Howard Lorber | President & CEO |
Nick Anson | President & COO, Liggett Vector Brands |
Ron Bernstein | President & CEO, Liggett Vector Brands |
Jacqueline Crawford | Jefferies |
Edward Brucker | Barclays |
Robert Sullivan | MidOcean Partners |
Welcome to Vector Group Limited's First Quarter 2020 Earnings Conference Call.
During this 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 others should be considered in addition to, but not as a substitute for other measures of financial performance for prepared 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.