Northwest Natural Holding Company (NYSE:NWN) Q3 2022 Earnings Conference Call November 8, 2022 11:00 AM ET

Company Participants

Nikki Sparley - Director-Investor Relations

David Anderson - President & Chief Executive Officer

Frank Burkhartsmeyer - Senior Vice President & Chief Financial Officer

Justin Palfreyman - Vice President, Strategy & Business Development

Conference Call Participants

Chris Ellinghaus - Siebert Williams

Selman Akyol - Stifel

Operator

Hello, and welcome to today's NW Natural Holding Company Q3 2022 Earnings Conference Call. [Operator Instructions]

I would now like to hand over to our host, Nikki Sparley, with NW Natural Holding. The floor is yours. Please go ahead.

Nikki Sparley

Thank you, Elliot. Good morning, and welcome to our third quarter 2022 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 our 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, and welcome. We continue to see strong financial results and expect the year to be in line with the guidance that we previously provided. Frank will go through more of the detailed financial results here in a moment.

This morning, I'll walk through some economic indicators and provide summary of Northwest Natural's Oregon general rate case order. I'll wrap up with an update on hydrogen projects at the gas utility and recent news from our water and competitive renewables business.

Turning to a few comments on the economy. In our gas utility service territory in Oregon and Washington, we continue to see strength in employment numbers, while the housing market moderates from its highs in 2021. Overall, Oregon is trending similar to national averages, but we continue to carefully monitor economic conditions. The labor market remains stable. In Oregon, for example, unemployment was 3.8% in September 2022. As expected, single-family health and activity is cooling as interest rates rise.