US Ecology, Inc. (NASDAQ:ECOL) Q2 2020 Earnings Conference Call - Final Transcript

Aug 07, 2020 • 10:00 am ET

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US Ecology, Inc. (NASDAQ:ECOL) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day and welcome to the US Ecology Inc. Second Quarter 2020 Earnings Conference Call. [Operator Instructions] Please note today's event is being recorded.

I would now like to turn the conference over to Eric Gerratt, Chief Financial Officer. Please go ahead sir.

Executive
Eric Gerratt

Good morning and thank you for joining us today. Joining me on the call this morning are Chairman, President and Chief Executive Officer, Jeff Feeler; Executive Vice President and Chief Operating Officer, Simon Bell; and Executive Vice President of Sales and Marketing, Steve Welling.

Before we begin, please note that certain statements contained in this conference call that do not describe historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Since forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such statements. Factors that could cause results to differ materially from those expressed include, but are not limited to, those discussed in the company's filings with the Securities and Exchange Commission.

These risks and uncertainties also include, but are not limited to statements regarding the continued impact of the COVID-19 pandemic on our business, the microeconomic impact of specific end markets in which we operate and our expectations for the financial results for 2020. Management cannot control or predict many factors that determine future results. Listeners should not place undue reliance on forward-looking statements, which reflect management's views only on the date such statements are made.

We undertake no obligation to revise or update any forward-looking statements or to make any other forward-looking statements whether as a result of new information, future events or otherwise. For those joining by webcast, you can follow along with today's presentation. For those listening by phone, you can access today's presentation on our website at www.usecology.com.

Throughout yesterday's earnings release and our call and presentation today, we refer to adjusted EBITDA, adjusted earnings per diluted share, cash earnings per diluted share and adjusted free cash flow. These metrics are not determined in accordance with Generally Accepted Accounting Principles and therefore susceptible to varying calculations. A definition, calculation and reconciliation to the financial statements of adjusted earnings per diluted share, cash earnings per diluted share, adjusted EBITDA and adjusted free cash flow can be found in Exhibit A of our earnings release.

We believe these non-GAAP metrics are useful in evaluating our reported results. We'd also like to point out that our second quarter results include contribution from the NRC Group Holdings acquisition that closed on November 1st, 2019. Throughout this presentation, we often refer to NRC Group Holdings as NRC. We have also provided data on a stand-alone basis for US Ecology, which is referred to as legacy US Ecology. Similarly, for stand-alone NRC data, we refer to that group as legacy NRC. This disaggregation is an attempt to provide increased transparency and understanding of the underlying business.

With that, I'd like to turn the call over to Jeff.

Executive
Jeff Feeler

Thank you, Eric and good morning everyone. I