Portland General Electric Company (NYSE:POR) Q3 2022 Earnings Conference Call October 25, 2022 11:00 AM ET

Company Participants

Jardon Jaramillo - Senior Director, Finance, Investor Relations, and Risk Management

Maria Pope - President and Chief Executive Officer

Jim Ajello - Senior Vice President Finance, Chief Financial Officer, Treasurer & Corporate Compliance Officer

Conference Call Participants

Insoo Kim - Goldman Sachs

Shahriar Pourreza - Guggenheim Partners

Julien Dumoulin-Smith - Bank of America

Sophie Karp - KeyBanc

Anthony Crowdell - Mizuho Group

Aditya Gandhi - Wolfe Research

Nicholas Campanella - Credit Suisse

Chris Ellinghaus - Siebert Williams Shank and Co

Operator

Good day, and thank you for standing by. Welcome to Portland General Electric Company's Third Quarter 2022 Earnings Results Conference Call. Today is Tuesday, October 25, 2022. This call is being recorded. And as such, 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]

For opening remarks, I would turn the conference call over to Portland General Electric's Senior Director of Finance, Investor Relations and Risk Management, Jardon Jaramillo. Please go ahead, sir.

Jardon Jaramillo

Thank you, Dillon. Good morning, everyone. I'm happy you can join us today. Before we begin this morning, I would like to remind you that we've prepared a presentation to supplement our discussion, which we will be referencing throughout the call. The slides are available on our website at investors.portlandgeneral.com.

Referring to slide two, some of our remarks this morning will constitute forward-looking statements. We caution you that such statements involve inherent risks and uncertainties and actual results may differ materially from our expectations. For a description of some of the factors that could cause actual results to differ materially, please refer to our earnings press release and our most recent periodic reports on Forms 10-K and 10-Q, which are available on our website.

Leading our discussion today are Maria Pope, President and CEO; and Jim Ajello, Senior Vice President of Finance, CFO, Treasurer and CCO. Following their prepared remarks, we will open the line for your questions.

Now, it is my pleasure to turn the call over to Maria.

Maria Pope

Thank you, Jardon. Good morning, everyone, and thank you for joining us today. Beginning with slide four, I'll start by discussing our third quarter results before moving on to long-term growth. This morning, we've reported GAAP net income of $58 million or $0.65 per share, compared with $50 million or $0.56 per share in the third quarter of last year. Our solid results this quarter were driven by strong operating performance and revenue growth.