Hirequest, Inc. (NASDAQ:HQI) Q2 2023 Earnings Conference Call August 10, 2023 4:30 PM ET

Company Participants

John Nesbett - IR, Institutional Marketing Services

Richard Hermanns - Chairman, President & CEO

David Burnett - CFO

Conference Call Participants

Michael Baker - D.A. Davidson & Co.

Kevin Steinke - Barrington Research Associates

Aaron Edelheit - Mindset Capital

Michael Albanese - EF Hutton

Operator

Greetings, and welcome to the HireQuest Inc. Second Quarter 2023 Earnings Conference Call. [Operator Instructions].

I will now turn the call over to your host, Mr. John Nesbett, Investor Relations. John, you may begin.

John Nesbett

Thank you. I'd like to welcome everyone to the call. Hosting the call today are HireQuest's Chief Executive Officer, Rick Hermanns; and Chief Financial Officer, David Burnett.

I'd like to take a moment to read the safe harbor statement. This conference call contains forward-looking statements as defined within Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. These forward-looking statements and terms such as anticipate, expect, intend, may, will, should, or other comparable terms involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. These statements include statements regarding the intent, belief, or current expectations of HireQuest and members of its management, as well as the assumptions on which such statements are based.

Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in HireQuest periodic report filed with the Securities and Exchange Commission and the actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, HireQuest undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

I would now like to turn the call over to the Chief Executive Officer of HireQuest, Rick Hermanns. Go ahead, Rick.

Richard Hermanns

Thank you, everyone, for joining today's call. I'll begin by providing an overview of our financial and strategic highlights from the second quarter and year-to-date. And then I'll turn the call over to David, who will share more details around our second quarter results.

Our performance in the second quarter reflects our ability to deliver solid results despite what I can -- what I think can accurately be described as a difficult economic environment. As I have frequently said, we have a unique model for the staffing industry, and the results this quarter reflect the strength of the franchise model. Our franchisees are entrepreneurial and incentivized to run a successful office no matter what the market environment, and we are seeing solid execution across the franchise base. This quarter also includes MRI Network and the over 200 franchise offices we onboarded as part of that acquisition at the end of last year.