Questar Corpora,on A Rockies-based integrated natural gas company oering growth and high returns Making lives be-er by developing and delivering essen3al energy Fourth Quarter 2014 Earnings Release February 19,…
KEVIN HADLOCK Execu)ve Vice President & Chief Financial Ocer Questar Corpora)on 3
FY 2014 Financial Highlights Reported record FY 2014 net income of 226.5 million compared to FY 2013 adjusted earnings of 213.6 million (1) Earned 1.29 per diluted share in FY 2014, up 7% compared to adjusted 1.21 per diluted…
Net Income (Loss) millions (except earnings per share) FY 2014 FY 2013 Change Questar Gas 55.2 52.8 2.4 Wexpro 122.8 110.6 12.2 Questar Pipeline 60.6 60.6 Corporate and other (12.1) (10.4) (1.7) Adjusted earnings 226.5 213.6 12.9…
Questar Gas Results in millions FY 2014 FY 2013 Change % Change Gross Margin 356.1 335.2 20.9 6% Adjusted EBITDA(1) 168.9 156.7 12.2 8% Net income 55.2 52.8 2.4 5% Capital investment 174.7 166.2 8.5 5% FY 2014 gross…
Wexpro Results in millions FY 2014 FY 2013 Change % Change Adjusted EBITDA(1) 285.3 258.7 26.6 10% Net income 122.8 110.6 12.2 11% TTM average investment base 664.5 547.7 116.8 21% Capital investment 114.4 249.5 (135.1)…
Other Consolidated Financial Metrics in millions FY 2014 FY 2013 Change % Change Adjusted opera)ng and maintenance (1) 149.6 144.6 5.0 3% General and administra)ve 127.9 121.0 6.9 6% Produc)on and other taxes 66.2 57.4 8.8 15%…
Cash Flow and Liquidity Cash Flow (1) -Cash ow for the twelve months ended December 31, 2014 totaled 525 million, an increase of 5% compared to the twelve months ended December 31, 2013 Liquidity -At the end of the fourth…
RON JIBSON Chairman, President & Chief Execu)ve Ocer Questar Corpora)on 11
Questar Gas 2014 Highlights Earned record net income of 55.2 million, a 5% increase over 2013 Since December 31, 2013, number of customers increased by just over 16,200 to more than 962,000, a growth rate of 1.7% Invested 68.2…
Wexpro 2014 Highlights Achieved record net income of 122.8 million, up 11% compared to 2013 Increased year-over-year ending investment base by 59.3 million or 10% Utah and Wyoming commissions approved 2013 Trail acquisi)on…
Questar Pipeline 2014 Highlights Successful recontrac)ng eorts and cost-containment ini)a)ves allowed Questar Pipeline to match adjusted net income in 2013 of 60.6 million Safely completed dicult segment of the ML-3 replacement…
Questar Fueling 2014 Highlights Opened three new high-volume CNG sta)ons in Dallas and DeSoto, Texas and in Kansas City, Kansas Healthy backlog of sta)ons under development 15
Five-year Outlook Compound annual growth rate averaging 4% to 6% over the planning horizon Economists forecast that Utah's economy will con)nue to outperform the na)onal average through 2015 Sustained low gas-price…
FY 2015 Forecast Projec,on Earning per Diluted Share 1.20 - 1.30 Capital Spending 370 million Consolidated Return on Equity 15% - 18% Es)ma)ng long-term earnings growth of 4% 6% over the planning horizon Increased target…
Questar Gas Outlook Projec)ng ve-year compound annual earnings growth rate of 6% to 8% Es)ma)ng customer growth to range from 1.5% to 2.5% annually Forecas)ng capital investment of approximately 215 million in 2015 Expected…
Wexpro Outlook Projec)ng ve-year compound annual earnings growth rate of 2% to 5% Sustained low gas price environment could limit development spending in the near-term Wexpro con)nues to provide solid cash ow and EBITDA…
Questar Pipeline Outlook Projec)ng ve-year compound annual earnings growth rate of 4% to 6% Expec)ng lower NGL prices to reduce NGL revenues through 2015 Con)nuing to invest in pipeline replacement and upgrades in 2015 Capital…
What makes Questar unique Create value across en)re natural gas chain (wellhead to burner )p) STRATEGY Regulated business model with superior risk-adjusted returns Take advantage of unique growth opportuni)es 18.5% consolidated…
APPENDIX 23
Questar Fact Sheet CORPORATE DATA Ticker symbol and stock exchange: STR-NYSE ANALYST CONTACT: At February 18, 2015 Tony Ivins Average daily trading volume (3 mos.): 983,244 shares VP Investor Rela)ons & Closing Price: 24.41…
Q4 2014 Net Income (Loss) millions (except earnings per share) Q4 2014 Q4 2013 Change Questar Gas 28.0 26.0 2.0 Wexpro 29.8 28.4 1.4 Questar Pipeline 14.3 15.8 (1.5) Corporate and other (9.6) (2.1) (7.5) Net income (loss) 62.5…
Q4 2014 Questar Gas Results in millions Q4 2014 Q4 2013 Change % Change Gross Margin 112.7 111.0 1.7 2% Adjusted EBITDA 63.7 60.7 3.0 5% Net income 28.0 26.0 2.0 8% Capital investment 36.5 46.9 (10.4) (22%) Questar Gas…
Q4 2014 Wexpro Results in millions Q4 2014 Q4 2013 Change % Change Adjusted EBITDA 64.4 71.1 (6.7) (9%) Net income 29.8 28.4 1.4 5% Average investment base 653.7 578.5 75.2 13% Capital investment 79.4 37.5 41.9 112%…
Q4 2014 Questar Pipeline Results in millions Q4 2014 Q4 2013 Change % Change Revenue 65.8 69.1 (3.3) (5%) Adjusted EBITDA 43.9 44.6 (0.7) (2%) Net income 14.3 15.8 (1.5) (9%) Capital investment 14.1 17.2 (3.1) (18%)…
Q4 Other Consolidated Financial Metrics in millions Q4 2014 Q4 2013 Change % Change Adjusted opera)ng and maintenance (1) 40.1 38.5 1.6 4% General and administra)ve 39.9 30.8 9.1 30% Produc)on and other taxes 12.8 12.2 0.6 5%…
Q4 Non-GAAP Financial Measures Management denes Adjusted EBITDA as net income (loss) before interest expense, income taxes, deprecia)on, deple)on and amor)za)on, net gain or loss from asset sales, abandonments and impairments, and…
Q4 Non-GAAP Financial Measures (Cont.) Management believes consolidated opera)ng and maintenance expense excluding demand-side-management costs is a useful measure to assess Questars opera)onal performance because demand-side management…
FY Non-GAAP Financial Measures Management denes Adjusted EBITDA as net income (loss) before interest expense, income taxes, deprecia)on, deple)on and amor)za)on, net gain or loss from asset sales, abandonments and impairments, and…
FY Non-GAAP Financial Measures (Cont.) Management believes that net income, and earnings per diluted common share before the third quarter 2013 impairment of the eastern segment of Questar Pipeline's Southern Trails Pipeline…
FY Non-GAAP Financial Measures (Cont.) Management believes cash ow from opera)ons before changes in opera)ng assets and liabili)es is an important measure of Questars opera)ng cash ows that excludes the vola)lity associated with changes…
FY Non-GAAP Financial Measures (Cont.) Management believes consolidated opera)ng 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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