UFAB - Earnings call transcript Q1 2022 | Unique Fabricating, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to Unique Fabricating First Quarter 2022 Earnings Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Jeff Stanlis. Sir, the floor is yours.

Jeff Stanlis

Thank you, operator. I would like to welcome everyone to Unique Fabricating’s First Quarter 2022 Earnings Conference Call. Doug Brian Fabricating’s Financial Loftus, are Executive and Officer. call and Officer; Unique the Cain, President Unique Chief Hosting Fabricating’s Chief

like Litigation will risks include Before Doug, statements subject as matters call to the the forward-looking of on to Private XXXX in would are Securities discussed call I that Act remind and conference over this uncertainties. defined everyone Reform turn I to that

expressed risks, performance involve Factors. uncertainties uncertainties future are XX-Q Rule to that or future by known events may those and on and law. management’s in on and release required and with and results, All titled call the and actual quarterly does and and that All call. this not present including Fabricating Form Form on different risks levels report unknown Unique These SEC may to other performance pursuant uncertainties reports particular, section Forward-looking based the include, XX-K annual to, statements. not made those outcomes materially actual from are statements as relate the in this company’s materially cause update in unless information but XXX(b), Risk to such and expectations press or financial to afternoon’s those that and today, to this statements are and of the or by discussed factors results, intend by performance be to limited to filed on factors from those company’s are are of today’s risk expressed achievements such cause forward-looking implied activity, differ subject statements certain

this operations the are These management assessing current non-GAAP performance. in be this are call. measures financial these used is the be decisions, non-GAAP and future. results to core assumed make measures a Unless today. like basis. Management it would in and was GAAP press call prospects will certain should I turn discussed in strategic company’s financials call discussed are addition, for said, to over of non-GAAP the non-GAAP and that financial the that the to Doug. company’s understanding yours. release it be believes of earlier the ongoing future forecasts, on will presentation issued included useful reconciliations by stated, With the evaluate otherwise In now to GAAP call to that during Doug, any Full is investors measures

Doug Cain

outlook, and Unique of update afternoon, aspects appreciate Thank our you, Brian, and your and improvements make financial our Fabricating, results. management The and of the Jeff, overall good company’s I all for continue everyone. across operations of time investment business. to associates our team

benefit the improving fourth Our ahead. taken capable customer competitive results stronger efforts, we including we rationalization market position and the project, recovery and suppliers and activities, quarters cost and be further first show markets the XXXX, space. our upon Based of of improvement initiatives, relative to third serve quarter of over more with our in in one the effectiveness actions diversification the demonstrate quarter completed in seen our and the ongoing and are

and market volumes While realize we supply continue to issues the are supply overall chain benefits normalize the positioned well as continue, increase. to chain challenges and

aspects material impacted the negatively raw operational by costs chain. the Our in increases other labor and QX of performance was and all ongoing challenges continuing supply the across

XXXX. QX the net top our exceeded impact activities, line highest level $XX.X and sales of since prior recovery of guidance positive cost is the slightly the our With million

change in schedules continuing effectively the are increases cost in operating efficiency a the economy. recovery and noted overall in chain the challenges plant throughout margins. this to continuing certain and availability are the flexing of inflation also The As locations consistent increases higher and persistent see. have and continue negative we cost throughout on short-term previously, partially release seen actual of offsets cost and QX the complexities cost with Labor impact had supply

chain we QX I in shortage commitment availability is volumes demand of to urgency a previously, half improving continued and second through with these our solutions. comprehensive and finding other and factors challenges and entire a meeting While expect customer XXXX proud less higher how supply strong from do with challenges of the are to have fluctuations. see short-term outlined am we experiencing team chip seen and

effectively and augmenting focus the on respond of care our with of taking to continue customers We capability.

steps drive these we have conditions volumes to Unique, as increase. performance that As provide opportunities we are improved taken confident for necessary

during recovery Our increases. of have date initiated by to results positive comprehensive delivered some cost the cost and activities QX XXXX of offsetting

success having our programs targeted a and now specific focused approach impacted cost to by material recovery are more logistics We raw in negatively most pivot cost continuing on increases.

million costs be inflationary higher recovery expect customer partially realized to annualized by than Simultaneously, of We more the with quarter activities we project to cost see. our $X.X offsetting smaller fully these the rationalization end benefit, a second continue continues. the

being our Despite reduction $X condition customer million During approximate cost order impact. have we along other are in and related requirements QX, exit quantity to complexity forbearance previously price XX the more reducing and for SG&A approximately costs with by plants smaller syndicate, a These productivity customers. significant our the efficiency to we improve ongoing with increases our relationships revenue in high expect bank the level a seen of minimal smaller actions passing to communicated. and minimum higher

The approximately improving tactical $XX mentioned we Year-to-date, of million has costs investments improve secured we’ve robotics customer material We reducing last laser intake. continued. our order to or utilization. and our operating COI cutting the conference sustainable activity call a on have margins quotation in labor continued through higher in and manner

diversification our market and XX% We are the medical on in transportation goods with consumer XX% wins and markets, continuing our market the focus in appliance in XXXX of market. the XX% with

suppliers. key have targets wins additional medical identified with We to realize device

seals truck enable will further which customers. HVAC us light automotive produce to approval HVAC recently we injection for high-volume DASH of reaction to within achieved molded our expand application, duty front addition, a applications In

previously the We QX decorative one annual approximately best XXXX, inventory did quarterly are more to on sales increase XXXX. the be levels a suppliers units supporting providing demand The low and each positive the outlook. from compared inventory, historically continued XX.X additional light million than representing three each continuing rate in The of efforts or films. seven approximately remained of offerings less to continued sales impact has product U.S. and at million vehicle and areas adjusted of sales SAAR in units Resulting X, than the above was pent-up seasonally throughout forecasted automotive to integrated longer-term with expanded performance flat approximately million new million XXXX. foams American XX.X last March for months Light-duty from of the since with million XXXX as optical QX North our to collaboration equivalent month hand forecast X.X adjacent XXXX March’s formed which units independent low vehicle units. or April XXXX at production XXXX, XX% XX units for

units to last XXXX down approximate million the forecasted lead forecast average a XXXX with low nine an from March’s units from from previously, million units stated prolonged inventory production and XX.X from X.X As of of levels XX.X positive through of an combined at America outlook XXXX. the shortfall average The million production North for XXXX the million production approximately pre-pandemic shortfall years. four the XXXX volumes than more through indicates

be and We increase increase in QX costs. not QX. events be American produced QX higher million and $XX XX.X seeing to $XX Utilizing recognizing prior net impacts of logistics we sales in between in to our yet unfold except to $XX negative previous, material units are and any the between North production $XX QX and in million raw continuing the half for the China, decrease meaningful and from XXXX, third-party for to of the value, contribute from from the forecast Ukraine million to for production overall range reducing slightly million for are the a guidance second million

we sales also $XXX of million year $XXX dropping XXXX million. the forecasted approximately trends chain $XXX and see both of We conditions, a of $XXX and to million million. similar and term between for our overall improving second term supply We see million for previous levels near previously the improve X% forecast million range provided from between positive and chain expectation, between longer $XX prior issues with guidance confirming continuing With XXXX chain the are where and and forecast our the full reconfirm through half $XX we in also supply supply XXXX markets production confirming for costs. our can demand and other higher

markets well experiencing forecast in are as We uptick midterm and appliance specifically as gain China volumes, traction. consumer activities production increased both goods from near-term appliance as quoting onshoring activity in an and

delays, from to a facing, subject and have is employee months government to still we which the receive tax expect States the causing United few been income myriad next the retention million $X.X IRS credits. and Within loss to carrybacks substantial related the currently challenges combined

collaborative our sufficient work times. operate maintaining a first an bank to enable we liquidity challenging as XXXX will we syndicate date, Brian framework quarter provide of execution overview of us with now plans. our growth our the our longer-term continue develop to in results. are We To financial for these

Brian Loftus

Good everyone. Doug. you, afternoon, Thank

sales $X.X net lower percentage of quarter to costs as $X.X for the gross and manufacturing offset the $X.X operating SG&A customers revolving the XXXX the our the labor down the first as of fees sales transportation first costs, $XX.X professional million to This environment, million $X.X Operating and swaps. XXXX. of loss efforts per appliance partially expenses mark-to-market XXXX. sales market of increased net period expenses of some expense a to a to net of on decrease the diluted cost sales approximately was loss efforts. and salary The income in lower first the forbearance since to of last $X.XX in We expense of $X.X XXXX. X%, inefficiencies $X.X of $X $XX.X material, of quarter due decrease and in cost was or related the or expenses. line we our approximately $X.X and for of quarter of Total XXXX back lower quarter to recovery compared million position million an compared million and our XX.X% compared of last in some availability primarily compared financial for share you. increases XXXX. of or the the offset million provide X.X% million for $X.X Doug, as debt profit XXXX operating year. primarily customers and of Selling, where primarily result increased our offset our first as cash our or to first quarter of and higher off-road XXXX update the first now on a the with for amortized $X.X for sales or to the favorable quarter XXXX. Turning quarter million remarks. for provide to the profit our interest was our as year. of were credit. gross share I’ll expenses $X.XX of of compared recovery amortization year. both net cash of quarter administrative efforts the loss assets December fully first approximately $X.X for which $X.X $XX,XXX partially was compared were to increase million the in an the XXXX, and to reflects certain now had the Doug the quarter XXXX. $XX.X XX.X% in the adjustments Gross remaining million diluted compared net approximately compared per in million and for $XX.X million freight million first was will recovery income quarter period for closing expense These of through same $XX XXXX quarter, in is general market. cost first to accounted first Interest of for became The basic first were million to the on for our by of to quarter XXXX million $XXX,XXX tax attributable period profit consumer to input Of to year-over-year result and $X.X Net the first at ended of basic by the higher The The the cost net by lower liquidity. with net due million last approximately primarily results. first is agreement. benefit for decrease quarter first equivalents of the to pricing. was partially quarter rate XX, of million March XXXX quarter X% intangible sales was Net decrease an passed the to compared XX, brief first same our same quarter XX%, as We SG&A million

Doug Cain

Thank costs, We’ve last to With now despite of expenses results, the to our fixed higher forbearance committed been Brian. lower QX agreement extra seeing through volumes and improvements operating related and you, we’re years. enhancements activities. the ongoing significant these organizational challenging two benefits

result, to the chain capitalize supply and results quarters. availability improving, markets with effectively volumes generate on over next a now across able we’re all operating better As improved can increasing our

benefits from now Our team continuous improvement place. on all in the remains realizing enhancements in and focused areas

profitable and we of innovative, follows vision our optimized open longer-term markets increasing position outlook discipline. serve questions. fixed the With and providing our to for will value midterm customers. resulting improved maintain We shareholder of call committed for for we as from our delivering and that that, our sustainable are growth We we cost the Operator? our solutions about operating the brand positive in remain and the profit

Operator

Instructions] first Taglich comes Michael from from Brothers. question Our [Operator Taglich

Michael Taglich

$X quarter, in million terrific That’s Hello, this great positive a EBITDA. performance environment.

– So would you to sure you work giving very guidance had do now a for that the first it. you’re repeat hard would I’m Doug, you QX? do please thank for to me favor, you

Doug Cain

Yes.

question. thank So the you for

see. have using we’re again, and we latest that what So we forecast the

Michael Taglich

that is sales to? auto you’re America in number that North that what pegging And

Doug Cain

Yes.

produced was the in increases the slight a what had April QX, last it’s QX. units in basically XXXX. for middle The for then updated slight in and one overall and So be XX.X IHS decrease QX slight to million data, produced increase was that of a QX

expecting just be have of $XX we slightly between result, to and a QX as we’re $XX our million. revenue million range So modified that

for $XX and again and which is the million. million confirming million $XX confirming to million the XXXX. then And We’re year, full the our we in second $XXX numbers, for million numbers half again between that comparison full $XXX $XXX about did year

one range all In for values. cost increasing business based to maintain $XXX forecast be where and the primarily addition, the the And from. the based know to comes and third-party $XXX SG&A, even able a in we’re between sales XXXX. upon we million fixed around discipline upon of date, sales we’ll operating million leverage that’s today the and expecting And the with

Michael Taglich

Terrific.

will So you’re the at this about we’re point next in saying or quarter, that be basically good halfway quarter, QX through as at quarter, should better? QX – be least the as

Doug Cain

Yes.

better cost curve side, So, have we’re continued. you up mentioned, our challenges the and on the behind always side. end top on cost things. I the recovery the cost as Again, increases with slightly these the activities, And

are customers other activities, curve. eating which of kind with So work costs, reduction you the some as work as the you costs increase, on up best you can, end of cost you collaboratively the behind

the still that place we’re be is of and see our that end curve. the fully operating this in behind that with begin our QX implemented the are really we’ll to QX, a gross of have all But forward. things and bit QX, QX before improve benefits margins when profit will So

Michael Taglich

in had at and QX, a But QX you in right? correct? quarter-over-quarter like a if you will, had headwind have So QX, fun, And headwind as hopefully, if looked had a QX. a headwind of you sort you we I it QX some have you well, in

Doug Cain

way is you appreciate characterize the our That I that. intention.

Michael Taglich

the I’ll way impressive. probably more questions. what at. that a know and prices feels. for looking I ramp you Very raising modest this – Thank doing than seeing, the in With you not get actually back much tell I’ll answering line. collaborative easy you’re not it’s great modest you. is Thank we’re Great. you Okay. But were it job.

Doug Cain

QX pretty $XX but a increase Thank that percentage do ramp, of QX basis. I for in QX, QX that. million. you million comment range slightly significant to and should And When your a on QX the $XX above to be gave QX, see again, again, and

an increase there’s that’s So happening.

Michael Taglich

And Doug afternoon on good Brian. Hi, Gap] and quick [Audio a the question SG&A. Thanks. Great.

You’ve bring really down managed to very nicely. that

have that of fees some right now, includes forbearance roughly and You five agreement $XXX,XXX. roughly

so as – look As eliminate at that you you in forbearance QSXX. let’s see, fee

ramping As to XXXX up well, – where extent volume you XXXX, and in do keep see going? in that you some in SG&A

Doug Cain

So again, thank the the observation for going you question on work with of and the that’s that.

agency business One, that runs relationship an So we do two things. our call I’ll that some commission-based. of our with small of Asian it, very we that’s a business amount through, have

we predominantly that’s volume. to required into is So that had the support is to to are view there’s volumes to SG&A going The or that would of a no and necessary relative commission rest to increase be to based there there’s – that that little even bit the be fixed, able anything costs XXXX.

ongoing fees system drop no the go implementation the off, would syndicate some forecast When would forward. some bank a agreement Plex a have work We forbearance agreement replace reach in of of our $X But than of bit maybe these, the target reductions. is we finalizing that little say, some and built the more into as that $X the we’re of some was the maintain with of doing our and with we infrastructure to level we costs. SG&A million that million, condition then ERP I

Unidentified Analyst

margin. a the of material then a to next some maybe XX% the pressured years? some couple the It’s in on very in back at level cost inefficiencies been point mentioned that the – by and had Okay. raw sort go gross Can much question And you plants. of

Doug Cain

it having and variable it’s you operating a in is way is face a that partially our expenses, which of What the the one-third there. our basically So question. two-thirds it? like can. fixed Yes, targeting ramp, product I we’re appreciate can. I Can

So bit quite there’s as leverage of OpEx. revenues also with our the operating a increase

a second cost the the XX% reduction be going finalize to recovery plus of second activities. in of also in cost group additional targeting half half margin We’re year remain to have we and again, to QX as this is challenged, the gross and

sourcing So and locations there’s a suppliers through substitutions, the to working logistics lot working that with done material reduce collaboratively customers, our of with changing our we’ve relative cost. again to

not topside far it’s raw the activity, logistics So look but just as as it’s a material and a costs. comprehensive

recovery reduction cost cost combination and And higher the and of so the these volumes production activities activities.

a are next if I the We we as into you basis on XXXX. more XX% in all be we’ve then of targeting. again, range, tend inflation you’re the say percentage be gross you’ve higher, second but as the stressed. margins XXXX, in be XX%. Longer be where the reach then, to targeting to got in north be calls discussed an planning some are to the what phase XX% And term, plus would of And to sitting half would of would XX% little the your previously, are XX%, costs a and at moved your therefore, overall we is P&L,

Unidentified Analyst

that very very, clear. That’s very Great. you. much. Thank Appreciate

Doug Cain

you. Thank

Operator

have Taglich. We Nobile now Instructions] John [Operator from

John Nobile

and $X.X that to Doug to million and say and want environment nice Brian debt. it quarter, taking million in one to the paid afternoon you thanks just this in were And good off in about able challenging Hi, what the see for was something off it actually I questions. pay point the call for was

that that could of you on sheet. a kind that costs your nice balance ability the talk to on was about I manufacturers? little to was see pass So Doug, to rising auto hoping But

Doug Cain

loaded is, customers bit that my I That’s my today, a right a call challenging. are a I’ve ongoing that it’s sure John, of process. the got have it would smile on little somewhat you that which I’m a what tell an makes – again, now. But on I question, That’s a considering face few

a Our our have Tier OEs and Xs process. transportation in

the little and again. Some the greater we in a no supply of more greater and medical, year-over-year and transportation are. I’ll willingness that’s there’s more number onerous Others went I hiding cost base. I that go real. there. complicated, is on of Today, consumer the If process was say, side, Price touch are Producer and guess the Index what out a I’ll time greater understanding the goods consuming. collaborative, the understanding that to appliance and bit, was a They’re think the history increases and up There’s the a in XX.X%. they

then do more to So to it costs pass along those the to end they’re they’re also willing willing and customer.

that there. in all you’re and et that’s out cetera, appliance of seeing So the business

that’s then along the get XXX% as way understand with to we able customers. for Tier the been that another not We all clear again, have Again, are saying in that’s again of margin And a passing but cetera. no some there, that X, see been improvement. try as to need So operating have. And documentation Tier the customers targeted again, the the provide that is, X, working That’s and sets packaging, all and we’ll what increases my to have material we a of cost to bit pass there issues And go to I’m are labor been along. represented a We communications challenged materials June. in change raw little discuss to X more simpler. through this costs goods are whether reason, specific we’re you it some other X, the and and a that to intended and our that Phase back Phase from of raw do well programs, will costs, in in do or have I’ll the remain are than costs specific with appliance the the Phase as in Tier increases. have we step X and QX And the comments, specific date, reason continued that customers X. we is cost pass with increasing et along Unfortunately, and we’ve a with we very say, to and this was somewhat a what phase now the for to to product bringing end now space, and out we’ve consumer have noted the we’re those and increase, in conclusion our not cost later had perspective. sharing. we’ve able the the transportation QX support of as And that QX, our

XX% XX% of we XX.X%. XX% profit, targeting we sales – had or we’re of or And gross cost I QX, the So of said, second QX, year. in be had XX% like to north the half again,

John Nobile

that for Okay. know make on Well, thank comments takes increased to them. have increases half But barring the quarter, that. did the it not then? to prior by far in of second But getting after year, feel you second auto by say, manufacturers you efforts passed that cost a cost as reduction, the you I – attained prices, recovery cost as anticipated the – get you to cost further the the while you’ll

Doug Cain

is that one here, the – I that that America the I’m parts was our of speaking, I’ve other Cain to Ukraine where we Yes. as the of may increasing from North seen before, date, the from significant America predicted find things on which not it made as the But more other specifically. directly in expected, environment areas is a the again, impacts North situation, in call, done not having a mentioned. way sure seen Doug the had have have nothing but We’ve impact I chips China or or little situation, again, this COVID and in comment forecasted That’s what to It call. the I the be an again, this from its intention scarce raw stable way dramatic their to find I to subject materials, true. to relative And production it’s would things mentioned other world.

Some of of relative mentioned to the have production. that in some and OEs others their comments

piece that So what we’ve got. being seen we’ve of a

is here. production going be better So to

raw labor We give to saying materials to coming now on where curve but can’t up. seeing no in the these the longer are again, the their costs. They’re to that energy a base relative going price of and suppliers date, and our now raw us you beginning that expect, materials us and transportation, to, also are inflation I are and packaging bending material their increases involved other for coming we’re

So lower, have they the some cases, while reduction their in that, also they comments are a and made beginning increases percentage in are material. to base relentless see raw

you in be stickiness second we the see tilt the recovery the half will downside, that a begin recovery in year. then Again, the stickiness tell will cost curve sometime let’s same on trying the get and in cost this to on will of the There in occur can the some So pricing, I upside. to say.

for margins reasons. XXXX expect both So reason. we to those improve of And into that for

John Nobile

has like to All is impacting benefit? thank the competitors and it if hoping I’m to question. position? situation do going talk it’s final a beneficial actually right. And you competitive just cost a the wanted I be of leaving when Or been things little one an chain been the you? have get about was do detriment? you might think rising that. to And Well, idea current – it’s of issues, the for up, I impacting supply current to pick been where it’s position? wanted thinking, how how they’re your see I space you your could a competitive

Doug Cain

that’s No, that question to I could an probably minutes XX hours trying excellent question. three to comprehensively. spend answer

suppliers way to that in had beginning so other things, until of QX – benefit not wouldn’t in we cost do of we we this long, island, XXXX recovery takes we their we the started in too. an some we we we’re at and on then, last process to because back there, mentioned a to space, same now. some of going we call, were to we And going way out of it and they’re time, have some At maybe all be early you, back unwilling today. were the been would earnings I said were that that But it approach began notes and are QX it. were actually do but Had on we other of the our QX of in in process an spaces told see then. the the kind were seeing So to now again, we going the and were customers a there this, what at told I doing and in benefit our that island, we year. and know were lot we And this therefore, QX told XXXX, and tell

customers, would this last situation forbearance impact win So certain negative that’s this under that ability competitively, commercially. to we’ve that’s I also to bank also with us in been syndicate for business that a early, again, and certain the were in important where – agreement the was year, completing the agreement reason frowned this upon. and we with a had industries position say with on is our the

that’s been overhang an for So us.

and I’ll the of COI of has provided, lower situation raising So combination the part prices hoped say, our some agreement in desired, reason being are and than lower-than-targeted of our lower numbers. for, competitors’ a opportunities forbearance than for

everybody we public is Everybody up They after with if everybody and that price increases. things. being said, is else Now you same some what look have going us. to. communication suppliers these privately from of is And across know occurring, now the is industries challenged with caught with at the

the fact kept us flexible, There customers, because where else collaboratively we our And and the – we’re this meeting our to them. raw is our complete demands, good more bank, with be customer field with we being that And the we expect suppliers we level level a the commodity than supply, open materials working competitive in parts field base materials, being has situation raw pretty when more up very the much So our better playing and position the continue situation will with – today. customers. aware which we’re that is paying. global with okay, paying in a in us nobody the that is of, are to someone

high-volume We are a user.

that same costs the therefore, same everybody way, So et else’s in know way, prices we in labor cetera. the

competitive pretty improving our other recovery That’s So situation. cost the catching actually but to it’s a as activities. we are is people long complicated believe a up position answer, now

very from competitive have structure, North our a regions to our we good position logistics the relative in in being we facilities, cost from overall, of our from So like structure, feel all that fixed we’re cost America.

feel a well little a we base from from as to Europe sales forward. or very we like have Asia. base therefore, And positioned and supply even go exposure to we’re We

John Nobile

Okay.

was a in versus So only of playing competitors. their an increase recovery to game the field, of your time this they’re of actually maybe guess growth to position prices, starting going because now getting you’re forced that that of at now bit ahead of cost the a impediment it’s I competitive to little to, But they’re believe? I because finally point more level that’s help which your

Doug Cain

that’s Yes, correct. short absolutely that’s a shorter you’re a synopsis, much But yes. –

John Nobile

up. it Yes. Basically sum

Doug Cain

last took we QX all of But place that in to. year because had

John Nobile

good team. Thank the management you. Keep up work. Good

Doug Cain

you. Thank

Operator

have now Taglich Taglich Michael We Brothers. from

Michael Taglich

answered, is guys. good work. Thank question My you. Keep up the

questions All of my have answered. been you. Thank

Operator

from Okay. have MKH Melas Management. George now We

George Melas

CRI customer so XX% Yes. base, Brian, Hi to from a of diversify you’re year your away big is the – Doug far transportation. this and again doing effort pretty really

at don’t break it you further percentage you if consumer, So I medical? know from XXXX, would or of transportation? do think if you can into appliance be So – sort and look away and what industrial

Doug Cain

Yes.

what that’s would those is, things another that’s So that’s of again, interesting. say a one issue math I

XXXX a as couple its with in QX, goods. Brian a consumer expect transportation business equally dramatic consumer We things in picked vehicle of percentage X% and appliance transportation, difference And builds, transportation, into medical. by because increasing QX point and QX, in up of to earlier appliance you had and those and was in drop would XX% XXXX see the our of won’t So commented percentages. see probably X% in

with the the business quite hard closer those there’s The Gorilla very appliance probably about being I appliance though That’s value end increases, what think increases, probably rough a in in an percentages will But other, through move even the business or to dollar two XX% I but XX% and XX% and in from a in XX% increase approximation. XX% or X%. done presentation it’s for with the increase XX% it up medical XX% being our when got remember XXXX. just to other percentages. over XXXX a grows, XXX-pound are that that substantial. last I our You the I’ve did, years, can’t

percentage move the lot. a So in hard absolutes, to just it’s it’s growing,

George Melas

I think you I much. question lot you Great. Thank a the asked. answered very better than

Doug Cain

problem. No

Operator

in no further to questions you finish be to like with? have comments appear closing there queue. you Do any would Sir,

Doug Cain

Yes.

team So belief entire of doing. employees we’re in and management again, all Brian, I, X,XXX-plus and and the continued interest, the really appreciate Unique what Fabricating, in support investment

other remain positive the are had waiting that but us there. that little and love with to going customer rate macro be and more agreement little I would about to of be lot show will very will to improvements convinced longer very what in to are tell are a of business performance QX, will are We give revenue a intake wanting order operating bit because a and It’s we And are a the factors situation resolved. return we high not challenging, growth. Again, the firmly challenging. the place, bank seeing. because taken beyond are in QX QX, you we’re that for customers dramatic QX

we’re time your you. today available. forward or individually and ourselves to always make wherever group appreciate we we Thank it in or So be, look talking investing and may encouraged,

Operator

Thank conclude does This you, and conference call. today’s ladies gentlemen.

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

Unique Fabricating (UFABQ) 13 May 222022 Q1 Earnings call transcript