Unitil Corporation (NYSE:UTL) Q1 2022 Earnings Conference Call May 3, 2022 10:30 AM ET
Company Participants
Todd Diggins - Director of Finance
Tom Meissner - Chairman, President and Chief Executive Officer
Bob Hevert - Senior Vice President, Chief Financial Officer and Treasurer
Conference Call Participants
Julien Dumoulin-Smith - BofA Securities
Operator
Good day, and thank you for standing by. Welcome to the Unitil First Quarter 2022 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions] Thank you.
I would now like to hand the conference over to your speaker today, Todd Diggins, Director of Finance. Sir, you may begin the conference.
Todd Diggins
Good morning, and thank you for joining us to discuss Unitil Corporation's first quarter 2022 financial results. Speaking on the call today will be Tom Meissner, Chairman, President and Chief Executive Officer; and Bob Hevert, Senior Vice President, Chief Financial Officer and Treasurer.
We will discuss financial and other information on this call. As we mentioned in the press release announcing this call, we have posted information including a presentation to the Investors section of our website at unitil.com. We will refer to that information during this call.
Moving to Slide 2, the comments made today about future operating results or events are forward-looking statements under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that can cause actual results to differ materially from those predicted.
Statements made on this call should be considered together with cautionary statements and other information contained in our most recent annual report on Form 10-K and other documents we have filed with or furnished to the Securities and Exchange Commission. Forward-looking statements speak only as of today, and we assume no obligation to update them.
This presentation contains non-GAAP financial measures. The accompanying supplemental information more fully describes these non-GAAP financial measures and includes a reconciliation to the nearest GAAP financial measures. The company believes these non-GAAP financial measures are useful in evaluating its performance.
With that, I will now turn the call over to Chairman, President and CEO, Tom Meissner.
Tom Meissner
Thanks, Todd, and good morning, everyone. Thanks for joining us. I'm going to begin on Slide 4, where today, we announced strong results for the first quarter of 2022 with net income of $21.5 million and earnings of $1.35 or 7.1% over the same period of 2021. Looking ahead, we maintain our long-term guidance of 5% to 7% growth in earnings per share with near-term earnings growth expected to be above the upper end of that range.