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Element Solutions Inc.
5/1/2020
Good morning, ladies and gentlemen, and welcome to the Element Solutions first quarter 2020 financial results conference call. All participants are now in a listen-only mode. Later, you will have an opportunity to ask a question during the question and answer session. Please note this call may be recorded. I will be standing by should you need any assistance. I will now turn the call over to Yashna Hetty, Senior Associate, Corporate Development and Investor Relations. Please go ahead.
Good morning, and thank you for participating on our first quarter 2020 earnings conference call. Joining me this morning are Sir Martin Franklin, our Executive Chairman, CEO Ben Glicklich, President and CEO Scott Benson, and CFO Kerry Goleman. Please note that in accordance with Regulation FD or Fair Disclosure, we are webcasting this conference call. Any redistribution, retransmission, or rebroadcast of this call in any form without the express written consent of Element Solutions is strictly prohibited. During today's call, we'll make certain forward-looking statements that reflect our current views about the company's future performance and financial results. These statements are based on certain assumptions and expectations of future events that are subject to risks and uncertainties. Please refer to our most recent SEC filings for a discussion of the most significant risk factors that could cause actual results to differ from expectations and predictions. Please note in the earnings release and supplemental slides issued and posted today, Element Solutions has provided financial information that has not been prepared in accordance with U.S. GAAP. For definitions and reconciliations of these non-GAAP measures to comparable GAAP financial measures, please refer to the release and slides which can be found in the company's website at www.elementsolutionsinc.com in the investor section under news and events. It is now my pleasure to introduce Martin Franklin.
Thank you, Yash. Thank you, Yash, and good morning, everyone. To get started, we want to join the chorus thanking healthcare workers, first responders, hospital staff, and all the individuals working in essential jobs that are helping our employees, our families, our customers, and the world at large through this unprecedented time. Your efforts are immensely appreciated, and on behalf of Element Solutions, we thank you. Before turning the call to Ben and the team to take you through the quarter and our outlook, I'd like to make a few introductory comments. First, I could not be prouder of how the team at Element Solutions has navigated the year thus far. They have moved quickly and demonstrated great flexibility to overcome the cascade of challenges that have faced our customers and our supply chain. At the same time, they have been measured in their actions and have not lost sight of the long-term opportunity for this business. We have a resilient business with strong and stable cash flows, something that we have demonstrated in abundance over the last 15 months. But this does not happen automatically, and our team has proven capable of successfully operating this business in both good and more challenging times. The team is deeper than the people you hear from on these calls, and even than the broader group you met at our investor day last year. We have strength and depth. It is in this bittersweet context that we are announcing Scott Benson's upcoming retirement today. Scott has been a key leader at Element Solutions and its predecessor companies for two decades, and his contributions to our company's success are remarkable. The team he helped build and has grown allows him to step back with the utmost confidence that the business will continue without a hitch. That is a testament to his leadership. His valuable experience will remain with the company, not only in the leaders he has mentored, but also on our board, where he will continue to serve. Thank you from all of us, Scott. You will hear more from Scott shortly, but first let me turn the call over to Ben. Ben?
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