Shaw Communications, Inc. (NYSE:SJR) Q2 2020 Earnings Conference Call - Final Transcript

Apr 09, 2020 • 09:30 am ET


Shaw Communications, Inc. (NYSE:SJR) Q2 2020 Earnings Conference Call - Final Transcript


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Thank you for standing by. Welcome to Shaw Communications' Second Quarter 2020 Conference Call and Webcast. Today's call will be hosted by Mr. Brad Shaw, CEO and Executive Chair of Shaw Communications. [Operator Instructions]

Before we begin, management would like to remind listeners that comments made on today's call will include forward-looking statements -- information and there will be risks that actual results could differ materially. Please refer to the Company's publicly filed documents for more details on assumptions and risks.

Mr. Shaw, I will now turn the call over to you.

Bradley Shaw

Thank you, operator, and good afternoon everyone and thank you for taking the time to join us. I just want to let you know from a logistics point of view, myself and the CFO are in Calgary and the President of Shaw is in Toronto. And I think that today -- these days, we have to do it that way. So I just want to give you a little logistics update. But as I mentioned, with me today are Paul McAleese, President of Shaw Communications and our Chief Financial and Corporate Development Officer, Trevor English.

Before we begin and on behalf of all of us at Shaw, we want to send our well-wishes to everyone during this -- these challenging and turbulent times and we truly hope that each and every one of you and your families are healthy and safe.

Today, we'll be discussing our response to the COVID-19 pandemic including our numerous employee, customer and community initiatives. We will also touch upon our second quarter results which were solid and in line with expectations.

To say that the events over the last several weeks have been extremely challenging would be an understatement, both professionally and personally. Due to COVID-19 and the significant uncertainty that surrounded, many factors fall outside of our control, such as the duration and magnitude of the impacts on our business, the sector and the overall economy. The economic challenges from this pandemic are further amplified by the extremely low commodity prices, which will impact many that live and work in Alberta.

We are still in relatively early stages of this pandemic making it challenging to know that the degree to which we could be affected. Our management team is closely monitoring the situation and we are exercising agility and being disciplined with our actions. We are focused on the safety of our employees, the integrity of our networks and the delivery of our products and services through our operational focus and on maintaining our strong financial position, including our balance sheet flexibility and ample liquidity. I believe that our business is resilient and that we will emerge from this crisis in an even stronger position. And I want to spend some time highlighting the key actions we have taken to support our employees, customers and our communities.

First, it is incumbent on all of us to do our part to help prevent the rapid spread of this virus and we want to send