South Bow Corporation (SOBO) Q2 2025 Earnings Call Transcript

South Bow Corporation (NYSE:SOBO) Q2 2025 Earnings Conference Call August 7, 2025 10:00 AM ET

Company Participants

Bevin Mark Wirzba – President, CEO & Director
Martha Wilmot – Corporate Participant
P. Van R. Dafoe – Senior VP & CFO
Richard J. Prior – Senior VP & COO

Conference Call Participants

Burke Charles Sansiviero – Wolfe Research, LLC
Jessica Hoyle – Scotiabank Global Banking and Markets, Research Division
Maurice Choy – RBC Capital Markets, Research Division
Praneeth Satish – Wells Fargo Securities, LLC, Research Division
Sam Burwell – Unidentified Company

Operator

Good day, and thank you for standing by. Welcome to the South Bow Quarter 2 Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to Martha, your first speaker for today. Please go ahead.

Martha Wilmot

Thank you, Brianna, and welcome, everyone, to South Bow’s Second Quarter 2025 Earnings Call. With me today are Bevin Wirzba, President and Chief Executive Officer; Van Dafoe, Senior Vice President and Chief Financial Officer; and Richard Prior, Senior Vice President and Chief Operating Officer. We also have additional members of our leadership team in the room to help with the question- and-answer session.

Before I turn it over to Bevin, I’d like to remind listeners that today’s remarks will include forward-looking information and statements, which are subject to the risks and uncertainties addressed in our public disclosure documents available under South Bow’s SEDAR+ profile and in South Bow’s filings with the SEC.

Today’s discussion will also include non-GAAP financial measures and ratios, which may not be comparable to measures presented by other entities.

With that, I’ll turn it over to Bevin.

Bevin Mark Wirzba

Thanks, Martha, and good morning, everyone. We appreciate you joining us today. South Bow’s second quarter financial results once again exemplified the