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Q1 2015 Earnings Call – Nuverra Environmental Solutions

Nuverra Environmental Solutions · May 11, 2015 · 16 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. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 1
    NES Q1 2015 Financial Results May 11, 2015
  2. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 2
    Corporate Participants and Call Information Mark Johnsrud Greg Heinlein Chief Executive Executive Vice Officer and President and Chief Chairman of the Financial Officer Board Call Information To access a replay of todays…
  3. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 3
    Industry Themes U.S. land rig count down more than 50% to 868 at May 1 Oil-rich basins hardest hit, driving declines in drilling and completion activities Rig declines in gas-rich basins less severe Change in rig count since…
  4. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 4
    Q1 2015 Results Revenue M Free Cash Flow Revenue 160.0 Q1 revenue 119.1M, 128.0 120.0 119.1 down 7.0% over Q1 2014 Revenue pressure due to 80.0 30.6 downturn in oil prices and 30 moderate service pricing 40.0 -6.6M…
  5. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 5
    Q1 2015 Rocky Mountain Division Highlights Year-over-Year Revenue M Adj. EBITDA Margin % 100.0 30.0% 81.9 26.5% 26.4% 80.0 69.4 24.0% 60.0 18.0% 40.0 12.0% 20.0 6.0% - 0.0% Q1 2014 Q1 2015 Q1 2014 Q1 2015 Bakken Water…
  6. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 6
    Q1 2015 Southern Division Highlights Year-over-Year Revenue M Adj. EBITDA Margin % 60.0 12.0% 10.3% 9.0% 40.0 5.7% 26.9 6.0% 22.4 20.0 3.0% - 0.0% Q1 2014 Q1 2015 Q1 2014 Q1 2015 Revenue decline of 16.9% due primarily…
  7. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 7
    Q1 2015 Northeast Division Highlights Year-over-Year Revenue M Adj. EBITDA Margin % 60.0 16.0% 13.8% 12.0% 40.0 7.9% 27.3 8.0% 19.2 20.0 4.0% - 0.0% Q1 2014 Q1 2015 Q1 2014 Q1 2015 Q1 revenue increased 42.4%…
  8. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 8
    Q1 2015 Highlights Three Months Ended (millions) March 31, 2015 2014 Revenue 119.1 128.0 Pre-tax Operating Income from Continuing Operations 0.2 -5.1 Net Loss from Continuing Operations -12.0 -11.9 Adjusted EBITDA from continuing…
  9. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 9
    Liquidity and Debt Liquidity Net cash provided by operating activities from continuing operations of 34.8M, compared with (373,000) at March 31, 2014 Increase primarily due to improvements in collections and lower capex spend DSO…
  10. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 10
    2015 Financial Initiatives Progress & Guidance Full-year cost savings increase of 10M to 30-35M, up from 20-25M First quarter achieved 14.2M savings (10.7% reduction) 3.0M payroll and related expenses 8% headcount reduction 5.6M…
  11. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 11
    Conclusion Q1 2015 efficiency initiatives Contributed to 10.7% reduction in operating expenses 34.8M in cash flow from continuing operations and 30.6M in free cash flow Q2 2015 continues to be challenging U.S. drilling activity…
  12. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 12
    Q&A
  13. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 13
    We put our energy behind sustainability.
  14. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 14
    Appendix
  15. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 15
    Summary Pro Forma Combined Financial Data Revenue Adjusted EBITDA 700 125 101 600 526 536 527 95 95 100 500 75 400 Smm mm 300 50 200 25 100 - - 2013 2014 2015 LTM 2013 2014 2015 LTM Net Cash Capital Expenditures…
  16. Q1 2015 Earnings Call – Nuverra Environmental Solutions – slide 16
    Adjusted EBITDA from Continuing Operations Reconciliation (Unaudited) Three Months Ended March 31, 2015 2014 Loss from continuing operations (11,995) (11,914) Depreciation of property, plant and equipment 16,771 16,607 Amortization…

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