Evergen Infrastructure Corp. (EVGN) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

only mode. Participants can submit questions via the Q&A box at the bottom of the screen, which will be answered following the presentation. As a reminder, this call is being recorded. Before we begin, I'd like to direct all participants to our website at www.evergeninfo.com, where you will find a copy of the third quarter 2024 earnings presentation. Please allow me to remind you that our discussion today contains forward-looking statements. Actual results may differ materially from results projected by those forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the third quarter 2024 management discussion analysis. I will now turn the call over to Sean Hennessy, Everton Infrastructure's Chief Financial Officer, to begin. Thanks, Jeremy, and welcome everyone to the Q3 2024 earnings call. So during Q3 2024, Fraser Valley Biogas continued increasing RNG production towards its design capacity and has now seen 15% quarterly increases in production since the expansion was completed in December last year. Revenues were also boosted compared to Q3 2023 as a result of increased organic waste volumes at our Regina facility and improved pricing at our Pacific Coast Renewables facility. As a result, we reported a 57% increase in revenues compared to last year. During the same period, our direct operating costs, after adjusting for depreciation, increased by only 18% and came in 10% lower than our expectations, mainly due to repair and maintenance costs incurred last quarter, and we are also seeing utility costs normalize at Fraser Valley Biogas. Furthermore, our G&A expenses decreased by 36% compared to last year and 28% compared to last quarter, mai...