USA Compression Partners, LP (NYSE:USAC) Q2 2023 Earnings Conference Call August 1, 2023 11:00 AM ET
Company Participants
Christopher Porter - Vice President, General Counsel and Secretary
Eric Long - President and Chief Executive Officer
Eric Scheller - Chief Operating Officer
Michael Pearl - Chief Financial Officer
Conference Call Participants
Gabriel Moreen - Mizuho Securities USA LLC
Selman Akyol - Stifel, Nicolaus & Company, Inc.
Operator
Good morning. Welcome to USA Compression Partners Second Quarter 2023 Earnings Conference Call. During today's call, all parties will be in a listen-only mode. [Operator Instructions] This conference is being recorded today, August 1, 2023.
I would now like to turn the call over to Chris Porter, Vice President, General Counsel and Secretary.
Christopher Porter
Good morning, everyone, and thank you for joining us. This morning, we released our operational and financial results for the quarter ending June 30, 2023. You can find a copy of our earnings release as well as a recording of this call in the Investor Relations section of our website at usacompression.com.
During this call, our management will reference certain non-GAAP measures. You will find definitions and reconciliations of these non-GAAP measures to the most comparable U.S. GAAP measures in our earnings release. As a reminder, our conference call will include forward-looking statements. These statements are based on management's current beliefs and include projections and expectations regarding our future performance and other forward-looking matters. Actual results may differ materially from these statements. Please review the risk factors included in this morning's earnings release and in our other public filings. Please note that information provided on this call speaks only to management views as of today, August 1, 2023, and may no longer be accurate at the time of a replay.
I'll now turn the call over to Eric Long, President and CEO of USA Compression.
Eric Long
Thank you, Chris. Good morning, everyone, and thanks for joining our call. I am joined on the call today by Eric Scheller, our COO; and Mike Pearl, our CFO. This morning, we released exceptional second quarter 2023 results that were attributable to our ability to opportunistically procure and deploy new compression units, convert idle units to active status and secure attractive pricing for new and legacy units in an extremely tight compression market.
Our directed efforts in each of these areas have allowed us to create meaningful stakeholder value through the delivery of our best-in-class compression service offering under our disciplined capital management and organic growth compression-as-a-service business model. We continue to exercise capital discipline to returns-based capital allocations that direct capital expenditures to optimize returns, resulting in continued improvements to our balance sheet and progressing us closer to a state of financial optionality that affords us greater flexibility to deploy free cash flow to further reduce debt, make changes to our distribution policy, or pursue other strategic long-term investments and initiatives.