TC Energy Corporation (TRP) Q2 2023 Earnings Call Transcript

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Thank you for standing by. This is the conference operator. Welcome to the TC Energy Second Quarter 2023 Financial Results Conference Call. As a reminder, all participants are in listen-only mode. And the conference is being recorded. After the presentation there will be an opportunity to ask questions. [Operator Instructions]

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

Gavin Wylie

Yes, thanks very much and good morning everyone. I'd like to welcome you to TC Energy's 2023 second quarter conference call. Joining me are Francois Poirier, President and Chief Executive Officer; Joel Hunter, Executive Vice President and Chief Financial Officer along with other members of our executive leadership team. Francois will begin with comments around the announcement we’ve made this week, Bevin will provide additional details around the spin-off of our liquids pipelines business and Joel with our financial and operational results.

A copy of the slide presentation that will accompany the remarks and additional presentation materials on the announced spin-off are available on our website under the Investors section. Following the remarks, we'll take questions from the investment community. [Operator Instructions]

I'd like to remind you that remarks today will include forward-looking statements that are subject to important risks and uncertainties. For more information, please see the reports filed by TC Energy with Canadian Securities Regulators and with the U.S. Securities Exchange Commission.

Finally, during the presentation, we'll refer to certain non-GAAP measures that may not be comparable to similar measures presented by other entities. These measures are used to provide additional information on TC Energy's operating performance, liquidity and its ability to generate funds to finance its operations. A reconciliation of various GAAP and non-GAAP measures is contained in the appendix of the presentation.

With that, I'll now turn over to Francois.

Francois Poirier

Thanks, Gavin, and good morning everyone. Well, it's been a busy week, but -- and extremely transformative one that sets out our company's path for the next decade. TC Energy's long-term strategy is focused on unlocking disciplined growth, having financial strength, and operating safely and efficiently. And the announcements we've made this week all aligned to that vision.

As we've said all along, energy fundamentals drive our strategy and our decisions. And what we're seeing is that all forms of energy will be required to meet demand. And we are very fortunate to have incumbency across a wide range of energy infrastructure platforms. We're an incumbent in transporting natural gas from the Western Canadian basin. We're an incumbent transporting natural gas from the Appalachian basin. We’re an incumbent with the shortest transit time for crude oil to Gulf Coast Refineries. We're building incumbency in importing natural gas into Mexico. And of course, we have incumbency in nuclear generation in Ontario.