pipeline during the pandemic, launching five new products and pivoting our programs towards innovations to help patients dealing with COVID. It doesn't stop there.

We closed the two acquisitions and supported our vision of Advancing Connected Care in both patient monitoring and OR data integration. And if all that wasn't enough for you, we actually did this while all of our office workers moved to