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Q2 2015 Earnings Call – Atmos Energy

Atmos Energy · May 7, 2015 · 28 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. Q2 2015 Earnings Call – Atmos Energy – slide 1
    Analysts Call to Review Fiscal 2015 Second Quarter Financial Results May 7, 2015 10:00 a.m. Eastern
  2. Q2 2015 Earnings Call – Atmos Energy – slide 2
    Consolidated Financial Results Fiscal 2015 2Q Q2 Fiscal 2015 Net Income versus Q2 Fiscal 2014 Net Income Average Q2 Fiscal 2015 Net Income Regulated Non Diluted (millions, except EPS) Distribution Pipeline Regulated TOTAL Shares EPS *…
  3. Q2 2015 Earnings Call – Atmos Energy – slide 3
    Consolidated Financial Results Fiscal YTD YTD Fiscal 2015 Net Income versus YTD Fiscal 2014 Net Income Average Fiscal YTD 2015 Net Income Regulated Non Diluted (millions, except EPS) Distribution Pipeline Regulated TOTAL Shares EPS *…
  4. Q2 2015 Earnings Call – Atmos Energy – slide 4
    Segment Financial Results Fiscal 2015 Q2 Regulated Distribution Key Drivers Quarter Ended 3/31 QTD 2015 2014 Change 21.0M gross profit increase: ( millions) 26.1M net increase in rate adjustments Gross Profit 406.2 385.2 21.0 1.2M…
  5. Q2 2015 Earnings Call – Atmos Energy – slide 5
    Segment Financial Results Fiscal 2015 Q2 Regulated Pipeline Quarter Ended 3/31 Key Drivers QTD ( millions) 2015 2014 Change 18.1M gross profit increase: 15.3M increase in rates from the GRIP filings approved in 2014 & 2015 Gross…
  6. Q2 2015 Earnings Call – Atmos Energy – slide 6
    Consolidated Financial Results Fiscal 2015 Capital Expenditures Spending Mix YTD 2015: 441.6 million YTD 2014: 359.0 million 55.6 39.5 13% 11% 39.2 34.1 9% 10% 346.8 285.4 78% 79% Safety & Reliability Customer Expansion…
  7. Q2 2015 Earnings Call – Atmos Energy – slide 7
    Key Regulatory Developments - Fiscal 2015 YTD Implemented Annual Increases in Operating Income from Rate Activity 70.0 59 Million Key Rates Implemented 60.0 Fiscal 2015 YTD 50.0 APT GRIP - 37.2M ( millions) 40.0 Mississippi…
  8. Q2 2015 Earnings Call – Atmos Energy – slide 8
    Key Regulatory Developments - Fiscal 2015 YTD 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…
  9. Q2 2015 Earnings Call – Atmos Energy – slide 9
    Key Regulatory Developments - Fiscal 2015 YTD Atmos Pipeline Texas: 2014 Gas Reliability Infrastructure Program (GRIP) filing approved on April 8, 2015, providing an annual operating income increase of 37.2 million. Based on return,…
  10. Q2 2015 Earnings Call – Atmos Energy – slide 10
    Key Regulatory Developments - Fiscal 2015 YTD West Texas Cities: Settled annual Rate Review Mechanism (RRM), on March 15, 2015, granting an annual operating income increase of 4.3 million Authorized ROE of 10.50 percent; overall…
  11. Q2 2015 Earnings Call – Atmos Energy – slide 11
    Key Regulatory Developments - Fiscal 2015 YTD Tennessee Rate Filing: Filed rate case on November 25, 2014, to define parameters necessary to utilize an annual mechanism. February 16, 2015, filed the annual mechanism. Additionally,…
  12. Q2 2015 Earnings Call – Atmos Energy – slide 12
    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;…
  13. Q2 2015 Earnings Call – Atmos Energy – slide 13
    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 Colorado Anticipate filing rate…
  14. Q2 2015 Earnings Call – Atmos Energy – slide 14
    Segment Financial Results Fiscal 2015 Q2 Nonregulated Operations Quarter Ended 3/31 Key Drivers ( millions) 2015 2014 Change Gas Delivery & Related Services 17.9 12.5 5.4 5.4M increase in gas Storage/Transportation 3.3 3.7 (0.4)…
  15. Q2 2015 Earnings Call – Atmos Energy – slide 15
    Segment Financial Results Fiscal 2015 YTD Nonregulated Operations Six Months Ended 3/31 Key Drivers ( millions) 2015 2014 Change Gas Delivery & Related Services 28.6 24.9 3.7 3.7M increase in gas Storage/Transportation 6.7 7.2 (0.5)…
  16. Q2 2015 Earnings Call – Atmos Energy – slide 16
    Consolidated Financial Results Fiscal 2015 YTD Long-Term Debt Maturity and Liquidity Profile Debt Maturity as of Liquidity Profile as of March 31, 2015 March 31, 2015 millions millions 1,760 1,500 95.5 1,800 1.2 billion 75.0…
  17. Q2 2015 Earnings Call – Atmos Energy – slide 17
    Consolidated Earnings Guidance Fiscal 2015E* 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)…
  18. Q2 2015 Earnings Call – Atmos Energy – slide 18
    Consolidated Capital ExpendituresFiscal 2015E Consolidated 2015E Capital Expenditures of 900 million - 1 billion 91% Fiscal 2015E CAPEX begins to earn a return within 6 months from end of test year ( millions) 1,200 1,100 Safety &…
  19. Q2 2015 Earnings Call – Atmos Energy – slide 19
    Consolidated Financial Results Fiscal 2015E 31 Consecutive Years of Dividend Increases 1.60 1.56E Quarterly Dividend On May 6, 2015, the 1.40 Board of Directors declared a quarterly 1.20 dividend of 0.39 per share 1.00 126th…
  20. Q2 2015 Earnings Call – Atmos Energy – slide 20
    Appendix 21
  21. Q2 2015 Earnings Call – Atmos Energy – slide 21
    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%…
  22. Q2 2015 Earnings Call – Atmos Energy – slide 22
    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…
  23. Q2 2015 Earnings Call – Atmos Energy – slide 23
    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…
  24. Q2 2015 Earnings Call – Atmos Energy – slide 24
    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,…
  25. Q2 2015 Earnings Call – Atmos Energy – slide 25
    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…
  26. Q2 2015 Earnings Call – Atmos Energy – slide 26
    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…
  27. Q2 2015 Earnings Call – Atmos Energy – slide 27
    Regulated Operations Effective Date of Authorized Requested Date of Last Rate Operating Operating Rate Base Requested Authorized Requested Authorized Requested Authorized Requested Texas thousands Rate Base Last Rate Filing Income…
  28. Q2 2015 Earnings Call – Atmos Energy – slide 28
    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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