TC Energy Corporation (NYSE:TRP) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 11:00 am ET


TC Energy Corporation (NYSE:TRP) Q2 2020 Earnings Conference Call - Final Transcript


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Thank you for standing by. This is the conference operator. Welcome to the TC Energy 2020 Second Quarter Results Conference Call. [Operator Instructions] [Operator Instructions]. [Operator Instructions]

I would now like to turn the conference over to David Moneta, Vice President, Investor Relations. Please go ahead.

David Moneta

Thanks very much, and good morning, everyone. I'd like to welcome you to TC Energy's 2020 second quarter conference call. With joining me today are Russ Girling, President and Chief Executive Officer; Don Marchand, Executive Vice President, Strategy and Corporate Development and Chief Financial Officer; Francois Poirier, Chief Operating Officer and President, Power and Storage and Mexico; Tracy Robinson, President, Canadian Natural Gas Pipelines; Stan Chapman, President, U.S. Natural Gas Pipelines; Paul Miller, President, Liquids Pipelines; Bevin Wirzba, Senior Vice President, Liquids Pipelines; 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 she'd be happy to address your questions. [Operator Instructions] 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 relating to some of our smaller operations or your detailed financial models, Hunter and I would be pleased to discuss them with you following the call. Before Russ 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 U.S. Securities and Exchange Commission.

And 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 and comparable funds generated from operations. 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. They 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 turn the call over to Russ.

Russell Girling

Thank you, David, and good morning, everyone, and thank you all for joining us today. Clearly, we live in unprecedented times with COVID-19 having had a significant impact on people around the world. When the World Health Organization declared it global pandemic in early March, our business continuity plans were put in place across our whole organization, allowing us to continue to effectively operate our assets and execute on all of our capital programs. All of the services