Portland General Electric Company (NYSE:POR) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ET

Company Participants

Jardon Jaramillo - Senior Director, Investor Relations, Treasury & Risk Management

Maria Pope - President & CEO

Jim Ajello - Senior Vice President-Finance, CFO & Treasurer

Conference Call Participants

Insoo Kim - Goldman Sachs

Peter Bourdon - Mizuho

Ryan Greenwald - Bank of America

Sophie Karp - KeyBanc

Travis Miller - Morningstar

Aditya Gandhi - Wolfe Research

Nicholas Campanella - Credit Suisse

Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. The machine-assisted output provided is partly edited and is designed as a guide.

Operator

00:04 Good morning, everyone and welcome to Portland General Electric Company’s First Quarter 2022 Earnings Results Conference Call. Today is Thursday, April 28, 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 period. [Operator Instructions]

00:47 For opening remarks, I'll turn the conference over to Portland General Electric’s Senior Director of Investor Relations, Finance and Risk, Mr. Jardon Jaramillo. Please go ahead, sir.

Jardon Jaramillo

00:55 Thank you. Good morning, everyone. I'm happy you can join us today. Before we begin this morning, I'd like to remind you that we have prepared a presentation to supplement our discussion which we'll be referencing throughout the call. The slides are available on our website at investors.portlandgeneral.com.

01:15 Referring to Slide 2, 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.

01:41 Leading our discussion are Maria Pope, President and CEO, and Jim Ajello, Senior Vice President of Finance, CFO and Treasurer. Following their prepared remarks, we will open the line for your questions.

01:52 Now it's my pleasure to turn the call over to Maria.

Maria Pope

01:56 Good morning and thank you, Jardon and thank you everyone for joining us today. Turning to Slide 4. For the first quarter, we reported net income of $60 million or $0.67 per share compared with net income of $96 million or $1.07 per share in the first quarter of last year.