Vector Group Ltd. (NYSE:VGR) Q3 2022 Earnings Conference Call November 2, 2022 8:00 AM ET
Company Participants
Howard M. Lorber - President & Chief Executive Officer
Nick Anson - President & Chief Operating Officer-Liggett Vector Brands
Bryant Kirkland - Chief Financial Officer
Conference Call Participants
Pallav Mittal - Barclays
Ian Zaffino - Oppenheimer & Co.
Karru Martinson - Jefferies
Operator
Welcome to Vector Group Ltd.s' Third Quarter 2022 Earnings Conference Call. This call is being recorded and simultaneously webcast. An archived version of the webcast will be available on the Investor Relations section of the company's webcast, located at www.vectorgroupltd.com for one year.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 operating 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 the GAAP reconciliations to adjusted operating income from continuing operations.
Adjusted net income from continuing operations, adjusted EBITDA from continuing operations and tobacco adjusting 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 that are not historical facts are forward-looking statements, that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by forward-looking statements. These risks are described in more detail in the company's Securities and Exchange Commission filings.
Now, I would like to turn the call over to the President and Chief Executive Officer of Vector Group, Howard M. Lorber. Please go ahead.
Howard M. Lorber
Good morning, and thank you for joining us for Vector Group's Third Quarter 2022 Earnings Conference Call. With me today are Richard Lampen, our Chief Operating Officer; Bryant Kirkland, our Chief Financial Officer; and Nick Anson, President and Chief Operating Officer of Liggett Vector Brands. Ron Bernstein, Senior Adviser to Liggett Vector Brands will also join us during the Q&A.
During this call, I will review Vector Group's consolidated financial results for the third quarter of 2022. Nick will then summarize the performance of our Tobacco business. I will then provide closing 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.