Heritage-Crystal Clean, Inc (NASDAQ:HCCI) Q1 2022 Earnings Conference Call May 5, 2022 10:30 AM ET

Company Participants

Brian Recatto - President & Chief Executive Officer

Mark DeVita - Chief Financial Officer

Conference Call Participants

Michael Hoffman - Stifel

Jim Ricchiuti - Needham & Company

Operator

Good morning, ladies and gentlemen, and welcome to the Heritage-Crystal Clean Incorporated First Quarter 2022 Earnings Conference Call. Today's call is being recorded. [Operator Instructions]

Some of the comments we will make today are forward looking. Generally, the words: aim, anticipate, believe, could, estimate, expect, intend, may, plan, project, should, will be, will continue, will likely result, would and similar expressions identify forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward looking statements. These risks and uncertainties include a variety of factors some of which are beyond our control. These forward-looking statements speak as of today and you should not rely on them as representing our views in the future. We undertake no obligation to update these statements after this call.

Please refer to our SEC filings including our annual report on form 10-K, as well as our earnings release posted on our website for a more detailed description of the risk factors that may affect our results. Copies of these documents may be obtained from the SEC or by visiting the investor relations section of our website.

Also, please note that certain financial measures we may use on this call, such as earnings before interest, taxes, depreciation and amortization or EBITDA and adjusted EBITDA are non-GAAP measures. Please see our website for reconciliations of these non-GAAP financial measures to GAAP. For more information about our company, please visit our website at www.crystal-clean.com.

With us today from the company are the President and Chief Executive Officer, Mr. Brian Recatto; and the Chief Financial Officer, Mr. Mark DeVita.

At this time, I would like to turn a call over to Brian Recatto. Please go ahead sir.

Brian Recatto

Thank you, operator. Good morning, everyone and thank you for joining us today. On behalf of the entire Crystal-Clean team, we are happy with our record first quarter earnings and are focused on taking steps to fight the unrelenting inflation we and many in our industry continue to experience. On a total company basis, we performed well during the quarter exceeding our plan from a revenue, net income and EBITDA standpoint. Mark will provide additional detail. The total first quarter revenue exceeded expectations at $139.4 million, which helped produce record first quarter EBITDA of $24.1 million, which was up 45.5% compared to EBITDA in the first quarter of 2021.