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INVESTOR PRESENTATION – Atmos Energy

Atmos Energy · Mar 30, 2015 · 36 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. INVESTOR PRESENTATION – Atmos Energy – slide 1
    Atmos Energy Corporation Delivering clean, safe and economical energy to over 3 million homes and businesses Atmos Energy A multi-state regulated natural gas delivery company achieving strong financial growth through…
  2. INVESTOR PRESENTATION – Atmos Energy – slide 2
    Investment Highlights A Pure-Play, High-Growth Natural Gas Delivery Investment Proposition Attractive total return proposition of 9 - 11% Attractive pure-play 6 - 8% forecasted EPS growth through Fiscal 2018; current dividend yield of…
  3. INVESTOR PRESENTATION – Atmos Energy – slide 3
    Attractive, Pure-Play Return Constructive Regulatory Mechanisms Support Efficient Conversion of Rate Base Growth Opportunities into Financial Results 900 million - 1.1 billion in annual Constructive rate mechanisms 6% - 8%…
  4. INVESTOR PRESENTATION – Atmos Energy – slide 4
    Leading Natural Gas Delivery Platform Eight-state distribution territory Business mix Intrastate pipeline system Regulated distribution 61% Regulated distribution 68% Regulated Nonregulated pipeline 9% Regulated 30%…
  5. INVESTOR PRESENTATION – Atmos Energy – slide 5
    Regulated Operations in Texas Scope of Texas Operations Distribution and Pipeline Over 60% of consolidated margins and about 70% of asset base are concentrated in Texas Constructive regulatory framework supports investment in system…
  6. INVESTOR PRESENTATION – Atmos Energy – slide 6
    Distribution Divisions in Texas Operate in Constructive Regulatory Environment Distribution Divisions in Texas Serve Approximately 1.8 Million Customers Largest natural gas distributor in Texas Regulated by the Railroad…
  7. INVESTOR PRESENTATION – Atmos Energy – slide 7
    Favorably Positioned Regulated Pipeline Spans Texas Shale Gas Supply Basins Atmos Pipeline Texas Regulated by the Railroad Commission of Texas Established to provide gas supply service to Mid-Tex and other LDCs 100% of margin…
  8. INVESTOR PRESENTATION – Atmos Energy – slide 8
    Constructive Rate Mechanisms Reduce Regulatory Lag 45% of Fiscal 2015E CAPEX is Unlagged % of 2015E Spend Months of Lag Capex (in millions) Unlagged Unlagged Fiscal Capital Mid-Tex and West Texas Rule 8.209, 400 450 Mississippi,…
  9. INVESTOR PRESENTATION – Atmos Energy – slide 9
    Regulatory and Recovery Mechanisms Regulatory Mechanism Recovery Method Jurisdiction Infrastructure Forward General Rate Base Annual Filing Program Looking Case (in millions) Texas Mid-Tex 8.209 - RRM/DARR/GRIP - 1,799…
  10. INVESTOR PRESENTATION – Atmos Energy – slide 10
    Constructive Rate Outcomes Drive Operating Income Growth Implemented Annual Increases to Operating Income 1 Distribution and Pipeline Operations 150.0 Customers and investors 122.3 134.0 benefit from fair and 125.0 105 - 125…
  11. INVESTOR PRESENTATION – Atmos Energy – slide 11
    Average Residential Bill Average Customer Bill Remains Affordable 70 60 58 57 56 2015E 2018E Assumptions 50 Monthly / Customer Normal weather and consumption 40 900 million - 1.1 billion annual CAPEX 30 Average all-in…
  12. INVESTOR PRESENTATION – Atmos Energy – slide 12
    Capital Expenditures Drive Rate Base Growth Consolidated 2015E Capital Expenditures of 900 million - 1.0 billion ( millions) 1,100 900M - 1.1B Safety & Reliability 750 - 900 1,000 900M - 1.0B million 900 845.0 835.3 Pipeline…
  13. INVESTOR PRESENTATION – Atmos Energy – slide 13
    Capital Spending Drives Rate Base Growth Strong Regulated Rate Base Growth Focused on enhancing system safety and reliability 7.2 - 7.4 Billion 8,000 7,000 6,000 ( billions) 5,000 4.1 Billion 4,000 3,000 2,000 1,000…
  14. INVESTOR PRESENTATION – Atmos Energy – slide 14
    Investments Drive Rate Base Growth that Drives Earnings Growth Earnings Per Share Expected to Grow Between 6% 8% Annually Consolidated Results Factors Included in Projections 3.50 - 3.75 Capital expenditures of 900 4.00 million - 1.1…
  15. INVESTOR PRESENTATION – Atmos Energy – slide 15
    Fiscal 2015E Guidance Atmos Energy continues to expect earnings to be in the range of 2.90 to 3.05 per diluted share for the 2015 fiscal year, excluding unrealized margins. Net Income (excluding Mark-to-Market) Selected Expenses (…
  16. INVESTOR PRESENTATION – Atmos Energy – slide 16
    Strong Financial Foundation Long-Term Debt Maturity and Liquidity Profile Debt Maturity as of Liquidity Profile as of December 31, 2014 December 31, 2014 millions millions 1,760 1,500 1,800 123.8 75.0 1,200 0.9 billion 5…
  17. INVESTOR PRESENTATION – Atmos Energy – slide 17
    Strong Financial Foundation Improved Weighted Average Cost of Long-Term Debt Average maturities about 20 years after 500 million issuance in October 2014 2,500 8.0 2,000 Net Long Term Debt 7.0 Interest Rate % 6.9 6.9…
  18. INVESTOR PRESENTATION – Atmos Energy – slide 18
    Sustainable and Growing Dividend 31 Consecutive Years of Dividend Increases 1.60 1.56E Quarterly Dividend On February 3, 2015, 1.40 the Board of Directors declared a quarterly 1.20 dividend of 0.39 per share 1.00 125th…
  19. INVESTOR PRESENTATION – Atmos Energy – slide 19
    Total Shareholder Return Since Implementing Growth through Infrastructure Investment Strategy 150.0 139.2 125.0 121.0 100.0 92.8 Percent 86.3 75.0 Peer Average*: 67.7% 58.4 59.3 61.1 53.6 53.8 56.0 50.0 27.4 28.8…
  20. INVESTOR PRESENTATION – Atmos Energy – slide 20
    Investment Highlights A Pure-Play, High-Growth Natural Gas Delivery Investment Proposition Attractive total return proposition of 9 - 11% Attractive pure-play 6 - 8% forecasted EPS growth through Fiscal 2018; current dividend yield of…
  21. INVESTOR PRESENTATION – Atmos Energy – slide 21
    Select Q1 Fiscal 2015 Conference Call Slides 22
  22. INVESTOR PRESENTATION – Atmos Energy – slide 22
    Consolidated Financial Results Fiscal 2015 1Q Q1 Fiscal 2015 Net Income versus Q1 Fiscal 2014 Net Income Average Q1 Fiscal 2015 Net Income Regulated Non Diluted (millions, except EPS) Distribution Pipeline Regulated TOTAL Shares EPS *…
  23. INVESTOR PRESENTATION – Atmos Energy – slide 23
    Segment Financial Results Fiscal 2015 1Q Regulated Distribution Key Drivers Quarter Ended 12/31 24.6M gross profit ( millions) 2014 2013 Change increase: Gross Profit 323.8 299.2 24.6 19.3M from rates, primarily in Texas and…
  24. INVESTOR PRESENTATION – Atmos Energy – slide 24
    Segment Financial Results Fiscal 2015 1Q Regulated Pipeline Quarter Ended 12/31 Key Drivers ( millions) 2014 2013 Change 12.3M gross profit increase from GRIP filing Gross Profit 83.6 71.3 12.3 that became effective May 2014…
  25. INVESTOR PRESENTATION – Atmos Energy – slide 25
    Consolidated Financial Results Fiscal 2015 1Q Capital Expenditures Spending Mix Q1 2015: 261.3 million Q1 2014: 180.6 million 32.7 22.4 13% 12% 23.6 14.4 9% 205.0 143.8 8% 78% 80% Safety & Reliability Customer…
  26. INVESTOR PRESENTATION – Atmos Energy – slide 26
    Key Regulatory Developments - Fiscal 2015 YTD Implemented Annual Increases in Operating Income from Rate Activity 14.0 10 Million Key Rates Implemented 12.0 Fiscal 2015 YTD 10.0 Kentucky PRP - 4.4M ( millions) 8.0…
  27. INVESTOR PRESENTATION – Atmos Energy – slide 27
    Key Regulatory Developments - Fiscal 2015 YTD Kentucky PRP Rate Filing: Final order issued on October 10, 2014, authorizing an increase in annual operating income of 4.4 million Authorized ROE of 9.80 percent Authorized capital…
  28. INVESTOR PRESENTATION – Atmos Energy – slide 28
    Key Regulatory Developments - Fiscal 2015 YTD West Texas Cities: Filed annual rate review mechanism (RRM), on December 1, 2014, requesting a net annual operating income increase of 5.0 million Authorized ROE of 10.50 percent; overall…
  29. INVESTOR PRESENTATION – Atmos Energy – slide 29
    Key Regulatory Developments - Fiscal 2015 YTD Mid-Tex City of Dallas Annual Rate Review- DARR : Filed case on January 15, 2015, requesting a net increase in annual operating income of 6.7 million Authorized ROE of 10.10 percent;…
  30. INVESTOR PRESENTATION – Atmos Energy – slide 30
    Key Regulatory Developments - Fiscal 2015 YTD Atmos Pipeline Texas: February 13, 2015, filed 2014 Gas Reliability Infrastructure Program (GRIP), seeking an increase in annual operating income of 37.2 million. Based on return,…
  31. INVESTOR PRESENTATION – Atmos Energy – slide 31
    Key Regulatory Developments - Fiscal 2015 YTD West Texas Cities of Amarillo/Lubbock/Dalhart/Channing: February 27, 2015, filed 2014 Gas Reliability Infrastructure Program (GRIP) seeking an increase in annual operating income of 4.6…
  32. INVESTOR PRESENTATION – Atmos Energy – slide 32
    Key Regulatory Developments - Fiscal 2015E Rate Filing Outlook Fiscal 2015E Q1 Q2 Q3 Q4 October December January March April June July September Kansas Issued GSRS for 0.3M Mid-Tex (Dallas) Filed Dallas Louisiana Anticipate LGS…
  33. INVESTOR PRESENTATION – Atmos Energy – slide 33
    Pending Regulatory Filings - Fiscal 2015 Mid-Tex Cities: Filed Rate Review Mechanism (RRM) on February 28, 2014, requesting a net increase in annual operating income of 34.9 million. Subsequently appealed a 33.4 million filing to the…
  34. INVESTOR PRESENTATION – Atmos Energy – slide 34
    Segment Financial Results Fiscal 2015 1Q Nonregulated Quarter Ended 12/31 Key Drivers ( millions) 2014 2013 Change Gas Delivery & Related Services 10.7 12.5 (1.8) 1.8M decrease in gas Storage and Transportation 3.3 3.5 (0.2) delivery…
  35. INVESTOR PRESENTATION – Atmos Energy – slide 35
    Regulated Operations Date of Authorized Requested Effective Last Rate Operating Operating Rate Base Requested Authorized Requested Authorized Requested Authorized Requested Texas thousands Rate Base Date of Last Filing Income Income…
  36. INVESTOR PRESENTATION – Atmos Energy – slide 36
    Regulated Operations (continued) Date of Authorized Requested Effective Date Last Rate Operating Operating Rate Base Requested Authorized Requested Authorized Requested Authorized Requested Remaining thousands of Last Rate Filing…

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