Anterix Inc (NASDAQ:ATEX) Q1 2021 Earnings Conference Call - Final Transcript
Sep 16, 2020 • 04:30 pm ET
Thank you. Ladies and gentlemen, the floor is now open for questions. [Operator Instructions]. Your first question is coming from George Sutton. Your line is live.
Thank you. There was more discussion on rate cases and infrastructure funding and sort of the help that I think you'll provide the utilities in moving forward. And I'm just curious if -- was that an expected part of the process or has that been added as you're finding that to be part of the friction towards getting deals done?
Hey, George, it's Morgan. Let me give a brief answer and then turn it perhaps to Rob. I would say, we knew from the outset what a complex environment the investor and utilities operate within. So on the one hand, you have their great advantage that they can invest huge amounts of capital if they prove that it's a prudent investment and they can actually earn a return on it. So that put them solidly in our sites from the beginning. So we knew the complexity of the process. But of course, we're getting more and more savvy as we bring in all these experts.
Rob, how do you want to amplify that?
Yeah. I think it's spot on, George. No, I would not say it's anything new, it's just the opposite. We've been talking about our top-down and our bottom-up strategy approach to the segment from really when we started in that. We always saw that having top-down is our regulatory team, which was spread between the FCC and the industry now with the completion of the FCC process. We're really laser-focused on the industry regulatory. And on this advisory council, I talked about, we have former commissioners from California, as we mentioned, but also Texas and Illinois and experts from different areas of the utility industry, really helping what I think considered grease the skids and prepare the elements so that the rate cases get approved quicker so that regulators understand this.
And the last piece you asked about sort of the federal funding. Obviously, you're reading as everyone else is about all of the potential for stimulus funding that's going to come through on a bipartisan basis potentially. And we definitely see -- just like history, I talked about it in 2009, the way money came through and flowed to a lot of the smart grid deployment, the smart meters that got to put throughout the industry, we see another opportunity to be able to capitalize on this important need with the potential for more funding. And so we're also helping and focusing those resources on driving to make sure they get their fair share of that for -- to put out broadband private networks.
Yeah. And I would say that partly, we're now in response mode because we're getting more and more awareness as a result of the education coming from the PoCs. They're now asking us. We used to feel like fish out of water at NARUC meetings. Now we're