Good morning, and welcome to H&E Equipment Services second quarter 2022 earnings conference call. Today's call is being recorded. At this time, I would like to turn the call over to Mr. Jeff Chastain, Vice President of Investor Relations. Please go ahead. Okay, thank you, Gary, and welcome everyone. I want to thank you for your participation today as we review our results for the second quarter of 2022. A copy of the press release covering the H&E results was issued this morning and can be found along with all supporting statements and schedules at the H&E website. That's www.he-equipment.com. Our discussion this morning is accompanied by a slide presentation, which can also be found at the H&E website under the Investor Relations tab in Events and Presentations. Joining me today on today's call are Brad Barber, Chief Executive Officer, John Engquist, President and Chief Operating Officer, and Leslie Magee, Chief Financial Officer and Corporate Secretary. Turn to slide three, before I turn the call over to Brad for his opening comments, I should remind you that today's call contains forward-looking statements within the meaning of the federal securities laws. Statements about our beliefs and expectations and statements containing words such as "may", "could", "believe", "expect", "anticipate", and other expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. A summary of these uncertainties is included in the safe harbor statement contained in the company's slide presentation for today's call and include the risks described in the risk factors in the company's 2021 annual report on Form 10-K and other periodic reports. Investors, potential investors, and other listeners are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The company does not undertake to publicly update or revise any forward-looking statements after the date of this conference call. Also, we are referencing non-GAAP financial measures during today's call. You will find the required supplemental disclosure for these measures, including the most directly comparable GAAP measure and an associated reconciliation as supporting schedules to our press release and in the appendix to today's presentation materials. Finally, unless specifically noted, all results and comparisons for the periods reported and discussed this morning are presented on a continuing operations basis. With the preliminary announcements out of the way, I'll now turn the call over to Brad Barber, Chief Executive Officer of H&E Equipment. Thank you, Jeff. Good morning and welcome everyone to our second quarter 2022 financial review. We appreciate your participation and continued interest in H&E. Our second quarter results were outstanding and included several significant achievements. We continue to benefit from excellent fundamental industry conditions throughout our expanding equipment rental business. These highly favorable conditions were led by resilient demand and impressive growth in rental rates. We continue to grow our fleet, which finished the second quarter at a record level for our company. Our fleet is positioned for further growth over the second half of 2022 as we continue our same-store investment and branch expansion strategy. I believe the strategic rationale for our transition during 2021 to a pure-play rental focus has been validated in 2022 as our intensified rental exposure continues to generate significant improvement in margins and other key financial metrics, which I will cover in greater detail. Proceed to slide four, please. I will begin today with comments on our improvement across the top-level financial measures before I bridge the discussion to a review of our rental operations. Next, I will provide a view of current business conditions in the equipment rental industry and close with an update on 2022 growth initiatives. Leslie will follow with an in-depth discussion on second quarter financial results, including business segment performance measures and updates on our capital structure and liquidity. We will be happy to take your questions. On to slide six, please. Given the exceptionally robust second quarter business environment, H&E reported decisive year-over-year improvement across our key financial measures, as well as impressive sequential quarterly growth. For example, total equipment rental revenue of $227.6 million grew almost 30% from the year ago quarter while posting sequential growth of 14.2%. Also, adjusted EBITDA of $121.9 million improved almost 29% on a year-over-year basis and 17.8% sequentially, while posting a record 41.4% gross margin. Our adjusted EBITDA margin in the quarter exceeded the year ago and sequential quarterly margins by 580 and 340 basis points, respectively. As I mentioned earlier, high equipment demand, strong rental rate growth, and execution of our fleet expansion strategy were meaningful factors in the quarter, and proved especially influential for our rental performance. Slide seven. Rental revenue in the second quarter reached a record $201.2 million, improving 28% when compared to the same quarter in 2021, and 13.6% better on a sequential quarterly basis. The result was driven in part by physical utilization of 73.2%, representing our best second quarter utilization measure since 2012, and equated to a 450 and 280 basis point improvement when compared to the year ago quarter and previous quarter, respectively. As physical utilization remains strong, rental rates improved a remarkable 9.4% on a year-over-year basis and 3.5% sequentially. This exceptional price achievement was reinforced by strong operational execution and the use of our integrated and proprietary Smart Rate pricing program. With these factors in place, our rental gross margin in the quarter of 53.7% was the highest level achieved since 2006 and was 710 basis points ahead of the year ago quarter and 380 basis points better on a sequential quarterly basis. In addition, dollar utilization reached 40.9% in the quarter compared to 35.9% in the year ago quarter and 37.6% in the previous quarter. Finally, our ability to capitalize on the excellent business climate by growing our fleet despite ongoing supply chain disruptions contributed to our strong rental performance. Our rental fleet OEC grew by more than $228 million when compared to the year-ago quarter and almost $148 million through the first six months of 2022. As a result of this growth, we set yet another record with a $2 billion investment in our rental fleet. To summarize our quarterly results, I am very encouraged by our excellent financial performance. I believe the results demonstrate the success of several strategic initiatives employed over the last 12 months. We should continue to benefit from these and other initiatives as robust business climate provides additional opportunity for growth. On to slide eight, please. We continue to experience strong business activity with the foundational drivers of the equipment rental business remaining solid. Non-residential construction opportunities are plentiful across our regions of operation, with no visible trends that suggest construction project delays or cancellations. We continue to experience strong demand for our rental fleet while the industry's supply of construction remains constrained. In fact, current customer feedback addressing equipment needs suggests favorable conditions should persist as we continue through the seasonal strength of our business cycle. As of today, fleet utilization remains at levels consistent with the second quarter. Also, it is encouraging to see leading indicators of the construction activity remaining at levels that support expansion, as reflected in the June ABI and the Dodge Momentum Index, with the latter measure reaching a 14-year high. In addition, the commencement of infrastructure projects serves as an additional source of demand toward late 2022 and into 2023. I want to reiterate, we see no evidence of disruption to the favorable industry trends at present. Under the prevailing business conditions, healthy utilization levels should continue for the balance of the year, with additional improvement in rental rates expected. Before I turn the call over to Leslie, I want to provide an update on our 2022 growth initiatives. Slide nine, please. In a business environment characterized by exceptional equipment demand, supply chain disruptions remain an inconvenient but temporary reality of our industry and continue to hinder the timely delivery of a portion of our equipment orders. Due to the inability of certain manufacturing partners to meet their commitments, we reduced our planned capital expenditure range to $465 million-$500 million, or a reduction of approximately 16% at the midpoint. A reduction in our planned fleet sales will mitigate the business impact of this reduction. Therefore, we expect no change in our year-end OEC when compared to our initial internal expectations for the year. We are disappointed this action is necessary. However, we are prepared to increase our revised expenditure level should we see improving condition with regard to the sourcing of equipment. Regarding our branch expansion initiative, we remain confident in achieving our goal of no fewer than 10 additions in 2022. Slide 10, please. Four new branches were added through the first six months of the year, including our latest operation in Lakeland, Florida, which represents our ninth location in the state and increases our total branch count to 106. We expect to remain very busy over the third and fourth quarters of 2022 as we execute this important component of our growth strategy. In addition, growing our operations through acquisition remains a priority for H&E as we continue the evaluation of attractive bolt-on opportunities. As Leslie can attest, our strong debt capacity and liquidity position represent excellent resources in support of this growth. In closing, strong utilization of 73.2% and exceptional rental rate growth of 9.4% were central to our outstanding results in the quarter, and I believe both measures continue to be among the best in our industry. These excellent outcomes, combined with rising rental concentration, which grew to 77% of total consolidated revenues for the quarter, and successful growth initiatives, are strengthening our competitive position. Additional branch openings are planned over the second half of the year, and we continue to penetrate highly prospective locations where our customers can source one of the industry's youngest fleets. These important factors allow us to capitalize on the opportunities created in a robust business cycle, and we're confident they will serve us well through the remainder of 2022. I'd ask everyone to move on to slide 11, please, and I'm going to turn the call over to Leslie for a review of our second quarter financial performance. Leslie? Thank you, Brad. Good morning and welcome everyone. I'll begin this morning's financial review on slide 12. Our second quarter revenues of $294.7 million improved $29 million or 10.9% when compared to the second quarter of 2021. The increase was driven by strong appreciation in rental rates and higher utilization on a larger fleet. The same combination of factors drove a 28% increase in rental revenue, which totaled a record $201.2 million, compared to $157.2 million in the year ago quarter. Our rental rates were 9.4% better than a year ago and increased 3.5% sequentially. Utilization of 73.2% improved 450 and 280 basis points when compared to the year ago and sequential quarter respectively. Our fleet OEC grew $228.2 million compared to the OEC at June 30th, 2021, and was up $106.5 million when compared to the first quarter of 2022. Used equipment sales in the second quarter experienced a year-over-year decline of $17 million or 47.4% to $18.8 million. We continue to capitalize on high equipment utilization in the quarter, resulting in lower sales across all product lines. New equipment sales of $21.5 million declined $6.1 million or 22.2% compared to the year ago quarter, due largely to a decrease in other equipment sales. Our consolidated gross profit in the second quarter increased $32.5 million on a year-over-year basis, totaling a record $132.3 million. We also set a record for consolidated gross margin in the quarter, which improved to 44.9% or 730 basis points ahead of the same quarter in 2021, and 390 basis points better on a sequential quarterly basis. The net margin expansion was due mainly to higher margins on rental and rental other, in addition to improved mix. Gross profit margins by business segment with a comparison to the same quarter in 2021 included total equipment rental margins of 48.6% compared to 41.7%, and rental margins of 53.7% compared to 46.6%, a 710 basis point increase. Used equipment margins in the quarter improved to 47.6% compared to 36.7%, with fleet-only margins, which exclude used equipment obtained through trade-in, improving to 50.9% compared to 37.8%. New equipment margins rose to 15% compared to 12.3%. Finally, margins on parts sales were unchanged at 26.8%, while service margins were 64.6% compared to 68%. Slide 13, please. Income from operations in the second quarter increased over 70% to $50.7 million compared to $29.7 million in the second quarter of 2021. Second quarter margins improved to 17.2% compared to 11.2% in the year ago quarter. The improvement was driven by higher gross margins on rentals, rental other, and improved mix, partially offset by higher SG&A. Let's proceed to slide 14, please. Net income more than doubled in the second quarter to $27.9 million or $0.76 per diluted share, compared to $12.3 million or $0.34 per diluted share in the year-ago quarter. Our effective income tax rate in the second quarter was 26.8% compared to 28.2% over the same period of comparison. Proceed to slide 15, please. Adjusted EBITDA in the second quarter increased to $121.9 million compared to $94.6 million in the prior-year quarter, representing a 28.8% improvement against the 10.9% improvement in total revenue. The adjusted EBITDA margin in the second quarter improved to a company best of 41.4% or 580 basis points better than 35.6% in the second quarter of 2021. The strong result was primarily due to favorable revenue mix with our growing rental business and higher margins on rental and used equipment, partially offset by higher SG&A expenses. Next, on slide 16. SG&A expenses totaled $82.7 million in the second quarter, up $12 million or 16.9% compared to the second quarter of 2021. The increase was primarily due to employee salaries, wages, incentive compensation related to increased profitability and headcount, and payroll taxes. Also, higher facilities expenses and professional fees contributed to the increase. SG&A expenses in the second quarter were 28.1% of revenues compared to 26.6% a year ago. We experienced $2.2 million in higher branch expansion costs in the second quarter of 2022 compared to the year ago quarter, with seven warm starts and greenfield locations added over this period. Slide 17. Excuse me. Turning to capital expenditures and cash flow. Gross fleet capital expenditures in the second quarter totaled $139.6 million, including non-cash transfers from inventory. Net rental fleet capital expenditures in the quarter were $123 million. Gross PP&E CapEx for the second quarter was $13.8 million, while net PP&E CapEx was $12.7 million. Our average fleet age as of June 30th, 2022, improved slightly to 41.2 months and continues to compare favorably to the industry average fleet age of 53.6 months. Following our increased capital expenditures in the quarter, we experienced negative free cash flow for the second quarter of -$63 million. Slide 18. On June 30th, 2022, the size of our rental fleet based on original equipment cost was just over $2 billion, an increase of $228.2 million, or 12.8% larger than the close on June 30th, 2021. Average dollar utilization in the second quarter of 2022 improved to 40.9% compared to 35.9% in the prior year quarter. Move to slide 19, please. Net debt at the close of the second quarter was approximately $973 million compared to $898 million at the close of the first quarter of 2022. Our net leverage was 2.2x compared to 2.1x over the same period of comparison. We have no maturities before 2028 on our $1.25 billion of senior unsecured notes. Slide 20, please. We closed the second quarter of 2022 with a liquidity position just over $1 billion, including a cash balance on June 30th, 2022 of $278.8 million, and borrowing availability under our amended ABL facility of $740.3 million. Excess availability under the ABL facility was approximately $1.2 billion at the conclusion of the second quarter of 2022, with minimum availability as defined by the agreement of $75 million. By definition, excess availability is the measurement used to determine if our springing fixed charge is applicable. With excess availability of $1.2 billion, we continue to have no covenant concerns. Finally, we paid our regular quarterly dividend of $0.275 per common share of stock in the second quarter of 2022. While dividends are subject to board approval, it is our intent to continue to pay the dividend. Slide 21, please. In summary, our excellent second quarter results continue to demonstrate a consistent pattern of improvement across many of our key financial metrics. This favorable performance trend is especially evident over the last 12 months, which follows our decision to reduce exposure to the distribution business while intensifying our rental concentration. Revenue growth and margin appreciation have been meaningful over this time frame, with the second quarter representing our highest results for rental revenue, rental gross profit, consolidated gross profit and margin, and adjusted EBITDA margin. These impressive measures demonstrate what we can achieve in a fundamentally robust industry. With these modifications in place, I believe H&E is now better positioned to maximize its financial performance through the equipment rental business cycle. Our strategic growth initiatives, which are highlighted by our record investment in our rental fleet, further branch expansion, and continued interest in bolt-on acquisitions, will play a substantial role in the future as we work to build a larger industry presence. With that, we are now ready to begin the Q&A period. Operator, please provide instructions. We will now begin the question-and-answer session. To ask a question, you may press star, then one on your telephone keypad. If you are using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star then two. At this time, we will pause momentarily to assemble our roster. The first question is from Steven Ramsey with Thompson Research Group. Please go ahead. Good morning. Maybe to start with this tight supply of fleet against very strong demand, a couple of questions on that topic. Number one, is this the case in all geographies or regions? Secondly, do you think that this dynamic lasts into 2023? Yeah. Good morning, Steven. It is the case in all geographies and regions. We're witnessing the same physical utilization levels, meaning we're just consistently up year-over-year and staying very steady across all of the geographies we serve. As it pertains to the availability of equipment, if you're speaking from the manufacturers, it's gonna continue to be tough for the remainder of this year, and we're looking forward to seeing some level of improvement into 2023, but it's certainly allowing us to, you know, feel confident about maintaining our utilization at that 73% level, and also continuing to sequentially achieve rate gains going forward. Okay. Helpful. Maybe to continue with that line of thought, lower gross CapEx for this year, is that fleet delivery being slower year to date, or is that expected slowing in the second half? Maybe a follow-on to that, are you placing orders now for 2023? It's a little of both. We did not achieve the level we hoped to in Q2. That was heavily loaded to the back side of the quarter. Weeks quickly turned into months in a handful of manufacturers. In fact, three specific manufacturers contributed to about 80% of our decrease in our CapEx guidance for the year. A piece of that was in Q2, and then the remainder will be feathered out across Q3 and into Q4. Okay, helpful. Are you placing orders now for 2023? We're slotting orders right now for 2023. You know, the visibility looks good based off of the current feedback from the manufacturers, and we have well more than 50% of our expected orders slotted for 2023 already. Excellent. Thank you. Thank you. Again, if you have a question, please press star then one. The next question is from Stanley Elliott with Stifel. Please go ahead. Hey, good morning, everyone. Thank you guys for taking the question. Brad, along those lines on the slotting, you know, these are just slots and not confirmed orders, right? I mean, you have some flexibility to pull those back or revise expectations should the economy, you know, seemingly change from the trajectory that we're on right here. That's correct, Stanley. We do. I'll take it further. You know, in many cases, we do not have confirmed pricing. We have more orders slotted than with certain manufacturers than we may potentially need, and we're gonna use, you know, that to negotiate and understand where our pricing is going to actually land, and then we'll confirm those orders. You know, that's always the case. I think as you are aware and others, you know, if we have product on order and we decide not to take it, we are under no obligation to do so. It's always our intent to work, you know, as good partners with our manufacturers, and that's how we operate. Should we see a shift in business, then we know how to react to it. The rental rate environment's, you know, exceptionally strong right now. What sort of? I think we'll see improvement in the back half of the year, but let's just say hypothetically we don't, what sort of, you know, carryover would you get or kind of tailwind into 2023? Just to kinda use that as a starting base. Yeah, I'm gonna let John respond to the rental rate piece. Yeah, sure. Good morning, Stanley. You know, when we started the year out this year, we had an expectation for, you know, rental rates in the, you know, mid- to lower- to mid-single digits. In early Q2, you know, with the strength of our sequential rate performance, you know, we got it to that 5% range, is really where we were thinking. You know, with our 3.5% sequential rate improvement in the second quarter, you know, it gave us the confidence to think that we can potentially do a little better than that 5% range. When we're thinking about an exit rate for 2022 coming out at the end of the year, you know, I think we'll be in that, you know, upper 5% range, potentially 6%. Really that's based on the current momentum. That's what we think we're gonna see. You know, we do expect sequential rate improvements in Q3 and Q4. Yeah. Keep in mind, Stanley, let me add, Q3 is a pretty tough comp. I think we were up sequentially 2% last year in Q3 of 2021. You know, we're gonna start to come up off when we gained that momentum last year, but we're going to continue to get rates, as John stated. Last for me, you know, the utilization economics have been the best since 2012. What are you all doing kind of structurally, maybe how the business has evolved to allow you to get, you know, the improved utilization trends that you're seeing now? I get it that certainly demand is very good and a nice tailwind, but would love to hear some color on how you guys have done some things for the business to help that be possible. Yeah. Listen, we've developed, obviously, systems and processes over decades. Historically, when all of our competitors previously reported physical utilization levels, we've always set the bar the highest. You know, it's certainly a robust market, great demand, but it's no small accomplishment to run consistently north of 73% utilization. I will tell you, while we got a lot of people working very hard, and we're proud of our team, I wanna be clear on that, we were providing them good information, good visibility, and our systems allow us to operate at that level consistently without taxing our ability to continue to serve our customers well. Perfect. Thanks, everybody. Congratulations and best of luck. Thank you, Stanley. Once again, if you have a question, please press star then one. Please stand by as we poll for questions. Showing no further questions, this concludes our question -and -answer session. I would like to turn the conference back over to Jeff Chastain for any closing remarks. Okay, Gary, thank you. We'll go ahead and close today's call then. We appreciate you taking the time to join us today and for your continued interest in H&E Equipment. We look forward to speaking with you again. Gary, thank you very much for your assistance on today's call. Good day, everyone. Thank you, sir. The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.