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Teekay Corporation Ltd. (NYSE:TK) Q2 2025 Earnings Conference Call July 31, 2025 11:00 AM ET

Company Participants

Brody Speers - CFO & Treasurer, Teekay Corporation Ltd.
Christian Waldegrave - Director of Research & Commercial Performance, Teekay Tankers Ltd.
Kenneth Hvid - President, CEO & Director, Teekay Corporation Ltd.
Lee Edwards - Financial Analyst, Teekay Corporation Ltd.

Conference Call Participants

Omar Mostafa Nokta - Jefferies LLC

Operator

Welcome to the Teekay Group's Second Quarter 2025 Earnings Results Conference Call. [Operator Instructions] As a reminder, this call is being recorded now. For opening remarks and introductions, I would like to turn it over to the company. Please go ahead.

Lee Edwards

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 Second Quarter 2025 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 second quarter 2025 Teekay Group 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 Second Quarter 2025 Earnings Conference Call. 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, we will cover Teekay Tankers' recent highlights. Teekay Tankers reported GAAP