OGE Energy Corp. (NYSE:OGE) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET

Company Participants

Jason Bailey - Director, Investor Relations

Sean Trauschke - Chairman, President, and Chief Executive Officer

Bryan Buckler - Chief Financial Officer

Conference Call Participants

Julien Dumoulin-Smith - Bank of America

Brandon Lee - Mizuho

Gregg Orrill - UBS

Adithya Gandhi - Wolfe Research

Constantine Lednev - Guggenheim

Operator

Good morning and thank you for standing by. Welcome to the OGE Energy Corp's Third Quarter 2022 Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please be advised that today’s conference is being recorded.

And I will now hand the conference over to your first speaker, Jason Bailey, Director of Investor Relations at OGE. Go ahead, Jason.

Jason Bailey

Thank you, Eric, and good morning, everyone, and welcome to OGE Energy Corp's third quarter 2022 earnings call. With me today, I have Sean Trauschke, our Chairman, President, and CEO; and Bryan Buckler, our CFO. In terms of the call today, we will first hear from Sean, followed by an explanation from Bryan of financial results, and finally, as always, we will answer your questions.

I'd like to remind you that this conference is being webcast and you may follow along at oge.com. In addition, the conference call and accompanying slides will be archived following the call on that same website. Before we begin the presentation, I'd like to direct your attention to the Safe Harbor statement regarding forward-looking statements. This is an SEC requirement for financial statements and simply states that we cannot guarantee forward-looking financial results, but this is our best estimate to date.

I'll now turn the call over to Sean for his opening remarks. Sean?

Sean Trauschke

Thank you, Jason. Good morning, everyone. Thank you for joining us today. Before we get started, I do want to reflect on the economic and inflationary pressures our customers and all of us are experiencing today. We understand our customers concerns about household costs increasing across the board and understand that the rising cost of fuel to produce electricity contributes to the concerns our customers have about increasing energy bills. I'll talk about the specific actions we are taking after we discuss the quarter's results.

Turning to our financial results. Earlier this morning, we reported third quarter consolidated earnings of $1.31 per share. This includes utility earnings of $1.26 per share, a holding company loss of $0.03 and earnings from natural gas operations of $0.08. Our solid performance in this quarter is due to exceptional execution by our team who work to keep energy flowing to the grid during a very hot summer with upwards of 20 100-degree days across our service area.