Textainer Group Holdings Limited (NYSE:TGH) Q1 2023 Results Conference Call May 2, 2023 11:00 AM ET

Company Participants

Tamara Bakarian - Director, IR

Olivier Ghesquiere - President, CEO

Michael Chan - EVP, CFO

Conference Call Participants

Mike Brown - KBW

Liam Burke - B. Riley Securities

Operator

Thank you, and welcome to Textainer's First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference call is being recorded.

I will now turn the call over to Tamara Bakarian, Director of Investor Relations with Textainer Group Holdings Limited. Thank you may begin.

Tamara Bakarian

Thank you. Certain statements made during this conference call may contain forward-looking statements in accordance with U.S. securities laws. These statements involve risks and uncertainties, are only predictions and may differ materially from actual future events or results. The company's views, estimates, plans and outlook as described within this call may change after this discussion.

The company is under no obligation to modify or update any or all statements that are made. Please see the company's annual report on Form 20-F for the year ended December 31, 2021, filed with the Securities and Exchange Commission on February 14, 2023, and going forward, any subsequent quarterly filings on Form 6-K for additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements.

During this call, we will discuss non-GAAP financial measures. As such measures are not prepared in accordance with generally accepted accounting principles, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures will be provided either on this conference call or can be found in today's earnings press release.

Finally, along with the earnings release today, we have also provided slides to accompany our comments on today's call. Both the earnings release and the earnings call presentation can be found on Textainer's Investor Relations website at investor.textainer.com.

I would now like to turn the call over to Olivier Ghesquiere, Textainer's President and Chief Executive Officer for his opening comments.

Olivier Ghesquiere

Thank you, Tamara. Good morning, everyone, and thank you for joining us today. I will begin by reviewing the highlight of our first quarter results, followed by additional perspective on the industry. Michael, will then go over our financial results in greater detail, after which we will open the call for your questions. We're very happy with our first quarter 2023 earnings results. Our utilization continues to remain very strong despite this being the traditional slower season of the year and the healthy consolidation phase taking place in the industry.