Cintas Corporation

Good day, everyone, and welcome to the Cintas Quarterly Earnings Results Conference Call. Today's call is being recorded. At this time, I would like to turn the conference over to Mr. Mike Hansen, Executive Vice President and Chief Financial Officer. Please go ahead.

Good morning, and thank you for joining us. With me today is Scott Farmer, Cintas Chairman of the Board and Chief Executive Officer, and Todd Schneider, Executive Vice President and Chief Operating Officer. We will discuss our fourth quarter results for fiscal 2020. After our commentary, we will be happy to answer your questions. The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements. This conference call contains forward-looking statements that reflect the company's current views as to future events and financial performance. These forward-looking statements are subject to risks and uncertainties, which would cause actual results to differ materially from those we may discuss. I refer you to the discussion on these points contained in our most recent filings with the FCC. I'll now turn the call over to Scott Farmer.

Thank you, Mike, and good morning, everyone. As you know, this continues to be a challenging time for all of us, and we can't thank enough our employees, who we call partners, for doing all that they can to keep our customers' places of business clean, safe, and ready for the workday. On May 13th, we provided an update on how Cintas' business has been affected by the COVID-19 pandemic and how we were managing the business. COVID-19 continues to be a significant disruption to our economy and to business. Our priorities are unchanged. They include keeping our employees healthy and safe, and remaining committed to serving our customers in any way possible. I believe we're succeeding at both. Our employee partners have been consistent and diligent in their care of our customers, providing essential products and services to healthcare facilities, pharmaceutical companies, grocery store chains, food processing plants, and many others. We've provided healthcare customers with clean scrubs and microfiber towels and moths, We've provided tens of thousands of customers with disinfectant and sanitizer spray services. And we've provided tremendous amounts of personal protective equipment, including face masks, face shields, and other items to our customers to keep their employees safe. Our supply chain has worked feverishly to satisfy this demand. The demand for items like hand sanitizers and N95 respirators has increased tenfold in this pandemic. Our existing suppliers around the world have been key to us meeting this demand, and we thank them for their support. In addition, our scale enabled us to establish additional relationships with dozens of vendors to secure these scarce products. We continue to work to aid existing customers with the products and services that they desperately need, and our ability to access these products that others can't has enabled us to win new customers. We continue to communicate with our customers who remain idled and are considered on hold, and our focus is on being there to help them when they reopen. Before turning the call back to Mike, I want to conclude by stating that I'm thankful for the tremendous dedication of our employee partners. I'm proud of their ability to adapt and persevere in the midst of unprecedented adversity. In addition, I'm as excited as ever about our principal objective of exceeding our customers' expectations to maximize the long-term value of Cintas for our shareholders and working partners. Our value proposition of getting businesses ready for the workday by providing essential, unparalleled image, safety, cleanliness, and compliance arguably has never resonated more than it does today. This pandemic will not soon be forgotten, and its impact on society is likely transformative. We believe a new trend of greater focus on health, readiness, and outsourcing of non-core activities is underway. More healthcare scrubs are being professionally laundered and managed, so fewer are worn in public. Businesses, including universities and retail establishments, are requiring huge quantities of sanitizer and related services. Most businesses are providing larger budgets to align with proper cleaning protocols and supply chains of these key items are moving to the U.S. to reduce dependence on other nations. We believe Cintas is well positioned to benefit from this new normal. Now I'll turn the call back over to Mike.