Stabilis Solutions, Inc.

Good morning, ladies and gentlemen, and welcome to Stabilist Solutions' third quarter 2022 earnings conference call. Joining us today are Wesley Ballard, President and CEO, and Andy Pujala, Chief Financial Officer. Before we begin, I'd like to remind everyone that today's conference call will contain forward-looking statements within the meaning of the Private Securities Reform Act of 1995 and other securities laws. These forward-looking statements are based on the company's beliefs and expectations as of today, November 3, 2022. Forward-looking statements are subject to the risks and uncertainties that may cause actual results to differ materially from those projected. The company undertakes no obligation to release updates or revisions to the forward-looking statements made in today's conference call. Additional information concerning factors that could cause those differences is contained in the company's filings. with the SEC and the press release announcing the company's results. Investors are cautioned not to place undue reliance on any forward-looking statements. Please also note that the company may refer to certain non-GAAP financial information on today's call. You can find reconciliations of the non-GAAP financial measures to the most comparable GAAP measures in the company's earnings press release. Today's call is being recorded. At this time, I'd like to turn the call over to Westy Ballard, President and CEO of Stabilist Solutions. Please go ahead, sir.

Thanks, Mike, and good morning, everyone. After a strong first half of the year, we continue to build significant momentum here, and it appears that people are starting to take notice. Our third quarter really begins to highlight the success of our strategic initiatives, and several catalysts persist, like increasing difficulties of expanding greenfield natural gas pipeline infrastructure in the U.S., the European energy crisis, and the rapid shift of new industries transitioning to cleaner fuels. Given our ability to leverage our commercial, technical, and operational capabilities, we think our strategy puts us in a fantastic position to address these challenges now and beyond. As I've said in the past, we are not trying to reinvent the wheel here, but instead we are leveraging our proven and durable business model and competencies to address significant demand from existing and new frontier growth opportunities in a world eager for cleaner, safer, secure, and reliable fuels. In turning to the quarter, we delivered solid third-quarter results as revenue remained strong across a variety of industries. And what I'll lump together and call our industrial group, think industries other than aerospace, utilities, mining, and the oil and gas sector for healthy contributors. In the U.S., more than half of the natural gas pipeline infrastructure has aged considerably as it was built prior to 1970. And with this aging infrastructure and the limited sanctioning of greenfield pipeline expansion, we believe even more industries will continue to face challenges in having access to natural gas. This aging of existing infrastructure and lack of incremental pipeline capacity are a few of the key drivers of our bands across America. Our platform has tremendous optionality to remain a meaningful participant in its growth. Whether expanding our existing liquefaction infrastructure, investing in new greenfield infrastructure, across the U.S. Our considerable operating leverage and technical capabilities allow us to do so quickly and with modest increases in overhead.

Needless to say, we really like this portion of our business and its growth prospects in multiple industries and geographies.