American Water Works Company, Inc. (AWK) CEO Susan Hardwick on Q2 2022 Results - Earnings Call Transcript

American Water Works Company, Inc. (NYSE:AWK) Q2 2022 Earnings Conference Call July 28, 2022 9:00 AM ET

Company Participants

Aaron Musgrave - Senior Director of Investor Relations

Susan Hardwick - President and Chief Executive Officer

John Griffith - CFO

Cheryl Norton - Executive Vice President and Chief Operating Officer

Conference Call Participants

Richard Sunderland - JPMorgan

Insoo Kim - Goldman Sachs

Angie Storozynski - Seaport Research Partners

Michael Gaugler - Janney Montgomery Scott

Ryan Greenwald - Bank of America

Gregg Orrill - UBS

Operator

Good morning, and welcome to American Water's Second Quarter 2022 Earnings Conference Call. As a reminder, this call is being recorded and is also being webcast with an accompanying slide presentation through the company's Investor Relations website. The audio webcast archive will be available for one year on American Water's Investor Relations website.

I would now like to introduce your host for today's call, Aaron Musgrave, Vice President of Investor Relations. Mr. Musgrave, you may begin.

Aaron Musgrave

Thank you, Jordan. Good morning, everyone, and thank you for joining us for today's call. At the end of our prepared remarks, we will open the call for your questions.

Let me first go over some safe harbor language. Today, we will be making forward-looking statements that represent our expectations regarding our future performance or other future events. These statements are predictions based on our current expectations, estimates and assumptions. However, since these statements deal with future events, they are subject to numerous known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from the results indicated or implied by such statements. Additional information regarding these risks, uncertainties and factors as well as a more detailed analysis of our financials and other important information is provided in the earnings release and in our June 30 Form 10-Q, each filed yesterday with the SEC.

The reconciliation for the calculation of the O&M efficiency ratio, a non-GAAP financial measure can be found in our earnings release and in the appendix of the accompanying slide deck, which has been posted to the Investor Relations page on our website. All statements during this presentation related to earnings and earnings per share refer to diluted earnings and earnings per share.

Susan Hardwick, our President and CEO, will discuss second quarter and year-to-date highlights and our focus on managing costs in today's inflationary environment. John Griffith, our Executive Vice President and CFO, will cover our financial results in more detail, review our affirmed 2022 earnings guidance and long-term targets, and we'll close with an update on recent acquisition activity. Cheryl Norton, our Executive Vice President and COO, will then review the progress of our investments year-to-date in the Regulated Businesses. We'll share some key details and milestones for several of our active general rate cases, and we'll conclude with another of our ESG impact stories. We'll then close by answering your questions.