Questar Corporation A Rockies-based integrated natural gas company offering growth and high returns Making lives better by developing and delivering essential energy Fourth Quarter 2013 Earnings Release February 20, 2014 1
KEVIN HADLOCK Executive Vice President & Chief Financial Officer Questar Corporation 3
FY 2013 Financial Highlights Reported FY 2013 adjusted earnings of 213.6 million, or 1.21 per diluted share versus net income of 212.0 million, or 1.19 per diluted share for FY 2012 - On GAAP basis, reported FY 2013 net income of…
Net Income (Loss) millions (except earnings per share) FY 2013 FY 2012 Change Questar Gas 52.8 47.1 5.7 Wexpro 110.6 103.9 6.7 Questar Pipeline 60.6 64.7 (4.1) Corporate and other (10.4) (3.7) (6.7) Adjusted earnings 213.6 212.0 1.6…
Questar Gas Results millions FY 2013 FY 2012 Change Gross margin 335.2 328.9 6.3 Adjusted EBITDA 156.7 148.0 8.7 Net income 52.8 47.1 5.7 Capital investment 166.2 162.1 4.1 Total Rate Base 1,042.1 959.3 82.8 FY 2013 gross margin…
Wexpro Results millions FY 2013 FY 2012 Change Adjusted EBITDA 258.7 236.1 22.6 Net income 110.6 103.9 6.7 TTM average investment base 547.7 514.3 33.4 Capital investment 249.5 144.5 105.0 FY 2013 Adjusted EBITDA was 258.7…
Questar Pipeline Results millions FY 2013 FY 2012 Change Revenue 266.2 277.5 (11.3) Adjusted EBITDA 177.1 180.8 (3.7) Adjusted earnings 60.6 64.7 (4.1) Asset impairment (52.4) (52.4) GAAP net income 8.2 64.7 (56.5) Capital investment…
Other Consolidated Financial Metrics millions FY 2013 FY 2012 Change Operating and Maintenance 174.3 180.8 (6.5) General and Administrative 121.0 120.8 0.2 Retirement Incentive 4.9 (4.9) Production and Other Taxes 57.4 47.9 9.5…
Cash Flow and Liquidity Cash Flow - Cash flow(1) for the twelve months ended December 31, 2013 totaled 498 million, a decrease of 5% compared to the twelve months ended December 31, 2012 Liquidity - At the end of the fourth quarter…
RON JIBSON Chairman, President & Chief Executive Officer Questar Corporation 11
Questar Gas 2013 Highlights Earned record net income of 52.8 million, a 12% increase over 2012 Since December 31, 2012, number of customers increased by 15,200 to 946,000, a growth rate of 1.6% Invested 56.9 million in…
Wexpro 2013 Highlights Wexpro II Agreement was approved by the Utah and Wyoming public service commissions Completed acquisition of additional 42% working interest in natural gas-producing properties in Wyomings Vermillion Basin for…
Questar Pipeline 2013 Highlights Completed project to serve Rocky Mountain Power's new natural gas-fired Lake Side 2 power plant Finished Uinta Basin expansion project Continued development of Inland California Express - Partnership…
Questar Fueling 2013 Highlights Opened the nation's largest CNG fueling facility in Houston, Texas in October, which is anchored by Central Freight Lines and Swift Transportation Opened a CNG station anchored by Frito-Lay and Dart…
FY 2013 Adjusted Return on Equity (1) 25.0% 19.9% 20.0% 18.7% 15.0% 10.1% 10.0% 10.0% 5.0% 0.0% Questar Gas Wexpro Questar Pipeline Consolidated (1) Adjusted return on average equity (on a financial basis) for the…
Five-year Outlook Expect to maintain a compound annual growth rate averaging 4% to 6% over the planning horizon Economists forecast that Utah's economy will continue to outperform the national average through 2014 Expect…
FY 2014 Forecast Projection Earnings per Diluted Share 1.18 - 1.28 Capital Spending 440 million Consolidated Return on Equity 17% - 19% Estimating long-term earnings growth of 4% 6% over the planning horizon Achieved target…
Questar Gas Outlook Projecting five-year compound annual earnings growth rate of 6% to 8% - Estimating customer growth to range from 1.5% to 2.5% annually Forecasting capital investment of approximately 190 million in 2014 Expecting…
Wexpro Outlook Projecting five-year compound annual earnings growth rate of 4% to 6% - Sustained soft gas price environment could limit development opportunities Continuing drilling program in Pinedale in 2014 Estimating 500 to 800…
Questar Pipeline Outlook Projecting five-year compound annual earnings growth rate of 4% to 6% Expecting to incur up to 4 million pretax in one-time safety and integrity management expenses in 2014 Planning to invest approximately 30…
Questar Fueling Outlook Forecasting capital investment of approximately 25 million in 2014 to build 6 to 8 CNG fueling facilities Plans were announced to build a CNG fueling facility anchored by Central Freight Lines in San Antonio,…
What makes Questar unique Create value across entire natural gas chain (wellhead to burner tip) STRATEGY Regulated business model with superior risk-adjusted returns Take advantage of unique growth opportunities 18.7% consolidated…
APPENDIX 25
Questar Fact Sheet CORPORATE DATA Ticker symbol and stock exchange: STR-NYSE ANALYST CONTACT: At February 18th, 2014 Tony Ivins Average daily trading volume (3 mos.): 941,024 shares VP, Corporate Treasurer & Closing Price: 23.89 Manager…
Q4 2013 Net Income (Loss) millions (except earnings per share) Q4 2013 Q4 2012 Change Questar Gas 26.0 23.8 2.2 Wexpro 28.4 27.4 1.0 Questar Pipeline 15.8 14.9 0.9 Corporate and other (2.1) (2.3) 0.2 Net income 68.1 63.8 4.3 Earnings…
Q4 2013 Questar Gas Results millions Q4 2013 Q4 2012 Change Gross margin 111.0 104.3 6.7 Adjusted EBITDA 60.7 56.6 4.1 Net income 26.0 23.8 2.2 Capital investment 46.9 41.3 5.6 Questar Gas Q4 2013 gross margin was up 6.7 million…
Q4 2013 Wexpro Results millions Q4 2013 Q4 2012 Change Adjusted EBITDA 71.1 60.7 10.4 Net income 28.4 27.4 1.0 TTM average investment base 578.5 528.6 49.9 Capital investment 37.5 34.3 3.2 Wexpro Q4 2013 adjusted EBITDA was 71.1…
Q4 2013 Questar Pipeline Results millions Q4 2013 Q4 2012 Change Revenue 69.1 72.2 (3.1) Adjusted EBITDA 44.6 44.5 0.1 Net income 15.8 14.9 0.9 Capital investment 17.2 19.0 (1.8) Questar Pipeline Q4 2013 revenue was down 3.1…
Q4 Other Consolidated Financial Metrics millions Q4 2013 Q4 2012 Change Operating and Maintenance 52.1 47.6 4.5 General and Administrative 30.8 32.8 (2.0) Retirement Incentive 4.9 (4.9) Production and Other Taxes 12.2 9.9 2.3…
FY Non-GAAP Financial Measures Management defines Adjusted EBITDA as net income (loss) before interest expense, income taxes, depreciation, depletion and amortization, net gain or loss from asset sales, abandonments and impairments, and…
FY Non-GAAP Financial Measures (Cont.) Management believes that net income, diluted earnings per common share and return on average common equity (ROE) before the third quarter 2013 impairment of the eastern segment of Questar Pipeline's…
FY Non-GAAP Financial Measures (Cont.) Management believes cash flow from operations before changes in operating assets and liabilities is an important measure of Questars operating cash flows that excludes the volatility associated with…
Q4 Non-GAAP Financial Measures Management defines Adjusted EBITDA as net income (loss) before interest expense, income taxes, depreciation, depletion and amortization, net gain or loss from asset sales, abandonments and impairments, and…
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