ITC Holdings' CEO Discusses Q1 2012 Results - Earnings Call Transcript

ITC Holdings Corp. (ITC)

Q1 2012 Earnings Call

April 25, 2012, 11:00 a.m. ET

Executives

Gretchen Holloway – Director of Investor Relations

Joseph Welch – President, Chief Executive Officer

Cameron Bready – Chief Financial Officer, Executive Vice President

Analysts

Jonathan Arnold – Deutsche Bank

James Dobson – Wunderlich Securities

Neil Kalton – Wells Fargo

Kevin Cole – Credit Sussie

Presentation

Operator

Good day ladies and gentlemen and welcome to ITC Holdings Corporation First Quarter Conference Call and Webcast. At this time, all participants are in a listen-only mode. Later we’ll conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder this conference call maybe recorded.

I would now like to turn the conference over to Ms. Gretchen Holloway. Ma’am you may begin.

Gretchen Holloway

Good morning everyone, and thank you for joining us for ITC’s 2012 first quarter earnings conference call. Joining me on today’s call are Joseph Welch, Chairman, President and CEO of ITC, and Cameron Bready, our Executive Vice President and CFO.

Last night, we issued a press release summarizing our results for the quarter ended March 31, 2012. We expect to file our Form 10-Q with the Securities and Exchange Commission today.

Before we begin, I would like to remind everyone of the cautionary language contained in the Safe Harbor statement. Certain statements made during today’s call that are not historical facts, such as those regarding our future plans, objectives and expected performance are considered forward-looking statements under Federal Securities Laws. While we believe these statements are reasonable, they are subject to various risks and uncertainties and actual results may differ materially from our projections and expectations. These risks and uncertainties are discussed in our reports filed with the SEC, such as our periodic reports on Forms 10-Q and 10-K and our other SEC filings. You should consider these risk factors when evaluating our forward-looking statements. Our forward-looking statements represent our outlook only as of today and we disclaim any obligation to update these statements, except as maybe required by law. A reconciliation of the non-GAAP financial measures discussed on today’s call is available on the Investor Relations page of our website.

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