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3Q 2018 Earnings Presentation – Exterran Corporation

Exterran Corporation · Nov 6, 2018 · 21 slides

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Slides

  1. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 1
    Photo courtesy of Marathon Petroleum Corporation Exterran Corporation 3Q18 Earnings Presentation 2018 Exterran Corporation. All rights reserved. www.exterran.com
  2. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 2
    Forward Looking Statements All statements in this presentation (and oral statements made regarding the subjects of this presentation) other than historical facts are forward looking statements within the meaning of Section 21E of the…
  3. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 3
    3Q 2018 Financial Highlights EBITDA, as adjusted(1) of 52 million, with EBITDA, as adjusted margin of 15.6% Exterran Contract Operations (ECO) backlog at 1.4 billion flat versus 2Q18. Book to bill within Product Sales was over…
  4. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 4
    3Q 2018 Key Operational Highlights Orders Drive Backlog Project Execution EWS Pilot Results Higher Large ECO project Completed pilot for large ECO orders for the year is announced in 2017 in NAM E&P in the Permian now over 300…
  5. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 5
    3Q 2018 Revenue Mix Revenue by Segment Revenue by Geomarket Asia Pacific Contract 4% Operations Middle East 25% and Africa 13% Latin America North America Aftermarket Product Sales 19% 64% 9% 66% 2Q 2018 3Q 2018 Seq…
  6. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 6
    Strategic Priorities Execute recent large ECO wins Focus on our cost out and productivity measures Develop pipeline to grow water portfolio Concentrate efforts on full integration of product suite Continue to drive…
  7. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 7
    Macro Overview
  8. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 8
    North America The U.S. remains one of our most robust market given the demand for compression and processing and treating facilities. Lead times for key components remain inflated, customers planning for 2020 and beyond.…
  9. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 9
    Latin America Argentina - Vaca Muerta starting to show signs of bid awards and investment beginning. Brazil IOC Investments are a leading indicator for future growth. Bolivia interregional gas agreements and field developments…
  10. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 10
    Middle East/ Africa Robust region for EXTN with most large capital growth opportunities internationally. Oman demand across product lines strong, including EWS. Kuwait large opportunities on the horizon driven by continued…
  11. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 11
    Asia Pacific FPSO market is showing signs of resurgence. Singapore facility provides advantage for upcoming AMS opportunities, specifically around FPSO upgrades. LNG demand in the region could prove to be large longer-term…
  12. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 12
    Financial Overview
  13. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 13
    Exterran Contract Operations (ECO) Revenue (MM) Gross Margin(1) (MM) and Margin (%) 67% 64% 64% 63% 65% 93 95 96 91 85 59 61 61 59 57 3Q 2017 4Q 2017 1Q 2018 2Q 2018 3Q 2018 3Q 2017 4Q 2017 1Q 2018 2Q 2018 3Q 2018 Revenue…
  14. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 14
    Aftermarket Services (AMS) Revenue (MM) Gross Margin(1) (MM) and Margin (%) 28% 26% 26% 27% 26% 30 30 26 32 30 8 8 7 9 8 3Q 2017 4Q 2017 1Q 2018 2Q 2018 3Q 2018 3Q 2017 4Q 2017 1Q 2018 2Q 2018 3Q 2018 Revenue was down 7%…
  15. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 15
    Product Sales Revenue (MM) Gross Margin(1) (MM) and Margin (%) 14% 13% 12% 12% 11% 192 212 228 220 220 21 24 27 28 32 3Q 2017 4Q 2017 1Q 2018 2Q 2018 3Q 2018 3Q 2017 4Q 2017 1Q 2018 2Q 2018 3Q 2018 Revenue was flat…
  16. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 16
    Debt and Liquidity Liquidity Summary Debt Maturity Schedule (MM) 375 Revolving Credit Facility due September 30, October 2023* In Millions 2018 8.125% Sr. Notes due May Revolving Credit Facility Capacity* 700 2025 Borrowings…
  17. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 17
    4Q 2018 Outlook 4Q18 Contract Operations 4Q18 Aftermarket 4Q18 Product Sales Revenue in the high 80 Revenue in the high 20 Revenue relatively flat million range million range sequentially Gross margin in the mid Gross margin in…
  18. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 18
    Appendix
  19. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 19
    Non-GAAP Financial Measures Exterran Corporation: EBITDA, as adjusted, a non-GAAP measure, is defined as net income (loss) excluding income (loss) from discontinued operations (net of tax), cumulative effect of accounting changes (net…
  20. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 20
    Non-GAAP Financial Measures EBITDA, as adjusted and EBITDA, as adjusted Margin Reconciliation ( in thousands) Q3-18 Net income 5,369 Income from discontinued operations, net of tax (2,173) Depreciation and amortization 31,108…
  21. 3Q 2018 Earnings Presentation – Exterran Corporation – slide 21
    Non-GAAP Financial Measures Gross Margin Reconciliation ( in thousands) Q3-17 Q2-18 Q3-18 Income before income taxes 9,577 8,153 11,150 Selling, general and administrative 42,880 44,382 45,103 Depreciation and amortization 27,010…

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