Canadian Pacific Railway Limited (CP) CEO Keith Creel on Q1 2022 Results - Earnings Call Transcript

Canadian Pacific Railway Limited (NYSE:CP) Q1 2022 Earnings Conference Call April 27, 2022 4:30 PM ET

Company Participants

Maeghan Albiston - Vice President of Capital Markets

Keith Creel - President & Chief Executive Officer

John Brooks - Executive Vice President & Chief Marketing Officer

Nadeem Velani - Executive Vice President & Chief Financial Officer

Mike Upchurch - Chief Financial Officer, Kansas City Southern

Conference Call Participants

Jon Chappell - Evercore ISI

Fadi Chamoun - BMO

Chris Wetherbee - Citi

Walter Spracklin - RBC Capital Markets

Tom Wadewitz - UBS

Ken Hoexter - Bank of America

Scott Group - Wolfe Research

Konark Gupta - Scotiabank

Brandon Oglenski - Barclays

Jason Seidl - Cowen

Benoit Poirier - Desjardins Bank

Brian Ossenbeck - JPMorgan

Steve Hansen - Raymond James

Operator

Good afternoon. My name is Leo and I'll be your conference operator today. At this time, I would like to welcome everyone to Canadian Pacific's First Quarter 2022 Conference Call. The slides accompanying today's call are available at investor.cpr.ca. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to introduce Maeghan Albiston, Vice President, Capital Markets, to begin the conference.

Maeghan Albiston

Thank you, Leo. 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 our 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, our President and Chief Executive Officer; Nadeem Velani, Executive Vice President and Chief Financial Officer; and John Brooks, Executive Vice President and Chief Marketing Officer. Also attending our call today on behalf of KCS, our CEO, Pat Ottensmeyer; and CFO, Mike Upchurch, who will be happy to answer any questions regarding KCS.

As CP investors are aware, KCS is now beneficially owned by CP through a voting trust, pending control approval by the STB. During this trust period and prior to the STB approving CP's control of KCS, CP and KCS operate independently and KCS' business is managed by its own officers and is overseen by its own Board of Directors. During this trust period, truly KCS' management is in the best position to answer investor questions regarding their performance and results. I would highlight that KCS has also posted an information package to their website. And should you have any questions about their performance that aren't addressed on today's call, Ashley and Daniel on KCS' IR team would be pleased to answer your questions. The formal remarks today will be followed by Q&A. And in the interest of time, we'd appreciate if you could limit your questions to one.