DLH Holdings Corp. (NASDAQ:DLHC) Q2 2022 Results Conference Call May 5, 2022 11:00 AM ET

Company Participants

Chris Witty - IR Advisor

Zach Parker - President and CEO

Kathryn JohnBull - CFO

Conference Call Participants

Joshua Zoepfel - Noble Capital Markets

Operator

Good morning, and welcome to the DLH Holdings Fiscal 2022 Second Quarter Earnings Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Chris Witty, Investor Relations Advisor. Please go ahead.

Chris Witty

Thank you, and good morning, everyone.

On the call with me today is Zach Parker, President and Chief Executive Officer; and Kathryn JohnBull, Chief Financial Officer. The Company’s earnings release and PowerPoint presentation are available on our website under the Investor page.

I would now like to provide a brief safe harbor statement, which is also shown on Slide 2 of the presentation. This call may include forward-looking statements that relate to the company’s outlook for fiscal 2022 and beyond. These forward-looking statements are subject to various risks and uncertainties that could cause actual results and events to differ materially from these statements. Please refer to the risk factors contained in the company’s annual report on Form 10-K and in our other filings with the Securities and Exchange Commission. We do not undertake any duty to update any forward-looking statements.

On today’s call, we will be referencing both GAAP and non-GAAP financial measures. A reconciliation of our non-GAAP results to our reported GAAP results is included in our earnings release and in the investor presentation on DLH’s website.

President and CEO, Zach Parker, will speak next; followed by CFO, Kathryn JohnBull, after which we’ll open it up for questions. With that, I’d now like to turn the call over to Zach Parker. Please go ahead, Zach.

Zach Parker

Thank you, Chris, and good morning to everyone. Welcome to our fiscal 2022 second quarter conference call. We continue to produce strong results and remain on track for one of our best years ever. Before addressing the financials, let me once again recognize the stellar performance of our nationally dispersed workforce during this period. Business transformation and performance delivery depends upon our people and we are blessed to have a truly committed team. In addition, our hearts go out to the Ukrainian people who are suffering from the Russian aggression and the humanitarian crisis resulting.

Now turning to Slide 3. I remain pleased with our start through the second quarter of our fiscal 2022. Our second quarter results were consistent with our expectations and continue to demonstrate strong execution across both revenue and EBITDA. Once again, as in Q1, our short-term contracts with FEMA in Alaska drove revenue significantly higher year-over-year to $108.7 million this quarter. However, even excluding the $39.8 million of FEMA-related work, we saw sales grow organically 12% versus 2021 as our programs remain in very solid demand, albeit with a slowdown award environment in Washington. Revenue rose across all 3 of our market segments year-over-year.