FirstEnergy Corp. (FE) Q4 2022 Earnings Call Transcript

FirstEnergy Corp. (NYSE:FE) Q4 2022 Results Conference Call February 14, 2023 11:00 AM ET

Company Participants

Irene Prezelj - VP of IR & Communications

John Somerhalder - Interim President & CEO

Jon Taylor - SVP, CFO & Strategy

Conference Call Participants

Nick Campanella - Credit Suisse

Andy Storozynski - Seaport Global

Steve Fleishman - Wolfe Research

James Ward - Guggenheim Securities

David Arcaro - Morgan Stanley

Julien Dumoulin-Smith - Bank of America Merrill Lynch

Sophie Karp - KeyBanc Capital Markets

Anthony Crowdell - Mizuho Securities

Operator

Greetings, and welcome to the FirstEnergy Corp. Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the call over to Irene Prezelj, Vice President, Investor Relations and Communications for FirstEnergy Corp. Thank you. Ms. Irene Prezelj, you may begin.

Irene Prezelj

Thank you. Welcome to our fourth quarter and full year 2022 earnings call. Today, we will make various forward-looking statements regarding revenues, earnings, performance, strategies, prospects and other matters. These statements are based on current expectations and are subject to risks and uncertainties.

Factors that could cause actual results to differ materially from those indicated by these statements can be found on the Investors section of our website under the Earnings Information link and in our SEC filings. We will also discuss certain non-GAAP financial measures. Reconciliations between non-GAAP financial measures, the presentation that supports today's discussion and other detailed information about the quarter and year, can be found in the strategic and financial highlights document on the Investors section of our website.

We'll begin today's call with presentations from John Somerhalder, our Board Chair and Interim President and Chief Executive Officer; and Jon Taylor, our Senior Vice President and Chief Financial Officer. Several other executives will be available for the Q&A session.

Now I'll turn the call over to John Somerhalder.

John Somerhalder

Thanks, Irene. Good morning, everyone. Thanks for joining us. We had a strong year in 2022, and we are excited to make even more progress on our goals in 2023. Our full year 2022 GAAP earnings are $0.71 per share and operating earnings are $2.41 per share, which is slightly above the midpoint of our guidance range. Before I get started today, I would like to take a minute to say thank you to all of our employees for their efforts over the past year.