CareTrust REIT, Inc. (NYSE:CTRE) Q4 2022 Earnings Conference Call February 10, 2023 1:00 PM ET

Company Participants

Lauren Beale - Senior Vice President and Controller

Dave Sedgwick - President and Chief Executive Officer

Bill Wagner - Chief Financial Officer

James Callister - Chief Investment Officer

Conference Call Participants

Jonathan Hughes - Raymond James

Austin Wurschmidt - KeyBanc Capital Markets

Steven Valiquette - Barclays

Michael Carroll - RBC Capital Markets

Juan Sanabria - BMO Capital Markets

Austin Wurschmidt - KeyBanc Capital Markets

Operator

Good morning. My name is Devin and I'll be your conference operator today. At this time, I'd like to welcome everyone to CareTrust REIT announces Fourth Quarter and Full Year 2022 Operating Results Conference Call.

All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator instructions] Thank you for your patience.

I'll now turn the call over to Senior Vice President, Lauren Beale. You may begin the conference.

Lauren Beale

Thank you and welcome to CareTrust REIT’s fourth quarter 2022 earnings call. Participants should be aware that this call is being recorded and listeners are advised that any forward-looking statements made on today’s call are based on management’s current expectations, assumptions and beliefs about CareTrust’s business and the environment in which it operates. These statements may include projections regarding future financial performance, dividends, acquisitions, investments, returns, financings and other matters and may or may not reference other matters affecting the company’s business or the businesses of its tenants, including factors that are beyond their control, such as natural disasters, pandemics such as COVID-19 and governmental actions.

The company’s statements today and its business generally are subject to risks and uncertainties that could cause actual results to materially differ from those expressed or implied herein. Listeners should not place undue reliance on forward-looking statements and are encouraged to review CareTrust’s SEC filings for a more complete discussion of factors that could impact results as well as any financial or other statistical information required by SEC Regulation G. Except as required by law, CareTrust REIT and its affiliates do not undertake to publicly update or revise any forward-looking statements where changes arise as a result of new information, future events, changing circumstances or for any other reason.

During the call, the company will reference non-GAAP metrics such as EBITDA, FFO and F-A-D or FAD and normalized EBITDA, FFO and FAD. When viewed together with GAAP results, the company believes these measures can provide a more complete understanding of its business, but cautions that they should not be relied upon to the exclusion of GAAP reports. Yesterday, CareTrust filed its Form 10-Q and accompanying press release and its quarterly financial supplement, each of which can be accessed on the Investor Relations section of CareTrust’s website at www.caretrustreit.com. A replay of this call will also be available on the website for a limited period.