Northwest Natural Holding Company (NYSE:NWN) Q1 2023 Results Conference Call May 4, 2023 11:00 AM ET

Company Participants

Nikki Sparley - Director of IR & Treasury

David Anderson - President, CEO & Director

Frank Burkhartsmeyer - Senior VP & CFO

Justin Palfreyman - SVP of Strategy & Business Development

Kimberly Rush - Senior VP of Operations & CMO

Conference Call Participants

Tate Sullivan - Maxim Group

Selman Akyol - Stifel

Operator

Good morning, ladies and gentlemen. Welcome to the NW Natural Holdings Company Q1 2023 Earnings Call. My name is Jaquita. I will be your moderator for today's call. [Operator Instructions]

I would now like to pass the conference over to your host, Nikki Sparley with NW Natural Holdings. Nikki, please go ahead.

Nikki Sparley

Thanks, Jaquita. Good morning, and welcome to our first quarter 2023 earnings call. As a reminder, some things that will be said this morning contain forward-looking statements. They are based on management's assumptions, which may or may not occur. For a complete list of cautionary statements, refer to the language at the end of our press release. We expect to file our 10-Q later today. As mentioned, this teleconference is being recorded and will be available on our website following the call. Please note, these calls are designed for the financial community. If you are an investor and have additional questions after the call, please contact me directly at (503) 721-2530. News media may contact David Roy at (503)610-7157.

Speaking this morning are David Anderson, President and Chief Executive Officer; and Frank Burkhartsmeyer, Senior Vice President and Chief Financial Officer. David and Frank have prepared remarks and then will be available along with other members of our executive team to answer your questions.

With that, I will turn it over to David.

David Anderson

Thanks, Nikki, and good morning, everybody. Welcome. We started off the year strong. Our financial results are solid, and we continue to make progress on all key objectives. This morning, I'll walk through a few financial and economic indicators and some decarbonization initiatives at our gas utility. Frank will then go through the quarter's results, and then I'll wrap up with an update on Northwest Natural Water and our renewables company. We reported net income of $2.01 per share in the first quarter compared to net income of $1.80 per share for the same period last year. These results were largely driven by higher revenues in Oregon and Washington from our natural gas utility, along with solid customer growth from our gas and water companies.