Sensient Technologies Corp (NYSE:SXT) Q4 2022 Earnings Conference Call February 10, 2023 9:30 AM ET
Company Participants
Stephen Rolfs - SVP & CFO
Paul Manning - Chairman, CEO & President
Conference Call Participants
Ghansham Panjabi - Robert W. Baird & Co.
Heidi Vesterinen - BNP Paribas Exane
Mitra Ramgopal - Sidoti & Company
David Green - Boldhaven
Operator
Good morning and welcome to the Sensient Technologies Corporation 2022 Fourth Quarter and Year-End Earnings Conference Call. [Operator Instructions].
I would now like to turn the conference over to Mr. Steve Rolfs. Please go ahead, sir.
Stephen Rolfs
Good morning. Welcome to Sensient's earnings call for the fourth quarter and full year of 2022. I'm Steve Rolfs, Senior Vice President and Chief Financial Officer of Sensient Technologies Corporation. I am joined today by Paul Manning, Sensient's Chairman, President and Chief Executive Officer. Earlier today, we released our 2022 fourth quarter and full year financial results. A copy of the release and our investor presentation is available on our website at sensient.com.
During our call today, we will be explaining the differences between our GAAP results and our adjusted results. The adjusted results for 2022 remove income related to an earn-out payment received in connection with the divestiture of our yogurt fruit preparation business.
The adjusted results for 2021 remove the impact of the divestiture-related costs, the results of the operations divested, and the cost and income related to our operational improvement plan. We believe the removal of these items provides investors with additional information to evaluate the company's performance and improves the comparability of results between reporting periods. This also reflects how management reviews and evaluates the company's operations and performance.
These non-GAAP financial results should not be considered in isolation from or as a substitute for financial information calculated in accordance with GAAP. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is available in our press release. We encourage investors to review these reconciliations in connection with the comments we make today.
I would also like to remind everyone that comments made during this call, including responses to your questions, may include forward-looking statements. Our actual results may differ materially from those that may be expressed or implied due to a wide range of factors, including those set forth in our SEC filings. We urge you to read Sensient's previous SEC filings and our forthcoming 10-K for a description of additional factors that could potentially impact our financial results. Please bear these factors in mind when you analyze our comments today.