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3Q 2018 Earnings – Semgroup Corporation

Semgroup Corporation · Nov 8, 2018 · 18 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. 3Q 2018 Earnings – Semgroup Corporation – slide 1
    November 8, 2018 Third Quarter 2018 Results Earnings Conference Call
  2. 3Q 2018 Earnings – Semgroup Corporation – slide 2
    Third Quarter 2018 Results Continued Execution of Strategic Transformation Focused on Strengthening Balance Sheet and Completing High-Return Projects Secure Cash Flows Drive Quality Earnings Nearly 60% of gross margin supported by…
  3. 3Q 2018 Earnings – Semgroup Corporation – slide 3
    Third Quarter 2018 Results Third Quarter 2018 Results 1Q18 2Q18 3Q18 YTD ( in millions, except per share) Net Income (loss) (33.0) (2.7) 8.4 (27.3) Adjusted EBITDA 93.4 99.0 96.4 288.8 Cash Available for Dividends 51.3 50.6…
  4. 3Q 2018 Earnings – Semgroup Corporation – slide 4
    Third Quarter 2018 Results Segment Profit 1Q18 2Q18 3Q18 YTD ( in millions) Crude Transportation 34.3 37.9 38.1 110.3 Crude Facilities 9.3 9.7 8.2 27.2 Crude Supply and Logistics (6.6) (2.0) (7.0) (15.6) HFOTCO 31.0 34.8 36.2…
  5. 3Q 2018 Earnings – Semgroup Corporation – slide 5
    Third Quarter 2018 Results Narrowing 2018 Adjusted EBITDA Guidance Continuing Portfolio Transformation through 2018 for Long-Term Financial Strength 8% ( in millions) of 1 2018 Adjusted EBITDA 385 - 400 R AG 8C 201 385 -…
  6. 3Q 2018 Earnings – Semgroup Corporation – slide 6
    Third Quarter 2018 Results Updated 2018 Capital Expenditures Guidance 2018 Capex Guidance - 360 million Total Capital Expenditures Spending by Strategic Area 492 ( in millions) 360 307 447 Canada 203 50 255 320…
  7. 3Q 2018 Earnings – Semgroup Corporation – slide 7
    Third Quarter 2018 Results Driving Shareholder Value Delivering Transforming Executing Shareholder Portfolio Opportunities Value 2018 Execution as Promised: 1st Quarter Executed preferred equity raise Completed sale of…
  8. 3Q 2018 Earnings – Semgroup Corporation – slide 8
    Appendix
  9. 3Q 2018 Earnings – Semgroup Corporation – slide 9
    Third Quarter 2018 Results Leverage and Liquidity 9/30/2018 ( in millions, unaudited) SemGroup (B2 / B+) Pro Forma metrics reflect Maurepas sale Pro Forma Revolving Credit Facility - 1.0 Billion due 2021 110 proceeds of 350…
  10. 3Q 2018 Earnings – Semgroup Corporation – slide 10
    Third Quarter 2018 Results Operational Summary 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 Crude Transportation Transportation Volumes (mbbl/d) 179 182 190 193 182 188 182 White Cliffs Pipeline Volumes (mbbl/d) 111 107 105 92 107 135 112…
  11. 3Q 2018 Earnings – Semgroup Corporation – slide 11
    Third Quarter 2018 Results Consolidated Balance Sheets (in thousands, unaudited, condensed) September 30, December 31, 2018 2017 ASSETS Current assets 801,099 902,899 Property, plant and equipment, net 3,450,756 3,315,131…
  12. 3Q 2018 Earnings – Semgroup Corporation – slide 12
    Third Quarter 2018 Results Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands, except per share amounts, unaudited, condensed) 2018 2017 Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY2017 Revenues 661,609 595,794…
  13. 3Q 2018 Earnings – Semgroup Corporation – slide 13
    Third Quarter 2018 Results Non-GAAP Adjusted EBITDA Calculation (in thousands, unaudited) 2018 2017 Reconciliation of net income to Adjusted EBITDA: Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY2017 Net income (loss) (33,035) (2,726) 8,461 (27,300)…
  14. 3Q 2018 Earnings – Semgroup Corporation – slide 14
    Third Quarter 2018 Results Segment Profit and Adjusted EBITDA (in thousands, unaudited) 2018 2017 Segment Profit: Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY2017 Crude Transportation 34,310 37,865 38,135 110,310 28,251 29,028 34,585 41,641…
  15. 3Q 2018 Earnings – Semgroup Corporation – slide 15
    Third Quarter 2018 Results Non-GAAP Adjusted EBITDA Calculation (in thousands, unaudited) 2016 Reconciliation of net income to Adjusted EBITDA: Q1 Q2 Q3 Q4 FY2016 Net income (loss) (4,893) 10,787 (4,632) 12,000 13,262 Add:…
  16. 3Q 2018 Earnings – Semgroup Corporation – slide 16
    Third Quarter 2018 Results Reconciliation of Operating Income to Total Segment Profit (in thousands, unaudited) 2018 2017 Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY2017 Operating income (loss) 34,853 31,346 39,699 105,898 23,389 25,202 (27,778)…
  17. 3Q 2018 Earnings – Semgroup Corporation – slide 17
    Third Quarter 2018 Results Cash Available for Dividends (in thousands, unaudited) 2018 2017 Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY2017 Adjusted EBITDA 93,371 99,010 96,451 288,832 60,667 65,410 90,733 111,493 328,303 Less: Cash interest…
  18. 3Q 2018 Earnings – Semgroup Corporation – slide 18
    Third Quarter 2018 Results Reconciliation of Adjusted EBITDA to Pro Forma Consolidated Leverage EBITDA (in millions, unaudited) Adjusted EBITDA 3Q18 96.4 2Q18 99.0 1Q18 93.4 4Q17 111.5 LTM Adjusted EBITDA 400.3 Adjustments…

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