Vector Group Ltd. (NYSE:VGR) Q4 2022 Earnings Conference Call February 16, 2023 8:00 AM ET
Company Participants
Howard Lorber - President and CEO
Bryant Kirkland - CFO
Nick Anson - President and COO-Liggett Vector Brands
Conference Call Participants
Ian Zaffino - Oppenheimer
Hale Holden - Barclays
Karru Martinson - Jefferies
Operator
Welcome to Vector Group Ltd.s' Fourth Quarter 2022 Earnings Conference Call. This call is being recorded and simultaneously webcast. An archived version of the webcast will be available at the Investor Relations section on the company's webcast, located at www.vectorgroupltd.com for one year.
During this call, the terms, adjusted operating income, adjusted net income from continuing operations, adjusted EBITDA from continuing operations and tobacco adjusted operations income will be used. These terms are non-GAAP financial measures and should be considered in addition to but not as a substitute for other measures of financial performance, prepared in accordance with GAAP. Reconciliations on adjusted operating income from continuing operations, adjusted net income from continuing operations, adjusted EBITDA from continuing operations and tobacco adjusted operating income are contained in the company's earnings release, which has been posted on the Investor Relations section of the company's website.
Before the call begins, I would like to read a safe harbor statement. The statements made during this conference call are not historical facts are forward-looking statements, that are subject to risks and uncertainties and could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in more detail on the company's Securities and Exchange Commission filing.
Now, I would like to turn the call over to the President and Chief Executive Officer of Vector Group, Howard Lorber. Please go ahead.
Howard Lorber
Good morning, and thank you for joining us for Vector Group's fourth quarter 2022 earnings conference call. With me today are Bryant Kirkland, our Chief Financial Officer; and Nick Anson, President and Chief Operating Officer of Liggett Vector Brands.
I will begin by reviewing Vector Group's consolidated financial results for the fourth quarter of 2022. Then I will ask Nick to summarize the performance of our tobacco business. I will close with final comments and open the call for questions.
Before reviewing Vector Group's consolidated financial results, please note that because of the spin-off of Douglas Element in the fourth quarter of 2021, Douglas Element's financial results are presented as discontinued operations in Vector Group's consolidated financial statements for the 2021 period and are excluded from our adjusted results.