Postal Realty Trust, Inc. (NYSE:PSTL) Q2 2023 Earnings Conference Call August 9, 2023 9:00 AM ET

Company Participants

Jordan Cooperstein - Vice President of FP&A Capital Markets

Andrew Spodek - Chief Executive Officer

Jeremy Garber - President

Robert Klein - Chief Financial Officer

Matt Brandwein - Senior Vice President and Chief Accounting Officer

Conference Call Participants

John Kim - BMO Capital Markets

Anthony Paolone - JPMorgan

Jonathan Petersen - Jefferies

Robert Stevenson - Janney Montgomery Scott

Operator

Greetings, and welcome to Postal Realty Trust Second Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Jordan Cooperstein. Thank you. You may begin.

Jordan Cooperstein

Thank you. Good morning, everyone, and welcome to the Postal Realty Trust second quarter 2023 earnings conference call. On the call today, we have Andrew Spodek, Chief Executive Officer; Jeremy Garber, President; Robert Klein, Chief Financial Officer; and Matt Brandwein, Chief Accounting Officer.

Please note the use of forward-looking statements by the company on this conference call. Statements made on this call may include statements that are not historical facts and are considered forward-looking. These forward-looking statements are covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond the company's control, including, without limitation, those contained in the company's latest 10-K and its other Securities and Exchange Commission filings.

The company does not assume and specifically disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, on this conference call, the company may refer to certain non-GAAP financial measures, such as funds from operations, adjusted funds from operations, adjusted EBITDA and net debt. You can find a tabular reconciliation of these non-GAAP financial measures to the most currently comparable GAAP measures in the company's earnings release and supplemental materials.

With that, I will now turn the call over to Andrew Spodek, Chief Executive Officer of Postal Realty Trust.

Andrew Spodek

Good morning, and thank you for joining us today. We are pleased with our results in the second quarter as they demonstrate the ongoing success of our business model and showcase our management team's ability to execute in all environments. We enhanced our total liquidity position by exercising the accordion feature on our term loans and issuing equity through our ATM program during Q2 and subsequent to quarter end.