TC Energy Corporation (NYSE:TRP) Q3 2019 Earnings Conference Call - Final Transcript
Nov 01, 2019 • 11:00 am ET
Good morning, ladies and gentlemen. Welcome to the TC Energy 2019 Third Quarter Results Conference Call. I would now like to turn the meeting over to Mr. David Moneta, Vice President, Investor Relations. Please go ahead, Mr. Moneta.
Thanks very much and good morning everyone. I'd like to welcome you to TC Energy's 2019 Third Quarter Conference Call. With me today are Russ Girling, President and Chief Executive Officer; Don Marchand, Chief Financial Officer; Tracy Robinson, President, Canadian Natural Gas Pipelines; Stan Chapman, US Natural Gas Pipelines, President of that business unit; Paul Miller, President of Liquids Pipelines; Francois Poirier, Executive Vice President of Corporate Development and Strategy and President, Power & Storage and Mexico; and Glenn Menuz, Vice President and Controller.
Russ and Don will begin today with some opening comments on our financial results and certain other company developments. A copy of the slide presentation that will accompany their remarks is available on our website. It can be found in the Investors section under the heading Events and Presentations. Following their prepared remarks, we will take questions from the investment community. If you are a member of the media, please contact Jaimie Harding following this call and should be happy to address your questions.
In order to provide everyone from the investment community with an equal opportunity to participate, we ask that you limit yourself to two questions. If you have additional questions, please re-enter the queue. Also, we ask that you focus your questions on our industry, our corporate strategy, recent developments and key elements of our financial performance. If you have detailed questions related to some of our smaller operations, Duane and I'd be pleased to discuss them with you following the call.
Before us begins, I'd like to remind you that our remarks today will include forward-looking statements that are subject to important risks and uncertainties. For more information on these risks and uncertainties, please see the reports filed by TC Energy with Canadian Securities Regulators and with the US Securities Exchange Commission. Finally, during this presentation, we'll refer to measures such as comparable earnings, comparable earnings per share, comparable earnings before interest, taxes, depreciation and amortization or comparable EBITDA, comparable funds generated from operations, and comparable distributable cash flow. These and certain other comparable measures are considered to be non-GAAP measures. As a result, they may not be comparable to similar measures presented by other entities. These measures are used to provide you with additional information on TC Energy's operating performance, liquidity and its ability to generate funds to finance its operations.
With that, I'll now turn the call over to Russ.
Russell K. Girling
Thanks David and good morning everyone and thank you very much for joining us today. As highlighted in our quarterly report to shareholders during the third quarter, our $100 billion portfolio of high quality, long-life energy infrastructure assets continued to profit from strong supply and demand fundamentals. Those market fundamentals have resulted in demand for our services with the majority of our infrastructure