Q4 2008 Earnings Call – Tesoro Corporation

Tesoro Corporation · Feb 20, 2008 · 8 slides

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Agenda 4Q 2008 Earnings February 20, 2008
1Q 2009 Guidance Pacific Mid- Mid- Northwest Pacific Continent California Throughput (mbpd) 110-120 65-75 95-105 250-260 Opex (/bbl) 5.00 2.90 3.45 7.20 in millions, unless noted Corporate/System Refining Depreciation 85…
Net Income in millions Net Income /share EPS (Diluted) 259 1.86 97 0.70 4 0.03 (0.60) (82) 1Q 2008 2Q 2008 3Q 2008 4Q 2008 1Q 2008 2Q 2008 3Q 2008 4Q 2008 in millions, except per share amounts 1Q 2008 2Q 2008 3Q 2008 4Q…
4Q 2008 Segment Operating Income Bridge in millions 510 (174) (76) (36) (20) 204 3Q 2008 Market LIFO Impact Wholesale and Other 4Q 2008 Environment Retail Marketing 5
2008 Cash Flow in millions 779 (650) Asset Sales 40 Operating Cash Flow 716 (56) (53) Beginning Cash 20 23 Available Cash Capex Revolver and Dividend and Ending Cash Debt Repayment Other 6
4Q 2008 Gross Margin Reconciliation Reported Gross Revised Gross /bbl, unless noted Margin LIFO Hedge* Margin** California WC 3-2-1*** 11.03 11.03 Capture Rate**** 124% 85% Gross Margin 13.66 1.66 2.64 9.36 Pacific Northwest PNW…
Throughput By Refining Region Pacific Northwest Mid-Pacific MBPD 180 MBPD 180 90 160 80 150 74 138 140 70 66 65 120 60 100 50 4Q 2007 4Q 2008 Guidance 4Q 2008 Actual 4Q 2007 4Q 2008 Guidance 4Q 2008 Actual…
Operating Expense By Refining Region Pacific Northwest Mid-Pacific /bbl /bbl 5.00 4.00 3.75 4.50 3.52 4.19 3.50 4.05 4.00 3.25 3.55 3.00 2.90 2.85 3.50 2.75 3.00 2.50 4Q 2007 4Q 2008 Guidance 4Q 2008 Actual 4Q 2007 4Q…