Teekay Tankers Ltd. (NYSE:TNK) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET

Company Participants

Ed Lee – Investor Relations
Kenneth Hvid – President and Chief Executive Officer
Brody Speers – Chief Financial Officer

Conference Call Participants

Jonathan Chappell – Evercore
Omar Nokta – Jefferies
Ken Hoexter – Bank of America

Operator

Please standby. Welcome to the Teekay Group Third Quarter 2024 Earnings Results Conference Call. During the call, all participants will be in a listen-only mode. Afterwards, you will be invited to participate in a question-and-answer session. [Operator Instructions]

As a reminder, this call is being recorded. Now for opening remarks and introductions, I would like to turn the call over to the company. Please go ahead.

Ed Lee

Before we begin, I would like to direct all participants to our website at www.teekay.com where you’ll find a copy of the Teekay Group’s third quarter 2024 earnings presentation. Kenneth will review this presentation during today’s conference call.

Please allow me to remind you that our discussion today contains forward-looking statements. Actual results may differ materially from results projected by those forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Teekay Corporation and Teekay Tankers third quarter 2024 earnings releases and Teekay Group’s earnings presentation available on our website.

I will now turn the call over to Kenneth Hvid, Teekay Corporation and Teekay Tankers’ President and CEO to begin.

Kenneth Hvid

Thank you, Ed. Hello, everyone and thank you very much for joining us today for the Teekay Group’s third quarter 2024 earnings conference call. With the recent management changes, this earnings call will cover both Teekay Corporation and Teekay Tankers earnings for the quarter.

Joining me on the call today for the Q&A session is Brody Speers, Teekay Corporation’s and Teekay Tankers’ CFO; Ryan Hamilton, our VP-Finance and Corporate Development; and Christian Waldegrave, our Director of Research

Starting on Slide 3 of the presentation. Over the past few years, the Teekay Group has taken several important steps to streamline the organization. Notably, this includes the recent simplification of our group management and decision-making structure and TNK’s planned acquisition of our Teekay Australia business which we will cover in more detail later in the presentation, as well as Teekay Corporation’s transfer of all of its remaining management service companies to TNK which consists mainly of our shore based staff. The results of these steps is a new structure that looks similar to historical Teekay where Teekay Tankers is positioned as the fully integrated sole operating platform for the Teekay Group and Teekay Corp. as a strong supportive sponsor.