Earnings Call Excerpt
Inergy Holdings, L.P. (NRGP)
F4Q08 Earnings Call
December 1, 2008 11:00 am ET
Executives
John Sherman – Chief Executive Officer, President
Phillip Elbert – Chief Operating Officer, President of Inergy Propane
R. Brooks Sherman, Jr. – Executive Vice President, Chief Financial Officer
William Moler – Executive Vice President, Midstream
Andrew Atterbury – Executive Vice President, Corporate Development
Analysts
Darren Horowitz – Raymond James
Ronald Londa – Wachovia Capital Markets
Adam [Roggenberg] – GLP
[Peter Segal] – Barclays Capital
James [Campell] – [HITE]
Selmon Akyol – Stifel Nicolaus
Mona Yee – Schroder Investment Management
Presentation
Operator
I would like to welcome to the Inergy fourth quarter and fiscal year ending 2008 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks there will be a question-and-answer session. (Operator Instructions)
Thank you. Mr. Sherman you may begin your conference.
Brooks Sherman
Welcome everyone to Inergy’s fourth quarter and fiscal year 2008 earnings call. With me today are John Sherman, our President and CEO; Phil Elbert, our President of Inergy Propane; Bill Moler, Executive Vice President of Midstream operations and Andy Atterbury, our Executive Vice President of Corporate Development.
The format of our call today is similar to those we have had in the past. I’ll turn in a minute to John for opening remarks. He will then turn it back to me to take a walk through the fourth quarter and annual results. Then we will open it up for question-and-answer.
Before I turn it over to John let me read a brief forward-looking statement. In our discussion this morning we may communicate forward-looking information. Various risk factors may cause actual results to differ materially from any projections in these forward-looking statements. We provide a detailed discussion of the various risk factors in our SEC filings and we encourage you to review our filings.
With that I will turn it over to John.
John Sherman
Thank you Brooks. While we are reporting our fourth quarter and full year fiscal 2008 results today, those periods have been in the history books for awhile. Our attention is now focused on fiscal 2009 and achieving our current and future objectives on behalf of our investors.
That said, our 2008 performance builds on our track record of consistently achieving overall targeted financial results. Our propane operating teams again responded to a challenging environment, navigating effectively despite much higher propane prices and corresponding customer conservation.
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