2024-02-23 11:44:05 ET
Warner Bros. Discovery, Inc. (WBD)
Q4 2023 Earnings Conference Call
February 23, 2024 08:00 AM ET
Company Participants
Andrew Slabin - Investor Relations
David Zaslav - President and Chief Executive Officer
Gunnar Wiedenfels - Chief Financial Officer
Jean-Briac Perrette - Chief Executive Officer and President of Global Streaming and Games
Conference Call Participants
Kutgun Maral - Evercore ISI
John Hodulik - UBS
Ric Prentiss - Raymond James
Jessica Reif Ehrlich - Bank of America
Benjamin Swinburne - Morgan Stanley
Robert Fishman - MoffettNathanson
Presentation
Operator
Ladies and gentlemen, welcome to the Warner Bros. Discovery Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation there will be a question-and-answer session. Additionally, please be advised that today's conference call is being recorded.
I would now like to hand the conference over to Mr. Andrew Slabin, Executive Vice President, Global Investor Strategy. Sir, you may begin.
Andrew Slabin
Good morning and thank you for joining us for Warner Bros. Discovery's Q4 earnings call. Joining me today is David Zaslav, President and Chief Executive Officer; Gunnar Wiedenfels, Chief Financial Officer; and JB Perrette, CEO and President, Global Streaming and Games.
Today's presentation will include forward-looking statements that we make pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements may include comments regarding the company's future business plans, prospects and financial performance and involve risks and uncertainties that could cause actual results to differ materially from our expectations. For additional information on factors that could affect these expectations, please see the company's filings with the U.S. Securities and Exchange Commission, including but not limited to the company's most recent annual report on Form 10-K and its reports on Form 10-Q and Form 8-K.
And with that, I'd like to turn the call over to David.
David Zaslav
Hello, everyone, and thank you for joining us for our fourth quarter and full year earnings call. Our top priority this year was to get this company on solid footing and on a pathway to growth, and we've done that. We said we would be less than 4 times levered, and we are. We paid down $5.4 billion in debt for the year for a total of more than $12.4 billion since the deal closed. We're now at 3.9 times and expect to continue to de-lever in 2024....
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Warner Bros. Discovery, Inc. (WBD) Q4 2023 Earnings Call Transcript