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Jason Industries's (JASN) CEO Brian Kobylinski on Q3 2017 Results - Earnings Call Transcript

Nov. 02, 2017 3:09 PM ETJason Industries, Inc. (JASN)
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Jason Industries, Inc. (OTC:JASN) Q3 2017 Earnings Conference Call November 2, 2017 10:00 AM ET


Brian Kobylinski - CEO

Chad Paris - CFO


Ashwani Kansal - Goldman Sachs


At this time I would like to welcome everyone to the Jason Industries' Third Quarter 2017 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. If you have not received the slide presentation for today's call, you can access it on the Company's Investor Relations website at investors.jasoninc.com and following the link to the Events and Presentations page. Presenting on the call today is Brian Kobylinski, Chief Executive Officer and Chad Paris, Chief Financial Officer.

Before we begin this morning, please be advised that this call will involve forward-looking statements regarding the company and its businesses, as noted on Slide 2 of today's presentation. The company's actual results could differ materially from any forward-looking statements due to several important factors described in the company's latest SEC filings. The company assumes no obligation to update any forward-looking statements made during this call.

With that, we will begin this morning with Jason's CEO, Brian Kobylinski. Koby?

Brian Kobylinski

Thanks, Chris, and thank you on the call for joining us. Q3 was another step in the right direction for Jason Industries as shown on Slide 3. We hosted our third consecutive order of year-over-year margin expansion. We completed two of our larger self-help projects, divesting our non-core European acoustics operations and monetizing our Richmond Virginia real estate as part of our facility's consolidation program, and we began to see some early traction on our targeted growth initiatives.

We began 2017 with three primary areas of focus: operational execution, cash generation and leverage reduction. Our Q3 actions are great examples of this focus. These actions enabled us to repurchase high interest debt at

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