Carrols Restaurant Group, Inc. (NASDAQ:TAST) Q4 2022 Earnings Conference Call February 28, 2023 8:30 AM ET

Company Participants

Jeremy Watchus – Senior Director-Finance

Tony Hull – Interim President and Chief Executive Officer

Gretta Miles – Controller and Assistant Treasurer

Joe Hoffman – Chief Restaurant Officer

Conference Call Participants

Jake Bartlett – Truist Securities

Joshua Long – Stephens Inc

Mary Gresla – Bank of America

Fred Wightman – Wolfe Research

Joseph Farricielli – Cantor Fitzgerald

Operator

Welcome to Carrols Restaurant Group, Inc.’s Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. Instructions on how to ask a question will be given at that time. I would like to remind everyone that this conference call is being recorded today, Tuesday, February 28, 2023 at 8:30 a.m. Eastern Time and will be available for replay.

I will now turn the conference over to Jeremy Watchus, Carrols’ Senior Director of Finance. Please go ahead.

Jeremy Watchus

Thank you, operator, and good morning, everyone. By now, you should have access to our earnings announcement released earlier today and our earnings presentation that are both available on our website at www.carrols.com under the Investor Relations section.

Before we begin our remarks, I would like to remind everyone that our discussion, including answers to questions posed to management, may include forward-looking statements or comments with respect to our strategies, intentions or plans and the future direction of revenues, input costs or other aspects pertaining to our business. These statements are not guarantees of future performance, and therefore, undue reliance should not be placed on them. We also refer you to our filings with the SEC for more details, both with respect to forward-looking statements, as well as risks that could impact our business and results.

During today’s call, we will discuss certain non-GAAP measures that we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with generally accepted accounting principles, and a reconciliation to comparable GAAP measures is available with our earnings release.

With that, I will now turn the call over to our Interim President and CEO, Tony Hull. Tony?

Tony Hull

Thank you, Jeremy, and good morning everyone. Emotionally, the start of this year has been extremely difficult for all of us at Carrols. Be mourn in the passing of our friend, colleague, and leader Paulo Pena, Paula will be deeply missed by his strategic vision for Carrols remains ingrained in all of us and will continue to shape how we run the business going forward.