Third quarter 2019 conference call November 7, 2019
Third 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,…
Third quarter highlights Net income attributable to controlling interests of 56 million EBITDA of 100 million Distributable cash flow of 78 million Cash distributions of 47 million Declared cash distribution of 0.65 per common unit…
GTN XPress project Approximately 335 million horsepower replacement and reliability program, together with incremental brownfield compression facilities at existing stations Three quarters of the total cost relates to the reliability…
Commercial update Continued solid performance from our portfolio of assets Revenues strong at GTN due to robust contracting Will continue to experience higher flows out of Canada PNGTS benefited from higher discretionary sales due to…
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 Two new projects, GTN XPress and Tuscarora…
Third quarter 2019 financial results (unaudited, millions of dollars except per common unit amounts) Three months ended 30Sept 2019 2018 Net income 59 65 Net income attributable to controlling interests 56 62 Net income per common…
Third quarter 2019 financial results (unaudited, millions of dollars) Three months ended 30Sept 2019 2018 Transmission revenues 93 103 Equity earnings 31 34 Operating, maintenance and administrative (26) (24) Depreciation (19)…
Solid financial position Investor Focus Action Solid capital structure indicative of quality assets within portfolio Strong balance sheet Recently upgraded to BBB/Stable by S&P Reduced debt by 115 million in 2019 yeartodate Selffunding…
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 Capital…
Question & answer period Nathan Brown Janine Watson Chuck Morris Rhonda Amundson President VP and General Manager Principal Financial Officer Investor Relations
Third quarter 2019 conference call November 7, 2019
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