HD Supply Holdings, Inc. (NASDAQ:HDS) Q2 2020 Earnings Conference Call - Final Transcript

Sep 09, 2020 • 08:00 am ET


HD Supply Holdings, Inc. (NASDAQ:HDS) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the HD Supply Second Quarter Earnings Conference Call. [Operator Instructions]. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. I would now like to hand the conference over to your speaker today, Ms. Charlotte McLaughlin, Investor Relations. Thank you. Please go ahead.

Charlotte McLaughlin

Thank you, Jimmy. Good morning, ladies and gentlemen and welcome to the HD Supply Holdings 2020 second quarter earnings call. As a reminder, some of our comments today maybe forward-looking statements based on management's beliefs and assumptions and information currently available to management at this time. These beliefs are subject to known and unknown risks and uncertainties, many of which maybe beyond our control, including those detailed in our periodic SEC filings.

Please note that the Company's actual results may differ materially from those anticipated and we take no obligation to update these statements. Reconciliations of certain non-GAAP financial metrics with their corresponding GAAP measures are available at the end of our slide presentation and in our 2020 second quarter earnings release, which is available on our IR website at www.hdsupply.com.

Joe DeAngelo, our CEO will lead today's call with Brad Paulsen, President of Facilities Maintenance providing further color around market trends. Evan Levitt, our CFO will provide additional information on our recent financial performance. There will be an opportunity for Q&A. For those participating, please limit your remarks to one question and one follow-up if necessary. Thank you for your continued interest in HD Supply.

And with that, I will now turn the call over to Joe DeAngelo.

Joseph J. DeAngelo

Well, thank you, Charlotte. Good morning, everyone. Thank you for joining us today for our second quarter 2020 earnings call. As always, it is my privilege to share our Company's results with you on behalf of the over 11,000 HD Supply associates who work hard every day as one team driving customer success and value creation.

Turning to Page 3, I will begin this morning by offering our sympathies and support to everyone affected by Hurricane Laura in Louisiana and Texas and those who continue to be affected by the COVID-19 pandemic.

HD Supply will continue to lead by living our unwavering commitment to protection and safety of our associates and their families. And I want to thank the entire team, especially our front-line drivers and branch and distribution center teams who've risen to the daily challenges and safely operate in this time of adversity to continue to help our customers and local communities thrive. I'm always amazed and proud of their dedication and spirit.

Our second quarter performance has dramatically improved from the end of the first quarter. Our Facilities Maintenance team has done an incredible job by anticipating the needs of our customers as they move to safely restart operations. Our merchandising, sales and marketing teams have led the way in training and communication of how to reopen with confidence.

We have provided the critical products we believe are needed to operate safe, living