Bunge Global SA

Good morning and welcome to the Bungie fourth quarter 2022 earnings release and conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then 2. Please note, this event is being recorded. I would now like to turn the conference over to Ruthann Wisner, Vice President of Investor Relations. Please go ahead.

Thank you, Drew, and thank you for joining us this morning for our fourth quarter earnings call. Before we get started, I want to let you know that we have slides to accompany our discussion. These can be found in the Investors section of our website at bungie.com. under events and presentations. Reconciliations of non-GAAP measures to the most directly comparable GAAP financial measure are posted on our website as well. I'd like to direct you to slide two and remind you that today's presentation includes forward-looking statements that reflect Bungie's current view with respect to future events, financial performance, and industry conditions. These forward-looking statements are subject to various risks and uncertainties. Bungie has provided additional information in its reports on file with the SEC concerning factors that could cause actual results to differ materially from those contained in this presentation, and we encourage you to review these factors. On the call this morning are Greg Heckman, Bungie's Chief Executive Officer, and John Kneppel, Chief Financial Officer. I'll now turn the call over to Greg.

Thank you, Ruthann, and good morning, everyone. We capped off another exceptional year for Bungie with a solid fourth quarter performance. Our continued strong results speak to the flexibility of our platform and team, which, as I've said before, are built to adjust and even excel in volatile times. In this year that had more than its share of ups and downs, our team proved their ability to help our customers, both farmers and end users globally, manage risks, and navigate food security issues against the backdrop of regional conflict, weather impacts, and many other factors. I want to thank the team for their continued dedication to strong execution, which allowed us to build on our positive momentum and deliver our fourth consecutive year of earnings growth. We're focused on our mission and it shows in our financial results. Looking at the fourth quarter numbers, Adjusted core segment EBIT came in above last year's results, largely driven by strong performance across all regions in refined and specialty oils. John will go into our results in more detail, but I want to note our performance reflects our rigorous and disciplined approach to the business, including our focus on operating costs and the returns on capital we're investing. Looking ahead to 2023, We expect the market environment to be similar to 2022, with many of the same drivers still in place. That includes a globally tight crop supply, strong demand for our core protein meal and vegetable oil products, and the continued impact to global trade of commodity price volatility and supply chain disruptions. We also expect to see global demand for feedstocks and related services for renewable fuels continue to grow. Based on what we see in the market and the forward curves today, we expect full year adjusted EPS of at least $11 per share for 2023. And with that, I'll hand the call over to John to walk through the results and the outlook in more detail.