Enable Midstream Partners, LP First Quarter 2019 Conference Call May 1, 2019
Enable First Quarter 2019 Highlights Higher quarterly revenues, gross margin, net income, Adjusted EBITDA and distributable cash flow (DCF) compared to the first quarter of 2018 Higher natural gas gathered, natural gas processed,…
Commercial Highlights Gathering and Processing Transportation and Storage Rig activity remains strong around Enables gathering Contracted or extended over 1 million Dth/d of footprint with 52 rigs1 currently drilling wells expected…
Market-Leading Anadarko Basin Position Strategically-Advantaged Footprint Supports Growth from Top-Tier Producers Dedicated Rigs Other Rigs Dedicated Acreage 1 in Processing Capacity in the SCOOP and STACK1 39% of rigs running in…
Operational and Financial Results
Operational Performance Overview Natural gas gathered volumes increased for first quarter 2019 compared to first quarter 2018 primarily as a result of higher gathered volumes in the Anadarko Basin Natural gas processed volumes…
Financial Results Financial Results Quarter over Quarter Q1-19 Q1-18 % Change in millions, except per-unit and ratio data Total Revenues 795 748 6% Gross Margin1 417 373 12% Net Income Attributable to Limited Partners 122 114…
Proven Track Record with Upside Potential Compelling Valuation Attractive Yield Strong Balance Sheet 10.9x 9.5x 9.1% 7.9% 5.10x 3.94x 3 EV / 2019 Adjusted EBITDA 1 Distribution Yield 2 Debt / Adjusted EBITDA 4 ENBL ANGI…
Question and Answer Question and Answer
Appendix Appendix
Gulf Run Pipeline Gulf Run Project1 The Gulf Run Pipeline, backed by cornerstone shipper Golden Pass LNG, will provide access to some of the most prolific natural gas producing regions in the U.S. Enable continues to pursue…
2019 Outlook 2019 outlook provided Nov. 7, 2018, reaffirmed May 1, 2019 2019 Financial Outlook 2019 Gross Margin Profile3 in millions 96% Fee- Net Income Attributable to Common Units 435 505 Based or 4% Volume Dependent Interest…
Derivative Activity and Price Sensitivities Derivative Activity ( in millions) Hedging Summary3 Three Months Ended Commodity 2019 2020 March 31 Natural Gas (NYMEX) 2019 2018 Exposure Hedged (%) 58% 6% Gain (Loss) on Derivative…
Enable Unit Price Appreciation Potential EV / EBITDA +25% Potential Uplift Current EBITDA Potential ENBL Unit Multiple Unit Price in Millions Price Uplift Uplift 1 2019 Adjusted EBITDA 1,135 0 1,135 EBITDA Multiple 9.5x 1.4x 10.9x…
Consolidated Statements of Income Three Months Ended March 31, 2019 2018 (In millions, except per unit data) Revenues (including revenues from affiliates): Product sales 443 443 Service revenue 352 305 Total Revenues 795 748 Cost…
2019 Forward Looking Non-GAAP Reconciliation 2019 Outlook (In millions) Reconciliation of Adjusted EBITDA and distributable cash flow to net income attributable to limited partners and calculation of Distribution coverage ratio: Net…
2019 Forward Looking Non-GAAP Reconciliation Continued 2019 Outlook (In millions) Reconciliation of Adjusted interest expense to Interest expense: Interest expense, net of interest income 190 - 210 Amortization of premium on…
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