Northwestern Corporation (NYSE:NWE) Q4 2019 Earnings Conference Call - Final Transcript
Feb 12, 2020 • 07:00 pm ET
Good day, and welcome to the NorthWestern Corporation's Year-End 2019 Financial Results Conference Call and Webcast.
At this time, I would like to turn the conference over to NorthWestern's Investor Relations Officer, Travis Meyer. Please go ahead, sir.
Travis E. Meyer
Thank you, Shelby. Good afternoon, and thank you for joining NorthWestern Corporation's financial results conference call and webcast for the year ending December 31st 2019. NorthWestern's results have been released and the release is available on our website at northwesternenergy.com. We've also released our 10-k pre-market this morning.
Joining us on the call today are Bob Rowe, President and Chief Executive Officer; Brian Bird, Chief Financial Officer; and additionally we have other members of the management team in the room with us to address questions.
Before I turn the call over for us to begin, please note that the company's press release, this presentation, comments by presenters and responses to your questions may contain forward-looking statements and non-GAAP financial information.
As such, I will remind you of our Safe Harbor language. During the course of this presentation, there will be forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often address our expected future business and financial performance and often contain words such as expects, anticipates, intends, plans, believes, seeks or will. The information in this presentation is based upon our current expectations, our actual future business and financial performance may differ materially and adversely from our expectations expressed in any forward-looking statements. We undertake no obligation to revise or publicly update our forward-looking statements or this presentation for any reason.
Although our expectations and beliefs are based upon reasonable assumptions, actual results may differ materially. The factors that may affect our results are listed in certain of our press releases are disclosed in the company's Form 10-K and 10-Q, along with other public filings with the SEC. Today's presentation also contains non-GAAP financial measures, please refer to the definitions and reconciliations of these measures that are included in our webcast materials. Following our presentation, we'll open the phone lines to allow those dialed into the teleconference to ask questions. The archived replay of today's webcast will be available for one year beginning at 6:00 p.m. Eastern Time today and can be found at our website under Our Company, Investor Relations, Presentations and Webcast link.
With that, I'll hand it over to President and CEO, Bob Rowe.
Robert C. Rowe
Good afternoon, thank you for joining us and we're calling in from our Sioux Falls Office, where the temperatures have rocketed up over the last couple of hours, and it's now a positive 2 degrees Fahrenheit.
Well, I'll start as always with some recent highlights. Net income for 2019 was $202.1 million that's a $5.1 million or 2.6% increase, compared to last year. Diluted EPS was $3.98, a $0.06 or 1.5% increase, compared to last year. Non-GAAP adjusted EPS was $3.42 and that's a $0.03 or a 9% increase, compared to 2018. The Board