Canadian Pacific Railway Limited (CP) Q4 2022 Earnings Call Transcript

Canadian Pacific Railway Limited (NYSE:CP) Q4 2022 Earnings Conference Call January 31, 2023 4:30 PM ET

Company Participants

Maeghan Albiston - Investor Relations

Keith Creel - President and Chief Executive Officer

John Brooks - Chief Marketing Officer

Nadeem Velani - Chief Financial Officer

Conference Call Participants

Jon Chappell - Evercore ISI

Tom Wadewitz - UBS

Chris Wetherbee - Citigroup

Walter Spracklin - RBC Capital Markets

Ken Hoexter - Bank of America

Scott Group - Wolfe Research

Jason Seidl - Cowen

Brandon Oglenski - Barclays

Konark Gupta - Scotiabank

Steve Hansen - Raymond James

Brian Ossenbeck - JPMorgan

Ariel Rosa - Credit Suisse

Amit Mehrotra - Deutsche Bank

Justin Long - Stephens

Operator

Good afternoon. My name is Gretchen and I will be your conference operator today. At this time, I would like to welcome everyone to Canadian Pacific Fourth Quarter 2022 Conference Call. The slides accompanying today’s call are available at investor.cpr.ca. [Operator Instructions] I would now like to introduce Maeghan Albiston, Vice President, Capital Markets to begin the conference.

Maeghan Albiston

Thank you, Gretchen. Good afternoon, everyone and thank you for joining us today. Before we begin, I want to remind you that this presentation contains forward-looking information and actual results may differ materially. The risks uncertainties and other factors that could influence actual results are described on Slide 2 in the press release and in the MD&A filed with Canadian and U.S. regulators. This presentation also contains non-GAAP measures which are outlined on Slide 3.

With me here today is Keith Creel, President and CEO; John Brooks, Chief Marketing Officer; and we are welcoming back Nadeem Velani, our Chief Financial Officer and CP’s newest Conductor. The formal remarks will be followed by Q&A. [Operator Instructions]

It’s now my pleasure to introduce President and CEO, Mr. Keith Creel.

Keith Creel

Thanks, Maeghan. Let me start by thanking our 12,000 strong CP family. Their efforts have allowed us to produce these results in the fourth quarter and certainly over the course of 2022 and I can tell you what I am most proud of, which is I know is only enabled by their individual and collective efforts is the safety performance that the team produced in 2022, producing our lowest ever FRA accident frequency ratio in the company’s history and our 17th consecutive year of being best-in-class, best in the industry as it’s related to reportable train derailments in the industry, something to be extremely proud of.