West Pharmaceutical Services, Inc.

Ladies and gentlemen, thank you for standing by, and welcome to the first quarter 2020 West Pharmaceutical Services earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. It is now my pleasure to introduce Vice President of Investor Relations, Quentin Lai.

Thank you, Andrew. Good morning, and welcome to West's first quarter 2020 conference call. We issued our financial results this morning, and the release has been posted on the investor section on the company's website located at westpharma.com. This morning, CEO Eric Green and CFO Bernard Burkett will review our results, provide an update on our business, and present our updated financial outlook for the full year 2020. There is a slide presentation that accompanies today's call, and a copy of that presentation is available on the investor section of our website. On slide two is our safe harbor statement. Statements made by management on this call and in the accompanying presentation contain forward-looking statements within the meaning of U.S. federal securities law. These statements are based on our beliefs and assumptions, current expectations, estimates, and forecasts. The company's future results are influenced by many factors beyond the control of the company, and actual results could differ materially from past results. as well as those expressed or implied in any forward-looking statement made here. Please refer to today's press release, as well as any other disclosures made by the company regarding the risks to which it is subject, including our 10-K, 10-Q, and 8-K reports. During today's call, management will make reference to non-GAAP financial measures, including organic sales growth, adjusted operating profit, adjusted operating profit margin, and adjusted diluted EPS. Reconciliations and limitations of the non-GAAP financial measures to the most comparable financial results prepared in conformity to GAAP are provided in this morning's earnings release. I now turn the call over to West CEO and President Eric Gray. Eric?

Thank you, Quentin, and good morning, everyone. Thank you for joining us today. The past several months have been some of the most difficult times for our communities across the world as we face challenging circumstances related to COVID-19. This pandemic has made clear the importance of global healthcare and the criticality of the role West plays during these unprecedented times. Our mission to improve patient lives cannot be any more meaningful than in times like today. We take great pride that for nearly 100 years, we have provided innovative, high-quality products and solutions for the containment and delivery of injectable medicines. Despite the COVID-19 challenges, the West team remains focused on creating and delivering value to all our stakeholders. Let's have two priorities that are guiding us through this pandemic. First and foremost, we're focused on the well-being and safety of our team members across the globe. Our crisis management team was engaged at the outset, implementing precautionary measures across our company to protect our teams. It seems nearly every day I learn about another great way that our team is stepping up, to deliver the critical components to meet the urgent needs of our customers and their patients while looking out for the safety of one another. These moments are not only inspirational, but they serve as a testament to the collective strength of the One West team, and I'm grateful for their unwavering commitment to our mission. In addition, Our culture of philanthropy and community involvement has our team members offering their time, meeting skills, and knowledge in support of local response efforts. Turning to slide four, our second priority is the continuity of manufacturing and supply of components and solutions to our customers. The strong tenets of our market-led strategy and globalization of the manufacturing network are contributing to the resiliency of West's business in today's climate. I'm pleased to say that the growth trends we experienced throughout 2019 have continued in the first quarter, and the outlook for the balance of the year remains positive. Despite the current challenges, so far, we have been able to maintain operations at normal capacity. For the benefit of our customers, we have been able to leverage our world-class global manufacturing network by enabling the right capabilities, scale, and flexibility to keep up the increase in demand. Because of the constantly changing environment and its effect on the economy, we conduct business impact analyses daily and make adjustments as they are required. These assessments are an integral part of our business continuity plans within each of our global sites and operations network. Throughout the past several months, we have monitored our supply chain, including our close partner, Dykeo, and at this time, do not foresee any negative impact from direct or indirect suppliers. As the pandemic has intensified, as expected, we have seen an increase in customer orders in recent weeks. We are monitoring order flow to ensure that we're addressing the true demand for our products. As shown on slide five, Despite today's uncertain environment, I am pleased to report that we had a strong first quarter performance and we entered the second quarter well-positioned. We had 13% organic sales growth in the first quarter, largely through strong high-value product sales. This resulted in double-digit growth in adjusted EPS for the first quarter. As we enter the second quarter, the demand for our products continues to be solid and from both existing customers as well as new opportunities from companies looking to develop COVID-19 solutions. Each day seems to bring new challenges, supply chain, transportation, government regulations, and I want to emphasize that across West, we're operating with a sense of urgency to address and manage these issues. Now I'll turn it over to our CFO, Bernard Burkett, who will provide more detail on our first quarter financial performance. Bernard?