Don, you, afternoon, good everyone. Thank and
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Hexcel with we unprecedented the spirit Xth, April in CEO, managing best well in boards merger the customers mutual made and while businesses Nick was Corporation, Stanage, as crisis. our through as of of mutual on our to what’s respective and and order by shareholders on it focus myself our employees, Additionally our disappointing announced doing decision Hexcel the for termination individual this
We shift Weber of and also back role Financial Vice to made the the Chairman to decision Chief Officer. Bob
what As necessary confident these in through taking matters an business will protecting uncertain steps, times which these our focus veteran our with is and strength. we’re members By financing our the Bob us health and maintaining industry in-markets able deep conditions. team safety these manage knowledge in of challenging to that help on and of most
Woodward moving Now second quarter. to
related in beginning expectation largely was caused disruption global performance line to before by with impacts Our the to experience COVID-XX.
our Over we’ve pressuring several shelter of markets as including and oil air frequent seen react travel global weak a months, near are three disruptions prices significant the in-market. orders, standstill uncertainty replace at increasing which historically worldwide and past our
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and quarter. affected the previously and announced renewable at negatively divestiture gas of China year closed quarter. continued the recover shutdowns the beginning improved and were power for transportation, production Turning increased. natural plant the in of COVID-XX demand global mixed generation, we In system as turbine power our to calendar related a initiative the in the demand to business. upgrade user on trucks April related On power XX, In market market. industrial industrial gas markets second our Industrial the during
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However in China, the remains and related a regulations natural missions favorable truck. continued focus gas on for
result, we’re As improves. recovery economic as activity China a seeing in demand a in
as closely to all market in continue as our will We of well developments markets. other monitor these
second met half. our summary, performance in In weakness the of although in largely quarter second the significant XXXX anticipate We expectations.
we’re long-term growth opportunities this uncertainty, to our steps Woodward’s taking to continue we of financial time preserve necessary manage As through the in confident strength. we’re that
navigate We cash substantial, through is a seasoned management strong management available sheet, have a balance that to liquidity, successfully team [indiscernible] previous downturns. it disciplined and
continue before. even class technologies, in will and stronger to shareholder We operational strategic and excellence emerge deliver than invest growth world to value superior
the like back to and call to I’d Bob to the welcome Now over discuss and to team him turn financials detail. the
