Minerals Technologies Inc. (NYSE:MTX) Q2 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 11:00 am ET


Minerals Technologies Inc. (NYSE:MTX) Q2 2020 Earnings Conference Call - Final Transcript


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Good day, everyone, and welcome to the Second Quarter 2020 Minerals Technologies Earnings Call. [Operator Instructions]

And now at this time, I'd like to turn the call over to Erik Aldag, Head of Investor Relations for Minerals Technologies. Please go ahead.

Erik Aldag

Thanks, April. Good morning, everyone, and welcome to our second quarter 2020 earnings conference call. Today's call will be led by Chief Executive Officer, Doug Dietrich; and Chief Financial Officer, Matt Garth. Following our prepared remarks, we will open it up to questions. I'd like to remind you that beginning on page 14 of our 2019 10-K, we list the various risk factors and conditions that may affect our future results. And I'll also point out the safe harbor disclaimer on this slide. Statements related to future performance by members of our team are subject to these limitations, cautionary remarks and conditions.

I'll now turn the call over to Doug. Doug?

Douglas T. Dietrich

Thanks for the introduction, Erik, and good morning, everyone. We appreciate you taking the time to join our call this morning, and I hope that you and your families have remained healthy and safe. Similar to last quarter's call, we'll be conducting this one from different locations, and we have all of our business leaders on and ready to answer your questions at the end. I'd like to start by thanking our employees for their continued efforts during very difficult circumstances. Our second quarter results reflect our team's agility to quickly adapt to a changing work environment and dedication to continue to operate safely, both of which underscore the power of our culture and the resiliency of our company. Let me outline the structure of today's call. First, I'll give an update on the measures we've taken to protect our employees and to safely operate our facilities. I'll then provide a high-level overview of our second quarter performance. Matt will follow with more detail on our financial results, and our July sales trends by business unit. I'll conclude with commentary on our end market conditions and how we're positioning MTI to not only navigate through current dynamics but also to capitalize on opportunities to make our company even stronger. Consistent with our core values, health and safety of our employees is and continues to be our top priority as we confront the near-term challenges presented by COVID-19. On our previous earnings call, I outlined a series of rigorous protocols we implemented early on at all of our global facilities.

These procedures have helped to mitigate the risks associated with the pandemic and ensure safe and stable operations. We also continue to implement a remote working environment wherever possible, and I couldn't be more pleased with our global business services, IT and technical service teams who continue to perform at a very high level. In addition, we've seen minimal disruptions to our supply chain and ability to serve our customers. We recognize that the risks related to the virus are still ongoing and present in many of the regions in