Resideo Technologies, Inc.

At this time, I'd like to welcome everyone to the Rosito Technology Second Quarter 2020 Earnings Conference Call. Today's call is being recorded. All participants will be in a listen-only mode until the formal question and answer portion of the call. If anyone should require operator assistance during the call, please press star zero on your telephone keypad. I would now like to introduce Paige Portis, Director of Investor Relations. Ma'am, please go ahead.

Good morning, and thank you for joining us for Residio's... ...at www.residio.com. We'd like to remind you that this morning's presentation contains forward-looking statements Statements other than historical facts made during this call may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of the number of factors, including those described from time to time in residual filings with the Securities and Exchange Commission. The company assumes no obligation to update any such forward-looking statements. Additionally, during our call today, we will refer to certain non-GAAP financial information. A reconciliation of our gaps and non-gap results is included in the company's earnings press release and accompanying presentation, both of which can be found in the investor relations section of our website. We identify the principal risks and uncertainties that affect our performance in our annual report on Form 10-K and other SEC filings. I'd now like to turn today's call over to Jay. Jay?

Thank you, Paige, and good morning, everyone. I'd like to begin today's call by thanking the entire Residio team. for the warm welcome they've extended me and for the way they have responded to the challenges brought on by the pandemic. I believe we have dedicated, passionate people that want to win, and I'm very excited to get to work with all of them. While our second quarter revenue and earnings were down substantially compared to last year, primarily due to COVID, we are now seeing meaningful improvement in the business. Sales improved sequentially each month through the second quarter, Thank you for joining us. Demand has returned to pre-COVID levels over the past few weeks in both our ADI and product and solution business, and macro industry trends appear to be improving. Recent industry data and customer feedback are pointing to positive trends in demand for both P&S and ADI. People are spending more time in their homes during the pandemic, which has created increasing usage of home systems, as well as an increase in home renovation and repair projects. Our product portfolio is well positioned to capitalize on these dynamics. Our previously announced financial and operational review is on track to deliver 30 to 40 million of savings in 2020 and over 100 million annually in 2021 and beyond. On top of this great work, our new leadership team is already pursuing additional opportunities to improve our balance sheet, reduce our cost structure, improve margins, and drive greater top-line growth. These initiatives are in their early stages, and we look forward to communicating them with you as they come to fruition. With that, I'll turn the call over to Tony to discuss our second quarter results.