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Q2 2015 – Agl Resources Inc.

Agl Resources Inc. · Jul 29, 2015 · 22 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 – Agl Resources Inc. – slide 1
    Second Quarter 2015 Earnings Presentation July 29, 2015
  2. Q2 2015 – Agl Resources Inc. – slide 2
    2Q15 results in line with improved guidance Solid second quarter results in line with management expectations Consolidated 2Q15 EPS of 0.35 and 1H15 EPS of 1.96; remain on track to achieve 2.85-3.10 per share guidance for…
  3. Q2 2015 – Agl Resources Inc. – slide 3
    EPS from Continuing Operations 3.50 3.29 3.00 Consolidated 2.50 1.96 2.00 1.72 1.67 1.64 Excluding Wholesale 1.50 1.50 1.00 0.50 Excluding wholesale, weather-normalized (1) - 6-mos 2015 6-mos 2014 (1) Normalized for…
  4. Q2 2015 – Agl Resources Inc. – slide 4
    2Q15 Financial Performance Strong 2Q15 operational Favorable / performance; 27% EPS year-over- in millions, except per share amounts 2Q15 2Q14 (Unfavorable) year decline driven by exceptional Total Operating Revenues 674 889…
  5. Q2 2015 – Agl Resources Inc. – slide 5
    6-Months 2015 Financial Performance Strong 1H15 operational 6-mos 6-mos Favorable / performance; 40% EPS year-over- in millions, except per share amounts 2015 2014 (Unfavorable) year decline driven by record Total Operating…
  6. Q2 2015 – Agl Resources Inc. – slide 6
    Distribution Operations 2Q15 Financial Performance Summary Favorable/ 2Q15 reported EBIT down 4% vs. 2Q14 in millions 2Q15 2Q14 (Unfavorable) Total Operating Revenues 546 699 (22)% Weather-normalized EBIT down 2% for Operating…
  7. Q2 2015 – Agl Resources Inc. – slide 7
    Retail Operations 2Q15 Financial Performance Summary Favorable/ 2Q15 reported EBIT in line with 2Q14 in millions 2Q15 2Q14 (Unfavorable) Total Operating Revenues 153 177 (14)% Weather-normalized EBIT higher by Operating Margin…
  8. Q2 2015 – Agl Resources Inc. – slide 8
    Wholesale Services 2Q15 Financial Performance Summary Favorable/ 2Q15 performance strong, despite year- in millions 2Q15 2Q14 (Unfavorable) over-year decline (record 2Q14) Total Operating Revenues 4 47 (91)% 2Q15 commercial…
  9. Q2 2015 – Agl Resources Inc. – slide 9
    Midstream Operations 2Q15 Financial Performance Summary Favorable/ 2Q15 EBIT improvement of 5 million in millions 2Q15 2Q14 (Unfavorable) vs. 2Q14 and YTD EBIT improvement of Total Operating Revenues 11 17 (35)% 6 million driven…
  10. Q2 2015 – Agl Resources Inc. – slide 10
    Balance Sheet Highlights Solid balance sheet with significant opportunity to fund capital requirements in millions 6/30/15 6/30/14 Change Assets 4.0 billion debt outstanding Cash & Receivables 854 1,268 (414) Long-term debt: 3.6…
  11. Q2 2015 – Agl Resources Inc. – slide 11
    Utilities Update Illinois: Capital investment under the Investing in Illinois infrastructure replacement program running ahead of schedule with approximately 75 million deployed to improve system safety and reliability Georgia:…
  12. Q2 2015 – Agl Resources Inc. – slide 12
    Pipeline Investments Update Pipeline investments currently on schedule and on budget Dalton: FERC application was filed in March; Design, surveys and land acquisition underway PennEast: Partners expect to file with FERC later this…
  13. Q2 2015 – Agl Resources Inc. – slide 13
    Key takeaways 1 2 3 Strong first half of 2015 driven AGL Resources remains on track Executing on capital investment by infrastructure investment, to achieve 2015 consolidated plan that is expected to customer growth,…
  14. Q2 2015 – Agl Resources Inc. – slide 14
    Appendix 15
  15. Q2 2015 – Agl Resources Inc. – slide 15
    PRP True-Up Filing in Georgia True-up filing made in February in accordance with Georgia Public Service Commission orders PRP allowed for the replacement of 2,700+ miles of bare steel and cast iron pipe and over 45,000 bare steel…
  16. Q2 2015 – Agl Resources Inc. – slide 16
    Wholesale Services - Economic Earnings Economic earnings adjusts wholesale services EBIT for mark-to-market accounting recorded during the current period, offset by mark-to-market accounting adjustments reported in prior periods…
  17. Q2 2015 – Agl Resources Inc. – slide 17
    GAAP Reconciliations Three months ended Six months ended June 30, June 30, In Millions 2015 2014 2015 2014 Operating revenues 674 889 2,395 3,351 Cost of goods sold (222) (402) (1,157) (1,802) Revenue tax expense (18) (25) (73)…
  18. Q2 2015 – Agl Resources Inc. – slide 18
    GAAP Reconciliations 2Q15 Distribution Retail Wholesale Midstream Other Intercompany Consolidated In millions operations operations services operations segments eliminations AGL Resources Total operating revenues 546 153 4 11 3…
  19. Q2 2015 – Agl Resources Inc. – slide 19
    GAAP Reconciliations 2Q14 Distribution Retail Wholesale Midstream Other Intercompany Consolidated In millions operations operations services operations segments eliminations AGL Resources Total operating revenues 699 177 47 17 1…
  20. Q2 2015 – Agl Resources Inc. – slide 20
    GAAP Reconciliations 6-mos 2015 Distribution Retail Wholesale Midstream Other Intercompany Consolidated In millions operations operations services operations segments eliminations AGL Resources Total operating revenues 1,887 494…
  21. Q2 2015 – Agl Resources Inc. – slide 21
    GAAP Reconciliations 6-mos 2014 Distribution Retail Wholesale Midstream Other Intercompany Consolidated In millions operations operations services operations segments eliminations AGL Resources Total operating revenues 2,500 583…
  22. Q2 2015 – Agl Resources Inc. – slide 22
    GAAP Reconciliations Three months ended June 30, Six months ended June 30, 2013 2015 2014 2015 2014 Diluted earnings per share consolidated 0.35 0.49 1.96 2.87 Less: Wholesale services (per share) (0.04) 0.12 0.24 1.62 Less:…

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