Construction Partners, Inc. (NASDAQ:ROAD) Q2 2023 Earnings Conference Call May 5, 2023 10:00 AM ET

Company Participants

Rick Black - Investor Relations

Jule Smith - Chief Executive Officer

Greg Hoffman - Chief Financial Officer

Ned Fleming - Executive Chairman

Conference Call Participants

Andy Wittmann - Baird

Adam Thalhimer - Thompson, Davis & Company

Stanley Elliott - Stifel

Brian Russo - Sidoti & Company

Operator

Greetings and welcome to the Construction Partners, Inc. Second Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Rick Black with Investor Relations. Thank you. Mr. Black, you may begin.

Rick Black

Thank you, operator and good morning everyone. We appreciate you joining us for the Construction Partners conference call to review the second quarter results for fiscal 2023. This call is also being webcast and can be accessed through the audio link on the Events & Presentations page of the Investor Relations section of constructionpartners.net. Information recorded on this call speaks only as of today, May 5, 2023.

So, please be advised that any time-sensitive information may no longer be accurate as of the date of any replay or transcript reading. I would also like to remind you that the statements made in today’s discussion that are not historical facts, including statements of expectations or future events or future financial performance are forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. We will be making forward-looking statements as part of today’s call that, by their nature, are uncertain and outside of the company’s control. Actual results may differ materially. Please refer to this morning’s earnings press release for our disclosure on forward-looking statements. These factors and other risks and uncertainties are described in detail in the company’s filings with the Securities and Exchange Commission.

Management will also refer to non-GAAP measures, including adjusted EBITDA and reconciliations to the nearest GAAP measures can be found at the end of our earnings release. Construction Partners assumes no obligation to publicly update or revise these forward-looking statements.

And now, I would like to turn the call over to Construction Partners’ CEO, Jule Smith. Jule?

Jule Smith

Thank you, Rick and good morning everyone. With me on the call today are Greg Hoffman, our Chief Financial Officer; and Ned Fleming, our Executive Chairman. I’d like to start the call by welcoming Greg to his new role in his first conference call as CFO. Greg and I have worked together at CPI for many years, while I was President of Fred Smith Company in North Carolina, and he was CFO of Wiregrass, our Alabama Platform Company. Alan Palmer hired Greg in 2009 and he has been part of CPI’s growth story for well over a decade. He has executed our strategy. He knows our people and our culture and he deeply understands our financial systems at both the operating company and corporate level. Over the past 2 years, Greg has been working closely with me in Raleigh on this planned transition and we both feel it has been a tremendous honor to work with Alan. I am extremely thankful for Alan’s wisdom and hard work in building CPI into one of the leading infrastructure services companies in the nation.