InvenTrust Properties Corp. (NYSE:IVT) Q1 2024 Earnings Conference Call May 1, 2024 10:00 AM ET

Company Participants

Dan Lombardo - Vice President, Investor Relations
DJ Busch - President and Chief Executive Officer
Mike Phillips - Chief Financial Officer
Christy David - Chief Operating Officer
Dave Heimberger - Chief Investment Officer

Conference Call Participants

Dori Kesten - Wells Fargo
Andrew Reale - Bank of America
Paulina Rojas - Green Street

Operator

Thank you for standing by, and welcome to InvenTrust First Quarter 2024 Earnings Conference Call. My name is Harry, and I will be your conference call operator today. Before we begin, I would like to remind our listeners that today’s presentation is being recorded, and a replay will be available on the Investors Section of the company’s website at inventrustproperties.com. [Operator Instructions]

I would now like to turn the call over to Mr. Dan Lombardo, Vice President of Investor Relations. Please go ahead, sir.

Dan Lombardo

Thank you, operator. Good morning, everyone and thank you for your attendance on today’s call. Joining me from the InvenTrust team is DJ Busch, President and Chief Executive Officer; Mike Phillips, Chief Financial Officer; Christy David, Chief Operating Officer; and Dave Heimberger, Chief Investment Officer.

Following the team’s prepared remarks, we will open the lines for questions. As a reminder, some of today’s comments may contain forward-looking statements about the company’s views on the future of our business and financial performance, including forward-looking earnings guidance and future market conditions. These are based on management’s current beliefs and expectations and are subject to various risks and uncertainties.

Any forward-looking statements speak only as of today’s date, and we assume no obligation to update any forward-looking statements made on today’s call or that are in the quarterly financial supplemental or press release. In addition, we will also reference certain non-GAAP financial measures. The comparable GAAP financial measures are included in this quarter’s earnings materials, which are posted on our Investor Relations website.

With that, I will turn the call over to DJ.

DJ Busch

Thanks, Dan and thank you to everyone joining us this morning. Today, I’ll start with some brief commentary on our first quarter results, the overall operating environment and how InvenTrust continues to be positioned to grow sustainable cash flow long-term. Mike will discuss our financial results and provide color around our updated 2024 guidance, and Christy will conclude with additional commentary regarding the leasing and operating landscape. 2024 is off to a solid start following an excellent 2023, where operating fundamentals in the open-air retail sector continue to benefit from the supply and demand dynamics, not seen in several real estate cycles in our property type.