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Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy

Atmos Energy · Feb 5, 2014 · 25 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. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 1
    Analysts Call to Review Fiscal 2014 First Quarter Financial Results February 5, 2014 8:30 a.m. Eastern
  2. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 2
    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…
  3. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 3
    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…
  4. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 4
    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…
  5. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 5
    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 &…
  6. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 6
    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 2013 RRM-…
  7. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 7
    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…
  8. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 8
    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…
  9. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 9
    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…
  10. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 10
    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…
  11. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 11
    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;…
  12. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 12
    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 ---…
  13. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 13
    Consolidated Financial Results Fiscal 2014 1Q Long-Term Debt Maturity and Liquidity Profile Debt Maturity as of Liquidity Profile as of December 31, 2013 December 31, 2013 millions millions 1,500 1,260 1,500 499.3 MM 1,200…
  14. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 14
    Consolidated Earnings Guidance Fiscal 2014E* Atmos Energy continues to expect earnings to be in the range of 2.66 to 2.76 per diluted share for the 2014 fiscal year, excluding unrealized margins. Total capital expenditures from fiscal…
  15. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 15
    Consolidated Expense Projections - Fiscal 2014E Selected Income Statement Components Excludes Discontinued Operations ( millions) 1,200 2014E ( millions) 1,000 O&M 470 - 480 470- D&A 248 - 255 800 480 Interest 130 - 135 488 454…
  16. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 16
    Consolidated Capital ExpendituresFiscal 2014E Consolidated 2014E Capital Expenditures of 830-850 million 70% Fiscal 2014E CAPEX deployed in Texas ( millions) Safety & Reliability 845.0 830-850 40 - 42 million Pipeline Integrity 900…
  17. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 17
    Consolidated Financial Results Fiscal 2014E Annual Dividend Growth 1.60 1.48 Quarterly Dividend 1.40 On February 4, 2014, the Board of Directors 1.20 declared a quarterly dividend of 0.37 per 1.00 share 121st consecutive 0.80…
  18. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 18
    Appendix 19
  19. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 19
    Investments Drive Rate Base Growth that Drives Earnings Growth Earnings Per Share Expected to Grow Between 6% 8% Annually Consolidated Results Assumptions Included in Projections 4.00 3.45 - 3.65 Capital expenditures of 850 - 950…
  20. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 20
    Capital Spending Results in Rate Base Growth Enhancing the Safety and Reliability of our System and Earning a Regulated Return on Investment 8,000 6.9 - 7.1 Billion 7,000 6,000 ( billions) 5,000 4.1 Billion 4,000 3,000…
  21. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 21
    Growth Fueled by Increased Capital Spend Financed with a Blend of Cash Flow, Debt and Equity Average of 850-950 million annually 1,000 845 830-850 800 733 Capex Spending ( millions) 600 400 200 0 2012 2013 2014E…
  22. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 22
    Regulatory Lag and Risk of Recovery Minimized with Constructive Rate Mechanisms Consolidated Regulated Capex Spend and Timely Recovery Estimated Capex Range of Between 830 - 850 Million in Fiscal 2014 % of capital deployed General Rate…
  23. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 23
    Strategically Deploying Capital Under Rule 8.209 in Texas Encourages Distribution Spending for System Safety & Reliability Rule 8.209 is a risk-based program requiring aging Texas distribution infrastructure be replaced based on pipe…
  24. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 24
    Improved Rate Strategies Drive Operating Income Growth Approved Annual Increases to Operating Income Distribution and Pipeline Operations 150.0 Customers and investors benefit 110 - 130* from fair and reasonable 122.3*…
  25. Analysts Call to Review Fiscal 2014 First Quarter Financial Results – Atmos Energy – slide 25
    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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