Verra Mobility Corporation (NASDAQ:VRRM) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET

Company Participants

Mark Zindler – Investor Relations
David Roberts – Chief Executive Officer
Craig Conti – Chief Financial Officer

Conference Call Participants

Faiza Alwy – Duetsche Bank
Daniel Moore – CJS Securities
Keith Housum – Northcoast Research
Louie DiPalma – William Blair
David Koning – Baird

Operator

Good afternoon, ladies and gentlemen, and welcome to the Verra Mobility Second Quarter 2024 Earnings Call. At this time all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Mark Zindler, Investor Relations. Please go ahead.

Mark Zindler

Thank you. Good afternoon, and welcome to Verra Mobility's second quarter 2024 earnings call. Today, we'll be discussing the results announced in our press release issued after the market close along with our earnings presentation, which is available on the Investor Relations section of our website at ir.verramobility.com. With me on the call are David Roberts, Verra Mobility's Chief Executive Officer; and Craig Conti, our Chief Financial Officer. David will begin with prepared remarks, followed by Craig, and then we'll open up the call for Q&A.

Management may make forward-looking statements during the call regarding future events, anticipated future trends and the anticipated future performance of the company. We caution you that such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Actual results may differ materially from those projected in the forward-looking statements due to a variety of risk factors. These factors are described in our SEC filings. Please refer to our earnings press release and investor presentation for Verra Mobility's complete forward-looking statement disclosure. Any forward-looking statements that we make on this call are based on our beliefs and assumptions today, and we do not undertake any obligation to update forward-looking statements.

Finally, during today's call, we will refer to certain non-GAAP financial measures. A reconciliation of these non-GAAP measures to the most directly comparable GAAP measure is included in our earnings release, quarterly earnings presentation, investor presentation, all of which can be found on our website at ir.verramobility.com.

With that, I'll turn the call over to David.

David Roberts

Thank you. Thank you, Mark, and thanks, everyone, for joining us. We had a strong second quarter with revenue, adjusted EBITDA and earnings directly in line with our internal expectations. The businesses are performing as expected, and we're poised to have a strong second half of the year. Travel demand remains robust, and we anticipate continued strength through the balance of the year. Year-to-date TSA passenger volumes as of June 30th stands at 106% of 2023 volume for the same period, driven by strong consumer and business demand with the latter demonstrating potential for more growth.