- Earnings call transcript Q3 2022

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Operator

Good day, and welcome to the Quest Resource Holding Corporation Third Quarter 2022 Earnings Call. Today’s conference is being recorded. At this time, I would like to turn the conference over to Dave Mossberg, Investor Relations representative. Please go ahead, sir.

Dave Mossberg

Thank you, Jenny, and thank you, everyone, for joining us on this call.

of like predictions, everyone statements estimates events future I’d call this regarding begin, or contain may and performance we to that remind conference future Before Quest. other forward-looking project, Use of similar are to intended expect, believe those statements. and expressions forward-looking estimate, identify words other intend, anticipate, like Quest’s are projections, expectations, beliefs risks and forward-looking statements current significant uncertainties. Such assumptions and based on estimates, and involve factors, discussed which Quest Exchange results discussed the result could in those the or from a with forward-looking events detail Actual of Commission. greater materially various are in filings in as statements differ Quest and Securities

You date SEC are by to filings made, any duty and reliance presented such Quest undue our risks statements additional are on uncertainties. we unless so and disclaim such cautioned do not update required to for forward-looking law. to consult the and statements of to statements place as

observations other government conditions and data In as are reports well addition, sources. and and publications, data Quest industry in based Quest research market by market and views other include information this on we estimates, information, statistical developments. may The and independent about publications and call, as firms and industry

these Chief These measures the be core future it we used verify President non-GAAP the any non-GAAP are believes over of non-GAAP prospects noted, and the reliable are assessment call. earnings information measures to be these is by are the make I’ll this Ray performance. during operations evaluate will and in and results on Unless forecast financial that accuracy turn not the Hatch, Executive useful other – are or discussed to sources the reconciliation Certain strategic today’s it now of to of GAAP to be for accurate, believes a decisions, will company’s measures investors that understanding presentation is results in Management Full the and management financial With discussed call the Officer. non-GAAP and current assumed the should Ray? information. Quest caution measures Although non-GAAP this does sources Quest included otherwise financial future. release. financials of that data company’s independently said, reliability in the basis. ongoing of

Ray Hatch

to and of Thank in the lowered expense, in have interest good generated XX% quarter. had profit. Dave, We thanks, XX% in there would everyone, you, Quest. adjusted was a related our increase gross We adjustment vendor EBITDA. at million. million adjusted growth your quarter revenue, expenses acquired an delivered In in gross one companies, recently for $XXX,XXX the EBITDA for profit EBITDA. Without We one profit, quarter, $XX.X $X.X another and $X.X million in in $XX.X which adjusted that for of million been gross a our

Our outlook positive. remains very

all our has an expect on Quest. executing year of and exceptional finish of strategic initiatives been for are a strong We to what growth

market for continue Our how challenging the and can of model business that’s perform our results demonstrate been well a in others. strength to environment we

fees. recovery profit offset inflationary with not structure, the by pressure We’re flexible cost due impacted and of And fluctuations. gross price pricing our able materially to commodity cost were to pricing nature dollars

recent to continue optimizing we addition, progress acquisitions. positive In make

in positions quarter fourth our customer detail the us across all new activity growth explain relatively the We during are and moving we next year. which profitable which pipeline, continued opportunities well I’ll see economic for through more And stable base, later. of

the and on financial it to financial his call Brett have CFO, happy get into to first now with to over turn leadership Before cover I’m Johnston, and Board. our welcome our team, to great Resource. to Quest want Brett is I a him with I earnings Brett addition detail, extensive more experience, overview. new I’ll to

Brett Johnston

proposition join has this of to unique underway. excited be Thanks, Quest point and transformation well growth. Ray, am proven a the and become its the history, in value large also in lot especially strong a is part continued at Plus, everyone. team. I a for very to and and leadership, that culture to afternoon, a I’m has thrilled I’m Quest, market, excited see part of potential and of good I

speed Before immensely I her past as has in our Laurie also of helpful weeks. couple financials, up review CFO, I’d in She thank make the like getting for transition. been former we support Latham, the me to ongoing to the

moving on to Now our results.

financial due Revenue line business growth. contributed expectations, with a all our expansion M&A XX% activity. growth of of results from in new quarter were and combination with Third customers, year-over-year to increased drivers year-over-year existing to and the growth major customers

profit increased quarter, XX% dollars was $XX.X year-over-year. the third increase to a which million, gross During

customers addition growth incremental we contribution dollar profit new from we roll Gross add continue our expanded with XX and existing past programs services. across In that months. to footprint to new strong dollar year-over-year to from we the will out profit to from and see in service months growth we as have customers, added gross their services new continue acquisitions, both customers XX benefit

come optimize service cost structure and will delivery we delivery as across our footprint. of growth the customer Additionally,

profit Over last quarters, have in the dollars. been sequential there the comparisons variations gross few for

the related dollars sequential explain work the to in quarter was The want to integration we during of during take decrease So primarily I to gross profit these the XXXX. acquisitions end for ongoing completed a fluctuations. minute third

sales. gross in call, out I we identified commodity that performance with during second pressures during and and was sequential applying acquisitions that of cost third and are quarter. the process we I positive with some for expectations discussed want Similarly, ongoing identified the dollar to accounting operational with prices. and to or one-time that catch-up quarter. gave completed negatively at end impacted expectations will our materially last necessary affected adjustment comparisons adjustments the by lower our profit the our point quarter, has line were adjustment consistent this not inflationary the of are acquisitions, some affected during XXXX, not a we year-to-date results also note last of our we our billings on plan practices made best As annual

As Ray to Due nature fluctuations, produced profit able the with cost quarter. impacted gross our per gross not pricing flexible of fees. measure our structure, pressure fairly and of earlier, consistent unit to were of which profit price dollars said offset cost pricing were during third we recovery dollars commodity regardless inflationary

unchanged the gross outlook profit Our is for for dollars year.

we dollars the to first was expect last during quarter’s mentioned the similar of half the call, to profit be year. during As second gross the half

partially efforts, momentum during pattern continued a and should by profit quarter. continued organic improvements and growth return of seasonal offset we the have fourth the benefit be in seen gross from that normalized Additionally, our from integration historically

$X.X Our of The relates the relatively the million the SG&A business last of year-over-year expenses year acquired first quarter and and this operations to compared during and during during year. third during compared were to same period that XXXX increase quarters to we XXXX. the unchanged $X.X million quarter second first the

platform. quarter, our acquisition processes increased costs During increase to and reflects will to $X continuously people expect ongoing the improve efficiency from costs continue investment overhead business integration million about be $X.X operations, the our in and costs acquired and SG&A systems, scalability fourth we of added and to million. The

related versus amortization increased intangibles. ago. depreciation to During of year the a acquisition million to was quarter, amortization The $X.X third and primarily $XXX,XXX increase

be to $X.X approximately million for depreciation expect XXXX. and We amortization

year-over-year. to and versus million adjusted expense is $X.X XX% last related $X.X debt third acquisitions increased to interest financing During increased the interest million QX year. quarter, increase in $XXX,XXX to primarily EBITDA the increase the The for an rate.

Moving a on to review sheet. the flow cash and of balance

We third quarter the pace nine $XXX,XXX balance down $X.X of extent, the third support capital flow The size to in at and, was of end used about investment operating year. than end quarter, year-to-date $X.X primarily the $X.X lesser cash cash of year-over-year. cash to the of the to Our more $X.X slowed of at million working doubling company cash of beginning during the to a quarter, versus million the the second use the and of the the million at related quarter. the year, first in operating in months and used our million flow was in

that larger, is point receivables receivables XX While out our of our collectibility balance our expectations. September was normal the within I would

on noted new have customers onboarded have was payment extended with last earnings quickly In had several ramped year. the our particular, terms. call, customers were during As that we industrial our

the third through a cycle During those we terms the during more to transitioned which schedule, quarter, typical will quarter. fourth payment

That As positive the expect we is, of operations the flow generate in rate. meaningful acquisition any growth from quarter. step-up fourth barring or course, current significant from such, run organic during cash to

the we year. of the smaller and quarter. $XX.X we payable That back During the during cash the the we XXXX, for the to first At increase end primarily acquisition quarter. nine approximately I’ll was CapEx in the versus at months utilized $XX.X reflects notes in time, that had the million to $X.X At financing completed call a turn this the million $XXX,XXX, Ray. first first during of acquisition beginning the finance of million quarter,

Ray Hatch

on resilience well of Brett. Thank economic with our perform some model continued how environment. the volatile and a you, I’ll in off start thoughts business we’ve to

our third the able in increases we future as have flexible to have These been quarter, gross to dollars. pass-through pressures throughout increases not contracts us mentioned surcharges. offset that place allow have through previous profit calls, affected on inflation, as we’re and cost including Regarding such pass with the in year,

Regarding the there one clients. days wide we can quarter. contract from generated metals, are which place our we was recycle This of agreement have volatility used oil case commodity recycling has the price was scrap streams. example, since not the quarter, the in these commodity affected value last decrease structure recycle plastics, had other swings. our that are pallets, you an on our variety commodities. materially a by oil, give of a metals significantly used so oil, for and the was scrap structures during in the when value one-for-one estimate we These dollars used our The largest $X million profit being now we recycled To of streams commodities prices, waste this gross clients, motor this including early our past of and in the sequential revenue. fluctuate of cardboard by company, motor cooking We impact a these the same quarter-to-quarter,

of remained prior the these the profit dollars materials However, volume relatively gross quarter. with even and the

the environment Regarding in economic general.

to have of the We we activity of and and growth. of both our and Within acquisitions, spoke recent This us. years. five well organic to new a a use customers. is actively capabilities deliver existing deliver the we’re produce I several program last consistently offering growth the We our wood of strategy in this is Each customer. our continue expand clients. land new existing for new base our added about value expansions our across at figures feel about good in customers, recycling last service We see We to to revenue seven quarter. added to at installed with front new introducing service adding a and those base strategy continue with growth levels end markets, the resonating proposition stable second existing to we maturity. services these pallet program will recently

recycling new implementing of addition, in adding two line at customers, in maturity. to and generate that confident metal new revenue new at to In for provide during to scrap expect which now figures received, clients. client new from services years, seven it we’ve we new organic continuing improved feel we’re come. like service This business and of of been each these we couple a retail existing a targeting has By On locations. growth continue recently we rolled well top major the out to with our and existing customers growth the contribution customers, existing geographies, last years will right closed to are program expand

multiple one several market. across one During surface quarter, third markets. of in the end in end the Since prospects automotive the added new customer quarter, end we’ve the seven-figure market the and we third new two large and wins, had industrial opportunities

over seven figures We new industrial will will XX ramp annual it revenue up eventually the XX months. January, following in to our course to in of the begin customer and implementing

this Our data to across sets multiple in data ability platform role and with provide a waste its streams uniform played supported key win. a

more These improve centralizing helping expertise scale and addition, all from environmentally the note management maximize waste In commodities. our waste our value to elements in cost-effective landfills streams more wood the divert we use also value manner. of Quest, their of the by and from proposition, a clients are can that become efficiencies, recycled comes core I’ll our more success success. friendly with

new this customer ramped multiple it next having market, industrial to expect us The is client. a an helped the the new existing has We’ll be company in onboarding referenceable customer. this grown in XX December we’ve clients begin sister automotive As secure up in and win days. service of fully

played winning also in key role Our data platform a this business.

data platform this federal environmental we reduce color the as coding ensure allows the improperly such containerized efficiently compliance as and reporting and data system hazardous things disposing at state specialty and disposal local color couple of archiving regulations, Specifically, us our also hazardous and manage customer. compliance offer innovative to platform, data other each to facility. different processes coding from the and waste. A processes in of manage of risk substantially with waste to expertise streams waste of like Along containers requirements well as this the

were been end RWS acquisitions made busy As last InStream, we’ve large discussed in at we’ve of calls, XXXX. the integrating of and the couple

has the of to volatility mentioned, cost acquisitions and comparisons. are the according sequential Brett integration performing these plan. As Overall,

to transactions. in continue reiterate only those that M&A additional also evaluate that maintain want to execute acquisitions. criteria. making to I continue We’ll We fit we’ll our discipline

I’ve like may there but XXXX don’t be we we periods before, will fair find several years be good of As any. deals found criteria, where said when there

for Regarding outlook growth overall, not changed. outlook, positive profitable has our our

and continued and successfully acquisitions. been year-to-date managed growth fourth new expect have ramping momentum positive customers quarter We during the integrating XXXX. for We and tremendous

adoption Now of services. the that the cash of we partially growth, to we’ve fourth flow lowering generation bar at regulation increasing digested and recycling improve quarter. to cost increasing for this are return Pressured expect operating sustainability, landfills to least in

incremental We dollars view as contracts will wins to as programs. new neutral The provide and onboard our business price fluctuations inflation continue as have we adjust. from mechanisms to net in gross to commodity place our these contribution continue profit client to

have on with expect efficiencies contribution Based and provide look the hand, to continue these with questions. cross-selling. factors we’ll our We Operator? and positive you like we we’re increased keeping from instructions acquisition to momentum and for in optimistic both from the incremental forward listeners integration for on queue all the next provide to several can operator now years. We updated how I on up progress. business

Operator

[Operator Aaron Thank will And with first we Craig-Hallum. Spychalla you. go to Instructions]

Aaron Spychalla

the Hi, for Ray. Brett. questions. Thanks Hi, taking

Ray Hatch

Aaron. Hi,

Aaron Spychalla

about that not it’s on you more sounds forward. expenses the first talked Can Maybe Hello. just be And one you just little it vendor bit one should color bit of on going a a from acquired recently companies. and think what was? you that little recurring like provide something

Ray Hatch

I there. identifying that was point one one and No, It was think company, expenses. vendor, the some acquired it was

our We that. As last Aaron, client through recall, integration clients lot a as billed, our you and meaning we received talked up have not been effort. services found quarter caught on that we of diligence, non-billings,

that also side This found now. the quarter, properly, done that’s hadn’t we and been vendor something recorded on

point. is to it your isolated so And an instance

Aaron Spychalla

and Can rate sounds compares All to it about the a the right. quarters? like whole Thanks. just And new last as that hear how just those on might you just stand of few maybe to then starting about pipeline, there. And improve wins. good maybe close is the talk where qualitatively to couple today a that

Ray Hatch

Yes.

the think I been slower longer lot think and it’s get have of these to to more fruition, about than rate the anticipated, think I anybody including done client. I close it’s – – taken a

starting these bottom. the added pipeline bigger last more QX. – was is now will just funnel as some to so feel Because in like on we’re It’s quarter, as catching And – continue strong this it to quarter. it’s good of nice top we’ll out because get up. hopefully, And and the we – move the more as the that’s we as into actually news we’ve

is vast streams. our really They’re all, maybe that it, boils got, generating the industrial purchase. elements down even some got cases, complex But or to of a potential Aaron, it’s not it, ago, smaller hard all indicative is signed. multi-location, had of important, know, because to significant these years have ability revenue. a think, of bit These a but things customers large in I waste couple don’t one of they the really I have in for what So getting were that it are clients their of quite lot quantify several pipeline ago majority, years

about going So two for can impact. is three we’re lot what a can do even of us. impact or huge excited One that to really a have wins win have

funnel the things to bigger is bottom. the we’ve So was, we it, than got of top it Aaron, the but on as keep these filling closed get

Aaron Spychalla

Right. Right.

it the I’ll and hear taking Okay. for turn luck. good questions. Good to over. Thanks

Ray Hatch

you, You Thank bet. Aaron.

Operator

we’ll And to Kitt next go with Pinnacle Gregg Fund.

Gregg Kitt

Hi, are you? Ray. How

Ray Hatch

are How Gregg? Great. you,

Gregg Kitt

you joining And great. for doing I’m Brett, team. the thank hi,

talk you get We’re forward. to going excited with to opportunity the

Brett Johnston

of you. thoughtful you. very Thank That’s

Gregg Kitt

Yes, thank you.

think, – I expansions a You three said and pallet. And one Did you talked recycling retail in I two at correctly? existing about scrap locations. you customer I that heard wood hear think correctly, metal if in I

Ray Hatch

Yes, you Yes. did.

Gregg Kitt

then Great. you And Okay. ahead. also go –

Ray Hatch

going to was clients, service capacities cross-sell profiles, added we’ve I is them, some – been abilities exciting. to into those some we’ve that clients, able are yes, say those and which are service great really existing

Gregg Kitt

opportunities? you And eight-figure that Could then like seven-figure Ray. those either Thanks, – two being new or mid-seven-figure customers. more of wins or end expansions up were added of the customer both type the new any the wins

Ray Hatch

One has sure. of that potential them for

other likely. and back I’m look, less to like not go quite I’d but The one sure.

Gregg Kitt

Thank one And question. more you. have I

investing You to these will the in capability platform investments and talked release about investing and you in allow scalability do? of the what data

Ray Hatch

– about the question, been believe focused for I propositions a mean, for Quest that Yes, of this we We it’s we’ve while. mean, is one Gregg. a scalability. something value and talked all this. key I on great quite is we’ve

net end the the of which be enables as lot to grow people find a to without much way, the new more to there’s us it And expanding capabilities a that with and so to we’re basis. ongoing build down, effect, far the more But volume revenue all go a efficient a day, in accurate Gregg, what back at doing. relatively to we’re us help as a associated what G&A. us allows with less, having show more you do us to if builds we’re in little add with reporting investing additional of charts that it in do lot lot more which on And also, an allow quicker, as lot our of boil our well and out complexity allows us to But allow it. systems automated, data rapidly

Gregg Kitt

Thank very the wins. It’s two you the expansions finish on it all year. waiting year, sounds – congratulations and much more new in and pipeline cross to been potentially and of things those the line we’ve the opportunities like for there’s been this

Ray Hatch

Thank You Gregg. Appreciate bet. you, it.

Gregg Kitt

you. Thank

Operator

next to go we’ll Capital. with And ROTH Gerry Sweeney

Gerry Sweeney

for Ray. the Thanks call. Hey, taking

Ray Hatch

Hey, Gerry.

Gerry Sweeney

Question a level. higher bit this on is – little

You can your your, is look portfolio have let’s I’m there how customers, a it. have you not I’m sure, out way gauge at do say, the say – to of many way to trying easy that – you of customers figure

inundated of another much more many If base your it, customer services? your to – fully how all with or has how has at customer way to look the ability your on services, base take still

Ray Hatch

about share, talking wallet you’re Yes, right? basically,

Gerry Sweeney

saying a would way easier much That it, be yes. of

Ray Hatch

Gerry. cross-selling the some of quantify And tell I we some opportunity. pretty to difficult base. like than significant It’s I sell that’s know I that again, not think that a of into But lot I hard by opportunity, more Gerry, we a quantify. there’s growth acquisitions us it’s brought tell capabilities here. good have client. lot client but expanded But I you, represents term more these client a the there’s mean, where We the enough emphasize that, can’t that can’t single you, will our list. others. can to a Well, of use to

have that And we takes services have client a – not. they have buying our spend. And existing we what just we within client that really to they’re clients. know that know we of we don’t probably. our group number that a services they’re macro us, continue just care services that’s We what really, group that And existing but from emphasis know for by to really – to an have. work I client, don’t expand

Gerry Sweeney

Underperforming? up And brought it. success the your would then How Got you it you expectation? meeting cross-selling. cross-selling? characterize of Exceeding? Is

Ray Hatch

I It’s the this. size of in And I of a opposed that – No, really better admit of that’s high. I My of we think spend markets am to I very great addressing or question. some don’t pellet to amount have there’s use was clients way wasn’t very a maybe as the that’s type some in areas we surprised some I expecting, weren’t it. hate surprised a was space. hopeful service. to the maybe pallets. expectation and by And significant pallet like few before spend put

say, where would currently, So than to be it’s quite I this potential the more at any it And definitely that. happy progressing, early exceed I’m a we It’s has stage. I massively I point. would and But expectation have. relatively it’s thought about

Gerry Sweeney

Final it. Got question.

strength more of terms so others seen the additions? activity any You’ve than client to of economy in in one areas

Ray Hatch

changes in I business themselves, the we’re seeing don’t client end lot the a of – of know strength you’re markets? about talking the the segments, that

Gerry Sweeney

Yes.

Ray Hatch

I’m seeing The fine. bad. don’t grocery Manufacturing, talk there. well I know of our seeing little on. that at of Gerry. Maybe end think sector what look I doing not automotive an if sector can weakness about in anything, a I know any our any different a going see, any markets, indication but But is fine. I is economist, change there’s segments more and at lot I these we or point, is of Again, frankly. there’s this onshoring all Yes. we’re increase seen haven’t

Gerry Sweeney

That Yes. in seeing customer terms areas any Or of final was... sort you wins? it the is finish in movement strength still of to Are line?

Ray Hatch

Yes.

that is I great sales And we that. are customer that streams have job of side along industrial looking has I The others. the not work to really than industrial and in Stephen sure on complex new is – today. Andy believe side, call. waste – lot on say for represent solutions a and if I win manufacturers I’m they the the a really Andy our think with would On side, side, better done there’s

food So there’s finding grow no waste numerous to ways other because goals, these continues there. the diversion reason, those. – landfill and manufacturers meet of because to of segment for a lot and opportunities have The of the grocers

to mean, our is But to if really, So side well. going, got the sector I of I food industrial one, strong. waste say have pick as had would a I too, lot has interest

Gerry Sweeney

Got it. for I it and appreciate thanks call. the taking

Ray Hatch

Gerry. You bet, Thank you.

Operator

go to with MKH next Management. We’ll George Melas

George Melas

you. hell Ray, Thank welcome to the Brett, good And team. Hi afternoon.

Ray Hatch

Thank you, George.

Brett Johnston

George, thank you.

George Melas

You’re welcome.

Okay. Quick would question us on quarter, of the but part how that little vendor catch-up not statement. of payment it quarter? Was you year. the during that quarter bit the be for sort and distributed third nature second Can of a that, a first catch-up the help the what’s understand

Brett Johnston

Hey is I’ll question. that take Brett. Yes. George, this

So into give bit QX. called little visibility it better out a we just to

And performance so that to the the the you be little year. But mostly see could first bit. related would a of half

George Melas

Okay. Yes Great. up. It’s it for and very helpful. thanks Thank that. bringing for you

Ray Hatch

Sure.

George Melas

from process RWS, streaming integration? in you of what integration from in from guys systems are that perspective? a a the Where are innings you in perspective, of sort got of think perspective, kind a you If depots

Ray Hatch

games on give those, innings I’ll three you That’s respectively. George, multiple of there. all

I change. happy teams. really It’s a a the purchased through well, another I adapt to innings. job. really They’re they’ve by I these done the job with we’re do. and think is think people late the have company we as difficult fine that when the folks working your in side, on with Very doing great company

as people far On processes. not with side. We’ve our along far really on working along, the the worked the will quite maybe as I them. but closely process say that group hard accounting side,

sales Our they’re group what marketing group doing. are integrated and fully into

in and side, So the standpoint, innings to also sourcing think well. middle vendor procurement they’re as I probably relations process later on I’d say, the

the obvious systems mean, a they’re On different behind on little platform. bit for that’s side, a lagging reasons. I

we’re out You moving cart. as But stages soon to the We’ve We’ll upset worked be on down three, want George. those, the on as plans. just on those the innings apple possible. all different don’t

George Melas

customer And at to looking top of and something, exactly to two then point I XX%. think now But at And out how Good and largest of that. a were that revenue, we’re your quarter XXXX, the want but into XX%. Okay. was to beginning not like know are I’m Great. just wrap question. the top concentration, sure the customer just during just XX% two the

partly seems it come massively, also growth with the of acquisition. risk like the customer So with has sort down the and massively

So great to that. see it’s

Ray Hatch

that is Well, question, great a see. can it I answer George, Yes, so I’ll call it. to

George Melas

Yes.

Ray Hatch

– We excited we’re that’s – about that.

really quality the We’re an good diversification get Customer achieve. adding When been one some to crazy. grow like always you portfolio. has goal customers, easy great not and you a to customers

get to more You got them to of up. keep

impact And that and yes, several so individual you, the of of diluted there’s Thank one been question. the are – George have two of for brought beginning on were that. we’ve part of But at the that kind the or acquisitions customers XXXX. strong that driving that

George Melas

maybe one question. then just And Great.

front, changes? see particular competition the do On you any

Ray Hatch

Competitively?

George Melas

Yes.

Ray Hatch

need, a does George, finding people is there’s those of up think that motor know on used pick typically, lot there a will we focus best. thing that pick all guys. very oil. that But I I there’s the sounds that trash, there’s people so. do a lot few focus that And like but we we do There’s do. of everything nobody that we up do. these silly, what out we things really interesting on don’t don’t the lot prospects

And has don’t think George. at changed all, so I competitively, the front

well opposed marketplace think job the do our just what showing good to possible I more we as as it’s a as to competitors. of on do us incumbent

George Melas

Great.

both much. of Thank Thanks Okay. very you, you.

Ray Hatch

Thank George. it. you, Appreciate

Operator

call no to Hatch over or other for with questions turn And additional in Ray the to queue, now would like any closing comments. I the

Ray Hatch

very, confident appreciate I traction very everybody thank I a long where I acquired We really Quest. appreciate it. got to all the of have. again employees about forward. lot want come companies Quest a really just are. in operator. their ways, We’ve efforts. to and greatly we you, and we the We Thank feel their we for thank of want and interest moving

to to ability Brett strength done and Quest and about as the to all have I team; her, and things all the forward. excited of she’s to Laurie to, for And of the another And excited We’re we moment of and continue and excited for Brett all of one, want grow welcome of well. shareholders. the to as more all take resiliency two, our our and you serve more to her go customers as thank service we’re We have us. appreciate to

much. So very I it. thank you appreciate

Operator

And your Thank call. you for so this concludes today’s participation.

You now disconnect. may

Quest Resource Holding (QRHC) 15 Nov 222022 Q3 Earnings call transcript