Second quarter 2019 conference call August 1, 2019
Second quarter 2019 conference call Nathan Brown, President Janine Watson, VP and General Manager Chuck Morris, Principal Financial Officer Rhonda Amundson, Investor Relations
Forward looking information and nonGAAP measures This presentation may include forwardlooking statements regarding future events and the future financial performance of TC PipeLines, LP. Words such as believes, expects, intends,…
Second quarter highlights Net income attributable to controlling interests of 55 million EBITDA of 99 million Distributable cash flow of 70 million Cash distributions of 47 million Declared cash distribution of 0.65 per common unit…
Commercial update Continued solid performance from our portfolio of assets Revenues lower at GTN due to scheduled rate decrease in settlement agreement partially offset by continued strong contracting on GTN from higher flows out of…
Key focus areas and future opportunities Execution of nearterm growth program Portland and Westbrook XPress continue to advance Positioned to fund future growth and maintain our credit metrics Securing the next wave of growth…
Second quarter 2019 financial results (unaudited, millions of dollars except per common unit amounts) Three months ended 30June 2019 2018 Net income 57 75 Net income attributable to controlling interests 55 73 Net income per common…
Second quarter 2019 financial results (unaudited, millions of dollars) Three months ended 30June 2019 2018 Transmission revenues 93 111 Equity earnings 30 36 Operating, maintenance and administrative (25) (25) Depreciation (19)…
Solid financial position Investor Focus Action Solid capital structure indicative of quality assets within portfolio Stronger balance sheet Recently upgraded to BBB/Stable by S&P Reduced debt by 115 million in 2019 yeartodate…
TC PipeLines, LP Key takeaways Confident that our high quality assets will generate strong cash flows EBITDA derived from stable assets substantially backed by longterm, shiporpay contracts Strong competitive position Healthy balance…
Question & answer period Nathan Brown Janine Watson Chuck Morris Rhonda Amundson President VP and General Manager Principal Financial Officer Investor Relations
Second quarter 2019 conference call August 1, 2019
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