TransAlta Corporation Q1 2010 Earnings Call Transcript

TransAlta Corporation (TAC)

Q1 2010 Earnings Call

April 27, 2010 11:00 am ET

Executives

Jennifer Pierce - VP of IR and Communications

Steve Snyder - President and CEO

Brian Burden - CFO

Ken Stickland - CLO

Frank Hawkins - VP and Treasurer

Analysts

Linda Ezergailis - TD NewCrest

Bob Hastings - Canaccord Adams

Matthew Akman - Macquari

Andrew Kuske - Credit Suisse

Michael McGowan - BMO Capital Markets

Robert Kwan - RBC Capital Markets

Petro Panarites - CIBC World Markets

Presentation

Operator

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Good morning, ladies and gentlemen. Welcome to the 2010 first quarter results conference call. I would now like to introduce Jennifer Pierce, Vice President of Investor Relations and Communications. Please go ahead.

Jennifer Pierce

Thank you, Jessie, and good morning everyone. Welcome to TransAlta’s first quarter 2010 conference call. With me today are Steve Snyder, our President and CEO; Brian Burden, our Chief Financial Officer; Ken Stickland, our Legal Officer; and Frank Hawkins, our Vice President and Treasurer.

Earlier this morning, we realized our first quarter results, we hope you’ve had a chance to review them. Additional operating information will be posted on our website after this call. All information provided during this conference call is subject to the forward-looking statement qualification, which is detailed in today’s news release and incorporated in full for the purposes of our call. The amounts referenced in the review are in Canadian currency unless otherwise stated.

In addition, the non-GAAP terminology used in this call including comparable earnings, operating income and gross margin is reconciled starting on page 21 of the MD&A. Per share figures for the first quarter of 2010 are based on an average of 219 million shares outstanding compared to 198 million shares in the first quarter of 2009. Please note, financial information has been rounded to the nearest whole number.