Treehouse Foods, Inc. (NYSE:THS) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 08:30 am ET


Treehouse Foods, Inc. (NYSE:THS) Q2 2020 Earnings Conference Call - Final Transcript


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Welcome to the TreeHouse Foods Second Quarter 2020 Conference Call. [Operator Instructions]

At this time, I would like to turn the conference over to TreeHouse Foods for the reading of the safe harbor statement.

P.I. Aquino

Good morning, and thanks for joining us today. Before we get started, I'd like to point out that we've posted the accompanying slides for our call today on our website at This conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements include all statements that do not relate solely to historical or current facts and can generally be identified by the use of words such as guidance, may, should, could, expects, seeks to, anticipates, plans, believes, estimates, approximately, nearly, intends, predicts, projects, potential, promises or continue or the negative of such terms and other comparable terminology.

These statements are only predictions. The outcome of the events described in these forward-looking statements are subject to known and unknown risks, uncertainties and other factors, including COVID-19 that may cause the Company or its industry's actual results, levels of activity, performance or achievement to be materially different from any future results, levels of activity, performance or achievement expressed or implied by these forward-looking statements.

TreeHouse's Form 10-K for the period ending December 31, 2019, TreeHouse's Form 10-K for the period ending March 31st, 2020, and other filings with the SEC discuss some of the risk factors that could contribute to these differences. You are cautioned not to unduly rely on such forward-looking statements, which speak only as of the date made when evaluating the information presented during this conference call.

The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in expectations with regard thereto, or any other change in events, conditions or circumstances on which any statement is based. For purposes of our discussion, our results and outlook are provided on a continuing operations basis, which excludes the impact of the Snacks division, which was sold last August and the ready-to-eat cereal business.

I would now like to turn the call over to our CEO and President, Mr. Steve Oakland.

Steven Oakland

Thank you, P.I. Good morning, everyone, and thank you for joining us today. Before I get into our performance and what we consider a very good quarter, let me spend a little time on the events of the last few months.

Since we last spoke in May, 2020 has been marked by more than the COVID-19 pandemic. For me personally, the racial injustices and the events in the last couple of months stirred a wide range of emotions. What I can say for certain is that these injustices have no place in our society, and at TreeHouse, we have an opportunity to create change. We have plants, offices and associates in the communities hit hardest by these events. In those places, we are on different cultures, races and genders, and we are better