NiSource Inc. (NYSE:NI) Q3 2018 Earnings Conference Call - Final Transcript

Nov 01, 2018 • 09:00 am ET


NiSource Inc. (NYSE:NI) Q3 2018 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to Q3 2018 NiSource Earnings Conference Call. (Operator Instructions) As a reminder, today's conference is being recorded. I would now like to turn the call over to Randy Hulen, VP of IR. Sir, please begin.

Randy Hulen

Thanks, Mark, and good morning, everyone. Welcome to the NiSource third quarter 2018 investor call. Joining me this morning are Joe Hamrock, CEO; and Donald Brown, CFO. The purpose of today's call is to review NiSource's financial performance for the third quarter 2018, as well as provide an update on our operations, growth drivers and financing plans. Following our presentation, we'll open the call up to your questions. Before turning the floor over to Joe and Donald, just a quick reminder.

Some of the statements made during this presentation will be forward-looking. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the statements. Information concerning such risks and uncertainties is included in the MD&A and risk factors sections of our periodic SEC filings. In addition some of the statements made on this recording relate to non-GAAP measures. For additional information on the most directly comparable GAAP measure and a reconciliation of these measures, please refer to the supplemental slides and additional segment information including our full financial schedules available at

With all that out of the way, I'd like to turn the call over to Joe.

Joe Hamrock

Thanks, Randy. Good morning, everyone and thank you for joining us. As most of you know in the period since our last investor call, NiSource and our customers in the Greater Lawrence, Massachusetts area experienced an event of unprecedented proportions. This tragic event has been a humbling experience for all of us at NiSource and Columbia Gas and we realized that much work lies ahead of us to finish our service restoration in Greater Lawrence and regain the trust of our customers and the communities we serve. In Greater Lawrence, we continue to stay keenly focused on helping our customers and restoring the impacted communities.

We are committed to restoring service to customers there safely and as quickly as possible. Safety and the care of our customers is very foundation of our business. Although, the reviews of this incident are not complete, we are taking steps across our seven-state footprint to enhance system safety. Those measures include procedures and protocols that help guard low-pressure systems from the risks that can lead to overpressure incidents with emphasis on enhanced project designs, controls and risk management, and enhanced damage prevention protocols. In addition, the plan includes responsive measures such as designs that would automatically shutdown an affected system or otherwise protect customer property in the event of an overpressure situation.

Across NiSource, our teams continue working to enhance safety for our customers and communities. And our team in Indiana is taking significant steps to advancing our long-term electric business strategy.

Let's now turn to Slide 3, which outlines some of our key accomplishments