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Investor Presentation – Atmos Energy

Atmos Energy · Feb 28, 2014 · 31 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Investor Presentation – Atmos Energy – slide 1
    Atmos Energy Corporation Delivering clean, safe and economical energy to over 3 million homes and businesses Atmos Energy A multi-state regulated natural gas delivery company achieving strong financial growth through…
  2. Investor Presentation – Atmos Energy – slide 2
    Investment Highlights A Pure-Play, High-Growth Natural Gas Delivery Investment Proposition Attractive total return proposition of 9-11% 1 Attractive pure-play 6-8% forecasted 5-year EPS growth; 3.3%1 dividend yield total return Over…
  3. Investor Presentation – Atmos Energy – slide 3
    Attractive, Pure-Play Return Constructive Regulatory Mechanisms Support Efficient Conversion of Rate Base Growth Opportunities into Financial Results 1 850-950mm in annual capital Constructive rate mechanisms 6%-8% Consolidated EPS…
  4. Investor Presentation – Atmos Energy – slide 4
    Leading Natural Gas Delivery Platform Eight-state distribution territory Atmos business mix Intrastate pipeline system 2 Regulated distribution Regulated68% distribution 68% Regulated pipeline 29% Regulated pipeline 29%…
  5. Investor Presentation – Atmos Energy – slide 5
    Regulated Operations in Texas Scope of Texas Operations Distribution and Pipeline 2 Over 60% of consolidated margins and about 70% of asset base are concentrated in Texas Constructive regulatory framework supports and incentivizes…
  6. Investor Presentation – Atmos Energy – slide 6
    Distribution Divisions in Texas Operate in Constructive Regulatory Environment Distribution Divisions in Texas Serve Approximately 1.8 Million Customers Largest natural gas distributor in Texas 2 Regulated by the Railroad…
  7. Investor Presentation – Atmos Energy – slide 7
    Favorably Positioned Regulated Pipeline Spans Texas Shale Gas Supply Basins Atmos Pipeline Texas 2 Regulated by the Railroad Commission of Texas 5,600 mile intrastate pipeline with connections at all 3 Texas Hubs 250-275…
  8. Investor Presentation – Atmos Energy – slide 8
    Constructive Rate Mechanisms Accelerate Recovery of Capital Spending Reducing Regulatory Lag Accelerates Recovery of Investments 2 Annual Rate Base Authorized Return on State Infrastructure mechanisms (000s) 1 Equity 1 Texas LDC…
  9. Investor Presentation – Atmos Energy – slide 9
    Regulatory Lag and Risk of Recovery Minimized with Constructive Rate Mechanisms Regulated Capex Spend and Timely Recovery Texas Rule 8.209 Capital Regulatory lag & Investment Estimates risk of recovery reduced Fiscal year millions…
  10. Investor Presentation – Atmos Energy – slide 10
    Constructive Rate Outcomes Drive Operating Income Growth Approved Annual Increases to Operating Income 1 Distribution and Pipeline Operations 2 150.0 Customers and investors 110 - 130 benefit from fair and 122.3 reasonable…
  11. Investor Presentation – Atmos Energy – slide 11
    Capital Expenditures Drive Rate Base Growth Consolidated 2014E Capital Expenditures of 830-850 million 70% Fiscal 2014E CAPEX deployed in Texas 3 ( millions) Safety & Reliability 600 - 650 1,000 850-950 million 900 845.0…
  12. Investor Presentation – Atmos Energy – slide 12
    Capital Spending Drives Rate Base Growth Strong Regulated Rate Base Growth Focused on enhancing system safety and reliability 3 8,000 6.9 - 7.1 Billion 7,000 6,000 ( billions) 5,000 4.1 Billion 4,000 3,000 2,000…
  13. Investor Presentation – Atmos Energy – slide 13
    Strong Earnings Growth Driven By Rate Base Investments Earnings Per Share Expected to Grow 6% 8% Annually 4 3.45 - 3.65 Capital expenditures of 4.00 850 - 950 million 3.50 annually 3.00 2.53 Incremental financing through fiscal…
  14. Investor Presentation – Atmos Energy – slide 14
    Fiscal 2014E Guidance Remains Unchanged Net Income (excluding Mark-to-Market) and Select Expenses 4 ( millions, except EPS) 2013 2014E Regulated Operations 227 251 261 Nonregulated Operations 6 10 12 Total Net Income 233 261 273…
  15. Investor Presentation – Atmos Energy – slide 15
    Financial Highlights Fiscal 2013 Highlights 4 Year-over-year adjusted1 earnings per share growth of 9.5%; 11th consecutive year of increased earnings 122.3 million in approved annual operating income increases, including…
  16. Investor Presentation – Atmos Energy – slide 16
    Strong Financial Foundation Long-Term Debt Maturity and Liquidity Profile 4 Debt Maturity as of Liquidity Profile as of December 31, 2013 December 31, 2013 millions millions 1,500 1,500 1,260 1,200 499.3 MM 194.6 1,200…
  17. Investor Presentation – Atmos Energy – slide 17
    Strong Financial Foundation Improved Weighted Average Cost of Long-Term Debt Average maturities extended from 12 to 14.7 years1 4 ( millions) 8.0 2,500 7.0 2,000 6.9 6.9 Net Long Term Debt Interest Rate % 6.5 1,500 6.5 6.3…
  18. Investor Presentation – Atmos Energy – slide 18
    Sustainable and Growing Dividend 30 Consecutive Years of Dividend Increases 4 1.60 1.48E 1.40 Dividend increased 5.7% for fiscal 2014 1.20 The indicated annual 1.00 dividend rate for fiscal 2014 is 1.48 0.80 53% - 55% payout…
  19. Investor Presentation – Atmos Energy – slide 19
    Select Fiscal 2014 First Quarter Conference Call Slides 20
  20. Investor Presentation – Atmos Energy – slide 20
    Consolidated Financial Results Fiscal 2014 1Q Q1 Fiscal 2014 Net Income versus Q1 Fiscal 2013 Net Income Natural Regulated Average Earnings Q1 Fiscal 2014 Net Income Gas Transmission Non Diluted Per (millions, except EPS) Distribution…
  21. Investor Presentation – Atmos Energy – slide 21
    Segment Financial Results Fiscal 2014 1Q Natural Gas Distribution Quarter Ended 12/31 ( millions) 2013 2012 Change Key Drivers 19.6M gross profit Gross Profit 299.2 279.6 19.6 increase: Operating Expenses 11.0M due to colder…
  22. Investor Presentation – Atmos Energy – slide 22
    Segment Financial Results Fiscal 2014 1Q Regulated Transmission & Storage - APT Quarter Ended 12/31 Key Drivers ( millions) 2013 2012 Change 10.6M gross profit increase: Gross Profit 71.3 60.7 10.6 6.8M from GRIP filing Operating…
  23. Investor Presentation – Atmos Energy – slide 23
    Consolidated Financial Results Fiscal 2014 1Q Capital Expenditures Spending Mix Q1 2014: 180.6 million Q1 2013: 190.0 million 5.5 6.8 9.3 17.5 3% 4% 5% 9% 39.9 22% 32.0 17% 2.1 1.0 1% 1% 126.3 130.2 70% 68% Safety &…
  24. Investor Presentation – Atmos Energy – slide 24
    Key Regulatory Developments - Fiscal 2014 1Q Approved Annual Increases in Operating Income from Rate Activity 18.6M Key Rate Approvals 20.0 Fiscal 2014 YTD 3.5 Kentucky PRP- 2.5M 15.0 Mid-Tex Environs- 0.8M Mid-Tex 2012 RRM-…
  25. Investor Presentation – Atmos Energy – slide 25
    Key Regulatory Developments - Fiscal 2014 YTD Mid-Tex Cities: Settled Rate Review Mechanism on November 1, 2013, authorizing a net increase in annual operating income of 12.5 million. Authorized ROE of 10.5 percent; overall return of…
  26. Investor Presentation – Atmos Energy – slide 26
    Key Regulatory Developments - Fiscal 2014 YTD Rate Filing Outlook Fiscal 2014E Q1 Q2 Q3 Q4 October December January March April June July September West Texas Filed system-wide Kansas Filed rate case in Louisiana Anticipate LGS…
  27. Investor Presentation – Atmos Energy – slide 27
    Key Regulatory Developments - Fiscal 2014 YTD Kentucky Rate Filing: May 13, 2013, filed rate case requesting an increase in annual operating income of 10.6 million. Requested ROE of 10.7 percent; overall return of 8.53 percent…
  28. Investor Presentation – Atmos Energy – slide 28
    Key Regulatory Developments - Fiscal 2014 YTD TransLa Rate Stabilization Filing: Filed rate case on December 18, 2013, requesting a net increase in annual operating income of 550,000. Requested ROE of 10.00 percent; overall return of…
  29. Investor Presentation – Atmos Energy – slide 29
    Key Regulatory Developments - Fiscal 2014 YTD Mid-Tex City of Dallas Annual Rate Review- DARR : Filed rate case on January 15, 2014, requesting a net increase in annual operating income of 7.9 million. Requested ROE of 10.10 percent;…
  30. Investor Presentation – Atmos Energy – slide 30
    Segment Financial Results Fiscal 2014 1Q Nonregulated Operations Quarter Ended 12/31 Key Drivers ( millions) 2013 2012 Change Gas Delivery & Related Services 12.5 10.1 2.4 2.4M increase in gas Storage/Transportation 3.5 3.5 ---…
  31. Investor Presentation – Atmos Energy – slide 31
    Regulated Operations Date of Authorized Requested Effective Last Rate Operating Operating Rate Base Requested Authorized Requested Authorized Requested Authorized Requested Date of Last Filing Income Income thousands Rate Base Rate of…

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