The Chemours Company (NYSE:CC) Q2 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 08:30 am ET


The Chemours Company (NYSE:CC) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to The Chemours Company Second Quarter Earnings Call. [Operator Instructions] Thank you. I would now like to hand the conference over to your speaker today, Jonathan Lock, Vice President of Corporate Development and Investor Relations. Please go ahead.

Jonathan Lock

Good morning, and welcome to the Chemours Company's Second Quarter 2020 Earnings Conference Call. I'm joined today by Mark Vergnano, President and Chief Executive Officer; Mark Newman, Senior Vice President and Chief Operating Officer; and Sameer Ralhan, Senior Vice President and Chief Financial Officer. Before we start, I'd like to remind you that comments made on this call as well as the supplemental information provided in our presentation and on our website contain forward-looking statements that involve risks and uncertainties, including the impact of COVID-19 on our business and operations and the other risks and uncertainties described in the documents Chemours has filed with the SEC.

These forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events that may not be realized. Actual results may differ, and Chemours undertakes no duty to update any forward-looking statements as a result of future developments or new information. During the course of this call, management will refer to certain non-GAAP financial measures that we believe are useful to investors evaluating the company's performance. A reconciliation of non-GAAP terms and adjustments are included in our release and at the end of this presentation. I will now turn the call over to our CEO, Mark Vergnano, who will review the highlights from the second quarter. Mark?

Mark P. Vergnano

Thank you, Jonathan, and thank you, everyone, for joining us today. We are living in unprecedented times, and the last three months have been some of the most challenging, I can remember. It started with COVID 19, first in Asia, then in Europe and the Americas. We have witnessed the incredible resilience of the human spirit and our collective response. In late May, we saw social justice take center stage and societal awakening of tremendous proportion. I am extremely proud of this company's response to both of these dramatic events in the first half of 2020. We have acted quickly on a global scale to face these challenges head-on and will emerge stronger and more united as a result. Regarding COVID-19, as I said in our first quarter call, our response was swift and strong. Early safety measures implemented across all our sites have proven effective, and we have maintained operational continuity across all our global footprint.

We continue to manage through the current surge of cases in the United States with our internal health and epidemiology team fully engaged. As a leadership team, we have had to make many timely yet tough decisions as the pandemic has worn on. Through it all, we've maintained our true north of putting our people and customers first. As a company, we remain committed to coming out of this pandemic stronger and more competitive. Turning to