WEC Energy Group, Inc. (WEC) Q3 2022 Earnings Call Transcript

WEC Energy Group, Inc. (NYSE:WEC) Q3 2022 Results Conference Call November 1, 2022 2:00 PM ET

Company Participants

Gale Klappa - Executive Chairman

Scott Lauber - President, Chief Executive Officer

Xia Liu - Chief Financial Officer

Beth Straka - SVP, Corporate Communications and Investor Relations

Conference Call Participants

Shar Pourreza - Guggenheim Partners

Julien Dumoulin-Smith - Bank of America

Rich Sunderland - JP Morgan

Durgesh Chopra - Evercore ISI

Michael Lapides - Goldman Sachs

Steven Fleishman - Wolfe Research

Anthony Crowdell - Mizuho Securities

Nicholas Campanella - Crédit Suisse

Jeremy Tonet - JPMorgan Chase

Vedula Murti - Hudson Bay Capital

Operator

Good afternoon, and welcome to WEC Energy Group's Conference Call for Third Quarter 2022 Results. This call is being recorded for rebroadcast. [Operator Instructions]

Before the conference call begins, I remind you that all statements in the presentation, other than historical facts, are forward-looking statements that involve risks and uncertainties that are subject to change at any time. Such statements are based on management's expectations at the time they are made.

In addition to the assumptions and other factors referred to in connection with the statements, factors described in WEC Energy Group's latest Form 10-K and subsequent reports filed with the Securities and Exchange Commission could cause actual results to differ materially from those contemplated.

During the discussions, referenced earnings per share will be based on diluted earnings per share, unless otherwise noted. After the presentation, the conference will be open to analysts for questions and answers. In conjunction with this call, a package of detailed financial information is posted at wecenergygroup.com. A replay will be made available approximately 2 hours after the conclusion of this call.

And now it's my pleasure to introduce Gale Klappa, Executive Chairman of WEC Energy Group. Please go ahead.

Gale Klappa

Thank you, and good afternoon, everyone, and thank you for joining us today as we review our results for the third quarter of 2022. First, I'd like to introduce the members of our management team who are here with me. We have Scott Lauber, our President and Chief Executive; Xia Liu, our Chief Financial Officer; and Beth Straka, Senior Vice President of Corporate Communications and Investor Relations.

Now as you saw from our news release this morning, we reported third quarter 2022 earnings of $0.96 a share. The major factors shaped another solid quarter. Strong performance from our Infrastructure segment, an uptick from our ownership in American Transmission Company, plus a warm close to the summer in September.