Howard Lorber | President and CEO |
Ron Bernstein | President and CEO, Liggett Vector Brands |
Bryant Kirkland | CFO |
Ian Zaffino | Oppenheimer |
Edward Brucker | Barclays |
Mitch Pindus | Wells Fargo Private Bank |
Robert Sullivan | MidOcean Partners |
Good day and welcome to Vector Group Limited's Third Quarter 2019 Earnings Conference Call.
During the call, the terms adjusted operating income, adjusted net income, adjusted EBITDA, and tobacco adjusted operating income will be used. These terms are non-GAAP financial measures and should be considered in addition to, but not as a substitute for, other measures of financial performance performed in accordance with GAAP.
Reconciliations to adjusted operating income, adjusted net income, adjusted EBITDA, and tobacco adjusted operating income are contained in the company's earnings release, which has been posted to the Investor Relations section of the company's website located at www.vectorgroupltd.com.
Before the call begins, I would like to read a Safe Harbor statement.