The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Bill Kirk, CFA - Roth Capital Partners LLC - Analyst
: I guess my question has to do with the relationship with retailers. I know a lot commonly would have contractual volume minimums. So how does
the supply disruption impact or change the way the contractual minimums work with your retail partners?
Question: Bill Kirk, CFA - Roth Capital Partners LLC - Analyst
: Okay. And Sandy, you made a comment that commercial operations were back to normal. So the press release says returning -- operations returning
to normalized levels, and maybe it's just semantics, but what's the difference between returning to normalized levels and your comment earlier
that commercial operations were at normal levels?
Question: William Reuter - Bofa Merrill Lynch Asset Holdings Inc - Analyst
: Hi. Apologies, not trying to beat a dead horse here, but just to make sure I understand. The $25 million, you will be adding that back to your adjusted
EBITDA as you get to the guidance. The $40 million to $50 million, you will not be adding back. Is that correct?
Question: William Reuter - Bofa Merrill Lynch Asset Holdings Inc - Analyst
: Okay. Perfect. The two other quick ones. i guess, have you made any changes to your systems that you believe will make it less likely that future
cybersecurity incidents happen in the future? And I guess was there anything unique that made it such that there were -- this incident did occur
this time?
Question: William Reuter - Bofa Merrill Lynch Asset Holdings Inc - Analyst
: Got it. Yeah, no, it's clearly impossible regardless of the size of a company to fully protect themselves. Just lastly, yeah, you mentioned that there's
one customer where the onboarding is delayed. The fact that you said it's business as usual going forward seems to indicate that there were not
meaningful customer losses. I guess, have you touched base with all of your existing customers, and have they indicated that they don't plan on
re-evaluating their suppliers such as yourselves?
Question: Leah Jordan - Goldman Sachs Group Inc - Analyst
: I just wanted to ask on the $350 million to $400 million estimated lost sales, just seeing if you could provide more detail on the relative impact for
natural versus conventional. And then maybe any color on how this incident played out and impacted larger chains differently versus your
independent customers.
Question: Leah Jordan - Goldman Sachs Group Inc - Analyst
: Okay. Thank you. And then I guess as you do a postmortem on this incident, has anything changed in your view and how you think about investing
in technology throughout the business? And just what areas do you plan to invest in that over the coming years?
Question: Alexander Slagle - Jefferies LLC - Analyst
: Just wanted to ask on the 2.5 times leverage target that you assume. Is there a certain amount of cash insurance reimbursement baked into that?
Question: Alexander Slagle - Jefferies LLC - Analyst
: Got it. Thanks. And any -- just on the recent trends to date, I don't know if there's any way to give like the last couple weeks, what the run rate on
the top line is at this point?
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