Questar Corporation A Rockies-based integrated natural gas company offering growth and high returns Making lives better by developing and delivering essential energy Second Quarter 2014 Earnings Release July 31, 2014 1
KEVIN HADLOCK Executive Vice President & Chief Financial Officer Questar Corporation 3
Q2 2014 Financial Summary Reported Q2 2014 net income of 40.3 million, up 2% compared to Q2 2013 net income of 39.4 million On an earnings per share basis, reported 0.23 per diluted share in Q2 2014, up 5% compared to 0.22 per…
Net Income (Loss) in millions (except per-share amounts) Q2 2014 Q2 2013 Change Questar Gas (3.3) (1.2) (2.1) Wexpro 30.1 28.4 1.7 Questar Pipeline 15.7 14.5 1.2 Corporate and other (2.2) (2.3) 0.1 Net income 40.3 39.4 0.9 Earnings per…
Questar Gas Results in millions Q2 2014 Q2 2013 Change Gross margin 57.8 56.7 1.1 Adjusted EBITDA (1) 15.1 15.9 (0.8) Net loss (3.3) (1.2) (2.1) Capital investment 38.9 42.4 (3.5) Q2 2014 gross margin was up 1.1 million or 2%…
Wexpro Results in millions Q2 2014 Q2 2013 Change Adjusted EBITDA (1) 76.4 63.0 13.4 Net income 30.1 28.4 1.7 TTM average investment base 614.1 531.5 82.6 Capital investment 12.5 45.8 (33.3) Q2 2014 Adjusted EBITDA was 76.4…
Questar Pipeline Results in millions Q2 2014 Q2 2013 Change Revenue 65.8 64.7 1.1 Adjusted EBITDA (1) 45.0 43.5 1.5 Net income 15.7 14.5 1.2 Capital investment 8.7 18.2 (9.5) Q2 2014 revenue was up 1.1 million or 2% versus Q2 2013…
Other Consolidated Financial Metrics in millions Q2 2014 Q2 2013 Change Adjusted operating and maintenance (1) 35.7 34.0 1.7 General and administrative 30.5 32.0 (1.5) Production and other taxes 18.7 14.7 4.0 Depreciation, depletion…
Cash Flow and Liquidity Cash Flow (1) - Cash flow for the six months ended June 30, 2014 totaled 246 million, a decrease of 10% compared to the six months ended June 30, 2013 Liquidity - At the end of the second quarter 2014,…
RON JIBSON Chairman, President & Chief Executive Officer Questar Corporation 11
Q2 2014 Highlights Questar Gas - Number of Questar Gas customers increased 1.6% to over 953,800 since June 30, 2013 - Reached an agreement, contingent on meeting purchase-agreement terms and final approvals, to acquire a municipal…
Questar Gas Eagle Mountain Acquisition Eagle Mountain System Summary: Consists of six miles of steel high-pressure and 120 miles of intermediate high-pressure main lines and service lines Serves more than 6,000 homes in one of Utahs…
Questar Fueling Stations Station Locations - Lower 48 states with national carriers and large fleets - High-traffic corridors ESTIMATED PLANNED STATIONS COMPLETION Completed July DeSoto, Texas 2014 Dallas, Texas Summer 2014…
Q2 2014 Adjusted Return on Equity (1) 20.0% 18.7% 18.7% 18.0% 16.0% 14.0% 12.0% 9.9% 10.2% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Questar Gas Wexpro Questar Pipeline Consolidated (1) Adjusted return on average equity (on a financial…
FY 2014 Forecast Projection Earnings per Diluted Share 1.18 - 1.28 Capital Spending 400 million Consolidated Return on Equity 17% - 19% Estimating long-term earnings growth of 4% 6% over the planning horizon Expect future…
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 18
Questar Fact Sheet CORPORATE DATA Ticker symbol and stock exchange: STR-NYSE ANALYST CONTACT: At July 29, 2014 Tony Ivins Average daily trading volume (3 mos.): 915,879 shares VP, Investor Relations & Closing Price: 23.24 Corporate…
Q2 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…
Q2 Non-GAAP Financial Measures (Cont.) Management believes that net income, earnings per diluted common share and return on average common equity (ROE) before the third quarter 2013 impairment of the eastern segment of Questar Pipeline's…
Q2 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…
Q2 Non-GAAP Financial Measures (Cont.) Management believes consolidated operating and maintenance expense excluding demand-side-management costs and combined O&M and G&A expense excluding demand-side management costs are useful measures…
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