Navios Maritime Partners L.P. (NYSE:NMM) Q4 2022 Results Conference Call February 21, 2023 8:30 AM ET

Company Participants

Angeliki Frangou - Chairwoman and CEO

Efstratios Desypris - COO

Erifili Tsironi - CFO

Ted Petrone - Vice Chairman, Navios Corporation

Conference Call Participants

Omar Nokta - Jefferies

Operator

Thank you for joining us for Navios Maritime Partners' Fourth Quarter 2022 Earnings Conference Call. With us today from the company are Chairwoman and CEO; Ms. Angeliki Frangou; Chief Operating Officer, Mr. Efstratios Desypris; Chief Financial Officer; Ms. Eri Tsironi; and Vice Chairman, Mr. Ted Petrone. [Operator Instructions]

Now I will review the Safe Harbor statement. This conference call could contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Partners. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are based upon the current beliefs and expectations of Navios Partners' management and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements. Such risks are more fully discussed in Navios Partners' filings with the Securities and Exchange Commission. The information set forth herein should be understood in light of such risks. Navios Partners does not assume any obligation to update the information contained in this conference call.

The agenda for today's call is as follows. First, Ms. Frangou will offer opening remarks. Next, Mr. Desypris will give an overview of Navios Partners' segment data. Next, Ms. Tsironi will give an overview of Navios Partners' financial results. Then Mr. Petrone will provide an industry overview. And lastly, we'll open the call to take questions.

Now I'll turn the call over to Navios Partners' Chairwoman and CEO, Ms. Angeliki Frangou.

Angeliki Frangou

Good morning to all of you joining us on today's call. I am pleased with our results for the year and fourth quarter of 2022. For the full year, we reported a revenue of $1.2 billion and net income of $579.2 million. For the fourth quarter, we reported revenue of $370.9 million and net income of $118.3 million. We are also pleased to report net income per common unit of $18.82 for the full year.

Navios Partners is a leading publicly-listed shipping company, diversified in 15 asset classes in three sectors with an average vessel age of about 9.5 years. Navios Partners entered 2023 well positioned. Over the last couple of years, NMM acquired 3 fleets, one in each of container, tanker and drybulk segments. Today, we have 176 vessels split roughly equally into three sectors based on a charter-adjusted basis.