Intrepid Potash, Inc. (NYSE:IPI) Q4 2022 Earnings Conference Call March 7, 2023 12:00 PM ET
Company Participants
Evan Mapes - Investor Relations
Bob Jornayvaz - Executive Chairman and Chief Executive Officer
Matt Preston - Chief Financial Officer
Conference Call Participants
Lucas Beaumont - UBS
Will Tang - Morgan Stanley
Joel Jackson - BMO Capital Markets
Operator
Thank you for standing by. This is the conference operator. Welcome to the Intrepid Potash Inc. Fourth Quarter 2022 Results Conference Call. [Operator Instructions] I would now like to turn the conference over to Evan Mapes, Investor Relations. Please go ahead.
Evan Mapes
Thank you, Chris. Good morning, everyone. Thanks for joining us to discuss and review Intrepid’s fourth quarter 2022 results. With me today is Intrepid’s Co-Founder, Executive Chairman and CEO, Bob Jornayvaz and CFO, Matt Preston. Also with me today and available to answer questions during the Q&A session following our prepared remarks is our Vice President of Sales and Marketing, Zachary Adams.
Please be advised that our remarks today, including answers to your questions include forward-looking statements as defined by U.S. securities laws. These forward-looking statements are subject to risks and uncertainties that could arise – that could cause actual results to be materially different from those currently anticipated. These statements are based on the information available to us today and we assume no obligation to update them. These risks and uncertainties are described in our periodic reports filed with the SEC, which are incorporated here by reference.
During today’s call, we will refer to certain non-GAAP financial and operational measures. Reconciliations of these non-GAAP financial measures to the mostly directly comparable GAAP measures are included in yesterday’s press release. Our SEC filings and press releases are available on our website at intrepidpotash.com.
I will now turn the call over to Bob.
Bob Jornayvaz
Thank you, Evan and good morning to everyone joining our fourth quarter 2022 earnings call. We appreciate your attendance and your interest in Intrepid.
Before getting to our fourth quarter results, I will begin my remarks with some commentary on the current state of the potash market. Over the past 18 months, we have witnessed several extraordinary events, two rounds of U.S sanctions targeting the Belarusian potash industry, the EU and other countries adopting comparable measures, effectively removing Belarusian potash from Western markets, and three Russians invasion of Ukraine in continued conflict. The resulting effect on the potash market has been high volatility and pricing, uncertainty around global production and exports and a good reminder of the importance of having access to reliable supplies.