Solaris Oilfield Infrastructure, Inc. (SOI) Q3 2022 Earnings Conference Call November 1, 2022 11:00 AM ET
Company Participants
Lindsay Winterhalter - VP, IR
Darrell Crate - Executive Chairman
Bill Trimble - President, CEO and Director
Meghan Baivier - EVP, CFO and COO
Conference Call Participants
Michael Griffin - Citi
John Kim - BMO Capital Markets
Michael Carroll - RBC Capital Markets
Michael Lewis - Truist
Operator
Greetings and welcome to Easterly Government Properties' Third Quarter 2022 Earnings 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] Please note this conference is being recorded.
I will now turn the conference over to your host, Lindsay Winterhalter. Thank you. You may begin.
Lindsay Winterhalter
Good morning. Before the call begins, please note that certain statements made during this conference call may include statements which are not historical facts and are considered forward-looking with the meaning of the Private Securities Litigation Act Reform of 1995.
Although the company believes that its expectations as reflected in any forward-looking statements are reasonable, it can give no assurance that these expectations will be attained or achieved.
Furthermore, 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 most recent Form 10-K and Form 10-Q filed with the SEC and in its other SEC filings.
The company assumes no obligation to update publicly any forward-looking statements. Additionally, on this conference call, the company may refer to certain non-GAAP financial measures such as funds from operations, funds from operations as adjusted, and cash available for distribution.
You can find a tabular reconciliation of these non-GAAP financial measures to the most comparable current GAAP numbers in the company's earnings release and separate supplemental information package on the Investor Relations tab -- page of the company's website at ir.easterlyreit.com.
I'd now like to turn the conference call over to Darrell Crate, Chairman of Easterly Government Properties.
Darrell Crate
Great job. Thanks Lindsay. Good morning, everyone, and thank you for joining us for the third quarter conference call. Today, in addition to Lindsay, I'm also joined by Bill Trimble, the company's CEO; and Meghan Baivier, the company's CFO and COO.
During the quarter, we entered a new phase in the real estate market, rates are rising quickly, how fast is uncertain. The transaction market has slowed and there is a gap between buyer and seller expectations. Cap rates are readjusting.