United Homes Group, Inc

Good afternoon, ladies and gentlemen, and welcome to the United Homes Group second quarter 2023 earnings conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, August 10, 2023. I would now like to turn the conference over to Alan Hutto with United Homes Group. Please go ahead.

Good afternoon and welcome to the United Homes Group second quarter of 2023 earnings call. Before the call begins, I would like to note that this call will include forward-looking statements within the meaning of the federal securities laws. United Homes Group cautions that forward-looking statements are subject to numerous assumptions, risks, and uncertainties which change over time. These risks and uncertainties include, but are not limited to, the risk factors described by United Homes Group in its filings with the Securities and Exchange Commission. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. Additionally, reconciliations of non-GAAP financial measures discussed on this call to the most directly comparable GAAP measures can be accessed through the company's website and in its SEC filings. Hosting the call today are United Homes Group's Chief Executive Officer, Michael Neary, Chief Operating Officer, Shelton Twine, and Chief Financial Officer, Keith Feldman. With that, I'd like to turn the call over to Michael.

Thanks, Alan. Good afternoon and thanks to everyone for joining us today for our inaugural earnings call as a public company. We're excited to share our results for the second quarter of 2023 and provide you with some color on current market conditions. But first, I wanted to give you an overview of who we are and what makes our company special. United Homes Group is a South Carolina-based home builder focused on the more affordable segments of our market. Formerly known as Great Southern Homes, we've built over 11,000 homes since 2004, turning a profit each year of our existence. We are home builders first and foremost with the passion for building high quality homes and making the American dream a reality for home buyers in our markets. We are also a group of entrepreneurial businessmen and women committed to the idea of continuous operational improvement, whether it's securing land in a more capital efficient manner, taking costs out of the business, or finding ways to reduce cycle times. We are constantly striving to get better at our jobs and improve the return on capital. I like to say, take ownership, act like an owner. Now that we're a public company, we're excited to expand our successful home building model to other high growth markets in the Southeast. We believe there's an incredible opportunity ahead of us given the strong fundamental trends we see playing out in the markets we're targeting. A combination of strong employment trends Reasonable affordability and better overall quality of life are bringing people to this part of the country, a trend that we expect to continue for the foreseeable future. In addition, the high interest rate environment has kept existing homeowners with low mortgage rates in place, resulting in a shortage of homes for sale and creating a real opportunity for new home builders to fill the void. Acquisitions will be a key component of our growth strategy, and we believe United Homes Group will be viewed as an acquirer of choice for private home builders. Many of these small builders looking at an exit are founder-owned, a perspective that I can relate to, given my role in starting Great Southern Homes. I understand their needs and concerns, particularly when it comes to protecting their legacy and taking care of their employees. Unlike most potential acquirers, we are looking to build on what local builders have already established rather than stripping it down for the land and homes and backlog. In most instances, we are interested in retaining their people so that we can leverage their local market knowledge and expertise. We believe these factors give us an advantage relative to other potential acquirers, and we look forward to sharing updates on the M&A front in the near future. Someone who will be instrumental in getting these deals to the finish line will be our new president of home building operations, Jack Masenko. Jack comes to us from BTIG, where he was a key figure in guiding our company through the process of going public. Jack has a great understanding of our business and what we are trying to achieve in the next phase of our company's evolution. We are thrilled to have him as part of our leadership team. So, with a favorable fundamental outlook, a proven operating strategy, and a strong balance sheet, United Homes Group is poised to build on the great Southern Homes legacy that was started almost 20 years ago. We believe there's a long runway for growth ahead of us given the supply and demand dynamics in place today and the long-term demographic trends playing out in our markets. As a result, we're excited for the journey ahead and believe the best is yet to come. With that, I'd like to turn the call over to Shelton, who will provide more detail on operational results this quarter. Shelton?