SJW Group

Good afternoon and thank you for standing by. Welcome to the SJW Group first quarter 2023 financial results conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Andrew Walters, Chief Financial Officer and Treasurer. Please go ahead.

Thank you, operator. Welcome to the first quarter 2023 financial results conference call for SJW Group. I will be presenting today with Eric Thornburg, Chair of the Board, President, and Chief Executive Officer. For those who would like to follow along, slides accompanying our remarks are available on our website at sjwgroup.com. Before we begin today, I would like to remind you that this presentation and related materials posted on our website may contain forward-looking statements. These statements are based on estimates and assumptions made by the company in light of its experience, historical trends, current conditions, expected future results, as well as other factors that the company believes are appropriate under the circumstances. Many factors could cause the company's actual results and performance to differ materially from those expressed or implied by the forward-looking statements. For a description of some of the factors that would cause actual results to be different from statements in this presentation, we refer you to the financial results press release and to our most recent forms 10-K, 10-Q, and 8-K filed with the Securities and Exchange Commission, copies of which may be obtained on our website. All forward-looking statements are made as of today, and SJW Group disclaims any duty to update or revise such statements. You will have an opportunity to ask questions at the end of the presentation. And as a reminder, this webcast is being recorded, and an archive of the webcast will be available until July 24, 2023. You can access the press release and the webcast at our corporate website. I will now turn the call over to Eric Thornburg.

Eric. Welcome, everyone, and thank you for joining us. I'm Eric Thornburg, and it is my honor to serve as chair, president, and CEO of SJW Group. The first quarter of 2023 was successful for our company. We delivered on key elements of our growth strategy and have laid the foundation for a strong year. We invested $52.4 million in water and wastewater utility infrastructure, which constitutes 21% of our $255 million 2023 capital expenditure plan. We worked constructively with regulators to secure approval of general rate cases in Maine and an infrastructure surcharge in Connecticut, and we advanced the regulatory approval process for the acquisition of the Texas Water Utility, KT Water, that was announced earlier this year. We also delivered earnings per diluted share of 37 cents and made solid progress across our environmental, social, and governance goals as part of executing our strategic plan. Andrew will review our financial results and regulatory updates in our state operations.