Charah Solutions, Inc. · OTC:CHRB
Charah Solutions — Q1 2021 Earnings Presentation
17 slides from Charah Solutions's earnings presentation, May 12, 2021
Slide 1: Q1 2021 Earnings Call Presentation
Q1 2021 Earnings Call Presentation May 13, 2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Statements This presentation and our accompanying comments include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “e
Slide 3: Agenda
Agenda Business Highlights (Scott Sewell, President and CEO) – Business highlights – Our significant accomplishments – First quarter 2021 financial highlights – Strong growth in new awards Financial Overview (Roger Shannon, CFO and Treasurer) – First quarter 2021 financial review o Revenue, gros
Slide 4: Business Highlights
=> Charah Solutions Business Highlights
Slide 5: Significant Accomplishments First quarter 2021
Significant Accomplishments First quarter 2021 $527 million in new awards YTD 2021, building on last year’s record of $715 million, with increased diversification of customer base and broadened geographic reach Mobilized operations at the Dominion Energy Chesterfield beneficial use project and a
Slide 6: Q1 2021 Financial Highlights
Q1 2021 Financial Highlights Revenues increased $0.8 million as compared to Q1 2020 – Driven by: (i) an increase in remediation and compliance and fossil services revenue from new projects and time and materials work (ii) Partially offset by lower byproduct sales revenue Gross profit increas
Slide 7: Strong Improvement in New Awards
Strong Improvement in New Awards Record $715M of new awards in 2020, driven by Dominion Energy project. Increase in awards in 2019, 2020 and YTD 2021 as compared to 2018 driven by an increase in customer awards as our utility customers are finalizing their plans to address the regulatorily- mand
Slide 8: 2021 Financial Overview
=> Charah Solutions 2021 Financial Overview
Slide 9: Q1 2021 Financial Review
$52 $51 Q1 2021 Q1 2020 Revenue increased by 1.6%, primarily driven by an increase in remediation and compliance and fossil service revenue from new project work, partially offset by a decrease in byproduct sales revenue. Gross profit increased by 14.1%, primarily driven by the factors noted abo
Slide 10: First Quarter Financial Review Cash Flow Update
First Quarter Financial Review Cash Flow Update Cash flow from operations (pre-changes in W/C) $0.3 Change in W/C 13.8 Operating cash flow $14.1 Cash and restricted cash received from Gibbons Creek Transaction 34.9 Capex Maintenance and growth (1.0) Land improvements (0.1) Adjusted free cash flow1 $
Slide 11: Debt & Leverage
$ Millions As of 3/31/2021 As of 12/31/2020 Cash and Restricted Cash $72 $29 Less: Restricted Cash ($48) ($4) Unrestricted Cash and Equivalents $24 $25 Revolving Credit Facility $19 $12 Equipment Financing and Other $28 $29 Term Loan $123 $125 Total Debt $170 $166 Net Debt3 $146 $141 LTM Adj. EBITDA
Slide 12: 2021 Guidance
2021 Guidance Guidance Revenue $260 - $300 Net loss attributable to Charah Solutions, Inc. ($5) - $0 Adjusted EBITDA1 $35 - $40 Adjusted Free cash flow1 $33 - $38 ($ in millions) Though we are not currently seeing any significant disruptions to our business due to the critical nature of our custom
Slide 13: Appendix
=> Charah Solutions APPENDIX
Slide 14: Non-GAAP Reconciliation Adjusted EBITDA and Adjusted EBITDA Margin
Non-GAAP Reconciliation Adjusted EBITDA and Adjusted EBITDA Margin 1. Represents amounts for continuing operations only. 2. Represents expenses associated with the Amendment to the Credit Facility and other miscellaneous items. 3. Adjusted EBITDA margin is a non-GAAP financial measure that represent
Slide 15: Non-GAAP Reconciliation Adjusted EBITDA for the Twelve Months Ended March 31, 2021
Non-GAAP Reconciliation Adjusted EBITDA for the Twelve Months Ended March 31, 2021 1. Represents amounts for continuing operations only. 2. Represents expenses associated with the Amendment to the Credit Facility and other miscellaneous items.
Slide 16: Non-GAAP Reconciliation Adjusted Net Loss and Adjusted Loss Per Share
Non-GAAP Reconciliation Adjusted Net Loss and Adjusted Loss Per Basic/Diluted Share 1. Represents amounts for continuing operations only. 2. Represents expenses associated with the Amendment to the Credit Facility and other miscellaneous items. 3. Represents the effective tax rate of 14.9% and 0.0%
Slide 17: Non-GAAP Reconciliation Adjusted Free Cash Flow
Non-GAAP Reconciliation Adjusted Free Cash Flow We define free cash flow as cash flows from operating activities and cash and restricted cash received from ERT transaction, less cash used for capital expenditures, net of proceeds. We include cash and restricted cash received from ERT transactions an