Essential Utilities (WTRG) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 7, 2022 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello and welcome to Essential Utilities Q3 2022 Earnings Call. My name is Sarah and I will be your coordinator for today's event. Please note this conference is being recorded and for the duration of the call your lines will be in listen-only. [Operator Instructions]

I will now hand you over to your host, Brian Dingerdissen, to begin today's conference. Thank you.

Brian Dingerdissen

Thanks, Sarah. Good morning, everyone, and thank you for joining us for Essential Utilities Third Quarter 2022 Earnings Call. I am Brian Dingerdissen, Vice President of Investor Relations and Treasurer at Essential. If you did not receive a copy of the press release, you can find it by visiting the Investor Relations section of our website at essential.co. The slides that we will be referencing and a webcast of that event will also be found there.

Here is our forward-looking statements. As a reminder, some of the matters discussed during this call may include forward-looking statements that involve risks, uncertainties and other factors that may cause the actual results to be materially different from any future results expressed or implied by such forward-looking statements. Please refer to our most recent 10-Q, 10-K and other SEC filings for a description of such risks and uncertainties.

During the course of this call, reference may be made to certain non-GAAP financial measures. A reconciliation of these non-GAAP to GAAP financial measures is included at the end of the presentation and also posted in the Investor Relations section of the Company's website.

Here is our agenda for the call today. We'll start with Chris Franklin our Chairman and CEO, who will discuss the highlights from the quarter and provide a Company update. Next, Dan Schuller, our Executive Vice President and CFO will discuss our financial results. Lastly, Chris will provide an update on our acquisition program and conclude the presentation with a summary of our guidance before opening the call for questions.

With that, I will turn the call over to Chris Franklin.

Christopher Franklin

Hi, thanks Brian and good morning, everyone. Thanks for joining us.

Let's start-off with some highlights from the quarter. We continue our focus on the fundamentals of operational efficiency, infrastructure improvement and service-related priorities. And as a result, we had a strong third quarter with earnings per share of $0.26 and year-to-date net income growth of 11.2%. Dan will provide you some details on this in just a few moments.