Sterling Check Corp. (NASDAQ:STER) Q1 2023 Earnings Conference Call May 9, 2023 8:30 AM ET
Company Participants
Judah Sokel - Head of Treasury and IR
Joshua Peirez - CEO
Peter Walker - CFO
Conference Call Participants
George Tong - Goldman Sachs
Daniel Maxwell - William Blair
Greg Parrish - Morgan Stanley
Alex Hess - JPMorgan
Scott Wurtzel - Wolfe Research
Mark Marcon - Baird
Devin Au - KeyBanc Capital Markets
James Holmes - Stifel
Operator
Thank you for attending today's Sterling First Quarter 2023 Earnings Call. My name is Megan and I'll be your moderator for today's call. [Operator Instructions]
I would now like to pass the conference over to Judah Sokel, Head of Treasury and Investor Relations. Judah, please go ahead.
Judah Sokel
Thank you, operator. Welcome to Sterling's first quarter 2023 earnings call. Joining me today are Josh Peirez, Chief Executive Officer of Sterling; and Peter Walker, Chief Financial Officer of Sterling. The slides we will reference during this presentation can be accessed on Sterling's Investor Relations website under News and Events. The slides have been posted to our website and a replay will be made available on the website. After prepared remarks we will open this call for questions.
Before we discuss our results. I encourage all listeners to review the legal notice on Slide 2, which explains the risks of forward-looking statements and the use of non-GAAP financial measures. Additionally, please refer to our most recent Form 10-K filed with the Securities and Exchange Commission for a discussion of risk factors that could cause actual results to differ materially from these forward-looking statements. Our slide presentation and discussions on this call will include certain non-GAAP financial measures for such measures, reconciliations to the most directly comparable GAAP measures are in the appendix to the presentation and in our earnings release issued this morning.
I'll now turn the call over to Josh Peirez.
Joshua Peirez
Thank you. Judah. Good morning and thank you for joining us.
Sterling's first quarter of 2023 was a successful period of execution, and I am very proud of the accomplishments and results the team delivered, the year is unfolding as we expected, and as a result we are reiterating our 2023 guidance.
Slide 4 shows highlights of the quarter. First and foremost, this was a quarter where we took steps towards achieving our long-term strategy and ambitious 2023 goals. Our financial results were encouraging, our revenues were slightly favorable to our prior expectations even against the uncertain macro environment and our progress in executing our cost-savings programs in the first quarter helped us to deliver on adjusted EBITDA, adjusted net income and free cash flow that we're solidly above our expectations.