Alcon AG (NYSE:ALC) Q2 2020 Earnings Conference Call - Final Transcript

Aug 19, 2020 • 08:00 am ET


Alcon AG (NYSE:ALC) Q2 2020 Earnings Conference Call - Final Transcript


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Good day, and welcome to Alcon's Second Quarter 2020 Earnings Conference Call. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions].

I would now like to turn the conference over to you, Karen King, SVP of Corporate Affairs. Please go ahead.

Karen King

Welcome to Alcon's Second Quarter Earnings Conference Call. Earlier we issued a press release and interim financial report, and posted a supplemental slide presentation to our website to enhance today's call. You can find all of these documents in the Investor Relations section of our website at Joining me on today's call are David Endicott, our Chief Executive Officer; and Tim Stonesifer, our Chief Financial Officer.

Our press release, presentation and discussion will include forward-looking statements. We expressly disclaim any obligation to update forward-looking statements as a result of new information or future developments except as required by law. Our actual results may vary materially from those expressed or implied in our forward-looking statements. Accordingly, you should not place undue reliance on any forward-looking statements. Important factors that could cause our actual results to differ materially from those in our forward-looking statements are included in Alcon's Form 20-F or Form-6K furnished on May 12, 2020 and our earnings press release and interim financial report on file with the Securities and Exchange Commission and available on the SEC website at

Non-IFRS financial measures used by the company may be calculated differently from and therefore may not be comparable to similarly titled measures used by other companies. These non-IFRS financial measures should be considered along with, but not as alternatives to the operating performance measures as prescribed per IFRS. Please review the financial tables provided in the press release and our filings that reconcile non-IFRS measures to directly comparable measures presented in accordance with IFRS. For discussion purposes, our comments on growth are expressed in constant currency.

And with that, I'll now turn the call over to David.

David J. Endicott

Good morning, and good afternoon, everyone. I want to start out by acknowledging and expressing our gratitude to the health care professionals and the central workers who continue to serve patients every day. From the start we've said that the health and safety of our associates, doctors, patients and our communities is top priority. As such, we continue to invest resources to safeguard their welfare. I also want to specifically thank all of Alcon's essential associates who work tirelessly to ensure that we can supply our customers with the products they need, as their businesses recovered from this pandemic.

For today's call, I'll start by providing a performance update and then comment on overall market dynamics and our innovation agenda. Tim will discuss our second quarter sales by business, financial performance and provide more color on our outlook for recovery. Then, I'll wrap up with my closing comments and open up the call for Q&A.

The second quarter with no doubt is one of the most challenging quarters in our history, with conditions that demanded extraordinary