Leggett & Platt, Incorporated

Thank you, Ms. Watson. You may begin.

Good morning, and thank you for taking part in Leggett and Platt's first quarter conference call. We are conducting the call from different locations today, so please bear with us if you experience minor delays or mixed audio quality. On with me are Carl Glassman, Chairman and CEO, Mitch Dollaf, President and COO, Jeff Tate, Executive Vice President and Chief Financial Officer, Steve Henderson, Executive Vice President and President of the Specialized Products and Furniture Flooring and Textile Products segment, Susan McCoy, Senior Vice President of Investor Relations, and Cassie Branscombe, Manager of IR. Carl will begin with a brief review of the current status of our employees' health and safety measures. Mitch will discuss our demand levels and operational steps we are taking in response to impacts from the COVID-19 pandemic, Jeff will discuss financial details and proactive steps we are taking to enhance our liquidity position, and Carl will close with final remarks. This conference call is being recorded for Leggett and Platt and is copyrighted material. This call may not be transcribed, recorded, or broadcast without our express permission. A replay is available from the IR portion of Leggett's website. We posted to the investor relations portion of the website yesterday's press release, and a set of PowerPoint slides that contain summary detail of the key information we are sharing with you this morning, along with our regular quarterly financial information and segment details. Those documents supplement the information we discuss on this call, including non-GAAP reconciliations. A reminder that remarks today concerning future expectations, events, objectives, strategies, trends, or results constitute forward-looking statements. Actual results or events may differ materially due to a number of risks and uncertainties, and the company undertakes no obligation to update or revise these statements. For a summary of these risk factors and additional information, please refer to yesterday's press release and the sections in our 10-K, 8-Ks, and 10-Qs entitled Risk Factors and Forward-Looking Statements. I'll now turn the call over to Carl.

Good morning, and thank you for participating in our first quarter call under these unprecedented circumstances. First, I welcome Steve Henderson, President of our Specialized Products and Furniture Flooring and Textile Products segments. Steve is joining us today to participate in Q&A and will be a regular participant on our quarterly earnings calls. Steve joined Leggett in 2017 as president of our automotive business after more than 30 years in a variety of leadership positions at Dow Automotive Systems, most recently as business president, Automotive Systems. He brings immense knowledge and experience to our management team. As we reported yesterday, first quarter sales were $1.045 billion. Earnings per share were $0.34, including a $0.07 per share reduction from items detailed in yesterday's press release. Adjusted earnings per share were $0.41. Yesterday's press release included full details on our first quarter results. We are limiting further prepared comments on the first quarter in order to spend more time discussing the impact of COVID-19 on our business and outlook. We will be happy to discuss any questions you have on first quarter performance during Q&A. As announced on April 2nd, we suspended our full year 2020 guidance due to the uncertainties surrounding the full year impact of COVID-19. Our first priority is the health and safety of our employees and their families, along with our customers and suppliers and the communities we serve around the world. Given the unprecedented times, we have taken early and decisive action to protect our employees and ensure as safe a work environment as we possibly can. We have executed on several proactive measures to protect the company and preserve capital that Mitch and Jeff will discuss. While the environment continues to be uncertain, we are committed to taking the proper steps to protect our employees and the financial well-being of our company. I'll now turn the call over to Mitch.