Eagle Bulk Shipping Inc. (NYSE:EGLE) Q1 2022 Earnings Conference Call May 6, 2022 8:00 AM ET

Company Participants

Gary Vogel - Chief Executive Officer

Frank De Costanzo - Chief Financial Officer

Conference Call Participants

Chris Robertson - Jefferies

Magnus Fyhr - H.C. Wainwright

Liam Burke - B. Riley

Operator

Greetings, and welcome to Eagle Bulk Shipping First Quarter 2022 Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to Gary Vogel, Chief Executive Officer; and Frank De Costanzo, Chief Financial Officer of Eagle Bulk Shipping. Mr. Vogel, you may begin.

Gary Vogel

Thank you, and good morning. I would like to welcome everyone to Eagle Bulk's first quarter 2022 earnings call. To supplement our remarks today, I would encourage participants to access the slide presentation that is available on our website at eagleships.com.

Please note that part of our discussion today will include forward-looking statements. These statements are not guarantees of future performance and are inherently subject to risks and uncertainties. You should not place undue reliance on these forward-looking statements. Please refer to our filings with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties that may have a direct bearing on our operating results, our performance and our financial condition.

Our discussion today also includes certain non-GAAP financial measures, including adjusted net income, EBITDA, adjusted EBITDA and TCE. Please refer to the appendix in the presentation and our earnings release filed with the Securities and Exchange Commission for more information concerning non-GAAP financial measures and reconciliations to the most comparable GAAP financial measures.

Please turn to Slide 6. Over the past few months, the tragic situation in Ukraine has had a direct impact on our industry and our company with cargo trading patterns being disrupted and altered, something I will address later in the call. Furthermore, a significant number of our seafarer colleagues are from Ukraine, and they are all affected by what is happening to their country and loved ones.

The safety and well-being of our crew is of paramount importance, and we are focused on supporting them during this difficult time by providing assistance with temporary housing, transportation, and helping with other needs.