Third Quarter 2020 Earnings Summary October 29, 2020
Key Highlights: Constructive Quarter on Numerous Fronts Normalized EBITDA1 increased 23 percent versus the prior-year comparable quarter, reflecting strong execution. When adjusted for other one-time items that we do not normalize for,…
Key Highlights: Constructive Quarter on Numerous Fronts The Midstream platform added three notable long-term customers during and subsequent to the quarter, including ConocoPhillips, Canadian Natural Resources and a major global energy…
Q3 2020 Financial Results Summary 213MM 112MM 12MM 0.04 Normalized Normalized Normalized Normalized EBITDA1 FFO1 Net Income1 EPS1 1. Non-GAAP measure; see discussion in the advisories 5
Key Variances 6
Consolidated: Q3/20 vs. Q3/19 Strong Growth in Core Businesses Despite Ongoing COVID-19 Challenges Normalized EBITDA1 ( millions) 40 MM lost due to asset sales 19% Growth in Run-rate EBITDA2 21 29 10 3 213 192 17 173 162 Q3…
Utilities: Q3/20 vs. Q3/19 Growth in Core Utilities Business Underpinned by 2019 Rate Cases, ARP Spending and Lower G&A Normalized EBITDA1 ( millions) 40% Growth2 in Run-rate Utilities Assets 2 MM 21 5 lost due to 4 asset sale 16…
Midstream: Q3/20 vs. Q3/19 Normalized EBITDA1 ( millions) 11 MM Over 3% Growth2 in Core Midstream Assets lost due to asset sale 3 114 122 111 Q3 2019 Asset Q3 2019 Q3 2020 Midstream Actual Sales Run Rate Actual Central…
Corporate/Other: Q3/20 vs. Q3/19 Normalized EBITDA1 ( millions) 27 MM lost due to asset sales 36 10 19 9 Q3 2019 Asset Q3 2019 Q3 2020 Corporate Actual Sales Run Rate Actual Distributed Generation Power Canadian…
2020 Outlook Unchanged Strong Growth in Base Business Underpins 2020 Outlook 2020 Normalized EBITDA1 Guidance2 2020 Normalized EPS1 Guidance2 ( millions) (per share) 1,600 1.20 - 1.30 1,200 800 400 0 2020e 2020e…
2020 Normalized EBITDA1 Drivers Normalized 2020E EBITDA1 Growth Drivers 2020 Normalized Rate base growth through disciplined EBITDA1 Guidance2 investment in aging infrastructure ( millions) Achieving higher Returns On Equity…
2020 Disciplined Capital Allocation Strong Organic Growth Drives Robust Risk-adjusted Returns 900 million in top-quality projects drive earnings growth1 Corporate/ Other Capital Allocation Criteria: 4% Identified Projects:…
Investment Grade Credit Rating Business is Underpinned by 60% Utilities Business 10.1x Commitment to investment grade credit rating Regained financial flexibility and improving Debt/EBITDA metrics Improved 5.7x Debt / EBITDA…
AltaGas: Who We Are, Including Petrogas What We Do: We operate a diversified, low-risk, Who We Are: A leading North American energy high-growth Utilities and Midstream business Our Core infrastructure company that connects NGLs and…
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