California Water Service Group (CWT) Q4 2022 Earnings Conference Call March 2, 2023 11:00 AM ET
Corporate Participants
Tom Scanlon - Corporate Controller
Marty Kropelnicki - President and Chief Executive Officer
Tom Smegal - Vice President, Chief Financial Officer and Treasurer
Greg Milleman - Vice President, Rates and Regulatory Affairs
Conference Call Participants
Angie Storozynski - Seaport Research Partners
Jonathan Reeder - Wells Fargo Securities
Davis Sunderland - Baird
Operator
Ladies and gentlemen, thank you for standing by. And welcome to the California Water Service Group Q4 and Year End 2022 Earnings Call.
I would like to turn the call over to Tom Scanlon, Corporate Controller. Please go ahead.
Tom Scanlon
Thank you, Mandy. Welcome, everyone, to the 2022 year and fourth quarter earnings results call for California Water Service Group. With me today is Marty Kropelnicki, our President and CEO; Tom Smegal, our Vice President, Chief Financial Officer; and Greg Milleman, our Vice President of Rates and Regulatory Affairs.
Replay dial-in information for this call can be found in our year-end earnings release, which was issued earlier today. The replay will be available until May 1, 2023. As a reminder, before we begin, the company has a slide deck to accompany the earnings call this quarter. The slide deck was furnished with an 8-K yesterday afternoon and is also available at the company's website at www.calwater.com.
Before looking at this year's results, we'd like to take a few minutes to cover forward-looking statements. During the course of the call, the company may make certain forward-looking statements. Because these statements deal with future events, they are subject to various risks and uncertainties and actual results may differ materially from the company's current expectations. Because of this, the company strongly advises all current shareholders as well as interested parties to carefully read and understand the company's disclosures on risks and uncertainties found in our Form 10-K, Form 10-Q, press releases and other reports filed from time-to-time with the Securities and Exchange Commission.
I want to start by pointing out Note 16, in the Form 10-K the company filed yesterday. During the fourth quarter of 2022. The company identified an immaterial error from regulatory liability and corresponding decreases to operating revenue and deferred income taxes that were not recorded in 2019. This is associated with customer refunds. The error does not impact customer billings or cash refunded to customers. The company corrected the error in the financial statements through a restatement of an opening retained earnings balance to the year ended December 31, 2020. For more details, please see the File 10-K.