ALLETE, Inc. (NYSE:ALE) Q4 2022 Earnings Conference Call February 16, 2023 10:00 AM ET

Company Representatives

Bethany Owen - Chair, President & CEO

Steve Morris - Senior Vice President, Chief Financial Officer

Frank Frederickson - Minnesota Power's Vice President of Customer Experience and Engineering Services

Jeff Scissons - ALLETE Clean Energy's Chief Financial and Strategy Officer

Conference Call Participants

Richard Sunderland - J.P. Morgan

Brian Russo - Sidoti

Alex Mortimer - Mizuho

Operator

Good day, and welcome to the ALLETE Fourth Quarter 2022 Year-End Financial Results Call. Today's call is being recorded.

Certain statements contained in this conference call that are not descriptions of historical facts are forward-looking statements such as terms defined in the Private Securities Litigation Reform Act of 1995. Because such statements can include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.

Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to those discussed in filings made by the company with the Securities and Exchange Commission. Many of the factors that will determine the company's future results are beyond the ability of management to control or predict.

Listeners should not place undue reliance on forward-looking statements, which reflects management reviews only as of the date hereof. The company undertakes no obligation to revise or update any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Again, welcome to the ALLETE's fourth quarter 2022 year-end financial results call. At this time, all participants are in a listen-only mode. After the speakers presentation there will be a question-and-answer session. [Operator Instructions]. Again please be advised that today’s conference is being recorded.

For opening remarks and introductions, I would now like to turn the conference over to ALLETE Chair, President and Chief Executive Officer, Bethany Owen. Please go ahead.

Bethany Owen

Thank you. Good morning, everyone, and thanks for joining us today. With me are ALLETE's Senior Vice President and Chief Financial Officer, Steve Morris; Frank Frederickson, Minnesota Power's Vice President of Customer Experience and Engineering Services; and Jeff Scissons, ALLETE Clean Energy's Chief Financial and Strategy Officer. Corresponding slides can be found on our website at allete.com in the Investors section and we’ll call out each slide number as we go through today's presentation.

This morning, ALLETE reported full year 2022 earnings of $3.38 per share on net income of $189.3 million, compared to 2021 earnings of $3.23 per share on net income of $169.2 million. In a few minutes Steve will provide more details on ALLETE's 2022 financial results, as well as our 2023 earnings guidance.