Earnings call transcript Q1 2023

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Operator

Good day, and welcome to the Yunhong CTI First Quarter 2023 Earnings Conference Call.

During today's presentation, all parties will be in a listen-only mode.

Following the presentation, the conference will be opened to questions. This conference is being recorded today, April 27, 2023. The earnings press release accompanying this conference call was issued last night.

is as Chief Schwan. Chief today Cesario; Officer, call well as Operating the Yunhong Executive CTI's Frank On Officer, Jana

we the to the want begin, you Before read should note forward-looking earnings company's that in press release. statements we

ended certain and will current future expectations that future certain financial assumptions call, and that company The are about statements events make Form and subject that today's XXXX, December to reflect to year predictive and predictions. for During bases risks performance results. management most the could views factors its these results XX, statements on company's some risk XX-K the The AX of differ lists from the uncertainties. important cause

measure. that press that EBITDA company's loss. earnings adjusted directly note measure, to as net release an also it operating adjusted financial or as GAAP the comparable believes company non-GAAP company The to such, the is performance views reference Please most financial measure and the makes EBITDA, a income

refer press information, Securities further filings release and Exchange the the periodic company's please with For the Commission. and to earnings

to time, over turn go I'd to Chief Yunhong Cesario, Sir, the like ahead. Officer call please this CTI. Executive At of Frank

Frank Cesario

joining Good and everyone, Matthew. appreciate for we today. Thanks, update our call you morning, us

had to comments, ultimately industry restructuring. was such And space, our pricing third player quarter time. a by that's of our the how of largest huge in contributing not much become has considering in In I helium The XXXX. changed struck issue world since the the a the lot

I'm that they We approaching fall share helium happen, levels. by closer. are can't And bottom as half it's getting thought from actually to we than normalized wait the that more line. year drop improved, we and continue but for revenue have own prior to for prices to saw our pleased

significant for first by year. overall the $X.X reflected growth the financial $X.X million, quarter this year our years last in results shareholder our from sheet of balance million couple $X.X only combined and of the trailed last improved all going in year achieved favorable trend, our to prior over value. operations Revenue strengthening with of realignment This are million and the

And terms of dollar in and terms. still despite that, both profitability increased percentage

in that satisfy with reported efficient as our all we are a Chief starts environment, operations structures relentless sales QX. role Jana supported our results and in played Schwan. we challenging a customers, Operating our more the improved finding Officer, and We in strengthening of which driving critical in She

that's of on welcome conversation, profitable. As the her Jana? more I force thoughts even making Yunhong today's CTI driving I believe to share Jana

Jana Schwan

and Thanks, everyone. Frank, hello,

some have worth of have from our prior We of talked about calls, these gained efficiencies terms in we they're initiatives. elements these in revisiting but

arena. been Our every investments to have activities has The track year-over-year. this incremental throughput us identified discipline opportunities automation strategy, increase with day make correct of We lines the certain in our staffing to gradual that allowed continue have we to approach and continuous workflows measure and a and manufacturing mindset. in improvement

reduced costly of and we situation the While advantage balloon to elevated inefficient eliminate prices helium overtime volumes, processes. took

long-standing. and strong are relationships vendor Our

and We into our insights source have to us while liabilities and allows operations our manageable. capital efficiently helps good their deployment working which capabilities, keeping manage

customers' every see what long-term It for individuals and done needs proud our even their call me expectations. exceed who achieve employees. makes XX employees are our must driving are in day I the understand leadership to These efforts to our goals and about and to be Finally, out dedication. to XX, factor XX-year XX, everything

Frank?

Frank Cesario

Jana. Thanks,

and We've just a about didn't results. cut talked our of for months number helium accountable it performance, XXXX reviewed ago, are an A adjusted EBITDA couple we and huge owned it. was We we issue. that

way to a through. have fight to find We

improved we from frequently can accept. there first today. we but $X.X we atypical in definitely quarter had last the million wasn't to million And share number We are both year we that pleased good as that answer. $X.X EBITDA have that despite to line benefits going or adjusted ways thought, to and that will the market I'm staking bad, occur, fight measure out costs we any for conditions, but of bottom an performance improved

be a promotional calling knows low-cost Nobody If as well they a and we items. are mechanism holds. supplies future the what our tend are period, balloons and party individuals families for experience for attention solutions businesses in to it's been recessionary that as as to countercyclical

a and We chain with and ended, issues with asset more all we've the debt dealing more haven't supply them ended growing them. level a become comfortable Inflation in with reasonable year thus effective base.

biodegradable We continue companies month, solutions. in next Asia. be compostable to partner and And on we'll work visiting

the of work goal to prototyping a material them of mind attractive We continue commercial in and these single solutions. viable with alternatives on to transitioning

sounds that it huge. happened so is prize would While But the easy, have already it if were.

know-how. are We holds engaged with connection patents on related and which to particularly our the this, UnihomGroup,

replay, Matthew, most question, them the if anyone here on catch and Thank a invite folks live ask Q&A. that but you. us to With understand please wants that, this I with into Matthew, is

Operator

Your [Operator Glenn is from first question coming Instructions] Hamilton.

Your line is live.

Frank Cesario

Hi Glenn.

Glenn Hamilton

and a know guess. I I Jana. quarter, of what Kind I was don't Hi, good expecting. Frank

the Quick So month? When go profitable, you're mainland, good. at are is it you least planning that's question. to to next

Frank Cesario

Yes.

chais early Trip So May.

Glenn Hamilton

point? be of at this you, to Directors, going or or Board just Jana, or just any yourself it Is

Frank Cesario

to we a but it's small crowd. be be team I have going No, going, And will a there. mixed yes,

have have connect that we We lot of on. a to things

to there. a lot in over while, move get once connecting and to in both counterparts I Jana So you things. in with have just our a And every do there person

Glenn Hamilton

so China accomplish half own and not. you I'm my Not join My by to just for of happy there? that's -- or but I here joking good. or would pretty be to well, too though, leadership the do out does daughter I'd What speak meeting kind but half Mandarin Jana there. team with airfare, to actually and going hope pay guys neither you Okay. and

Frank Cesario

most but is compostable the levels, different of for important push this number thing A solutions.

a things they in always we do. as And there's materials launch and balloon what see other trying and when make new disconnect goods who we're So a folks see party between manufacturer to doing that, materials.

things it's that to to look together push at get and solutions. to talk about kind together So and of have can commercial to important try we

Otherwise, we material slow forth. find that and back forth you're trading and And that's specs and going. back

So forward by we're on nature. success. And impatient everybody of it the a like to seems kind this time commercial to align move right trying into

Glenn Hamilton

at to even point, in this I can't say generated the to revenue do know you point? any fourth XXXX, you expect anything if Okay. at this or the be in year hard quarter say but it's

Frank Cesario

true. for been working We've to prototyping don't be that at It's know. point. for I this say just would impossible I while. on a love to

Some things others. than closer are

If don't. you your pocket, said, I'll do say you I have something in

we If that to do. just you how said, that's happen? going I'll I could something out. do say don't know play you have

Glenn Hamilton

Okay. ownership I see guess of, other like no to set it buying questions. shares. Keep And I again, up. would

about how down up know the I that, on but think, guess. tree, just I I'm you're you keep but feel wrong You what doing, barking this one,

Frank Cesario

I color. Thanks, appreciate the right. Glenn. All

Glenn Hamilton

Okay, bye. thank you,

Operator

you. Q&A That the our I Cesario. conference go concludes Frank Thank session. back Please will hand to ahead. now

Frank Cesario

commitment look with about going, nice look, what much. this we've doing. forward next you talk I thank to share QX we point touch a very when where been our call you right, And we've We're and is answers been All happy we and well. In keep pushing, it's going second you're our give looks half with that pushing to like. what the we're to meantime, and the you do. as that's what

for thank you have and good to So listening call, a day. our

Operator

This everyone. you, Thank concludes today's event.

your may you Thank disconnect at this for a and participation. have You time, wonderful day.

Frank Cesario	CEO, CFO & Independent Director
Jana Schwan	COO
Glenn Hamilton -

Yunhong Green CTI (YHGJ) 27 Apr 232023 Q1 Earnings call transcript