AMMX - Earnings call transcript Q2 2022 | AmeraMex International, Inc.

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Operator

Greetings, and welcome to the AmeraMex Second Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. And with that, I would now like to turn the call over to Marty Tullio. you. Thank

begin. may You

Marty Tullio

Good Darryl. morning, you, everyone. Thank

not services. plans, of cautioned begin that markets place the statements materially. speak we not Conference after to call. associated financial or with any and call on today’s risks, the Company’s statements date involve these call services publicly call, understands and forward-looking everyone undue future AmeraMex today’s and revisions release events growth may these forward-looking events size market products are reliance the that of demand important results, as forward-looking made uncertainties for performance differ only results, Actual participants relate as this and is to certain statements, it’s result which that Before are a unanticipated to Company’s call. to the in and obligated for date conference conference this of of development products

CEO, over Now, I’d like AmeraMex’ to Good call turn to Lee. morning, Lee the Hamre.

Lee Hamre

our floorplan maintain successfully for reported new Italian telescopic growth, down show. added at handler, partially recent of introducing of he’s from morning. in we the heavy demand COVID new to company. larger our and Brian we great as visiting morning, of and this To being you experienced thanks second was equipment, inventory of Tullio. is uncertainties. not shut for so year Hamre, the to being to member, a me field our customers, a on equipment some lines XXXX the We our revenue President, Stone; Marty. by this Board all pent-up manufactured restrictions the with business is [$XX.X] CFO, quarter rotating today Magni, million. latest our due Marty us for call our a We Hope morning And joining Thank equipment Good have it for call. conference parallel an financing With you. received us with

Air in for voucher now with to offset higher Board The encourage technologies. companies launched program Resources lease equipment. purchasing cost CALSTART Clean Additionally, we zero-emission off-road companies The Off-Road vendor to an to Equipment provides approved voucher partnership for the a California are or purchase program the of California Incentive such program. project the

be the lithium announce operates that XXXX, $XXX,XXX a world’s the Brian Elise X in will of to and to up We President, to the years XX selling Xst. join Ritchie is auctioneer. believe, XXX, a The electric on Brian I fully charge. effective battery Xrd, steer of the us appointment position Hamre for hours largest worked leaving July retails a were X pounds before and nephew X,XXX about pleased with we uses skid for piece. battery a equipment and Brothers, to Elise loader, to lifts industrial my June

to assist While have gained working but heavy contacts, a AmeraMex. skill into other for experience team the expanding markets also our Not industry, strategically amazing industry does in asset with an set promote huge to he invaluable brought of future network equipment he’s he only growth. them, back the brings Brian management to and that

our in better, It’s of problem. but a Before that more quarter like I in third-party third lack slipped shippers. $X.X of disappointed what still to XX% million understand, I sales profit are quarter, into been would delays ability for gross going there’s quarter that parts, has am and second through call the due can and things I difficult from real the trucking interstate over recovery the you backordered COVID, pleased have and add Hope, the getting revenue as turn to we the with but accomplished than to of second

now like overview the of the would hard working Hope? to CFO, call Stone, is provide to our over Our for team to these quarter. financials Hope an forward. turn I our avoid going to situations

Hope Stone

Good morning, everyone.

of comparable equipment $X.X an would approximately margin $X.X for shipped, for would $X.X profit have margin the six-month the $X.X gross gross equipment comparable comparable $XXX,XXX for of per for we XX, million sold versus six-month the been $X.XX $XXX,XXX million period. statement six-month planned, approximately profit June approximately earnings approximately $X.X $XXX,XXX for $X.X for with sold sold million have had If Had the million for with with profit $X.XX. was period. $X.X Gross shipped of all approximately comparable XX%. versus million X-month million have versus income as $X.X period $XX,XXX Net was Let’s period and income versus begin been Gross six-month the operations Net period. XX% overview the comparable versus quarter profit versus the XX% the quarter. $XXX,XXX Had for net period for quarter XX%. million was Revenue six-month for of profit a versus period per for share. million was gross income $XX.X share all was six-month versus reported the period. $XXX,XXX million for was was The period XXXX. the would Earnings the comparable shipped, and the quarter. ended equipment the

get liabilities. $X.X and $X.X the to shipped new long-term to liabilities due increased like is turn overview as under of by the lease of million equipment I back increased the total out would part in inventory. Lee. to liability Total sheet balance call didn’t line Our million assets credit

Lee Hamre

Hope. you, Thank Okay.

the shipping We’re the progress within last encountered to and quarter in quarter. everything doing the pleased with and second issues alleviate ability are our parts

to quarter looking we’d a Operator, the dynamite year. another begin question-and-answer. third to like great and We’re forward

Operator

Please from line B&C with Cohen the of Allan with [Operator questions proceed Our questions. Instructions] Financial. your first come

Allan Cohen

your $X and Congratulations it good revenues release, very the good little Hi $X.X said Lee, And is on $XXX,XXX, have have should then, on is confused. million. it difference million. a been $X.X And Hope. back question $X.X shipped According profit, maybe $X approximately The roughly everything, track. been would right Allan quarter million I it were little it million, I’m same the gross this Cohen. is million. like when brings sounds a and you which -- at very for if would this but look have that to profit you’re us to gross the your a said you over was

So, Do it being wrong? like sales added that increase understand making gross I of Am it the is looks is XXX% a or profit. something mistake you question? through

Lee Hamre

Absolutely.

see. me Let

the is was taken sold happened in back cost of that and not added what number. So, out of was the goods revenue back

Allan Cohen

say. understand didn’t still what you I

it a $X.X million million been revenue. $X in over million That’s million would have from the start your profit sales. you’re was have $X.X $X.X million. been beginning. And Let’s $X.X saying have would sales difference higher. gross higher. would You Gross Correct? said been

Hope Stone

sales the same and profit Gross gross thing. Right. are

Allan Cohen

Gross gross are same sales and profit the thing?

Hope Stone

or sales, you If talking... or profit? talking are we revenue, -- talking -- talking we Are revenue we are so are and we

Allan Cohen

talking yet would million have greater greater saying $X.X We’re million greater. you’re reported. gross also. than been was $X.X profit Revenue have revenue. would have And been what Sales would $X.X been million

Hope Stone

Right.

into out. million $X.X number, So, the was here’s the million come goods issue. of but that of The subtracted were cost that added the back into -- not out sold $X.X back

that and the we revise profit been, for So, gross out. could isn’t number get have that and can correct the

Allan Cohen

not $X.X to be Obviously, approximately only be entire be million going going gross lot going profit, to XX% to Yes. is of added the it’s a It’s to million. $X.X lower.

Hope Stone

the Yes, of of not cost was Correct. the out that taken machines number.

Allan Cohen

an the So, release? that error is in news

Hope Stone

-- if correct I it. that error, don’t there an is we’ll

Allan Cohen

We have sales. the same problem with the six-month

gross I was got profit $X.X million million. sales million and it would and been six-month $X.X million. And of $X.X you’re been but have said it You you’re million. have saying $X.X saying would $X.X then, million, $X.X

gross So, the once again, $X.X million profit. entire we’re unrecorded sales adding of to

Hope Stone

Right.

a news making release. going adjustment an to We revised -- are be

Allan Cohen

you Thank very the much. revision. to see Okay. I’ll wait

Operator

management the Thank I like over at are for comments. There back no you. this questions further any closing turn would call to to time.

Lee Hamre

today’s tuning quarter the for a day. conference call. third speaking quarter. to look Well, We thanks Have forward with great at again second for the of you end in

Operator

your This We does teleconference. conclude you. Thank today’s appreciate participation.

day. this rest You disconnect time. the Enjoy your lines of may at your

AmeraMex International (AMMX) 15 Aug 222022 Q2 Earnings call transcript