8/3/2021

speaker
Operator
Conference Call Operator

Good morning, and thank you for participating in today's conference call to discuss Dashkey's financial results for the second quarter ended June 30, 2021. With us today are Jonathan Shepko, CEO and board member Jason Bates, EVP and CFO, John Michel, VP of Treasury and Investor Relations, and Chuck Sirianni, board chairman. After their prepared remarks, The management team will take your questions. As a reminder, you may now download a PDF of the presentation slides that will accompany the remarks made on today's conference call as indicated in the press release we issued earlier today. You may access these slides in the investor relations section of our website. Before we go further, I would like to turn the call over to John Michel, VP of Treasury and Investor Relations, who will read the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements. John, please go ahead.

speaker
John Michel
VP of Treasury and Investor Relations

Thank you, Talene. Please turn to slide two for a review of our safe harbor and non-GAAP statements. Today's presentation contains forward-looking statements, as within the meaning of the Private Securities Litigation Reform Act of 1995. Projected financial information, including our guidance outlook, are forward-looking statements. Forward-looking statements, including those with respect to revenues, earnings, performance, strategies, prospects, and other aspects of Daske's business, are based on management's current estimates, projections, and assumptions, that are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. I encourage you to read our filings with the Securities and Exchange Commission for discussion of the risks that can affect our business and to not place undue reliance on any forward-looking statements. We undertake no obligation to revise our forward-looking statements to reflect events or circumstances occurring after today. whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. During the call, there will also be a discussion of some items that do not conform to U.S. generally accepted accounting principles or GAAP, including but not limited to adjusted EBITDA, adjusted operating ratio, adjusted operating income, adjusted net income or loss, free cash flow, and net debt. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in the appendix to the investor presentation and press release issued this morning, both of which are available in the Investors tab of the Dasky website, www.dasky.com. In terms of the structure of our call today, we will start by turning the call over to Daske's Board Chairman, Mr. Chuck Sirianni, who will provide some comments on the recently announced appointment of Jonathan Chipko as Daske's permanent Chief Executive Officer, after which Jonathan will review our business operations and the progress we are making as we execute against our key strategic priorities. Jason will then provide a financial review of the quarter, at which point Jonathan will wrap up our remarks with a few closing comments. before we open the line for your questions. With that, I'll hand the call over to Mr. Chuck Sirianni.

speaker
Chuck Sirianni
Board Chairman

Chuck Sirianni Thank you, John, and good morning, everyone. This morning, we announced that DASC's Board of Directors has appointed Jonathan to the CEO role on a permanent basis. The Board has spent the last several months conducting a comprehensive executive search process, interviewing and vetting numerous prospects in order to identify the candidate best suited to lead our organization through the next phase of its development. After taking the appropriate time to evaluate the needs of our organization, we concluded that Jonathan was the right person to lead us forward, with the priority of driving further operational improvements across the organization and executing against our growth strategy. As you know, Jonathan has been carrying the interim title since the beginning of the year. He has more than met the Board's expectations since dutifully stepping into the role. In fact, the Board was able to undertake a much more paced and diligent search because of the successes Jonathan and the rest of the executive team were achieving. Ultimately, it did become clear through this several-month process that Jonathan carried not only the necessary and complementary skill set that best aligns with our strategic direction and priorities, but also the added benefit of maintaining continuity. These factors, which combined with his native insight into our business operations, will be of significant value as we continue to execute our operational transformation. Jonathan has been a director at Dasky since we began trading publicly in early 2017, and he has a depth and breadth of knowledge around our business operations and strategy that is unparalleled. He brings extensive professional experience in capital markets, debt and equity financing, and direct investing. For those of you that are new to our story, Jonathan also served as chairman of a special operating committee that played a critical role in constructing and overseeing the tactical pivot that allowed for operational transformation and the improvement to our operating and financial results. Additionally, as chair of the committee, he helped lead the resetting of our strategic and tactical priorities that the company committed to and executed against in 2020, which took place in the middle of a global pandemic that introduced significant volatility into the broader economy. Dasky emerged from that transformation and the pandemic as a stronger entity that is much better suited to achieve sustainable long-term growth. And Jonathan demonstrated his leadership qualities playing a very meaningful role in working with our team to bring that to fruition. More recently, his experience and expertise were leveraged as the company successfully executed a refinancing transaction as part of our larger balance sheet restructuring efforts, a key strategic win for us earlier this year. Jonathan will continue to be supported by a very strong bench of talent across our executive leadership team, as well as by the numerous industry veterans we have at each of Dasky's operating companies. It's important to reiterate that as we continue forward on our path, Jonathan's formal appointment to the role is not indicative of a change in our key priorities and overall strategic direction. And while we are still completing additional stages of our operational transformation, we have made significant progress. As our company now begins to look towards a new phase of accretive growth, our board firmly believes that Jonathan is the right leader to complete Dasky's continued transformation to becoming a truly world-class company. With that, I'll turn the call over to Jonathan.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

-

-