NuScale Power Corporation (NYSE:SMR) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET

Company Participants

Scott Kozak – Director-Investor Relations
John Hopkins – President and Chief Executive Officer
Ramsey Hamady – Chief Financial Officer
Clayton Scott – Chief Commercial Officer

Conference Call Participants

Eric Stine – Craig-Hallum
Marc Bianchi – TD Cowen
Leanne Hayden – Canaccord Genuity
Max Hopkins – CLSA
Ryan Pfingst – B. Riley Securities

Operator

Good afternoon and welcome to NuScale’s Third Quarter 2024 Earnings Results Conference Call. Today's call is being recorded. All participants are in a listen-only mode. After the management remarks there will be a question-and-answer session. [Operator Instructions] A replay of today's conference call will be available and accessible on NuScale's website at ir.nuscalepower.com. The web replay will be available for 30 days following the earnings call.

At this time for opening remarks, I would like to turn the call over to Scott Kozak, Director of Investor Relations. Please go ahead Mr. Kozak.

Scott Kozak

Thank you, operator. Welcome to NuScale's third quarter 2024 earnings results conference call. With us today are John Hopkins, President and Chief Executive Officer; and Ramsey Hamady, Chief Financial Officer.

On today's call, NuScale will provide an update on our business and discuss financial results. We will then open the phone lines for questions. This afternoon, we posted a set of supplemental slides on our Investor Relations website. As reflected in the Safe Harbor statements on Slide 2, the information set forth in the presentation discussed during the course of our remarks and the subsequent Q&A session includes forward-looking statements which reflect our current views of existing trends and are subject to a variety of risks and uncertainties. You can find a discussion of our risk factors, which could potentially contribute to such differences, in our Form 10-K and subsequent SEC filings.

I'll now turn the call over to John Hopkins, NuScale's President and Chief Executive Officer. John?

John Hopkins

Thank you, Scott, and good afternoon, everyone. For nearly two decades, energy demand in the United States has remained largely flat. However, in the past year, the growth trajectory has inflected with power demand forecasted to accelerate aggressively. While this demand outlook is supported by onshoring trends boosting domestic manufacturing, electrically powered transportation in heavy industry, the most important driver is data centers.

Technology companies are racing to secure massive amounts of uninterrupted energy to operate complex data centers and power increasingly sophisticated artificial intelligence. The demand for carbon-free energy is accelerating. This urgent need is at the heart of what NuScale technology can bring to this market. I'd like to take this time to reinforce our view that powering the technology industry is an integral part of our future.