Portland General Electric Company (NYSE:POR) Q4 2023 Earnings Conference Call February 16, 2024 11:00 AM ET

Company Participants

Nick White - Manager, Investor Relations

Maria Pope - President & Chief Executive Officer

Joe Trpik - Senior Vice President of Finance & Chief Financial Officer

Conference Call Participants

Nicholas Campanella - Barclays

Julien Dumoulin-Smith - Bank of America

Gregg Orrill - UBS

Paul Fremont - Ladenburg Thalmann

Travis Miller - Morningstar, Inc.

Willard Grainger - Mizuho Securities

Operator

Good morning, everyone, and welcome to Portland General Electric Company's Fourth Quarter 2023 Earnings Results Conference Call. Today is Friday, February 16, 2024. This call is being recorded, and as such, all lines have been placed on mute to prevent any background noise. [Operator Instructions]

For opening remarks, I will turn the call over to Portland General Electric's Manager of Investor Relations, Nick White. Please go ahead, sir.

Nick White

Thank you, Daniel. Good morning, everyone. I'm happy you can join us today. Before we begin this morning, I would like to remind you that we have prepared a presentation to supplement our discussion, which we'll be referencing throughout the call. The slides are available on our website at investors.portlandgeneral.com.

Referring to Slide 2, some of our remarks this morning will constitute forward-looking statements. We caution you that such statements involve inherent risks and uncertainties, and actual results may differ materially from our expectations. For a description of some of the factors that could cause our actual results to differ materially, please refer to our earnings press release and our most recent periodic reports on Forms 10-K and 10-Q, which are available on our website.

Leading our discussion today are Maria Pope, President and CEO; and Joe Trpik, Senior Vice President Finance and CFO. Following their prepared remarks, we will open the line for your questions.

Now it's my pleasure to turn the call over to Maria.

Maria Pope

Thank you, Nick, and good morning. Thank you all for joining us today. Beginning with Slide 4, I'll discuss our 2023 full year and fourth quarter results and then turn to our outlook for 2024 and beyond. For the full year, we reported GAAP net income of $228 million or $2.33 per diluted share and non-GAAP adjusted net income of $233 million or $2.38 per share. This compares with GAAP net income of $233 million or $2.60 per share and non-GAAP adjusted net income of $245 million or $2.74 per share in 2022.