DCP Midstream, LP (DCP) CEO Wouter van Kempen on Q1 2022 Results - Earnings Call Transcript

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Q1: 2022-04-29 Earnings Summary

EPS of $1.32 beats by $0.11
 | Revenue of $36.72B (67.47% Y/Y) beats by $1.51B

DCP Midstream, LP (DCP) Q1 2022 Earnings Conference Call May 5, 2022 10:00 AM ET

Company Participants

Mike Fullman – Investor Relations
Wouter van Kempen – Chairman, President and Chief Executive Officer
Sean O'Brien – Chief Financial Officer

Conference Call Participants

Spiro Dounis – Credit Suisse
Michael Blum – Wells Fargo
Gabe Moreen – Mizuho
Miko Cusumano – Pickering Energy Partners
James Carreker – U.S. Capital Advisors

Mike Fullman

Thank you. Good morning, and welcome to the DCP Midstream first quarter 2022 earnings call. Today's call is being webcast, and I encourage those listening on the phone to view the supporting slides, which are available on our website at dcpmidstream.com.

Before we begin, I'd like to point out that our discussion today includes forward-looking statements. Actual results may differ due to certain risk factors that affect our business. Please review the second slide in the deck that describes our use of forward-looking statements, and for a complete listing of the risk factors, please refer to the partnership's latest SEC filings. We will also use various non-GAAP financial measures, which are reconciled to the most comparable GAAP financial measure in schedules in the appendix section of the slides.

Wouter van Kempen, CEO, and Sean O'Brien, CFO, will be our speakers today. And after their remarks, we'll take your questions.

With that, I'll turn the call over to Wouter.

Wouter van Kempen

Thank you, Mike. Good morning everyone. We appreciate you joining us. On today's call we'll look at our Q1 financial performance, highlighting the earnings power of the diversify DCP business model and reviewing the significant progress we've made towards strengthening our balance sheet.

Before getting into our quarterly results, I'd like to briefly touch on the macro environment, impacting the energy industry today.

On our fourth quarter call, I highlighted the

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