Avangrid, Inc. (AGR) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

July 27, 2022 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Welcome to today's Avangrid Second Quarter 2022 Earnings Call. Please remember, all lines will remain muted during the presentation portion of the call, with an opportunity for questions-and-answers at the end. [Operator Instructions]

It is now my pleasure to pass the conference over to our host, Alvaro Ortega, Vice President of Finance Investor and Shareholder Relations and Risk. Please proceed.

Alvaro Ortega

Thank you, Soren, and good morning to everyone. Thank you for joining us today to discuss Avangrid's second quarter 2022 earnings results. Presenting on the call today are Pedro Azagra, our Chief Executive Officer; and Patricia Cosgel, our Chief Financial Officer. Also joining us today for the question-and-answer part of the call will be Catherine Stempien, President and Chief Executive Officer of Avangrid Networks; Jose Antonio Miranda, Co-CEO and President, Onshore; Saygin Oytan, Senior Vice President, Offshore, and other members of the leadership team. If you do not have a copy of our press release or presentation for today's call, they are available on our website at avangrid.com.

During today's call, we will make various forward-looking statements within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995 based on current expectations and assumptions, which are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect or because of other factors discussed in Avangrid's earnings news release in the comments made during this conference call in the Risk Factors section of the accompanying presentation or in our latest reports and filings with the Securities and Exchange Commission, each of which can be found on our website, avangrid.com. We do not undertake any duty to update any forward-looking statements.

Today's presentation also includes references to non-GAAP financial measures. You should refer to information contained in the slides accompanying today's presentation for definitional information and reconciliations of non-GAAP financial measures to the closest GAAP financial measures.

I will now turn the call over to Pedro.

Pedro Azagra

Thank you, Alvaro, and good morning everyone. We appreciate you joining us for our second quarter earnings call. Let's get started on slide number 5. First I would like to say how honored I am to have the opportunity to lead this company as CEO. Over the last 25 years with Dennis Arriola I have had the privilege of working closely with our US team. As I stepped into this role, I became both proud of the foundation we have already laid and confident in our ability to become the industry leader.