AVNS - Earnings call transcript Q2 2021

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, and welcome to the Avanos' Second Quarter 2021 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask question. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Dave Crawford, Vice President of Investor Relations. ahead. go Please

Dave Crawford

will an quarter Michael Woody, and to Then assumptions. everyone, CFO. XXXX quarter joining It's are discuss us. conference our Vice our Greiner, Good second then President and you thanks update to pleasure Joe morning this welcome With second will quarter and update the my Michael planning priorities. Joe call. Senior and morning, me for CEO; Avanos earnings business our environment XXXX on and results our our and begin with progress towards review XXXX

call We will our finish for Q&A. the section avanos.com. on website, with available call the of Investors today's is presentation A

contain as could differ As financial industry. and statements. to statements results our related our to results. assurance Actual those economic from a today the be can the conditions reminder, No our future given forward-looking forward-looking in expected comments materially company, performance and

information results, our that the and about described in the filings For today's statements the factors factors and see release please SEC. risk forward-looking risk more future with influence could press

results be comparable outlook. to measures. GAAP adjusted reconciliations information and adjustments we'll Additionally, has financial The press to on these referring release and

over to the turn I'll Now call Joe.

Joe Woody

for morning, your Good thank in everyone, Dave. and Avanos. Thanks, interest you

the they the of as discussing for the things that to results priorities. Across respond diluted to against a earnings share. needs by our for customers. Sales and our our XXXX to to start $X.XX getting brief our the progress As challenging second commercial pandemic. half adjusted per of patients we $XXX begin we the resiliency increased the focused will year, environment on our the with of meet XX% move brought earned while quarter we current as teams the the million, the enterprise, and to quarter before our review I into of I'm matter by on continued back encouraged we the remain dynamics year

higher finding a a our steps on we I'm additional update the finding taking in our the to more we gross to at pandemic and team will are and background, is our positioning Michael We half less from our management profile. I pleased reduce for were across environment also manufacturing of being on efficiencies as our permanent in lower With impacting our operating expectations team's ways the to expenses. second deliver do on we're quarter. planning our on further with footprint, offsetting costs for but Teams growth XXXX Our throughout are high made impacts priority, My are not percentage our benefited starting sales end execute short quarter the return growth being progress productivity structure. some will with change our strengthening These Performance have not increase than a margin of as importantly, of basis. against I'll assumption. temporary but execution, results negatively progress our and meaningful SG&A us to commitment seen distribution only and how headwinds, procedures, primarily our structure, cost indicate margin our his assisting which business XX% within against year. driven our top priorities, the in the well you is show in-year business, elective fell the that I'm go-forward of of gross this not confident operating the industries expand and revenue our to discuss a of and remarks. market only initiatives. of

throughout with earnings electric call, continued management we the momentum procedures began reaccelerate. the franchise began mentioned increasing saw we line quarter to I as pain Momentum As top across quarter, last our and in our Game second and procedures for of eclipsed faster COOLIEF continue pre both in these procedures XXXX. to pandemic Sales within Ready therapies acceleration than the the quarter of fastest recover where hospital. performed outpatient the

the our volume we procedures sales and sequential trailed until year. in-patient Based of recovery administrators, gradual throughout and below the the increase likely quarter. in in other our delivered the full conversations on continue believe surgeons improvement While pain ON-Q therapies, we to remain has with end hospital potential will the procedural its

pain build the into continue move our the accelerate to we growth As of foundation on we half across year, management. to solid second

premium the The Combined more thus scalability, to see year, positive with margin. new generator position. to our For kits will launch where frequency already we and to a their the next-generation strengthened COOLIEF, education last the other with are without Pain will respect cooled by radio will in procedures and improve answer ourselves speak COOLIEF's RF their continue us deliver coming new ON-Q, real-time our Block also kits. improving patients satisfaction collection from and understand that data new to leadership experience gross orthopedic consumption for patient partners help probe for agreements will leveraging and our track recovery our levels while the efficient their questions. about ability patients' perform to access manufacturers, surgeons. launch us high make to we'll needing channel we engage an COOLIEF probes of Pain to With cooled partnership pump opioid months, us patients. probe providing In gain our differentiate probes their from of Pro easier allow Pro, feel. physicians new and effort engagement physicians to to we're and the sales launching Block app planning The be to look it maintaining to for also manufacture results in orthopedic be and

the We only to and collection will both data this be to company pump engagement offer extent. patient

of as our expected, NeoMed digestive standard exclusive Chronic CORPAK positive digestive customer given relationship accelerating across our our trend our to Health, double-digit to The The of growth We for Leiters is the with across Shifting down Finally, continues. maintained double-digit We were we our prior record Respiratory continue growth health care CORTRAK positive In continues. further across pandemic franchise leverage year to to tailwind. sales base. levels. our sales Care. trend solidify our our strategy franchise hardware maintained franchise, while across health

international Finally, on we our opportunities. continue to expansion execute

clinical our initiatives Our benefits our continue therapies of on focused market recently dividends, footprint. bolstering development growth the of the through are to we acquired pay products and global

high given While benefit growth our quarter delivered muted year, last expectations. pandemic the was the of at results for we end the

operating focuses area second on gross expansion. Our margin and

to loss from the is that out As pandemic. to start year, expand necessary when our of I responded it the Last of the took the protect imperative now employees that noted begin earlier, margin and gross steps need to since recapture manufacturing we products COVID sites. the We and treat arose but these of pandemic challenges, patients. inefficiencies address well manufacturing presented costs our with to we

cost that coming made created These capture long-term take of NeoMed the acquisition, year, market our share short-term a increases the margin some this but family have not into have maximize did on us will full to costs its gross short-term for addition, growth anticipate advantage freight we the trade-off obviously expense at that product headwinds allow we higher year. ensure potential. investment of in-year NeoMed our we of to In to

the the in in for working discipline to efficiencies achieve on investments improved spending. I'm value cost how free carried and spending cash teams make trade-offs also which helps results. Improved and the to positive necessary examine continues management driving flow cultural and drive our seeing best efficiency over produce return quarter. emphasis of to continued shift into our Our capital, a a

to Our on with target highlighted to calls, of improved as repeatable for flow working significant second coupled and cash in discipline. our begin results continue priority generating our and consistent operating acceleration third we expect await receipt flow on capital cash the free refunds we prior free tax half

Our last the for capital on year deployment. priority focuses

but number are pipeline dialogue remains generate enhance in leverage exceed potential targets, M&A generate on that engaged initiatives would footprint, profile. which a our we is return our ensuring growth a healthy, disciplined targets existing meet identifying financial and well hurdles, we of tuck-in remain our we Our on for us, M&A top capital. synergies a our active strong line and as both will strategic as with priority

we Lastly, we macro the accrual entered States on that part X DOJ prosecution with United resolves into the you which deferred a as agreement than investigation, July, the company's early surgical quarter, Justice in of a follow-up are to we Department to business years updated last related S&IP DOJ's the gallons, the ago. divested investigation criminal of more

as of with $XX.X continue As that our leading strong. well positioned through customers remain the these the requirements. and execution strategies focus expectations I we XXXX assure agreement, our to In each continue revised remains part communicated. team compliance can policies, line new and on and our them areas members previously on we quality market gives advance want and our procedures we we robust creation of with to maintain along programs, X priorities. across conclusion, our confidence successfully we training deliver in to me and million, will our to we'll value portfolio, enhance This, of paid

the to Now, over I'll call turn Michael.

Michael Greiner

as remain continues operations, the supply especially chain challenges. these to yet ways with Thanks, and noted, a and regards Joe. we to team you And find in overcome to environment, challenging

unfavorable X% XX% price Now increased and saw quarter. of quarter increase Total after impact benefit year. XX% return higher-than-normal we a range a slightly million our last saw second sales with to offset sales let's favorable volume last by exchange as begin normal price $XXX from our compared within review a movement rates. of results. We price X% in

in $XXX pandemic-related tailwind, saw quarter. have the for draw and sales for related declined. significantly inventory in other products XXXX, to Given the declined would tailwind million been Care the their quarter closed Health $XX we down million of slightly the as Adjusting sales Respiratory Respiratory catheters X% Health for as hospitals pandemic-related hospitalizations suction Chronic down XXXX

orders be distributors July, new through of to hospitals. material upon acceleration hospitalizations have appears Although us, a experienced of wave yet from or not pandemic-related we

some we for and second to normal season. assumption as to favorable of additional expect flu planning MIC-KEY pandemic, in once the Our disruption Digestive growth NeoMed this of benefit the include we double last Respiratory digits saw from a continuation XXXX ENFit technology. legacy, does year. conversions from experienced cold the a for our our again for also year Health, franchise, to providing comparison above-normal half and Health pandemic-related start Shifting we grew not

the elective million favorable sales, pandemic. $XX delivered the We procedures of resulting from the driven Management. the cancellation Pain due prior to year XX% compared comparison year, higher prior to Moving to by of

their the through for trailed ON-Q, recovery COOLIEF Both As With level for our and to faster respect of Sales growth Leiters them we quarter continue new to a Game continues returned Joe therapies. our Ready highlighted, on option. increase therapies by of ahead see digits saw XXXX. increased pre-pandemic customers to the benefit Game average monthly using for COOLIEF and again rate quarter. has pre-filler customers double though sales Ready, of Leiters for therapy these has growth sales day a as and basis with second a the as as the prefill of partnership the

single-digit Finally, June low prior did, quarter. organic July. due sales despite early difficult $X rate international taking the year benefit at scheduled a shipments for of originally grew roughly distributors million the a to to end timing that at were comparison, for however, place of the Sales

to down Moving decreased to compared gross statement. XX% income margin last the year. Adjusted XX%

to to as earnings gross bring meet on from was Joe NeoMed expected impacted indicated demand. products China we As due our U.S. to transportation to higher noted customer costs margin and call to previous earlier, the be

continue part our our in less employees the resulted we hired pandemic in higher safety manufacturing at inefficiencies to additional quarters. plants. These well waste to as protect precautions productivity, In as increased during the pandemic at addition, have factors we overhead the from and in have plants, recent cost for employees our

quarter. improved mix expectation given us these margin we behind had in increase Management the our Pain While saw headwinds gross sales, the for

the Looking second margin to of we expect half the adjusted factors. year, based to on continue at some significantly improve following gross the of

normalized favorability we with growth as our First, demand will pre-COVID in anticipate products the we at levels. Management expect in the will our Health magnified anticipate while for quarter to continues continue uplift fourth as sequential mix our This Pain to Respiratory that normal sales Pain Management seasonal benefit we from be remain franchise.

decrease in versus meaningful will half first we the a see year. costs the of freight air Second,

are Although that freight for half, originally family. anticipated than transportation the for will product higher be second ocean in our the less planned costs relevant NeoMed given still benefit

the levels. in several ensure have we July, gross to return in steps Additionally, achieve margin to we higher our to second facilities pre-pandemic half, initiated efficiency

at approximately return We our facilities employment levels. number manufacturing have of at to to recently pre-pandemic reduced employees our plants the by XX%

to to waste write-offs sell steps the taking increase and working reduce We recently. incurred our commercial scrap reduce are inventory are with to in also levels and slow-moving teams

expected across chain, later Due of year, we to margins customers are inflationary for to reduced To Finally, are adjusted gross some slightly maintain levels. improvement slow order below expenses for are our the pressures some offset operating this informing reducing in be commitment this for offset margin our year. beginning price the now margin the in XXXX gross the year. level, margin order to start increases our operating of we supply to our

and EBITDA adjusted $X we Now a totaled $XX income prior adjusted higher just margin primarily Adjusted $X.XX million earned attention reviewed. compared partially lower $XX adjusted was last metrics. turning as Performance ago sales diluted million I bottom earnings in financial volume, to Adjusted compared to totaled year. which per of some $XX profit your the to million year, million offset to line year share. $XX driven compared totaled the million was net $XX operating by gross million by

balance Turning the and cash to flow sheet statement.

As remains cash Joe sheet achieved meaningful free flow go-forward priority. highlighted, and cash key Act flow a healthy any absent of CARES our receipt generating of refunds. we balance a Keeping the free positive

balance $XX the an Free as the working on a cash end inflow improved facility, is to million strategic $XX and credit revolving quarter million, solid debt of million us flow capital. and enhanced repayment. versus to due of represented flexibility hand an improvement of sheet by continues our $XXX of $XXX ended with of cash provide small quarter the Our on with outstanding million we previous

of the net sales basis to unpredictability currency are coronavirus Finally, a on increase prior X% some remains, while the X% we reaffirming constant to compared year. to

steps and between per adjusted now manufacturing off of earn increased expense We guidance. $X.XX point diluted in our reducing $X.XX In to to earnings to flow cash ability costs, start end in solid halfway second improvement and free year. deliver the operating confident of in strategy the to partially the drive due half are open and significant offset closing, of our gross a the Operator, savings, questions. However, top to year. transportation the necessary execute the by earnings I'm the our line expect are margin at please share. to operating and and take for we we

Operator

Matthew And KeyBanc. the question Mishan first from Instructions] [Operator with comes

Matthew Mishan

seems kind of of you you a the this and start made mean of margin now first just years of for I NeoMed? been from very be you doing to run started I think kind about you're at margin annualized wanted to where with NeoMed. a you has gross the couple kind business? Can gross of is an well walk It sales ago. acquisition an us where but progression problem. rate that with through how Kind still

Joe Woody

again this and digits, Yes, did this in Matt, has couple in. double for But as us. jump I'll It say been things, a Michael of highly always, successful acquisition a grows might quarter.

of, global be on this the there moving is next customers really of which It standard complete is thing conversion infant going a is The needs conversion, a by called that year. to other happening. alongside into

against, that from We've what need headwind gross have the definitely get the and decision so forward And obviously ship benefit our over. air in it's the can sales margin. time seeing they're during to we going get a they're conversions. pandemic, as But is increased associated customers, to we us to They to us that. air and we so transportation line, our is with that have -- a repeat -- up you're made going we product manufacture rates, the China, where particularly a get we

I items of get some these think pandemic model, the the all and we've the we and So the generally, shape when temporal really gross think margin, in metrics place. good in through put on be once that we're of to with I going

add you we So know CORTRAK. with if with, don't like But want for a lot were to I pleased Michael, example, anything?

Michael Greiner

forthcoming No, conversions. DCF consolidated for set. secure that we to excess very model, these making gross beginning, this is NeoMed, to these our over margin, have even Yes. choices yes, business Even we're the years. headwinds with are margins think, gross attractive at the margin gross look never point, We still to in impacting here, from the our Joe's I few modeled of when

when still margin, freight even But if more cost NeoMed, state, NeoMed So normalized company-level above will right state, our Matt, be It's a that's gross normalized these -- it's to helpful. a in company in be the company of level level now below gross below because below the never modeled margins. was headwinds. slightly significantly

Matthew Mishan

you back in-state to rate bought was just it run guys? you conversion, about you it, Once question, annualized of is Yes. the of going businesses an for think a NeoMed $XX finish -- of how big when million. But chunk at what I the

Joe Woody

see I but it's couple a and where similar mean, years. business, double lever the that like next some so a COOLIEF it have of similar in consistency I growing to international for and digit size more like

we it bit. like quite So a

Matthew Mishan

COOLIEF. -- physician you're out And gross Okay. over office? higher do margin, or that at rolling is that a ASC going then this in allow shifting How year, new probes be the effectively -- doctors I just but to to mean more that to next the does it's

Joe Woody

we in opportunities in some what on. I remarks, that is you'll the we This prepared -- not later both We talking new see this of of have driven out think and about think, were business, upgrade introduction.

Matthew Mishan

improvement lastly talking year, you and a a across and what into now headwinds what margin means? a the lot when like little around to freight manufacturing like of give board margins on on, are side. lot that significant gross sense Okay. and going last -- improvement? know the inefficiencies. there's -- of us what the realize I gross to expect you then should range people just are about of be XH, there's we just below us but I give And a say going -- But can

Joe Woody

suction going really we we that we're look, and a the in to about look previous on just why tailwind that line gross saw at some in so obviously, saying, which reminding I'm of in was still our the business." then you defense DPA said think the of When little Yes. change And the you is we thought a QX, things -- built way dealing about We're we because bit to we from there headwinds this also the and fact that and little everybody we HX couple a margin. the there, NeoMed, bit this were had with is and the deferred fundamental a we China about experience we and a about our through not but things, of -- our is a that calls dealing we're wouldn't temporal tee did we air the airfreight Mexico and that investments some going closed walk government and are And and see did more Michael, out in reflected talk plans. employees, I I with, up in think, government. than anticipated. think Mexican it. half NeoMed, think Obviously, talking things of

you for put the And sight completely unique of sort of X have line situations. That second said, half. that different we've together, got when so a you

kind take of that. wants Michael through to think folks I

Michael Greiner

below points we Joe QX we in we we'd be. were Matt, XXX where thought alluded basis were Yes. about -- to,

year, we're So just are of of When the the math. about back couple half part point. the of that where in we kind of a think things starting a going

by revaluation some with anticipate, half of basis our we is that basis have the XXX improve increases passing these That's first points. we Part that XXX won't year. impacts in of about the price we points. of will Price/mix, that So the customers. we're had about along

of that referenced. rates it ON-Q continued the slow-but-steady is day we business Some seeing, in the that improvement been our we've

And reducing freight, relates performance, the to reduction basis primarily some plant of incurred XX% in the year. Another XX that half the to in XXX the related the another as to we've as then well points workforce basis NeoMed. on first points write-offs by

we is doing we're air than be a higher, would little the Now freight a what of we from thought, that half but have obviously that, but in significantly been bit increased cheaper the the freight standpoint, water first year. seeing line

XXX-plus working have as then So we about that that some points specific you we're other and gives basis well. very items of through items,

So points XXXX, that how we question -- to was, significant. going QX coming was of into in where plan your slightly below were below, or which kind not think our walks very significant? we're because be year. within obviously Unfortunately, the basis you We XXX was

Operator

comes question next Cooley Stephens. from The Chris with

Ross Osborn

This Osborn Ross is actually for Chris.

can in through what starting and -- of with guys the line, guidance? walk just us I lower takes so So you kind the puts guess of revenue of and upper top bound assume the you

Joe Woody

Yes.

I'll more saw about then so digit pain plan a business in last full think the the suction and was for little our as obviously, have slightly mean haven't talk hospitals might say but the think a progress, what did going they of in surgical see that It continued to also the bit Chronic and ambulatory is, And more our they've forward want performed. in year from below then although year. procedures Michael we we're Care upfront ON-Q, and some COVID in trajectory some issues But that and come setting. has maybe business. on and COOLIEF. 'XX. Ready the where mid-single comparator terms We about in I back And outpatient and So obviously, the of of of the that -- some because the closed then couple in about we we've for hospital respiratory seeing we internally, just just we a little of, the talked things department guidance bit And quarter, a piece. Game progression comment in that's sequential that

the that in should of be specific think of a example part be won't anyway XXXX. our thinking of about So as was that into sales I about XXXX some million I hand everyone the That respiratory before a half. goes part Michael, second guidance thinking off for $XX to

So Michael?

Michael Greiner

Yes.

while Joe's as I the the downside, to a improve upside side, respiratory ON-Q come electives have continuing think to include would season. normal on back, the come point we protocols and to respiratory accelerate level no not suction to necessary have you for would of here, variants, back off of see look longer because continue kind the catheterization. To closed treatment ON-Q while electives

So we would normalized continue respiratory, that wouldn't to but extra a we get benefit. get

back So we'd back low ON-Q the electives coming have more down, put normal because coming would us respiratory that down on are side.

On the upside, like both protocol, catheter while treatment of did those previous are hospitalization actually electives moving last pull closed in of forward and that the part year. don't where they we suction get being back period the

Ross Osborn

it. then kind That's a of just And picture bigger Got helpful. question. really

X% full on the So XXX currency. kind I guess approaching x from an organic basis? bps line X% top for mid-single of from what's guidance back holding growth year digits is to

Joe Woody

Yes.

of Delta bit comparator I then that Chronic the Michael in And uncertainty Care. got some just a us. $XX how is respiratory also of touched should with any thing. our on still, international way, not be of think That's bit being the by seen we it. have million again. discussion little a there's won't that business, We've touch little this of variant regionalized We a and which, one on may it by affected primarily impact electives although

I know else don't obviously -- like being there's be there's anything Care But if is mean, I there. So an Chronic impact. certainly, less affected the to? of by that piece you'd Respiratory, can

Michael Greiner

have at QX you question. look a versus XXXX I QX, Ross, fair we growth And of it's if organic do mean, XXXX over X%. do And

does get in mid-single digits. that So you that

how not going protocols the play is out being think the variant appropriately react will and half how in exactly cautious treatment other I of just year, we're to knowing back exactly, new and that. just the to hospitals

Ross Osborn

And Fair just enough. a of kind then Okay. question. clarifying

to the sure right year. have of the for you rest Just make cadence the

then will by So and be reductions? OpEx greater that hopefully offset lower gross margin

Michael Greiner

is right? that on right. We'd $X.XX, guidance the that $X.XX not -- right. So Ross. as to indicating that That's end to kind achievable, happens clarify of not you we, top the the $X.XX in That's gives question, not to you And midpoint, of We take down $X.XX. what but took just community, like necessarily the $X.XX.

just be that. possible. Our $X.XX signaling we're is move $X.XX $X.XX not gross lower -- to intellectually The to doesn't just is possible. be mean just We $X.XX just not mean is to margins. But offset OpEx in going headwind, consistent that -- $X.XX, to from was That with that with that still isn't the the trying not $X.XX seems achieved. That can't cards. $X.XX gross margin $X.XX, that something does help we be

Operator

question next Berenberg. The Ravi Misra from with Instructions] [Operator comes

Ravi Misra

the a of one, kind elective for under we just Are this sort full rebound. the elective if cautious year? of can you're outlook little finally parameters? can and start on return ON-Q current more So I that still of there. kind business you growth the or bit And Is on -- a like -- the to do need it sounds

to help you if what's from forward model implied perspective? could kind -- going about from this kind think me a procedural Just thing growth of how of a

Joe Woody

out the has outcomes track as of business and that pain acquisition to groups. his Bill portfolio being customers that how against very electronic big on Block happy in game would to we're think big where as other seeing really products, success, we've space. electives we're be driver, And direction. that now talked of what right Pain approaches a being with in large an channel and that the from rollout with lever that's ambIT then strategic be the offering, the in a changer point we've under that, but leadership we're A having focused obviously, that the done block initial partnerships some the product, We're nerve our meeting The interested what XXXX working on orthopedic some particular, to Pro are seeing come perspective. initiatives from a electric of seeing we're management. us of Board about able pump only work. our just to Yes, future well that from not kind we and in growth. happy biggest We're the couple Haydon a can And of with the we're

the We how happy we're the growth not or where think, lever we on and procedure. So is biggest the again, it get comes fast elective with whether are. you

So doesn't Delta better. quell of do then to the extent we a things, lot can

Michael Greiner

remarks, the has in XX device and When big were. talked look med the in and Ravi, Ready those at a about are we COOLIEF, Joe And you Game become months. electives above as where back prepared over last word

procedures, are it's stay often definition we've there. worked has remember, definitely appropriate well, and multi-day that of recovery. that's all So generally obviously electives But multi-day of for captured types specific very

so of as have electives those types come back And not quickly.

Ravi Misra

to -- into would targeting have would if great. gross And sorry, out kind you but like freight, kind business. than on just this curious, don't if maybe, was out than where just I there, to of And I shift calling us of on don't that. the this internally? higher some know the kind would calibrate of sounds want of that -- I have freight that of at on that pretty your been help I'm -- tilted that it assume Or called you it, XX kind actual Management more the Pain I wasn't mix NeoMed Management towards costs. mix then that? you're shift Because more keep you were offset harping significantly was harp mean quantification freight cost. there quarter the margin, Pain How Okay, of

Michael Greiner

Right.

an it. performance XXX-or-so basically of an efficiency mix had planned of -- It And your underperformed the offset additional from the we then, point, standpoint, that was was we points So the a amount basis additional shift. freight to portion by. that underperformance

XQ, underperformance right. also in then now planned but which for. a some Freight we've the are you was done have portion rectify of to it, steps mid-July in So we

Ravi Misra

maybe Joe. then And one last Great. one,

safety of about there. opioid thinking kind on project event? should now be the Or is Just we this a in of kind that XXXX year? rest for What of the here

Joe Woody

the I Ravi. sorry, first your of question, part I'm didn't hear

Ravi Misra

The technology, product. the opioid novel

Joe Woody

The yes. go --

We'll that So now. continue actually, rolling throughout half. out we're actually product second the

that, as something Block to it's year will this so going And be called. rolling we'll end 'XX, be the that Pain we Pro,

Ravi Misra

Got it. Okay. That that -- the is okay. software

Okay.

Operator

I remarks. session. question-and-answer any questions, this no As back will our closing Joe for the Woody now further we conference over turn have concludes to

Joe Woody

you. Thank

after service been Dave As of guidance you is definitely him Halyard going He's be to and Relations. I our have our Avanos, for may would say years on. want company, obviously, to moving Head of spin his that his the been partnership have X business many Dave to of talking outstanding. from to the know, been Treasurer to Investor but Crawford and really thank consultation, We and

Avanos. and in I And of so stay thank wish with And interest your in the all continued we'll Dave we best, for you him. touch definitely

confident markets. well expansion We well really attractive uncertain free continue creating to environment. in portfolio, got the that We're and think we generate. an sales combined in queries shareholder We margin value. we've our want positioned growth, remain the to and to we're I'm detail, with flow committed cash execute for right we

forward look as all. Thank forward. So to chatting you we go

Operator

has concluded. for Thank conference attending The today's you now presentation.

You disconnect. may now

Avanos Medical (AVNS) 3 Aug 212021 Q2 Earnings call transcript