Entravision Communications Corporation

Good day and welcome to the EntraVision fourth quarter and full year 2022 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touch-tone phone. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Kimberly Estrican in Investor Relations. Please go ahead.

Thank you, Operator. Good afternoon, everyone, and welcome to EnterVision's fourth quarter and full year 2022 earnings conference call. Joining me today are Chris Young, Interim Chief Executive Officer and Chief Financial Officer, and Jeffrey Lieberman, President and Chief Operating Officer. Before we begin, I must inform you that this conference call will contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ. Please refer to Entrevision's SEC filings for a list of risks and uncertainties that could impact actual results. This call is the property of Entrevision Communications Corporation. Any redistribution, retransmission, or rebroadcast of this call in any form without the express written consent of EntraVision Communications Corporation is strictly prohibited. Also, this call will include non-GAAP financial measures. The company has provided a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures in today's press release. The press release is available on the company's website and was filed with the SEC on Form 8K. I will now turn the call over to Chris Young.

Thank you, Kimberly, and good afternoon, everyone. We appreciate you joining us for Entrevision's fourth quarter and full year 2022 earnings call. Before we begin, I want to note that it has been two months since the sudden and tragic passing of our founder and CEO, Walter Ulloa. Walter's vision was to build a leading global advertising solutions, media, and technology company. In pursuing that vision, Entrevision built a strong leadership team that has transformed our media portfolio, expanded our geographic reach to 40 countries, and achieved tremendous growth. During this period of transition, Entrevision's board of directors has entrusted me with the role of interim CEO in addition to maintaining my duties as CFO. The board is currently engaged in a search for the full-time CEO. We are moving forward and we are as focused as ever on the successful execution of our long-term strategy to deliver value for our partners and shareholders. Let's begin by discussing our full year results, which were very strong. Total revenue of $956.2 million for 2022 was up 26% year-over-year and represented a new company record. Digital, which comprised 78% of our total revenue, increased by 35% compared to 2021. Television and radio segment revenues, which made up the remaining 22% of consolidated revenue, were down 1% and up 11%, respectively, year over year. Consolidated adjusted EBITDA was also a record $103.1 million for the year, up 17% over last year. Free cash flow totaled $63.3 million for the year, or a conversion rate of 61% of our consolidated adjusted EBITDA. For the year, earnings per share were 21 cents compared to 34 cents in 2021. With such stellar annual performance, in February, our Board of Directors approved an increase in our dividend, doubling the dividend from 2.5 cents per share to 5 cents per share. This increase returns the quarterly dividend payment to pre-pandemic levels. With that as a background on the year, I'll now turn the call over to Jeff Lieberman, IntraVision's President and Chief Operating Officer, to speak further on the fourth quarter.