Hostess Brands, Inc. (NASDAQ:TWNK) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 04:30 pm ET


Hostess Brands, Inc. (NASDAQ:TWNK) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to Hostess Brands' Second Quarter 2020 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Katie Turner. Please go ahead.

Katie Turner

Good afternoon, and welcome to Hostess Brands' second quarter 2020 earnings conference call. Joining me on the call today are Andy Callahan, Hostess Brands' President and CEO; and Brian Purcell, Chief Financial Officer. By now everyone should have access to the earnings release for the period ended June 30, 2020. They went out this afternoon at approximately 4:05 P.M. Eastern time. The press release and an updated investor presentation are available on Hostess' website at This call is being webcast, and a replay will be available on the website.

I would just like to remind you that today's discussion will include a number of forward-looking statements. If you refer to Hostess' earnings release, as well as the Company's most recent SEC filings, you will see a discussion of the factors that could cause the Company's actual results to differ materially from these forward-looking statements. Please remember the Company undertakes no obligation to update or revise these forward-looking statements. The Company will make a number of references to non-GAAP financial measures. The Company believes these measures provide investors a useful perspective on the underlying growth trends of the business and has included in its earnings release a full reconciliation of non-GAAP financial measures to the most comparable GAAP measures.

And with that, I'd like to turn the call over to Andy Callahan.

Andrew P. Callahan

Thank you, Katie. Good afternoon. We appreciate you joining us today. Before I get into our strong second quarter 2020 results, I would like to briefly comment on the ongoing COVID-19 global health plan. As I did on last quarter's call, I would like to thank the Hostess heroes on behalf of the Hostess Brands Board of Directors and leadership team.

I am grateful to everyone for the remarkable dedication and commitment of those serving on the front lines every day in our facilities, transportation, grocery stores, health care and beyond, ensuring that the local communities are supported. I would like to reiterate our support for a safe recovery to all those impacted from the virus. The health and wellbeing of our entire team, their family and the communities we serve remains our top priority.

We are pleased to report that our manufacturing and distribution facilities have continued to be operational, serving our customers, bringing consumers to comfort, enjoying Hostess during this difficult and uncertain time. In addition, our COVID-19 task force remains intact as we stay nimble and educated for the opportunities and challenges we face to best position Hostess for success now and well into the future.

During this volatile time, we continue to actively monitor and develop action plans to ensure we are appropriately adapting to the current environment. Where when appropriate, we are modifying our manufacturing, supply chain and merchandising priorities to respond to the changing market dynamics, which I will note has improved, although not