Enservco Corporation

Welcome to InserveCo's second quarter earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Jay Pfeiffer, Investor Relations. You may begin.

Hello, and welcome to InserveCo's 2023 second quarter conference call. Presenting on behalf of the company today are Rich Murphy, Executive Chairman, and Mark Patterson, Chief Financial Officer. As a reminder, matters discussed during this call may include forward-looking statements that are based on management's estimates, projections, and assumptions as of today's date and are subject to risks and uncertainties disclosed in the company's most recent 10-K, as well as other SEC filings. Company's business is subject to certain risks that could cause actual results to differ materially from those anticipated in its forward-looking statements. And Servco assumes no obligation to update forward-looking statements that become untrue because of subsequent events. I'll also point out that management's ability to respond to questions during this call is limited by SEC Reg FD, which prohibits selective disclosure of material non-public information. A website, a webcast replay of today's call will be available at insurco.com after the call. In addition, a telephone replay will be available beginning approximately two hours after the call. Instructions for accessing the webcast or replay are available in today's news release. And with that, I'll turn the call over to Rich Murphy. Rich, please go ahead.

Thanks, Jay. And good morning, and welcome to our second quarter earnings call. Yesterday, we announced financial results. and filed our Form 10-Q for the second quarter and six-month period ended June 30, 2023. We are pleased to report our ninth consecutive quarter of increased year-over-year revenue. As usual, credit goes to our field teams whose safe and reliable service delivery has engendered a high degree of loyalty among our Blue Chip customer base across all the basins in which we operate. In addition to driving higher year-over-year revenue for nine consecutive quarters, Our teams have also been instrumental in our efforts to operate more efficiently to reduce operating costs and improve profitability. We also benefited from colder weather, particularly in the west, that extended our heating season further into the spring. As you know, Q2 and Q3 are traditionally our slower off-season quarters due to warmer temperatures that keep our heating equipment on the sideline much of the time. So, the cooler weather was a welcome addition and we hope the beginning of a trend as many weather prognosticators are predicting more severe winter weather this year. Our heating business in the first and fourth quarters is responsible for the majority of our annual revenue and profitability in a given year. So we're cautiously optimistic that customer demand for heating services will continue to accelerate in coming months. Back to our second quarter results. Our profit metrics also showed continued improvement as both net income and adjusted EBITDA results were up year over year. Mark will get into the details in just a moment. Our balance sheet, a major focus for us in recent years, and a key element of our plans to enhance shareholder value, was further strengthened in the second quarter, and through six months, we achieved a 39% reduction in long-term debt as compared to the 2022 year-end balance. So with that, I'm going to have Mark take you through some of the numbers before I will close with some thoughts on our go-forward strategy.