BHTG - Earnings call transcript Q1 2021 | Renovare Environmental, Inc.

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Operator

Good afternoon and welcome to the BioHiTech Global First Quarter 2021 Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode. Participants of this call are advised that the audio of this conference is being broadcast live over the Internet and is also being recorded for playback purposes. A webcast replay of this call will be available approximately one hour after the end of the call today through August 20 2021. I'd now like to turn the conference over to Scott Gordon, President of CORE IR, BioHiTech Global's Investor Relations firm. sir. ahead, go Please

Scott Gordon

Good conference and call. Keith. participating you in today's afternoon you, thank everyone for Thank

Chief Joining are Executive Essman, Tony from Fuller, Officer. me BioHiTech Chief Officer Global's and leadership team Financial Brian

will During Global's BioHiTech future be this for call, making statements, that expectations results. including operational or forward-looking performance address statements management

from other Forward-looking and may actual statements. factors statements involve results those cause that risks to differ materially

Form today, these factors of turn filed pleasure and May disclaims after about information that Tony Fuller. accompanies information May as risks, - only on described periodic content this XX, cautionary Tony, the law, BioHiTech's more to Except to today risk circumstances call, It in please required this filed For the or BioHiTech's accurate my over XX-Q is it. of obligation reflect is recently that go in most reports any to SEC, revise as time-sensitive that to ahead. with BioHiTech occur The XX-K please CEO, the call. publicly its call refer this call by to particularly update statements press any the or release XXXX. XXXX XX, events information now contains

Anthony Fuller

I good everyone And corporate and afternoon quarter Thanks, Scott. XXXX results to on welcome the to BioHiTech call. you financial first Global's update call.

our our We from of and solutions. grow waste to efforts drive and have revenue momentum expenses to the both complimentary maintained continue reduced across XXXX

Carnival largely continued $X.X Our in quarterly of an of XXXX. of XXX% quarter the high public increase record million, sales from $X quarter This in became first by over the XX%, driven surpassed growth revenue equipment quarter Revenues result since of a quarter Corporation. a by new first revenues fourth over equipment XX% was marking of over million digester purchases fourth and the BioHiTech XXXX our by XXXX. as were

the in as from our revenue percentage margins. expenses a and of quarter lowered SG&A by loss also operations significant We

first as the quarter, was the in $X.X $X.X represents loss to million million, fourth compared operating quarter which of During the a reduction XXXX.

and approach our by We results, plans. operating are these confident executing encouraged to in and on remain growth our

orders to continue disposal. totaling The reduction approximately largest and the targeting Revolution to whom actively up in are we've cost we proposition Corporation, last ends company, Companies of with others in our result the landfills industry and are been a Carnival transportation we goals the industries report expense beyond. pursuing Digesters our $X.X of of change in believe be streams. with expansion greenhouse We share value Series have of to million. waste, encouraged transportation by received food world's the are in gases reduced. waste that additional diverse of and associated waste that cruise that We're food The reducing contract food responsibly logistics climate substantial with and pleased the array our decomposition the since associated disposing can in food with updated, and to linked we eliminating waste maritime

real-time waste the food its problem at waste provides transparency, platform analytics which inception. data digester Our attacks of

realize to our offer. that the continue clients Our strong products and services value

to track in We to quarters. yield on additional coming the are confident into our expand that are industries efforts results

gain sales and and products efforts Our XXXX. our business in where healthcare, traction development continue government stores, in universities, grocery

a to comparable comparable as the by the expenses a compared $XXX,XXX during Turning now decrease were versus period of was to XXX,XXX our first HEBioT $XXX,XXX, decrease of in the offset XXXX. This of in quarter XXXX. period in XXXX facility, revenues

be that capabilities E.P.A. into function converting serve renewable destined recycled longer for recognized it that process municipal an no Our taking crucial plastics communities, and for to both are waste was fuel. to which and landfill a able

feedstock such What which opens for fuel, our that value With for uses we Btu learned additional we consistent additional growth. make many as have exploring for fuel. very a currently bio a a fuel plastics. good gasification, opportunities are We uses as is future for and

As alternative for a continues and growth fuel the key renewable of you component of uses our to to grow commitment development our in innovation can in our strategy XXXX. is see,

pleased are continued plant. in as along uptick efforts these uses the We lines our for an in fuel. We're interest we our renewable with the broaden seeing

excited to We technology are needs. our their prospects strong. regularly approached believe And how look understand growth the We our future to community serve we're the could as remains we for will Brian, into HEBioT Brian? the with the our additional that, now call CFO quarter, financial and who review results facilities. And for construction our to operation I'll first the over of stakeholders turn

Brian Essman

quarterly the during high of in of most since expenses first $X XX% the the of as everyone. quarter the Hello the over quarter to as had of quarter new XXXX. of XX of to quarter Tony less in a Selling as decreased that in rate million in XXX% sales as million XXXX quarter to grow in $X XX% first line XXX% of to and quarter of quarter the driven million XX% overall first March been increased decreased in financial to for quarter The ended XXXX of went first in XX% fourth and XXXX the first Cruise company to compared XXXX. and fourth XXXX first XX% of ended $XXX,XXX XXXX, mentioned Tony for first the XXXX of revenue to results quarter percentage XX was XXX% comparative XXXX. a operating XXXX. continues the fourth over continued revenues quarter $X as and total to compared revenues fourth comparative the with XXXX. Total company comparative and public in Digester of XXXX. of of and costs to general driven The and quarter quarter first of in the the of The first revenues, mark XXX% Lines increasing Thanks, XXXX. in the quarter to quarter achieve administrative compared of recently The XXXX revenue percentage contribution The growth in March high comparative Carnival direct the XXXX operations XXX% million from the Corporate has $X.X company business loss that quarter first XXXX quarter down a during fourth comparative from in the loss and by such as XX%

was the direct revenue During first $XXX,XXX quarter decrease $XXX,XXX, of in was facility the which costs. by $XXX,XXX, XXXX, of a offset HEBioT

Virginia, in each and operating respectively. at million have resulted in operating the been first by fourth the direct been $X decrease and in in decrease current at of the revenues partially $XXX,XXX partially As during quarter COVID-XX XXXX, costs. difficulties of has XXXX, In quarters, a during resolved. of kiln customers' on with its sequential constraints the contribution, West million XXXX the growth primary subsequent Martinsburg, quarter the in recently from million in fuel only $X.X resulting resulting compared from our quarter of ability the plant to other quarter accept been challenges was mechanical closure fourth company combined refiring has there offset a and to HEBioT negative and first comparative hindered $X.X a loss expenses loss to of that their which due when of $XXX,XXX XXXX, and XXXX, of fuel The solid

to company a $X.X March For had a ended million consolidated the XX incurred $X.X million, loss operating loss back you, will of of over net turn from the operator. million. $X.X $X.X consolidated Tony XXXX, At three in net back before the the cash call Thank of unrestricted Brian. activities I XX consolidated used million. and months operations the now over XXXX, March call turn cash we was to

entire and the the each In our achieved their investment accomplishments portion in of I team. the the upon We thank quarter. investors our in entrusting reducing pride with first closing, expenses. while in questions, we to over reflect progress would year-end our we determination. like would our and our Before I like to a dollars on deep turn drive record of for five to a and call I I thank pursue. tenants review, also dedicated espouse We causes our sense revenue company

the have plant. in operations improving We at progressed

a are capabilities. please to achieve Operator, to team intention. We grown vision with have through call questions. communicating mission our And and our the open our we singular

Operator

Instructions] Joel Network the from with X question first Marcus [Operator comes Financial. And

Joel Marcus

so Hi, have a guys. really Congratulations on a I much really promising don't of quarter. very I'm pleased. question.

and want years. and this believe really company I will in Tony the this I in comment. quarters to in like that a coming success add huge compliment And are Brian just I've And over been is cap As Management truly really I've years. XX truly, company, companies. a to been time, for during coming them. of make they many small way really, fabulous. registered the excellent. I believe involved I that them.

ups that to been So, for couple this that unquote seen really to for company blessed timer just as if downs. and I this involved with new express anyone management as industry. years a ever want be is in have the I've to who new management through And conference, and this I might quote a rarely good the with. this as as old capable of

really guys. the look you and work, future. thank Keep the to So, good forward I up

Anthony Fuller

script, I here as so in on all and Brian hold. causes, of that, deserve. which It will utmost future that And about are can to that you, to team I with we working done. And that team. for a what this you thank that causes represent is or you are to said effort work our we're Joel, than this probably and is we tell commit more the getting joy But proud these truly it's a excited privilege pursuing. the in I've we

Operator

Woo the Please from Mr. is Edward Woo, Capital. ahead, And live. question line next your Instructions] Ascendiant comes [Operator go with

Edward Woo

Have plan? ongoing really to get question. challenge? of kind environment? to through you back just Thank Or companies of as you of is to figure work a out pandemic, you taking more that's feel this their be change for it any competitive that Do time going and taking Yes. the business kind noticed possible normal my in big

Anthony Fuller

these you at bit, that customers environment. to who can't. this business a But a and were And at the to is would question. It all the opportunities. is getting are way will super been we're when strong, what opportunity back we're encouraging; That tell time we in better. the we're time you would business, through for in seeing, always we've see now possibly I we're I think we're as always personally I capturing business it year, better I tell look answering the that little to stakes compete. really ups has now, points, anybody these about back. opportunities are competitive a I question say, competition, past I'd been also business. perspective, excited that's that expand so Thanks getting the inflection think far a impacted your competitive represent honestly grow environment as that we a sectors, impacted welcome today that opportunities that from in makes today to to excited the by out And committed that the you the of coming thing and is, When have beginning you with been, to consumer that compete and and to on to to back businesses is environment and But we say these to them fair to we marketplace issues? globe. figure to do you, and understand Clearly, that are in How perspective? others top these are And and cleanliness with it's of fair at levels. that I What have of the is open - do figure solve more they of the we you're ever that so from to environmental again focused they a we that is year, the the demand as out past customer face operate an believe to think been compete than operator and higher going environmental some solutions if way? these have happy to the problems we're some same the operating more now have big the have. going small

your if question, follow-up. that So it answered not, hopefully

Okay.

Edward Woo

answers question. my That

your significant any My So Or a last been effective just aren't just on chain, components? maybe has of potential thank but your supply digesters? is more other with shortages you of - inflation your I as issues know with or use issues? you. question there for plant, any the

Anthony Fuller

last and in would today, of business, significant And you our runs Joyce our not what we've with pricing they've of tried do to we're Bob been hard a been that does. pricing, the issues but I all year. think of that we've many lots issues wind out. team not done supply are front on caused on with ride chain with that. it to seeing job great lots that We some occasion suppliers great certain getting We're tell standpoint, chain, going chain a supply us of of company pressure worked able part on that able of to out has issues it's there have isolated have supply simply we our I been big such that From to Yes, production concerns because volume that experienced enjoy, every instances. we've that and

locked that's who's I because inflationary have to going to not year, as in a that look I when the but business we're be talking going question in, the you coming won't we all pretty this deal years. forward, think well with much, at pressures? say environment about

Edward Woo

And guys, questions. Great. I Thank wish answering for luck. good you you my

Anthony Fuller

Thank you.

Operator

Fuller, like closing the Tony for to you. our back Thank to this And any would session. I over turn remarks. conference concludes question-and-answer

Anthony Fuller

for I to do you. I of exactly to our you wrap shareholders want all, a the my But to I this for results of notes thank was as grateful how were this each today. I the share participation opportunity I part lost truly being our with and to of up. going have

Thank a you. great day. have So

Operator

Thank for Thank concluded. you. attending presentation. The today's conference now you has

disconnect lines. now may your You

Renovare Environmental (RENO) 18 May 212021 Q1 Earnings call transcript