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CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International

Cal Dive International · Sep 30, 2014 · 11 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. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 1
    Cal Dive International 2nd Quarter 2014 Earnings Conference Call
  2. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 2
    Presentation Outline Summary of 2Q 2014 Backlog Discussion of Financial Results Non-GAAP Reconciliations Q&A 3
  3. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 3
    Summary of 2Q 2014 Pemex projects Unseasonably adverse weather during latter half of quarter Cost overruns on two projects; one is complete and the other expected to be completed in 3Q14 Remaining two contracts temporarily suspended…
  4. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 4
    Backlog ( millions) 400 400 350 302 300 238 234 250 230 176 200 150 100 50 54(1) 0 2Q10 2Q11 2Q12 2Q13 2Q14 (1) Backlog related to Macondo work. 5
  5. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 5
    Financial Results ( thousands, except per share amounts and percentages) Three Months Six Months Ended June 30, Ended June 30, 2014 2013 2014 2013 Revenues 121,689 120,986 240,793 201,905 Gross profit (loss) (17,431) 2,630 (23,650)…
  6. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 6
    Revenue Breakdown (in millions) 53% Domestic International 241 250 202 200 47% 150 121 122 196 137 49% 88% 100 78 73% 91 50 27% 65 43 12% 45 31 55% 0 2Q 2013 2Q 2014 YTD 2013 YTD 2014 7
  7. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 7
    Utilization Utilization only includes Company-owned assets and does not reflect activity from chartered vessels or third party vessels. Three Months Six Months Ended June 30, Ended June 30, 2014 2013 2014 2013 Effective…
  8. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 8
    Debt Levels (in millions) Funded Debt 300 264 250 212 86 200 160 106 150 100 235 86 100 165 150 50 106 74 78 - 2009 2010 2011 2012 2013 June 30, 2014 First Lien Secured Debt - maturity April 2016 Second Lien…
  9. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 9
    Liquidity and Debt Refinancing Liquidity of 40 million at June 30, 2014 Continued focus on working capital management Pemex A/R and Unbilled of 111 million at June 30, 2014 Carve-out for up to 75 million of project financing…
  10. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 10
    Non-GAAP Reconciliations 11
  11. CAL DIVE INTERNATIONAL 2ND QUARTER 2014 EARNINGS CONFERENCE CALL – Cal Dive International – slide 11
    EBITDA Reconciliations (all amounts in thousands) Three Months Six Months Ended June 30, Ended June30, 2014 2013 2014 2013 Loss attributable to Cal Dive (29,075) (1,668) (42,126) (19,318) Net interest expense 7,977 4,630 13,585…

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