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Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy

Atmos Energy · Feb 4, 2015 · 24 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 2015 First Quarter Financial Results – Atmos Energy – slide 1
    Analysts Call to Review Fiscal 2015 First Quarter Financial Results February 4, 2015 8:00 a.m. Eastern
  2. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 2
    Consolidated Financial Results Fiscal 2015 1Q Q1 Fiscal 2015 Net Income versus Q1 Fiscal 2014 Net Income Average Q1 Fiscal 2015 Net Income Regulated Non Diluted (millions, except EPS) Distribution Pipeline Regulated TOTAL Shares EPS *…
  3. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 3
    Segment Financial Results Fiscal 2015 1Q Regulated Distribution Key Drivers Quarter Ended 12/31 24.6M gross profit ( millions) 2014 2013 Change increase: Gross Profit 323.8 299.2 24.6 19.3M from rates, primarily in Texas and…
  4. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 4
    Segment Financial Results Fiscal 2015 1Q Regulated Pipeline Quarter Ended 12/31 Key Drivers ( millions) 2014 2013 Change 12.3M gross profit increase from GRIP filing Gross Profit 83.6 71.3 12.3 that became effective May 2014…
  5. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 5
    Consolidated Financial Results Fiscal 2015 1Q Capital Expenditures Spending Mix Q1 2015: 261.3 million Q1 2014: 180.6 million 32.7 22.4 13% 12% 23.6 14.4 9% 205.0 143.8 8% 78% 80% Safety & Reliability Customer…
  6. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 6
    Key Regulatory Developments - Fiscal 2015 YTD Implemented Annual Increases in Operating Income from Rate Activity 10.0 Key Rates Implemented 8.0 6 Million Fiscal 2015 YTD Kentucky PRP - 4.4M ( millions) 6.0 Incremental…
  7. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 7
    Key Regulatory Developments - Fiscal 2015 YTD Kentucky PRP Rate Filing: Final order issued on October 10, 2014, authorizing an increase in annual operating income of 4.4 million Authorized ROE of 9.80 percent Authorized capital…
  8. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 8
    Key Regulatory Developments - Fiscal 2015 YTD West Texas Cities: Filed annual rate review mechanism (RRM), on December 1, 2014, requesting a net annual operating income increase of 5.0 million Authorized ROE of 10.50 percent; overall…
  9. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 9
    Key Regulatory Developments - Fiscal 2015 YTD Mid-Tex City of Dallas Annual Rate Review- DARR : Filed case on January 15, 2015, requesting a net increase in annual operating income of 6.7 million Authorized ROE of 10.10 percent;…
  10. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 10
    Key Regulatory Developments - Fiscal 2015E Rate Filing Outlook Fiscal 2015E Q1 Q2 Q3 Q4 October December January March April June July September Kansas Issued GSRS for 0.3M Mid-Tex (Dallas) Filed Dallas Louisiana Anticipate LGS…
  11. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 11
    Pending Regulatory Filings - Fiscal 2015 Mid-Tex Cities: Filed Rate Review Mechanism (RRM) on February 28, 2014, requesting a net increase in annual operating income of 34.9 million. Subsequently appealed a 33.4 million filing to the…
  12. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 12
    Segment Financial Results Fiscal 2015 1Q Nonregulated Quarter Ended 12/31 Key Drivers ( millions) 2014 2013 Change Gas Delivery & Related Services 10.7 12.5 (1.8) 1.8M decrease in gas Storage and Transportation 3.3 3.5 (0.2) delivery…
  13. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 13
    Consolidated Financial Results Fiscal 2015 1Q Long-Term Debt Maturity and Liquidity Profile Debt Maturity as of Liquidity Profile as of December 31, 2014 December 31, 2014 millions millions 1,760 1,500 123.8 1,800 0.9 billion…
  14. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 14
    Consolidated Earnings Guidance Fiscal 2015E* Atmos Energy continues to expect earnings to be in the range of 2.90 to 3.05 per diluted share for the 2015 fiscal year, excluding unrealized margins. Net Income (excluding Mark-to-Market)…
  15. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 15
    Consolidated Capital ExpendituresFiscal 2015E Consolidated 2015E Capital Expenditures of 900 million - 1 billion 91% Fiscal 2015E CAPEX begins to earn a return within 6 months from end of test year ( millions) 1,200 1,100 Safety &…
  16. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 16
    Consolidated Financial Results Fiscal 2015E 31 Consecutive Years of Dividend Increases 1.60 1.56E Quarterly Dividend On February 3, 2015, 1.40 the Board of Directors declared a quarterly 1.20 dividend of 0.39 per share 1.00 125th…
  17. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 17
    Appendix 18
  18. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 18
    Attractive, Pure-Play Return Constructive Regulatory Mechanisms Support Efficient Conversion of Rate Base Growth Opportunities into Financial Results 900 million - 1.1 billion in annual Constructive rate mechanisms 6% - 8%…
  19. Analysts Call to Review Fiscal 2015 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 Factors Included in Projections 3.50 - 3.75 Capital expenditures of 900 4.00 million - 1.1…
  20. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 20
    Capital Spending Drives Rate Base Growth Strong Regulated Rate Base Growth Focused on enhancing system safety and reliability 7.2 - 7.4 Billion 8,000 7,000 6,000 ( billions) 5,000 4.1 Billion 4,000 3,000 2,000 1,000…
  21. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 21
    Constructive Rate Mechanisms Reduce Regulatory Lag 45% of Fiscal 2015E CAPEX is Unlagged % of 2015E Spend Months of Lag Capex (in millions) Unlagged Unlagged Fiscal Capital Mid-Tex and West Texas Rule 8.209, Mississippi, Louisiana…
  22. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 22
    Regulatory and Recovery Mechanisms Regulatory Mechanism Recovery Method Jurisdiction Infrastructure Forward General Rate Base Annual Filing Program Looking Case (in millions) Texas Mid-Tex 8.209 - RRM/DARR/GRIP - 1,799…
  23. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 23
    Constructive Rate Outcomes Drive Operating Income Growth Implemented Annual Increases to Operating Income 1 Distribution and Pipeline Operations 150.0 Customers and investors 122.3 134.0 benefit from fair and 125.0 105 - 125…
  24. Analysts Call to Review Fiscal 2015 First Quarter Financial Results – Atmos Energy – slide 24
    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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