Enviva Inc. (NYSE:EVA) Q1 2023 Results Conference Call May 4, 2023 10:00 AM ET
Company Participants
Kate Walsh - VP, IR
John Keppler - Executive Chairman
Thomas Meth - President and CEO
Shai Even - EVP and CFO
Conference Call Participants
Elvira Scotto - RBC Capital Markets
Mark Strouse - JPMorgan
Ryan Levine - Citi
Pavel Molchanov - Raymond James
Jordan Levy - Truist Securities
Operator
Good morning, and welcome to Enviva Inc.’s First Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Kate Walsh, Vice President of Investor Relations. Please go ahead.
Kate Walsh
Thank you. Good morning, everyone, and welcome to Enviva’s First Quarter of 2023 Earnings Conference Call. We appreciate your interest in and support of Enviva, and thank you for your participation today.
On this morning’s call, we have John Keppler, Executive Chairman of the Board; Thomas Meth, President and Chief Executive Officer; and Shai Even, Executive Vice President and Chief Financial Officer. Our agenda will be for John, Thomas and Shai to discuss our financial and operating results and to provide an update on our current business outlook and operations. Then we will open up the call for questions.
During the course of our remarks and the subsequent Q&A session, we will be making forward-looking statements, which are subject to a variety of risks. Information concerning the risks and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements can be found in our earnings release as well as in our other SEC filings. We assume no obligation to update any forward-looking statements to reflect new or changed events or circumstances.
In addition to presenting our financial results in accordance with GAAP, we will also be discussing adjusted EBITDA and certain other non-GAAP financial measures pertaining to completed reporting periods as well as our forecast. Information concerning the reconciliations of these non-GAAP measures to their most directly comparable GAAP measures and other relevant disclosures is included in our earnings release.
Our SEC reports, earnings release and most recent investor presentation, which contain reconciliations of non-GAAP financial measures we use can be found on our website at envivabiomass.com.
I would now like to turn the call over to John.
John Keppler
Good morning. Thank you for joining us. It’s clear from our earnings release and 10-Q filed yesterday that the cost and productivity challenges of the first quarter that the team outlined a month ago are deeper and more significant than understood at the time. And that the positive effects of the improvement initiatives are taking longer than expected, with the benefits expected to be realized still ahead.