American Water Works Company, Inc. (NYSE:AWK) Q4 2017 Earnings Conference Call Transcript
Feb 21, 2018 • 09:00 am ET
Good morning, and welcome to American Water's 2017 Fourth Quarter and Year-End Earnings Conference Call. As a reminder, this call is being recorded and it is also being webcast within an accompanying slide presentation through the Company's Investor Relations website.
Following the earnings conference call, an audio archive of the call will be available through February 28, 2018. US callers may access the audio archive toll free by dialing 1-877-344-7529. International callers may listen by dialing 1-412-317-0088. The access code for replay is 10116315. The online webcast will be available at American Waters Investor Relations home page at ir.amwater.com.
I would now like to introduce your host for today's call, Ed Vallejo, Vice President of Investor Relations. Mr. Vallejo, you may begin.
Thank you, Anita, and good morning, everyone, and thank you for joining us for today's call. As usual, we will keep the call to about an hour and at the end of our prepared remarks, we will open the call for your questions.
Now during the course of this conference call, both in our prepared remarks and in answers to your questions, we may make forward-looking statements that represent our expectations regarding our future performance or other future events. These statements are predictions based upon 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 the 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 December 31, 2017, Form 10-K, each as filed with the SEC.
Reconciliations for non-GAAP financial information discussed on this conference call, including adjusted net income, adjusted earnings per share, adjusted return on equity and our adjusted regulated O&M efficiency ratio can be found in our earnings release and in the appendix of the slide deck for the call. Also, this slide deck has been posted to our Investor Relations webpage. All statements in this call related to earnings and earnings per share refer to diluted earnings and earnings per share.
And with that I will now turn the call over to American Water's President and CEO, Susan Story.
Thanks Ed. Good morning, everyone, and thanks for joining us. After my opening comments today, our CFO, Linda Sullivan, will cover our fourth quarter and year-end 2017 results, tax reform impacts and our 2018 guidance and long-term outlook. Our COO, Walter Lynch, will then give key updates on our regulated operations. While their continuous volatility in the market, our fundamental story remains same. The vast majority of our business is regulated and our capital plan is critical to addressing ongoing infrastructure challenges. There're lots of national conversations about the urgent need to invest in water and wastewater in the US, a topic emphasized in the administrations recently released infrastructure