Arcosa, Inc (NYSE:ACA) Q2 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 08:30 am ET


Arcosa, Inc (NYSE:ACA) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the Arcosa Incorporated Second Quarter 2020 Earnings Conference Call. My name is Ashley and I will be your conference call coordinator today. [Operator Instructions]

Now, I would like to turn the call over to your host, Gail Peck, Senior Vice President, Finance and Treasurer for Arcosa. Ms. Peck, you may begin.

Gail M. Peck

Good morning, everyone. Thank you for joining our second quarter 2020 earnings call. With me today are Antonio Carrillo, President and CEO; and Scott Beasley, CFO. A question-and-answer session will follow their prepared remarks today. A copy of yesterday's press release and the slide presentation for this morning's call are posted at our Investor Relations website A replay of today's call will be available for the next two weeks. Instructions for accessing the replay number are included in the press release. A replay of the webcast will be available for one year on our website under the News and Events tab. Today's comments and presentation slides contain financial measures that have not been prepared in accordance with Generally Accepted Accounting Principles. Reconciliations of non-GAAP financial measures to the closest GAAP measure are included in the appendix of the slide presentation.

Let me also remind you that today's conference call contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.Please refer to the company's SEC filings for more information on these risks and uncertainties including our Form 10-K, the earnings press release we filed yesterday, and our Form 10-Q for the second quarter expected to be filed later today.

I would now like to turn the call over to Antonio.

Antonio Carrillo

Thank you, Gail. Good morning and thank you for joining today's call to discuss Arcosa's second quarter results and our future outlook. Second quarter results demonstrated the resilience of Arcosa in the face of very challenging business conditions. We have remained fully operational during the pandemic, an essential business whose products and services help keep critical infrastructure working. Turning to slide four, here are the key messages we would like to cover on today's call. During the pandemic, we continued to prioritize the health and well-being of our employees and the communities where we operate. I want to recognize all of our employees for their incredible commitment and dedication during these difficult times. I'm extremely proud of Arcosa for continuing to support our customers and communities. This was an exceptional quarter for Arcosa across all metrics, including revenue, net income and adjusted EBITDA.

Each of our business segments posted revenue growth. Our construction business outperformed our expectations showing organic growth and the benefit of the Cherry acquisition that closed earlier this year. Our shift to more stable and diversified in markets over the last 18 months has been an important factor in enabling this growth. Another major focus area has been our cash culture. In the second quarter,