Gladstone Commercial Corporation (NASDAQ:AY) Q3 2023 Earnings Conference Call November 8, 2023 8:00 AM ET

Company Participants

Santiago Seage - CEO

Francisco Martinez-Davis - CFO

Conference Call Participants

Julien Dumoulin-Smith - Bank of America

Mark Jarvi - CIBC Capital Markets

William Grippin - UBS

Operator

Hello and welcome to Atlantica’s Third Quarter 2023 Financial Results Conference Call. Just a reminder that this call is being webcast live on the internet, and a replay of this call will be available on Atlantica’s corporate website.

Atlantica will be making forward-looking statements during this call, which are based on current expectations and assumptions, and are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements. If any of our peer assumptions are incorrect or because of other factors, including the risk factors section of the accompanying presentation, and in our latest reports and filings with the Securities and Exchange Commission, all of which can be found on our website. Atlantica does not undertake any duty to update any forward-looking statements.

Joining us to today’s conference call are Atlantica’s CEO, Santiago Seage, and CFO, Francisco Martinez-Davis. As usual, at the end of the conference call, we will open the lines for the Q&A session.

I will now pass you over to Mr. Seage. Please go ahead.

Santiago Seage

Thank you very much. Good morning. Thank you, everybody, for joining us for our third quarter 2023 call. Before we get into this quarter's results and performance, please allow me to share with you a few remarks about the renewable energy market and how Atlantica is positioned to take advantage of the opportunities we see in front of us. In first place, we continue seeing a high growth market for renewable energy in the US and in most of the markets where we operate. Demand for renewable energy continues to be strong, both from utilities and from corporates. Regulators, governments, financing entities, continue being supportive. The transition in our energy sector is a reality, and we can obviously debate if it will happen as quickly as what some people expected or expect, but it is obvious that at this point in time, solar, PV wind storage are low cost, clean, proven solutions in most geographies. As a result, we believe that the market will continue growing regardless of the cost of financing, regardless of the cost of oil or gas, regardless of whether a certain project or a certain technology happens or doesn't happen in a certain location. And again, this is simply because PV wind storage allow to offer cheap, low cost, clean electricity. The transition is therefore happening. We need to invest as a sector trillions of dollars over decades using many different technologies to make it happen. The opportunity is therefore here and will continue being there in the future.