This document provides an overview of Atmos Energy Corporation's operations and strategy. It summarizes that Atmos is the largest pure natural gas distribution company in the US, with a focus on growing its regulated gas distribution business through acquisitions. It also operates complementary nonregulated pipeline and storage assets and a natural gas marketing business. The overview outlines Atmos' successful acquisition history and steady growth in earnings per share from regulated and nonregulated operations.
Celanese Corporation reported record second quarter results for 2008, with net sales increasing 20% and operating profit more than doubling compared to the second quarter of 2007. Several of Celanese's business segments saw higher sales and profits driven by increased pricing, volumes, and currency impacts. Despite challenges from higher raw material and energy costs, the company reaffirmed its full-year 2008 outlook for adjusted earnings per share and operating EBITDA.
Atmos Energy Corporation provides forward-looking statements about its business in this presentation. It operates natural gas utilities in 12 states and nonutility businesses in 22 states. The company has grown through acquisitions, becoming the largest pure-play natural gas distribution company based on customers. It aims to maximize core utility earnings through regulatory strategies including weather normalization adjustment mechanisms, gas cost recovery, and capital investment recovery riders. Nonutility operations in gas marketing and pipeline/storage complement the utility business.
This document is Smithfield Foods' 2008 Annual Report. It discusses the company's global operations, financial highlights for fiscal year 2008, a message from the CEO addressing challenges in the hog markets and gains in packaged meats, and community outreach programs. Key points include increased sales but lower net income compared to 2007 due to unfavorable hog market conditions, expansion of international operations, and a strategic focus on value-added packaged meats products.
Royal Dutch Shell reported a 5% increase in second quarter 2008 earnings compared to the same period last year, driven by higher oil and gas prices offsetting lower production volumes and weaker downstream conditions. The company declared a dividend of $0.40 per share, an increase of 11% from the prior year, and invested $5.7 billion in capital projects during the quarter. Shell also announced an offer to acquire Duvernay Oil Corp. for $5.9 billion including debt, subject to regulatory approvals.
March 2012 NAL Energy Corporate PresentationNALenergy
NAL Energy Corporation is an oil and gas company with a market capitalization of $1.1 billion and monthly dividend of $0.05 per share. It has several series of convertible debentures outstanding. The company's strategic direction focuses on long term sustainability through dividend payments, adding scalable liquids opportunities, cost efficiency, and disciplined acquisitions. NAL provides a corporate presentation outlining its operational and financial strategies, including growing its liquids volumes, maintaining financial flexibility, and providing 2012 guidance and reserve information.
ARC Resources - February 2013 Investor PresentationARC Resources
ARC Resources provides an investor presentation detailing its oil and gas reserves, production growth, and financial performance. Some key points include:
- ARC's proved plus probable reserves totaled 607 million barrels of oil equivalent as of December 31, 2012.
- Between 2012 and 1997, ARC grew its proved plus probable reserves at a compound annual growth rate of 18%.
- ARC replaced over 200% of its 2012 production at a finding and development cost of $9.34 per barrel of oil equivalent.
oneok ONEOK and ONEOK Partners to Present at AGA Financial Forumfinance20
John Gibson, CEO of ONEOK and ONEOK Partners, presented at the American Gas Association Financial Forum. He discussed recent transactions that transformed ONEOK Partners, including the purchase of assets from Koch Industries that doubled the size of ONEOK Partners. He outlined ONEOK Partners' strategy of continued growth through internal projects exceeding $1.5 billion through 2009. Gibson also reviewed financial results for ONEOK and ONEOK Partners, noting distribution growth, unit price increases, and continued focus on maintaining strong balance sheets and credit ratings.
Holly Corporation operates three petroleum refineries in the western United States with a total refining capacity of 107,500 barrels per day. In 2003, Holly acquired the Woods Cross Refinery from ConocoPhillips and increased its overall refining capacity. Holly also purchased an additional interest in the Rio Grande pipeline joint venture and sold its Iatan crude oil gathering system. Holly reported significant increases in sales, income, earnings per share and other financial metrics in 2003 compared to 2002, demonstrating strong financial performance.
Celanese Corporation reported record second quarter results for 2008, with net sales increasing 20% and operating profit more than doubling compared to the second quarter of 2007. Several of Celanese's business segments saw higher sales and profits driven by increased pricing, volumes, and currency impacts. Despite challenges from higher raw material and energy costs, the company reaffirmed its full-year 2008 outlook for adjusted earnings per share and operating EBITDA.
Atmos Energy Corporation provides forward-looking statements about its business in this presentation. It operates natural gas utilities in 12 states and nonutility businesses in 22 states. The company has grown through acquisitions, becoming the largest pure-play natural gas distribution company based on customers. It aims to maximize core utility earnings through regulatory strategies including weather normalization adjustment mechanisms, gas cost recovery, and capital investment recovery riders. Nonutility operations in gas marketing and pipeline/storage complement the utility business.
This document is Smithfield Foods' 2008 Annual Report. It discusses the company's global operations, financial highlights for fiscal year 2008, a message from the CEO addressing challenges in the hog markets and gains in packaged meats, and community outreach programs. Key points include increased sales but lower net income compared to 2007 due to unfavorable hog market conditions, expansion of international operations, and a strategic focus on value-added packaged meats products.
Royal Dutch Shell reported a 5% increase in second quarter 2008 earnings compared to the same period last year, driven by higher oil and gas prices offsetting lower production volumes and weaker downstream conditions. The company declared a dividend of $0.40 per share, an increase of 11% from the prior year, and invested $5.7 billion in capital projects during the quarter. Shell also announced an offer to acquire Duvernay Oil Corp. for $5.9 billion including debt, subject to regulatory approvals.
March 2012 NAL Energy Corporate PresentationNALenergy
NAL Energy Corporation is an oil and gas company with a market capitalization of $1.1 billion and monthly dividend of $0.05 per share. It has several series of convertible debentures outstanding. The company's strategic direction focuses on long term sustainability through dividend payments, adding scalable liquids opportunities, cost efficiency, and disciplined acquisitions. NAL provides a corporate presentation outlining its operational and financial strategies, including growing its liquids volumes, maintaining financial flexibility, and providing 2012 guidance and reserve information.
ARC Resources - February 2013 Investor PresentationARC Resources
ARC Resources provides an investor presentation detailing its oil and gas reserves, production growth, and financial performance. Some key points include:
- ARC's proved plus probable reserves totaled 607 million barrels of oil equivalent as of December 31, 2012.
- Between 2012 and 1997, ARC grew its proved plus probable reserves at a compound annual growth rate of 18%.
- ARC replaced over 200% of its 2012 production at a finding and development cost of $9.34 per barrel of oil equivalent.
oneok ONEOK and ONEOK Partners to Present at AGA Financial Forumfinance20
John Gibson, CEO of ONEOK and ONEOK Partners, presented at the American Gas Association Financial Forum. He discussed recent transactions that transformed ONEOK Partners, including the purchase of assets from Koch Industries that doubled the size of ONEOK Partners. He outlined ONEOK Partners' strategy of continued growth through internal projects exceeding $1.5 billion through 2009. Gibson also reviewed financial results for ONEOK and ONEOK Partners, noting distribution growth, unit price increases, and continued focus on maintaining strong balance sheets and credit ratings.
Holly Corporation operates three petroleum refineries in the western United States with a total refining capacity of 107,500 barrels per day. In 2003, Holly acquired the Woods Cross Refinery from ConocoPhillips and increased its overall refining capacity. Holly also purchased an additional interest in the Rio Grande pipeline joint venture and sold its Iatan crude oil gathering system. Holly reported significant increases in sales, income, earnings per share and other financial metrics in 2003 compared to 2002, demonstrating strong financial performance.
Holly Corporation is an independent petroleum refiner and marketer that operates refineries in New Mexico and Utah. In 2005, Holly delivered record earnings of $167.7 million, significantly higher than its 2004 earnings of $83.9 million, due to favorable refining margins. Key accomplishments for Holly in 2005 included repurchasing $100 million of its own stock, completing a $17 million project to upgrade production at its New Mexico refinery, and selling its intermediate pipelines to Holly Energy Partners. Looking ahead, Holly plans further expansion projects at its refineries and is considering new growth opportunities.
ONEOK to Present at Bank of America Conference finance20
John Gibson, CEO of ONEOK, Inc., gave a presentation at the Bank of America Conference in Key Biscayne, Florida on November 14, 2008. The presentation outlined ONEOK's vision as a premier energy company, its diversified assets across the natural gas value chain, and its financial highlights. ONEOK is executing a strategy of rebundling services across the value chain through vertical integration and growth projects at its midstream subsidiary, ONEOK Partners.
George Buckley discusses innovation and growth at 3M. Some key points:
1) 3M had strong sales and earnings growth in Q1 2007, with all business posting sales increases.
2) Buckley outlines 3M's strategy of growing its core businesses, making complementary acquisitions, building new businesses, and focusing on international growth.
3) Buckley emphasizes the importance of innovation, efficiency gains, and focusing on customers to drive profitable growth.
Celanese Corporation reported strong fourth quarter and full year 2005 results, with net sales up 19% and 22% respectively. Adjusted earnings per share for the fourth quarter were $0.60, exceeding guidance, and $2.24 for the full year. Adjusted EBITDA rose 40% for the quarter and 44% for the full year due to higher pricing, productivity improvements, and acquisitions offsetting increased costs. For 2006, the company reaffirmed adjusted EPS guidance of $2.50 to $2.90.
This document provides an investor presentation for Ameren from May 2007. It includes cautionary statements regarding non-GAAP financial metrics, forward-looking statements, and Ameren's strategic focus, legislative issues, earnings guidance for 2007, environmental compliance strategy and costs, and upcoming events on Ameren's calendar.
shaw group 8C04E297-E3DD-4F1E-8BB2-56C5BB51CEDA_SGR_AnnualShareholdersMeeting...finance36
The document summarizes The Shaw Group Inc.'s annual meeting for fiscal year 2008. It provides key financial results including record revenue, EBITDA, net income, and EPS. It also discusses major projects, growth in backlog to $15.6 billion, and guidance for fiscal year 2009 revenues of $7.1-7.3 billion and EPS of $2.50-2.70 per share.
The document is Aetna's 2006 annual report. It discusses Aetna's strong financial results in 2006, with operating earnings per share increasing 29% and total revenues expanding 12%. It highlights Aetna's focus on customer service and innovation, including new decision support tools and the integration of medical, pharmacy and other plans through Aetna Health Connections to improve health outcomes. The report also discusses Aetna's leadership in public policy issues and its priorities going forward to continue growth.
Energias do Brasil reported its third quarter 2007 earnings results in a conference call. The company's CEO, CFO, and investor relations officer presented operating and financial performance for the quarter. Energias do Brasil saw growth in energy distributed and volume sold, while facing challenges from rising costs and expenses. Overall, the company reported higher revenues but lower EBITDA compared to the previous year.
1) SYSCO reported strong sales and earnings growth in fiscal year 2001, with sales topping $20 billion for the first time.
2) Net earnings increased over 30% compared to the previous year, and return on shareholders' equity reached 31%.
3) Growth was driven by acquisitions, internal expansion, and a focus on customer relationships through initiatives like C.A.R.E.S.
The document summarizes Petrobras' activities and investments in Bolivia. It discusses Petrobras' role in developing Bolivia's natural gas fields and infrastructure for exporting gas to Brazil. It notes that a new Bolivian law has nationalized Petrobras' refining and other assets in Bolivia. Petrobras will take legal action to protect its interests and suspend new investments in Bolivia in response to the law.
This document provides a financial review of AES Corporation for the third quarter of 2008. It includes the following key points:
- 2008 and 2009 guidance is updated, with 2008 Adjusted EPS lowered to $1.07 from $1.16 previously and 2009 Adjusted EPS lowered to a range of $1.15-$1.20 from $1.20-$1.25 previously.
- Gross margin, EPS, and cash flows for the third quarter of 2008 were on track based on improved pricing and demand in Latin America.
- The company has several power projects under construction that will provide built-in growth as they become operational through 2011.
- Debt is well-hedged with 93%
Lennar Corporation grew significantly in 1998 through adherence to core values and strategies of operational simplicity, strategic acquisitions, diversified earnings, and balance sheet strength. Key accomplishments included 73% earnings per share growth, reduced homebuilding debt ratio, and 63% increased shareholders' equity. Lennar's simple operating model of focused geographic markets, standardized home features, and emphasis on quality helped drive efficient growth. Acquisitions expanded operations across high-growth states while diversifying earnings. Maintaining a prudent balance sheet positions Lennar for continued long-term growth.
1) The document reports Monsanto's financial results for the fourth quarter and fiscal year 2007, noting record sales and profits.
2) Net income decreased 46% in Q4 2007 compared to Q4 2006, but increased 44% for the fiscal year. Ongoing EPS grew 54% for the fiscal year.
3) Monsanto extended its leadership in seeds and traits in 2007 through various initiatives, and its pipeline has potential blockbuster traits and opportunities for further global expansion of existing biotech traits.
The document discusses metrics for evaluating the performance of a Software as a Service (SaaS) company. It provides financial data for a sample company called BZN, including quarterly revenues, bookings, sales costs, details on large deals signed, renewals, churn, and resulting annual recurring revenues (ARR). It also presents opposing viewpoints from a sales team wanting to invest more in sales versus a CFO concerned about underperformance based on SaaS metrics like declining average ARR per customer.
The global outsourcing industry is constantly evolving through new contracting award characteristics and an expanding universe of successful service providers. ISG's TPI Index helps industry participants, enterprises and organizations keep pace and capitalize from the latest data on outsourcing trends. It is the authoritative source for marketplace intelligence related to outsourcing: transaction structures and terms, industry adoption, geographic prevalence and service provider metrics.
Hexion Chemicals held a conference on March 25, 2008 to discuss its financial results and outlook. The presentation contained forward-looking statements and non-GAAP financial measures with reconciliations provided. Hexion achieved strong revenue and earnings growth in 2007 driven by diversification across segments, geographies, and end markets. Management expects volatility in raw material costs to continue into 2008 and remains focused on productivity initiatives, synergies, and strategic acquisitions to fuel further growth.
This annual report summarizes Sysco Corporation's financial performance for fiscal year 2003. Key highlights include:
- Sales increased 12% to $26.14 billion and net earnings increased 14% to $778.28 million.
- Diluted earnings per share increased 17% to $1.18.
- Return on average shareholders' equity was 36%.
- The company distributed products from 145 locations across North America to over 420,000 customer locations.
The document summarizes a conference call to review the company's financial results for the first quarter of fiscal year 2007. Key highlights included a 14.5% increase in net income compared to the same period last year, driven by increased contributions from nonutility businesses. Earnings per share were up 10% year-over-year. Capital expenditures totaled $65.2 million for maintenance and $21.8 million for growth. The company also completed a common stock offering in December, raising $192 million in net proceeds.
The document summarizes Atmos Energy's financial results for the first quarter of fiscal year 2009. Key points include a 1.2% increase in net income compared to the same period last year, driven primarily by rate increases in several jurisdictions. Capital expenditures totaled $107.4 million for the quarter. Atmos also discusses its credit facilities and liquidity, investment grade credit ratings, and recent rate filings in Louisiana, Dallas and Tennessee.
Atmos Energy Corporation reported earnings for fiscal year 2007. Net income was $168.5 million, up from $147.7 million in fiscal year 2006. Regulated operations contributed $107.9 million of net income in 2007 compared to $79.5 million in 2006. Nonregulated operations contributed $60.6 million of net income in 2007 compared to $68.2 million in 2006. Atmos Energy expects fiscal year 2008 earnings to be between $1.95 to $2.05 per diluted share.
- The document presents information to investors about the company's business overview, strategic overview, and outlook for 2008.
- It highlights the company's two-brand strategy, opportunities to expand revenue sources and maximize profits, and expectations for revenue and earnings growth in 2008.
- Key metrics provided include over 6,900 locations, $5.9 billion in annual revenues, and targets to increase earnings through initiatives like performance excellence projects.
Avis Budget Car Rental provides an overview of its consolidated financial statements and management discussion and analysis for 2006, 2005 and 2004. Key points include:
- Revenues increased 7% in 2006 driven by a 1% increase in rental days and 6% increase in rental rates. However, EBITDA declined 5% due to higher fleet costs.
- International car rental revenues grew 15% in 2006 while EBITDA was flat.
- Truck rental revenues declined 14% and EBITDA declined 56% in 2006 compared to 2005.
- The company incurred $23 million in separation related charges in 2006 associated with its spin-off from Cendant Corporation.
Holly Corporation is an independent petroleum refiner and marketer that operates refineries in New Mexico and Utah. In 2005, Holly delivered record earnings of $167.7 million, significantly higher than its 2004 earnings of $83.9 million, due to favorable refining margins. Key accomplishments for Holly in 2005 included repurchasing $100 million of its own stock, completing a $17 million project to upgrade production at its New Mexico refinery, and selling its intermediate pipelines to Holly Energy Partners. Looking ahead, Holly plans further expansion projects at its refineries and is considering new growth opportunities.
ONEOK to Present at Bank of America Conference finance20
John Gibson, CEO of ONEOK, Inc., gave a presentation at the Bank of America Conference in Key Biscayne, Florida on November 14, 2008. The presentation outlined ONEOK's vision as a premier energy company, its diversified assets across the natural gas value chain, and its financial highlights. ONEOK is executing a strategy of rebundling services across the value chain through vertical integration and growth projects at its midstream subsidiary, ONEOK Partners.
George Buckley discusses innovation and growth at 3M. Some key points:
1) 3M had strong sales and earnings growth in Q1 2007, with all business posting sales increases.
2) Buckley outlines 3M's strategy of growing its core businesses, making complementary acquisitions, building new businesses, and focusing on international growth.
3) Buckley emphasizes the importance of innovation, efficiency gains, and focusing on customers to drive profitable growth.
Celanese Corporation reported strong fourth quarter and full year 2005 results, with net sales up 19% and 22% respectively. Adjusted earnings per share for the fourth quarter were $0.60, exceeding guidance, and $2.24 for the full year. Adjusted EBITDA rose 40% for the quarter and 44% for the full year due to higher pricing, productivity improvements, and acquisitions offsetting increased costs. For 2006, the company reaffirmed adjusted EPS guidance of $2.50 to $2.90.
This document provides an investor presentation for Ameren from May 2007. It includes cautionary statements regarding non-GAAP financial metrics, forward-looking statements, and Ameren's strategic focus, legislative issues, earnings guidance for 2007, environmental compliance strategy and costs, and upcoming events on Ameren's calendar.
shaw group 8C04E297-E3DD-4F1E-8BB2-56C5BB51CEDA_SGR_AnnualShareholdersMeeting...finance36
The document summarizes The Shaw Group Inc.'s annual meeting for fiscal year 2008. It provides key financial results including record revenue, EBITDA, net income, and EPS. It also discusses major projects, growth in backlog to $15.6 billion, and guidance for fiscal year 2009 revenues of $7.1-7.3 billion and EPS of $2.50-2.70 per share.
The document is Aetna's 2006 annual report. It discusses Aetna's strong financial results in 2006, with operating earnings per share increasing 29% and total revenues expanding 12%. It highlights Aetna's focus on customer service and innovation, including new decision support tools and the integration of medical, pharmacy and other plans through Aetna Health Connections to improve health outcomes. The report also discusses Aetna's leadership in public policy issues and its priorities going forward to continue growth.
Energias do Brasil reported its third quarter 2007 earnings results in a conference call. The company's CEO, CFO, and investor relations officer presented operating and financial performance for the quarter. Energias do Brasil saw growth in energy distributed and volume sold, while facing challenges from rising costs and expenses. Overall, the company reported higher revenues but lower EBITDA compared to the previous year.
1) SYSCO reported strong sales and earnings growth in fiscal year 2001, with sales topping $20 billion for the first time.
2) Net earnings increased over 30% compared to the previous year, and return on shareholders' equity reached 31%.
3) Growth was driven by acquisitions, internal expansion, and a focus on customer relationships through initiatives like C.A.R.E.S.
The document summarizes Petrobras' activities and investments in Bolivia. It discusses Petrobras' role in developing Bolivia's natural gas fields and infrastructure for exporting gas to Brazil. It notes that a new Bolivian law has nationalized Petrobras' refining and other assets in Bolivia. Petrobras will take legal action to protect its interests and suspend new investments in Bolivia in response to the law.
This document provides a financial review of AES Corporation for the third quarter of 2008. It includes the following key points:
- 2008 and 2009 guidance is updated, with 2008 Adjusted EPS lowered to $1.07 from $1.16 previously and 2009 Adjusted EPS lowered to a range of $1.15-$1.20 from $1.20-$1.25 previously.
- Gross margin, EPS, and cash flows for the third quarter of 2008 were on track based on improved pricing and demand in Latin America.
- The company has several power projects under construction that will provide built-in growth as they become operational through 2011.
- Debt is well-hedged with 93%
Lennar Corporation grew significantly in 1998 through adherence to core values and strategies of operational simplicity, strategic acquisitions, diversified earnings, and balance sheet strength. Key accomplishments included 73% earnings per share growth, reduced homebuilding debt ratio, and 63% increased shareholders' equity. Lennar's simple operating model of focused geographic markets, standardized home features, and emphasis on quality helped drive efficient growth. Acquisitions expanded operations across high-growth states while diversifying earnings. Maintaining a prudent balance sheet positions Lennar for continued long-term growth.
1) The document reports Monsanto's financial results for the fourth quarter and fiscal year 2007, noting record sales and profits.
2) Net income decreased 46% in Q4 2007 compared to Q4 2006, but increased 44% for the fiscal year. Ongoing EPS grew 54% for the fiscal year.
3) Monsanto extended its leadership in seeds and traits in 2007 through various initiatives, and its pipeline has potential blockbuster traits and opportunities for further global expansion of existing biotech traits.
The document discusses metrics for evaluating the performance of a Software as a Service (SaaS) company. It provides financial data for a sample company called BZN, including quarterly revenues, bookings, sales costs, details on large deals signed, renewals, churn, and resulting annual recurring revenues (ARR). It also presents opposing viewpoints from a sales team wanting to invest more in sales versus a CFO concerned about underperformance based on SaaS metrics like declining average ARR per customer.
The global outsourcing industry is constantly evolving through new contracting award characteristics and an expanding universe of successful service providers. ISG's TPI Index helps industry participants, enterprises and organizations keep pace and capitalize from the latest data on outsourcing trends. It is the authoritative source for marketplace intelligence related to outsourcing: transaction structures and terms, industry adoption, geographic prevalence and service provider metrics.
Hexion Chemicals held a conference on March 25, 2008 to discuss its financial results and outlook. The presentation contained forward-looking statements and non-GAAP financial measures with reconciliations provided. Hexion achieved strong revenue and earnings growth in 2007 driven by diversification across segments, geographies, and end markets. Management expects volatility in raw material costs to continue into 2008 and remains focused on productivity initiatives, synergies, and strategic acquisitions to fuel further growth.
This annual report summarizes Sysco Corporation's financial performance for fiscal year 2003. Key highlights include:
- Sales increased 12% to $26.14 billion and net earnings increased 14% to $778.28 million.
- Diluted earnings per share increased 17% to $1.18.
- Return on average shareholders' equity was 36%.
- The company distributed products from 145 locations across North America to over 420,000 customer locations.
The document summarizes a conference call to review the company's financial results for the first quarter of fiscal year 2007. Key highlights included a 14.5% increase in net income compared to the same period last year, driven by increased contributions from nonutility businesses. Earnings per share were up 10% year-over-year. Capital expenditures totaled $65.2 million for maintenance and $21.8 million for growth. The company also completed a common stock offering in December, raising $192 million in net proceeds.
The document summarizes Atmos Energy's financial results for the first quarter of fiscal year 2009. Key points include a 1.2% increase in net income compared to the same period last year, driven primarily by rate increases in several jurisdictions. Capital expenditures totaled $107.4 million for the quarter. Atmos also discusses its credit facilities and liquidity, investment grade credit ratings, and recent rate filings in Louisiana, Dallas and Tennessee.
Atmos Energy Corporation reported earnings for fiscal year 2007. Net income was $168.5 million, up from $147.7 million in fiscal year 2006. Regulated operations contributed $107.9 million of net income in 2007 compared to $79.5 million in 2006. Nonregulated operations contributed $60.6 million of net income in 2007 compared to $68.2 million in 2006. Atmos Energy expects fiscal year 2008 earnings to be between $1.95 to $2.05 per diluted share.
- The document presents information to investors about the company's business overview, strategic overview, and outlook for 2008.
- It highlights the company's two-brand strategy, opportunities to expand revenue sources and maximize profits, and expectations for revenue and earnings growth in 2008.
- Key metrics provided include over 6,900 locations, $5.9 billion in annual revenues, and targets to increase earnings through initiatives like performance excellence projects.
Avis Budget Car Rental provides an overview of its consolidated financial statements and management discussion and analysis for 2006, 2005 and 2004. Key points include:
- Revenues increased 7% in 2006 driven by a 1% increase in rental days and 6% increase in rental rates. However, EBITDA declined 5% due to higher fleet costs.
- International car rental revenues grew 15% in 2006 while EBITDA was flat.
- Truck rental revenues declined 14% and EBITDA declined 56% in 2006 compared to 2005.
- The company incurred $23 million in separation related charges in 2006 associated with its spin-off from Cendant Corporation.
The document is a presentation by Pat Reddy, SVP and CFO of Atmos Energy Corporation, given at the Wachovia Nantucket Equity Conference on June 26, 2007. It provides an overview of Atmos Energy, including its growth through acquisitions, focus on maximizing core utility earnings, complementary nonutility operations, and recent regulatory and project activities. Forward-looking statements are presented, subject to various risk factors.
Henry Schein is the largest distributor of healthcare products and services to office-based healthcare practitioners in North America and Europe. In 2002, Henry Schein achieved record financial results with net sales of $2.8 billion, operating income of $196 million, and net income of $117 million. The company expects continued growth through increasing penetration of existing customers, gaining new customers, and cross-selling between its business groups that serve the dental, medical, veterinary, and technology markets.
The document is the transcript from an analyst conference held by Atmos Energy Corporation on October 1, 2008. It discusses Atmos Energy's regulated and nonregulated operations. Atmos Energy operates natural gas distribution divisions across 12 states and has a nonregulated pipeline and storage business. It is focused on growing its rate base and earning approved rates of return through capital investments and rate cases.
Atmos Energy Corporation held an analyst conference on February 26, 2009 to discuss forward-looking statements and projections. The company operates regulated natural gas distribution and transmission operations across 12 states as well as nonregulated midstream businesses. It has achieved steady earnings growth per share of over 5% annually through successful rate case strategies and capital investment programs. Management outlined continued growth opportunities in both regulated and nonregulated operations.
1) The document is the presentation for the Lehman Brothers Energy & Power Conference by Robert W. Best, Chairman, President, and CEO of Atmos Energy Corporation on September 6, 2007.
2) Atmos Energy Corporation is a natural gas distribution company operating in 12 states as well as complementary nonutility businesses in 22 states.
3) Atmos has pursued a strategy of growth through acquisitions, successfully integrating over 20 acquisitions, and now serves over 3 million customers, making it the largest pure-gas distribution company in the US.
el paso 129E17E7-B9DE-4351-A90B-947315FA05EF_EP_RayJamesDLF(Orlando)_FinalCo...finance49
Doug Foshee, President and CEO of El Paso Corporation, presented at the Raymond James 30th Annual Institutional Investor Conference on March 10, 2009. El Paso has raised its liquidity to $3.3 billion and reduced capital spending thoughtfully while preserving its exploration and production inventory. For 2009, El Paso has financial targets of $0.85-1.05 EPS, $2.0-2.3 billion EBIT, and $1.7-2.0 billion cash flow from operations. El Paso also has a substantial pipeline backlog expected to generate $1.2 billion in incremental EBITDA.
el paso 129E17E7-B9DE-4351-A90B-947315FA05EF_EP_RayJamesDLF(Orlando)_FinalCo...finance49
Doug Foshee, President and CEO of El Paso Corporation, presented at the Raymond James 30th Annual Institutional Investor Conference on March 10, 2009. El Paso set financial targets for 2009 of $0.85-1.05 EPS, $2.0-2.3 billion EBIT, and $1.7-2.0 billion cash flow from operations. El Paso also discussed its substantial pipeline backlog valued at $8 billion, efforts to reduce construction risk, and plans to focus $0.9-1.3 billion in capital expenditures on lower-risk exploration and production programs in 2009.
el paso 2E961AE6-D8CD-4328-9657-89A97FED03C0_Howard_Weil_032409finance49
El Paso Corporation provides natural gas and related energy products in North America. It has raised its liquidity to $3.3 billion and reduced capital spending thoughtfully in response to market challenges. The company has set 2009 financial targets including EPS of $0.85-1.05 and EBITDA of $3.1-3.3 billion. El Paso has a substantial pipeline backlog of around $8 billion that is expected to generate $1.2 billion in additional EBITDA. The company also has a significant exploration and production portfolio focused on lower-risk programs in its key areas.
el paso 2E961AE6-D8CD-4328-9657-89A97FED03C0_Howard_Weil_032409finance49
El Paso Corporation is an energy company led by President and CEO Doug Foshee. The company provides natural gas and related energy products. It aims to do so in a safe, efficient, and dependable manner. For 2009, El Paso's financial targets include earning $0.85 to $1.05 per share and generating $2.0 to $2.3 billion in EBIT from its pipelines and $0.8 to $0.9 billion from its exploration and production business. The company also aims to spend $2.7 to $3.1 billion on capital expenditures for its pipelines and exploration and production segments. El Paso has substantially increased its liquidity position and expects to have ample liquidity to
The document provides an overview of Pepco Holdings, Inc.'s (PHI) strategy to build shareholder value. PHI aims to increase investment in infrastructure through its Blueprint programs to modernize its electric grid. It also plans growth for its competitive energy businesses, Conectiv Energy and Pepco Energy Services. PHI expects its regulated Power Delivery business to remain the primary driver of earnings, contributing 60-70% of operating income over the planning period through infrastructure investments and favorable regulatory outcomes.
el paso C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509finance49
El Paso Corporation provides natural gas and related energy products. It has raised its liquidity to $3.3 billion and reduced capital spending thoughtfully in response to market challenges. The company has set 2009 financial targets including EPS of $0.85-1.05 and EBIT of $2.0-2.3 billion. It has a large pipeline backlog that is expected to generate $1.2 billion in incremental EBITDA. El Paso also has significant natural gas and oil reserves and is focusing its $0.9-1.3 billion capital budget on lower-risk exploration and production programs.
el paso C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509finance49
El Paso Corporation provides natural gas and related energy products. It has raised its liquidity to $3.3 billion and reduced capital spending thoughtfully in response to market challenges. The company has set 2009 financial targets including EPS of $0.85-1.05 and EBIT of $2.0-2.3 billion. It has a large pipeline backlog that is expected to generate $1.2 billion in incremental EBITDA. El Paso also has significant natural gas reserves and is focusing its $0.9-1.3 billion capital budget on lower-risk exploration and production programs.
The document summarizes Monsanto's financial results for the first quarter of 2007. Some key points:
- Net sales increased 10% to $1.539 billion compared to the first quarter of 2006.
- Gross profit increased 7% to $680 million.
- Net income increased 53% to $90 million.
- Free cash flow decreased 17% to $533 million due to higher working capital needs.
- Early orders signal a strong start towards achieving the company's 2010 trait opportunity goal of expanding corn trait acres. Triple-stacked corn traits in particular are expected to surpass single-trait hybrids for the first time.
The document summarizes Monsanto's financial results for the first quarter of 2007. Some key points:
- Net sales increased 10% to $1.539 billion compared to the first quarter of 2006.
- Gross profit increased 7% to $680 million.
- Net income increased 53% to $90 million.
- Free cash flow decreased 17% to $533 million due to higher working capital needs.
- Early orders signal a strong start for achieving the company's 2010 trait opportunity goals, with over 35% of corn seed sales expected to be triple-stacked hybrids, up from no triple-stacked sales in 2005.
The document summarizes Monsanto's financial results for the first quarter of 2007. Some key points:
- Net sales increased 10% to $1.539 billion compared to the first quarter of 2006.
- Gross profit increased 7% to $680 million.
- Net income increased 53% to $90 million.
- Free cash flow decreased 17% to $533 million due to higher working capital needs.
- Early orders signal a strong start towards achieving the company's trait acreage opportunity by 2010, with over 35% of corn seed sales expected to be triple-stacked hybrids, up from no triple-stacked sales in 2005.
Atlas Resource Partners acquired 277 billion cubic feet equivalent of proved reserves in the Barnett Shale from Carrizo Oil and Gas for $190 million. The acquisition is expected to be accretive to ARP's cash distributions in the second half of 2012 and 2013. ARP has hedged 100% of the available production from the acquired assets in the first year and substantial amounts in subsequent years. The transaction more than doubles ARP's proved reserves and enhances the long-lived nature of its asset base.
- Atmos Energy Corporation reported fiscal year 2008 earnings of $180.3 million, or $2.00 per share, compared to $168.5 million, or $1.92 per share in fiscal year 2007.
- Regulated operations contributed $134.1 million or $1.49 per share in 2008, up from $107.9 million or $1.23 per share in 2007.
- Nonregulated operations contributed $46.2 million or $0.51 per share in 2008, down from $60.6 million or $0.69 per share in 2007, due to a less volatile natural gas market.
- The company affirmed its fiscal year 2009 earnings guidance of $2
shaw group 8C04E297-E3DD-4F1E-8BB2-56C5BB51CEDA_SGR_AnnualShareholdersMeeting...finance36
The document summarizes The Shaw Group Inc.'s annual meeting for fiscal year 2008. It provides key financial results including record revenue, EBITDA, net income, and EPS. It also discusses major projects, growth in backlog to $15.6 billion, and guidance for fiscal year 2009 revenues of $7.1-7.3 billion and EPS of $2.50-2.70 per share.
This document provides forward-looking statements and non-GAAP financial information for Monsanto's investor day on November 10, 2005. It includes reconciliations of free cash flow, non-GAAP EPS, and return on capital for fiscal years 2004-2007. The document also notes that references to fiscal years refer to Monsanto's year ending August 31 and lists several of Monsanto's trademarks.
Doug Foshee, President and CEO of El Paso Corporation, presented at a Bank of America investment conference on September 19, 2006. El Paso operates leading natural gas pipelines in the US, with 26% of total interstate pipeline mileage and a $3 billion growth project portfolio. Foshee discussed El Paso's industry-leading pipeline integrity program and its commitment to safety, expansion, and delivering natural gas in a reliable manner.
Doug Foshee, President and CEO of El Paso Corporation, presented at a Bank of America investment conference on September 19, 2006. El Paso operates leading natural gas pipelines in the US, with 26% of total interstate pipeline mileage and a $3 billion growth project portfolio. Foshee emphasized El Paso's industry-leading pipeline integrity program and commitment to safety, as well as projected 4-6% EBITDA growth over the next 3-5 years through expansion projects.
The document provides information about Occidental Petroleum Corporation (Oxy), including its corporate headquarters locations, subsidiaries, and contact information. It then discusses Oxy's financial performance in 2007, noting that it achieved record net income of $5.4 billion. The document also summarizes Oxy's operations and production, with the United States, Middle East/North Africa, and Latin America making up its three core regions.
This financial review provides operating and financial information for Northeast Utilities (NU) and its subsidiaries through June 30, 2008. Key information includes:
- NU's consolidated revenues for 2007 were $5.822 billion and operating income was $539 million.
- The largest subsidiary, The Connecticut Light and Power Company (CL&P), had revenues of $3.682 billion in 2007 and operating income of $285 million.
- Financial information such as sales, revenues, income, capitalization, debt ratings and dividend payments are presented for NU, CL&P and other subsidiaries from 2007 back to 2003.
1. The 2008 Annual Meeting of Shareholders of Northeast Utilities will be held on May 13, 2008 at 10:30am at the offices of Public Service Company of New Hampshire.
2. Matters to be voted on include electing 12 trustee nominees and ratifying the selection of Deloitte & Touche LLP as the independent auditors for 2008.
3. Directions to the meeting location in Manchester, NH are provided. Shareholders are urged to vote their shares whether attending the meeting or not.
- Net sales increased significantly from $4.74 billion in 1999 to $7.13 billion in 2000. Net income increased slightly from $515.8 million in 1999 to $422 million in 2000.
- The Telecommunications segment saw the largest increase in revenues from $2.96 billion in 1999 to $5.12 billion in 2000, driving the overall revenue growth.
- Pro forma diluted earnings per share, which excludes certain one-time items, increased from $0.67 in 1999 to $1.23 in 2000 despite a smaller increase in net income, reflecting share repurchases.
This annual report summarizes Corning Inc.'s financial performance in 2001, which saw a significant downturn from 2000 due to challenging conditions in the telecommunications sector and global economic weakness. Net sales fell 12% to $6.3 billion and the company reported a net loss of $5.5 billion compared to net income of $409 million in 2000. Corning took actions to reduce costs, including eliminating 12,000 jobs and closing plants. However, the company ended 2001 with $2.2 billion in cash and believes it is well positioned financially and strategically for long-term growth opportunities in key markets like optical fiber and displays.
The annual report summarizes Corning's financial performance in 2002, a challenging year due to the downturn in the telecommunications industry. Corning reported a net loss of $1.3 billion on sales of $3.2 billion, down significantly from 2001. In response, Corning restructured operations, cutting costs and jobs to preserve its financial position. It aims to return to profitability in 2003 by focusing on growing its display glass, environmental, and semiconductor businesses within Corning Technologies. While telecommunications remains weak, Corning maintains its leadership in optical fiber and intends to benefit when the market rebounds.
Corning Inc. is a 152-year-old diversified technology company that focuses on high-impact growth opportunities through specialty glass, ceramics, polymers, and light manipulation. It develops innovative products for telecommunications, displays, environmental, life sciences, semiconductors, and other materials markets. The 2003 annual report discusses priorities of protecting financial health, returning to profitability, and continuing to invest in the future. It emphasizes growth through global innovation, achieving balance and stability, and preserving trust through living the company's values.
The document is Corning's 2006 Annual Report and 2007 Proxy Statement. It provides an overview of Corning's financial performance and highlights in 2006, including record net income and earnings per share. It discusses Corning's strategies of protecting financial health, improving profitability, and investing in the future. It also outlines Corning's leadership transition with Wendell Weeks becoming Chairman and CEO and Peter Volanakis becoming President. Key financial figures for 2006 show net sales of $5.17 billion and net income of $1.85 billion, up significantly from 2005.
Corning Inc. reported strong financial performance in its 2007 Annual Report. Net income reached an all-time high of $2.15 billion, up 16% from 2006. Sales increased 13% to $5.86 billion, driven by high demand for LCD glass and new diesel filtration products. Corning also achieved records for earnings per share at $1.34 and operating cash flow at $2.1 billion. The report discusses Corning's strategy of focusing on innovation to drive growth, maintaining financial stability, and improving business portfolio balance. Key accomplishments in 2007 included expanding LCD glass capacity and developing innovations in optical fiber and life sciences technologies.
Corning posted record performance in the first half of 2008 but experienced weak performance in the second half due to the global recession. While sales were up 21% in the first half, they declined 30% in the fourth quarter compared to the third quarter and previous year. Corning implemented cost-cutting measures like job cuts and spending reductions to prepare for a weak 2009. However, Corning remains confident in its long-term strategies and innovative products to drive future growth once the economy recovers.
Atmos Energy Corporation is a natural gas distribution and pipeline company headquartered in Dallas, Texas. In fiscal year 2008, the company reported $180.3 million in net income on $7.2 billion in operating revenues. Atmos Energy distributes natural gas to 3.2 million customers across 12 states and owns one of the largest intrastate pipeline systems in Texas. The company has grown through acquisitions, adding over 2.9 million customers since 1983, and pursues a strategy of growing its regulated and complementary nonregulated natural gas businesses.
Atmos Energy Corporation will host a conference call on February 4, 2009 at 8:00 am ET to discuss its fiscal 2009 first quarter financial results. Atmos Energy, headquartered in Dallas, is the largest natural gas-only distributor in the US, serving about 3.2 million customers across 12 states. Interested parties can access the conference call by dialing 800-218-0204 or listening online at Atmos Energy's website, where an archive of the call will also be made available until April 30, 2009.
Atmos Energy Corporation reported earnings for the first quarter of fiscal year 2009. Net income was $76.0 million, up slightly from $73.8 million in the prior year. Regulated gas distribution operations contributed $57.8 million in net income, up 25% from the prior year. The company affirmed its fiscal year 2009 earnings guidance of $2.05 to $2.15 per share, excluding mark-to-market impacts. Capital expenditures for the year are expected to be $500-$515 million.
Atmos Energy Corporation declared a quarterly dividend of 33 cents per share to shareholders of record on February 25, 2009. This marks the company's 101st consecutive quarterly dividend. Atmos Energy is the country's largest natural-gas-only distributor, serving about 3.2 million customers across 12 states. It also provides natural gas marketing and pipeline management services.
Fred Meisenheimer was promoted to senior vice president and chief financial officer of Atmos Energy Corporation. Meisenheimer has been acting as interim CFO since January 1, 2009. He joined Atmos Energy in 2000 as vice president and controller and has made valuable contributions to the company's success over eight years. Prior to joining Atmos Energy, Meisenheimer held financial and accounting roles at other energy companies.
Atmos Energy Corporation is a natural gas distribution and pipeline company headquartered in Dallas, Texas. In fiscal year 2008, the company reported $180.3 million in net income on $7.2 billion in operating revenues. Atmos Energy distributes natural gas to 3.2 million customers in 1,600 communities across 8 states. The company has grown significantly through acquisitions, adding over 2.7 million customers since 1983. Atmos Energy aims to continue growing its regulated natural gas distribution operations and complementary nonregulated energy businesses.
This document provides an overview of the nonutility operations of Atmos Energy Corporation. It discusses the corporate structure and business segments, including gas marketing, pipeline and storage, and other nonutility operations. It then provides more detailed descriptions of the storage business models, including proprietary storage, full requirements storage, billable plan storage, and parking and loaning transactions. The storage business models are explained in terms of associated risks, risk management strategies, and impact on margins.
The document discusses forward-looking statements and risks associated with them. It provides an overview of Atmos Energy, including its scope of operations across 12 states in the utility segment and 22 states in the nonutility segment. It also summarizes Atmos Energy's financial and operational performance over time, including earnings growth, dividend increases, and acquisition history such as the purchase of TXU Gas.
A conference call was scheduled for February 8, 2006 at 8:00 am EST to review the company's fiscal 2006 first quarter financial results. The company reported a net income of $100 million, up 19% from the prior year quarter. Earnings per share were $0.88, up 11% from the previous year. Key drivers included a contribution from acquisitions and weather that was colder than the prior year. The utility segment saw higher throughput and gross profit.
The document summarizes a conference call to review the company's fiscal 2006 second quarter financial results. Key points from the quarter include a 1.3% increase in net income compared to the prior year quarter, driven by higher contributions from the natural gas marketing segment due to favorable storage and marketing positions. Earnings per share increased 1.3% while operating expenses rose due to higher employee, bad debt, and regulatory costs. Weather during the quarter was warmer than normal, negatively impacting utility throughput.
The document discusses a conference call to review the company's fiscal 2006 third quarter financial results. It provides details on the company's net income, earnings per share, capital expenditures, and performance by business segment for the quarter. The company reported a net loss for the quarter, driven by unrealized mark-to-market losses in natural gas marketing and warmer than normal weather across many utility divisions.
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In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Bridging the gap: Online job postings, survey data and the assessment of job ...
2007_NY-printable
1. Atmos Energy Corporation
Analyst Conference
December 2007
Forward Looking Statements
The matters discussed or incorporated by reference in this presentation may contain
“forward-looking statements” within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than
statements of historical fact included in this presentation are forward-looking statements
made in good faith by the company and are intended to qualify for the safe harbor from
liability established by the Private Securities Litigation Reform Act of 1995. When used
in this presentation or in any of our other documents or oral presentations, the words
“anticipate,” “believe,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “objective,” “plan,”
“projection,” “seek,” “strategy” or similar words are intended to identify forward-looking
statements. Such forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially from those discussed in this presentation,
including the risks relating to regulatory trends and decisions, our ability to continue to
access the capital markets, and the other factors discussed in our filings with the
Securities and Exchange Commission. These factors include the risks and uncertainties
discussed in our Annual Report on Form 10-K for the fiscal year ended September 30,
2007. Although we believe these forward-looking statements to be reasonable, there can
be no assurance that they will approximate actual experience or that the expectations
derived from them will be realized. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or
otherwise.
Further, we will only update earnings guidance through our quarterly and annual
earnings releases. All estimated financial metrics for fiscal year 2008 and beyond that
appear in this presentation are current as of the date noted on each relevant slide.
2
2. Management Participants
Robert W. Best - Chairman, President & CEO
J. Patrick Reddy - Senior VP & CFO
Kim Cocklin - Senior VP, Regulated Operations
Mark H. Johnson - Senior VP, Nonregulated Operations
Susan Giles- VP, Investor Relations
3
Atmos Energy Today
Robert W. Best
Chairman, President & CEO
4
3. Overview
Company Profile
The nation’s largest pure-gas distribution company
Solid financial foundation
Track record of creating shareholder value
• Consistent earnings growth
• 24 consecutive years of increasing dividends
Focused strategy over time
• Grow through prudent acquisitions
• Maximize core regulated, natural gas distribution
earnings capability
• Complement core distribution business through select
nonregulated operations
5
Overview
Scope of Operations
Regulated gas distribution operates in 12 states (gold)
Nonregulated operates in 22 states (gray)
6
4. Overview
Atmos Energy Corporation
Atmos Energy Corporation
(Regulated Operations)
(Regulated Operations) Atmos Energy Holdings, Inc.
Atmos Energy Holdings, Inc.
Gas Distribution Divisions
Gas Distribution Divisions
Transmission & Storage (Nonregulated Operations)
Transmission & Storage (Nonregulated Operations)
Colorado-Kansas
Colorado-Kansas
Atmos Energy Marketing
Atmos Energy Marketing
Kentucky/Mid-States
Kentucky/Mid-States • • Marketing
Marketing
• • Asset Optimization
Asset Optimization
Louisiana
Louisiana
Atmos Pipeline, Storage
Atmos Pipeline, Storage
Mid-Tex
Mid-Tex & Other
& Other
• • Non-Texas Assets (Storage & Pipeline)
Mississippi Non-Texas Assets (Storage & Pipeline)
Mississippi • • Midstream
Midstream
• • Other
Other
West Texas
West Texas
Atmos Pipeline -Texas
Atmos Pipeline -Texas
7
Overview
Successful Acquisition History
Acquisition Company Customers Purchase
Date Acquired Acquired Price $ (000s)
1986 Trans Louisiana Gas 69,000 44,100
1987 Western Kentucky Gas 147,000 85,100
1993 Greeley Gas Company 98,000 111,717
1997 United Cities Gas Co 307,000 469,485
2000 ANG Missouri Assets 48,000 32,000
2001 55% interest in Woodward - 26,657
2001 Louisiana Gas Service 279,000 363,399
2002 Mississippi Valley Gas 261,500 220,200
2004 ComFurT Gas Inc. 1,800 2,000
2004 TXU Gas Company 1,500,000 1,916,696
8
5. Overview
Diluted Earnings Per Share Contribution Shows Steady Growth
%
R 6.1 $1.95-$2.05
CAG $1.92
$2.10 $1.82
$1.72
$1.58
$1.80
0.59-0.61
Nonregulated
0.69
0.34
$1.50
Operations
0.84
0.42
$1.20 Regulated
Operations
$0.90
1.36-1.44
1.38
1.23
$0.60 1.16
0.98
$0.30
$0.00
2004 2005 2006 2007 2008E
9
Overview
Regulated Operating Income Moving Towards Historic Levels
Estimated to be 80% in Fiscal 2008
1% 4% 5% 4%
100%
12% Nonregulated Pipeline,
16%
19%
27% Storage & Other
80% 19%
20% Nonregulated Natural Gas
20%
16%
60% Marketing
Regulated Transmission
68%
40% 60% & Storage
53% 56%
Regulated Gas
20%
Distribution
0%
2005 2006 2007 2008E
10
6. Overview
Successfully Executing on the Rate Strategy
GRIP/
Purchased Accelerated Decoupling/ Gas Cost
Number of Percentage Gas Cost Capital Rate Bad Debt
Customers of Total Adjustments WNA Recovery Stabilization Recovery
4
1,800,000
Texas 57% Partial
Louisiana 350,000 11%
Mississippi 270,000 8%
Remaining
1 2 3 5
Jurisdictions 770,000 24% Partial
Partial Partial
Partial means applicable within certain jurisdictions within the category.
1
Excludes Colorado, Iowa and Illinois for a total of 137,657 customers.
2
Includes Missouri, Kansas and Georgia for a total of 258,102 customers.
3
Includes Missouri for a total of 59,672 customers.
4
Includes Amarillo for a total of 69,772 customers.
5
Includes Kansas and Virginia for a total of 151,545 customers.
11
Overview
Annual Dividend for the Years 1984 – 2008E
$1.30E
$1.40
$1.20
$1.00
$0.80
$0.60
$0.40
$0.20
$0.00
'8
'8
'8
'8
'8
'8
'9
'9
'9
'9
'9
'9
'9
'9
'9
'9
'0
'0
'0
'0
'0
'0
'0
'0
'0
4
5
6
7
8
9
0
1
2
3
4
5
6
7
8
9
0
1
2
3
4
5
6
7
8
Note: Amounts are adjusted for mergers and acquisitions. For fiscal 2008, $1.30 is the indicated annual dividend.
12
8. Overview
Investment Grade Credit Ratings
Moody’s Rating
Senior Unsecured Debt: Baa3
Commercial Paper: P-3
Outlook: stable
Standard & Poor’s
Senior Unsecured Debt: BBB
Commercial Paper: A-2
Outlook: positive
Fitch
Senior Unsecured Debt: BBB+
Commercial Paper: F-2
Outlook: stable
15
Overview
In Summary: Achievements and Priorities
Fiscal 2007 Achievements
(1) Increased earnings per share by 5.5%
(2) Paid cash dividends for the 23rd consecutive year
(3) Regained debt capitalization target of 50-55%
(4) Received $40 million of rate increases in regulated operations
(5) Commenced Park City low-pressure gas gathering project in Kentucky
Fiscal 2008 Priorities
(1) Deliver earnings objective of $1.95 - $2.05 per diluted share
(2) Preserve our progress in strengthening the balance sheet
(3) Seek improved rate design mechanisms to cure earnings deficiencies in
regulated operations
(4) Identify, review, and develop internal projects in nonregulated businesses
that provide above-average financial returns
16
9. Regulated Operations
Kim Cocklin
Senior VP, Regulated Operations
17
Regulated Operations
Atmos Energy Corporation
Atmos Energy Corporation
(Regulated Operations)
(Regulated Operations) Atmos Energy Holdings, Inc.
Atmos Energy Holdings, Inc.
Gas Distribution Divisions
Gas Distribution Divisions
Transmission & Storage (Nonregulated Operations)
Transmission & Storage (Nonregulated Operations)
Colorado-Kansas
Colorado-Kansas
Atmos Energy Marketing
Atmos Energy Marketing
Kentucky/Mid-States
Kentucky/Mid-States • • Marketing
Marketing
• • Asset Optimization
Asset Optimization
Louisiana
Louisiana
Atmos Pipeline, Storage
Atmos Pipeline, Storage
Mid-Tex
Mid-Tex and Other
and Other
• • Non-Texas Assets (Storage & Pipeline)
Non-Texas Assets (Storage & Pipeline)
Mississippi
Mississippi • • Midstream
Midstream
• • Other
Other
West Texas
West Texas
Atmos Pipeline -Texas
Atmos Pipeline -Texas
18
10. Regulated Natural Gas Distribution
Profit Drivers in the Distribution Business
Regulated Gas Distribution Operates in 12 States (gold)
Customer and meter
growth
Growing rate base
• Estimated rate base at
9/30/07 was $3.4 billion
Managing costs
Executing our rate
strategy
19
Regulated Natural Gas Distribution
Mid-Tex Division
Largest Atmos division; serves about
550 communities
Largest natural gas distributor in Texas
Over 28,300 miles of distribution pipe
Weather normalization in place from
November - April
Accelerated capital recovery through
annual GRIP filings
$52 million rate case pending
Authorized Effective Date
Rate Base Authorized Debt/Equity of Last Rate
Jurisdiction Meters ($ thousands) ROE Ratio Action
Mid-Tex 1,518,119 1,043,857 10.00% 52/48 04/01/07
Meter count as of 9/30/07. Remaining rate statistics are as of the last rate case indicated.
20
11. Regulated Natural Gas Distribution
West Texas Division
Serves about 80 communities
Over 14,600 miles of distribution pipe
Weather normalization in place from
October - May
Accelerated capital recovery through
annual GRIP filings
Recovery of gas cost portion of bad
debt expense in Amarillo
Authorized Effective Date
Rate Base Authorized Debt/Equity of Last Rate
Jurisdiction Meters ($ thousands) ROE Ratio Action
Amarillo 69,772 36,844 12.00% 50/50 09/01/03
Lubbock 73,672 43,300 11.25% 50/50 03/01/04
West Texas 165,919 87,500 10.50% 50/50 05/01/04
Meter count as of 9/30/07. Remaining rate statistics are as of the last rate case indicated in each jurisdiction.
21
Regulated Natural Gas Distribution
Louisiana Division
Serves about 300 communities
Over 8,200 miles of distribution pipe
Weather normalization in place from
December - March
Rates updated annually through
stable rate filings
Authorized Effective Date
Rate Base Authorized Debt/Equity of Last Rate
Jurisdiction Meters ($ thousands) ROE Ratio Action
Trans LA 79,985 96,848 10.00 – 10.80% 52/48 04/01/07
LGS 277,497 207,587 10.40% 52/48 07/01/07
Meter count as of 9/30/07. Remaining rate statistics are as of the last rate case indicated in each jurisdiction.
22
12. Regulated Natural Gas Distribution
Mississippi Division
Serves about 110 communities
Over 6,400 miles of distribution pipe
Weather normalization in place from
November - April
Rates updated annually through
stable rate filings
Authorized Effective Date
Rate Base Authorized Debt/Equity of Last Rate
Jurisdiction Meters ($ thousands) ROE Ratio Action
Mississippi 270,980 196,801 9.80% 47/53 01/01/05
Meter count as of 9/30/07. Remaining rate statistics are as of the last rate case indicated.
23
Regulated Natural Gas Distribution
Colorado-Kansas Division
Serves about 170 communities
Over 6,600 miles of distribution pipe
Weather normalization in Kansas
from October - May
$5 million rate case pending in
Kansas
Authorized Effective Date
Rate Base Authorized Debt/Equity of Last Rate
Jurisdiction Meters ($ thousands) ROE Ratio Action
Colorado 109,860 84,711 11.25% 52/48 07/01/05
Kansas 127,824 * * 03/01/04
*
* Not included in state commission’s final decision.
Meter count as of 9/30/07. Remaining rate statistics are as of the last rate case indicated in each jurisdiction.
24
13. Regulated Natural Gas Distribution
Kentucky/Mid-States Division
Serves over 420 communities in 7 states
Over 12,000 miles of distribution pipe
Weather normalization in 4 states
• Georgia from October - May
• Kentucky from November - April
• Tennessee from November - April
• Virginia from January - December
Decoupling rate mechanism in Missouri
Accelerated capital recovery in Missouri
and Georgia
Recovery of gas cost portion of bad debt
expense in Virginia
Authorized Effective Date
Rate Base Authorized Debt/Equity of Last Rate
Jurisdiction Meters ($ thousands) ROE Ratio Action
Georgia 70,606 62,380 10.13% 55/45 12/20/05
Illinois 23,342 24,564 11.56% 67/33 11/01/00
Iowa 4,455 5,000 11.00% 57/43 03/01/01
Kentucky 177,988 * * * 08/01/07
Missouri 59,672 * * * 03/04/07
Tennessee 133,715 186,506 10.48% 56/44 11/04/07
Virginia 23,721 30,672 9.50-10.50% 52/48 08/01/04
* Not included in state commission’s final decision.
Meter count as of 9/30/07. Remaining rate statistics are as of the last rate case indicated in each jurisdiction. 25
Regulated Natural Gas Distribution
Stabilizing Natural Gas Distribution Margin Sensitivity
Weather Normalization Adjustment (WNA) for Mid-Tex and Louisiana divisions became effective for the 2006-2007 winter
heating season, which reduced margin exposure to weather from 17 percent to 5 percent
With the rate design changes effective for the 2007-2008 winter heating season, weather-sensitive margin is expected to
be further reduced to about 3 percent
2004–2006 2006–2007 2007–2008E
Heating Season Heating Season
Heating Season
(Post Mid-Tex)
3%
5%
17%
95% 97%
83%
Non-Weather Sensitive Margin Weather Sensitive Margin
* Non-weather sensitive margin includes weather-normalized margins, monthly fixed charges and gas consumption that is
not correlated to weather - gas clothes dryer, gas water heater, gas cooking, etc. 26
14. Regulated Natural Gas Distribution
Gas Distribution Gross Profit per Meter
$340
320-325
$320
$ per meter
299 299
$300 293 291
287
$280
271
$260
$240
2002 2003 2004 2005 2006 2007 2008E
11% 13%
6% 1% 4% Normal Normal
warmer warmer warmer
warmer colder
27
Regulated Natural Gas Distribution
Managing Capital Expenditures at the LDC
($ millions)
$254-$260
$250 $250
Depreciation Expense
Capital Expenditures
$51
$200 $200
$184
$150 $150
$91-$94
$100 $100
$50 $50
$0 $0
2002 2003 2004 2005 2006 2007 2008E
Non-Growth Growth Depreciation 28
15. Regulated Natural Gas Distribution
Leading Efficiency Metrics vs. Peers
Distribution O&M Expense Customers Served per
Distribution Employee
per Customer
$250 800
$200 713
600
$202
588
$150
400
$119
$100
200
$50
0
$0
Atmos Energy Peer Group Avg.
Atmos Energy Peer Group Avg.
Note: Results are based on fiscal 2007 performance for Atmos and most recent information available for the peer group.
Companies in the peer group include AGL Resources, Laclede, New Jersey Resources, Nisource, Northwest Natural Gas, Oneok,
Piedmont Natural Gas, Southwest Gas and WGL Holdings.
29
Regulated Operations
Approved Annual Rate Increases in the Regulated Operations
$60.0 $50 - $60
$50.0
$40.1
($ Millions)
$39.0
$40.0 2.9
1.4
$30.0
25.6
$18.6
34.3
$20.0 $16.2
2.8
5.7
$10.0 $6.3
15.8
11.6
1.8
10.5
4.5 3.3
$0.0
2003 2004 2005 2006 2007 2008-2012E
Annual Mechanism GRIP General Rate Case Aggregate 30
16. Regulated Operations
Upside ROE Potential in Regulated Distribution and Pipeline Operations
Regulatory Return
on Equity %
10.0 ALLOWED ROE – 10.2%
Regulatory lag, inflation, etc.
9.3
8.0 POTENTIAL ROE – 8.0 %
7.7 7.5
6.0
4.0
2.0
2005 2006 2007
ACTUAL Earned Regulatory ROE %
Note: Calculations are based on regulatory accounting treatment and are not consistent with GAAP accounting
31
Regulated Transmission and Storage
Atmos Pipeline -Texas
Favorably positioned; spans
Texas gas supply basins and
growing consumer market
Pipeline Operations
• Connects to major market hubs-
Waha, Katy and Carthage
• 6,300 miles of intrastate pipeline
• Estimated transportation volume of
740 Bcf in fiscal 2008
• Current average volume of
approximately 2.0 Bcf/d
• Demonstrated peak day deliveries
of 3.5 Bcf/d
Five Storage Facilities
• One salt cavern, four reservoirs
West Texas Division • 39 Bcf working gas capacity
• 1.2 Bcf/d maximum withdrawal
Mid-Tex Division
• 270 MMcf/d maximum injection
Atmos Pipeline-Texas
Atmos Energy Headquarters
32
17. Regulated Transmission and Storage
Atmos Pipeline - Texas Business Flow
Customers Margins Potential Risk Risk Management
Atmos Mid-Tex Division Tariff Based Rates Weather Seamless Performance
Industrial Tariff Based Rates Weather Strong Customer Service
Credit Exposure Timely & Accurate Information
Electric Generation Market Based Rates Weather Enforceable Contract Language
ERCOT Strong Customer Service
Competition Flexible Value Added Service
Through System Market Based Rates Basis Differentials Timely Information
Competition Marketing Excellence
Available Capacity Market Knowledge
Other Market Based Rates Basis Differentials Strong Customer Service
Competition Volume Monitoring
Available Capacity Market Knowledge
Maintain/Increase Margins + Increased Throughput + Managed Risk Profile = Stable Earnings Growth
33
Regulated Transmission and Storage
Atmos Pipeline - Texas Transportation Mix
APT Revenue Sources APT Transport Volumes
2008E
2008E
Mid-Tex Mid-Tex
Elec Gen Elec Gen
Other
Transport
Transport
7% 10%
Other
14%
25%
49% 10%
Industrial
Industrial
4%
5%
Pipeline-Thru
Pipeline-Thru
System
System
51%
25%
Firm storage and transportation services to Mid-Tex and other LDCs
Interruptible transportation and ancillary services to other customer classes
Capacity growth opportunities with timely recovery through GRIP
• Provides reliability for Mid-Tex distribution customers
Strategically positioned to serve growing producer needs in Texas
34
18. Regulated Transmission and Storage
Atmos Pipeline - Texas Growth Drivers
735-745
699
750
Growth Drivers
Transportation Volumes
581
555
600
Pursue capacity and
547-550
compression growth
505
450
(Bcf)
411
opportunities such as Opelika
374
300
compressor relocation
150 1188-195
194
Increased through-system
181 170
volumes primarily from
0
2005 2006 2007 2008E
producers in Barnett Shale
Mid Tex Division Third Party
Margin expansion through
200 172-177
ancillary services such as
163
Margin Composition
175
parking and lending, balancing,
141
138
150
($millions)
blending, and compression
78-81
78
125
64
60
Gas price volatility increasing
100
basis differentials between
75 94-96
85
Texas hubs
50 78 77
25
0
2005 2006 2007 2008E
Tariff Based Market Based 35
Regulated Transmission and Storage
Atmos Pipeline-Texas Recent Capacity Enhancement Projects
Project Volume Start Date
(MMcf/d)
225 1
North Side Loop Phase 1: December 2005
Phase 2: July 2006
Howard Compression 150 August 2006
Katy Compression 50 July 2006
1
Huckabay Compression 85 July 2007
150 2
DFW Airport September 2007
2
Opelika Compression >30 July 2008 Estimate
1
2007 partial year; 2008 full year
2
2008 partial year; 2009 full year
36
19. Regulated Transmission and Storage
Atmos Pipeline -Texas Opelika Project
Project relocates idle compression from existing
properties and provides much needed supply support to
East Texas
• Adds critical capacity for Mid-Tex winter load requirement
• Secures industrial customers by providing gas source options
Capital expenditure estimated at about $6 million
Minimum estimated ROR of 12.8%
30,000 Mmbtu/d capacity
37
Regulated Transmission and Storage
Barnett
Shale
y
alle
on V
Cott
sier
Bos s
d
San
Permian
Location of gas
supply basins
38
20. Nonregulated Operations
Mark Johnson
Senior VP, Nonregulated Operations
39
Nonregulated Operations
Organization Structure
Atmos Energy Corporation
Atmos Energy Corporation
(Regulated Operations)
(Regulated Operations) Atmos Energy Holdings, Inc.
Atmos Energy Holdings, Inc.
Gas Distribution Divisions
Gas Distribution Divisions
Transmission & Storage (Nonregulated Operations)
Transmission & Storage (Nonregulated Operations)
Colorado-Kansas
Colorado-Kansas
Atmos Energy Marketing
Atmos Energy Marketing
Kentucky/Mid-States
Kentucky/Mid-States • • Marketing
Marketing
• • Asset Optimization
Asset Optimization
Louisiana
Louisiana
Atmos Pipeline, Storage
Atmos Pipeline, Storage
Mid-Tex and Other
Mid-Tex and Other
• Non-Texas Assets (Storage & Pipeline)
• Non-Texas Assets (Storage & Pipeline)
Mississippi • • Midstream
Mississippi Midstream
• • Other
Other
West Texas
West Texas
Atmos Pipeline -Texas
Atmos Pipeline -Texas
40
21. Nonregulated Operations
Market Overview Business Reason
Impact
Positive Leases or manages storage
Increased availability and demand for
and pipeline assets
pipeline and storage assets
AEH has assets, experience
Positive
Dampened price volatility expected and proven strategy to capture
arbitrage value as prices vary
LNG business is ramping up with more Additional source of low cost
Positive
gas expected from imports supply for customers; AEM has
large takeaway capacity in Gulf.
Neutral
Tighter credit may result in consolidation Potential to increase market share;
or exit of small regional marketers. offset by higher credit costs
Improved credit quality of
Neutral
Large financial institutions entering
potential counterparties; offset
physical gas marketing and trading
by increased competition and
business (primarily acquisitions)
lower margins
New entrants and business growth Neutral Talent loss risk; offset by strong
creating highly competitive market for culture and competitive
talent compensation package
Sustained higher natural gas prices Neutral New sources of gas supply;
supporting new drilling and production offset by collections risk and
working capital impact
Negative
Increased storage and transportation Requires greater asset
lease costs optimization margins 41
Nonregulated Operations
Business Mix
Core Business Core Business Growth Business
Asset Optimization Mid-Stream Development
Delivered Gas
Business
Extract (optimize) the value of
Aggregate & Purchase Gas Gather, process and store
Services owned, leased or managed
Supply, Transport, producer volumes for
storage and transportation
Storage/Load Balancing, downstream delivery to
assets as markets provide
Risk Management and other markets.
opportunities via price
bundled services
volatility
Capture additional value of Develop or acquire gathering,
Strategy Find cost effective sources
storage and transportation processing or storage assets
of gas and deliver to
assets thru arbitrage and that will provide steady,
customers reliably and at a
segmenting strategies, predictable income and support
competitive price.
within risk limits. marketing opportunities.
Provide creative solutions
Expand leased storage and Reduce gas costs through
and services to meet
transportation capacity thru value-added services provided
customers gas requirements
new customer relationships to producers.
More predictable margins
Variable margins, with upside. Stable, fee-based income.
Margins from primarily 90 day to 365
Driven by gas price volatility Driven by gathering,
day contracts
creating arbitrage potential, processing, and storage
Driven by customer demand physical storage capabilities, services.
for gas volumes, services costs and available storage
and competition. and transport capacity.
42
22. Nonregulated Operations
Atmos Energy Marketing – Business Flow
Aggregate and Purchase Transportation and Storage Logistics Sales to Markets
Base Commodity
Marketing Transactions - Fixed Price
- Hedge forward
Customers
- Current Month
- Baseload sales (approx 1,100)
- Index Price
- Bundled sales • Utilities
- Flat/Plus/Minus
- Peaking sales
• Municipals
Storage/Transport/Basis
- Balancing services
• Industrials
- Risk Management - Asset Managed
• Marketers
- Other
- Proprietary • Power Generators
• Large Commercial
43
Nonregulated Operations
Atmos Energy Marketing - Target Growth Markets
About 1,100
customers
Target market is
Atmos Energy’s
natural gas
distribution footprint
Focus on areas
where we manage,
lease or own storage
and transportation
assets.
Regional offices
allow for more direct
customer access
44
23. Nonregulated Operations
Atmos Energy Marketing – Asset Optimization
The portfolio of assets (transportation & storage) that AEM manages is leased or
derived from various asset management transactions with 3rd parties. These assets
are utilized to capture value and create commercial opportunities.
+ Transportation Assets
Storage Assets
Storage Assets
Optimize value by trading to Optimize value by
Optimize value by trading to
capture time and location segmenting capacity and
capture time and location
price differentials
price differentials supply
Proprietary
Asset Management
Source:
No customer obligation
Customer obligation
100% optionality
Partial optionality
45
Nonregulated Operations
Atmos Energy Marketing – Leased & Managed Assets
AEM manages 1.8 Bcfd of firm pipeline
capacity for customers covered by 179
contracts
1 2
AEM manages approximately 52 Bcf of
Louisville storage on 19 major interstate pipelines
Owensboro covered by 182 customer contracts
3
71
Transport Storage (Bcf)
4
58 &
4 Franklin
59
ANR 3,000 0.28
5 Atmos-TX - 3.50
Dallas
6 NGPL - 0.16
Houston Total 3,000 3.95
New Orleans
5 Transport Storage (Bcf)
CGT 57,000 -
Egan - 1.50
Owned Storage
Tetco 40,000 1.18
1
Primary Office Location Transport Storage (Bcf)
TGP (z1) 210,000 4.74
Distributed Generation Southern Star 172,000 5.52
Total 307,000 7.42
2 Transport Storage (Bcf)
Total 172,000 5.52
Dominion - 0.85 6
Transport Storage (Bcf)
National Fuel 2,000 0.42 3 Transport Storage (Bcf) Gulfsouth 425,000 5.42
Columbia Gas 27,000 1.87 E. Tennessee 310,000 0.81 Gulfsouth-NO - 5.40
Tetco (m2) 20,000 0.40 Centerpoint 50,000 -
Sonat 70,000 1.50
LIG 80,000 0.60
TGP (z2) 38,000 2.13 Transco 15,000 0.60
Bridgeline 30,000 0.30
Texas Gas 187,000 13.33 Trunkline 48,000 1.09
Acadian 10,000 0.45
Total 443,000 4.00
Total 274,000 19.00
Total 595,000 12.17
46
24. Nonregulated Operations
Atmos Energy Marketing – Margin Composition
2008E
Impacted by customer volume demand
Sales prices are:
Delivered Gas
Delivered Gas • Cost plus profit margin
60% - 70%
• Cost plus demand charges
(Bundled gas deliveries &
(Bundled gas deliveries &
peaking sales)
peaking sales) Margins: More predictable
Impacted by gas price spread values
in the market (arbitrage opportunity) &
MTM accounting treatment
Physical storage capabilities
Asset Optimization 30% - 40%
Asset Optimization Available storage and transport
capacity
(Storage & transportation • 12.9 Bcf proprietary contracted capacity
(Storage & transportation
management) • 39.1 Bcf customer-owned / AEM-managed
management)
storage
Margins: More variable
=
Total margins reflect:
Stability from delivered gas margins
Total AEM
Total AEM Stable with potential
Upside from optimizing our storage
Margins
Margins upside
and transportation assets to capture
arbitrage value
47
Nonregulated Operations
Delivered Gas Volumes Continue Growth Trend
Key Growth Drivers
500
Consolidated Sales Volumes
415-450
371
400
Retain existing customers
284
300 238
223 Saturate existing markets
BCF
Expand into targeted growth
200
markets (Texas, Alabama, etc.)
100
Expand asset management
0
business
2004 2005 2006 2007 2008E
Unit margin expansion from
0.31
premium value-added services
0.30 0.25
Consolidated Delivered Gas
0.23 provided to customers
Access to storage assets
(cents per Mcf)
Unit Margins
0.15
0.20 0.14
Gas price volatility
0.10
0.00
2004 2005 2006 2007 2008E
48
25. Nonregulated Operations
Atmos Pipeline & Storage – Owned Asset Mix
Storage
Atmos Pipeline & Storage (AP&S) owns 2 reservoir storage locations in Kentucky and
a 25% interest in a salt storage in Louisiana. Total usable capacity of 3.9 BCF
• East Diamond with 2.2 BCF of usable capacity
• Barnsley 1.3 BCF of usable capacity
• Napoleonville is a salt storage facility located in Louisiana. AP&S (through Trans Louisiana
Gas Storage) owns a 25% interest in Napoleonville (Acadian owns the remaining 75% and
manages the facility). AP&S’s interest is 0.4 BCF
Pipeline
AP&S owns a 21 mile pipeline (24-inch with 270,000 per day capacity) that has receipt
interconnects with Gulf South, Bridgeline, Acadian and Columbia Gulf interstate
pipelines
This pipeline has the ability to deliver to Atmos distribution affiliates, a few industrial
customers, an Entergy power plant, and Entergy’s LDC in New Orleans
Growth Drivers
Strategic location
Preferred provider to LDC’s
Expand asset management business
Access to storage and transportation assets
Gas price volatility 49
Nonregulated Operations
Atmos Pipeline & Storage – Trans Louisiana Gas Pipeline
Storage held on upstream pipelines: Bridgeline, Acadian, Gulf South
Entergy Louisiana
Entergy Louisiana
(TLGP Sales)
(TLGP Sales)
S5,T13S,R20E
Gulf South Pipeline S5,T13S,R20E
Gulf South Pipeline
S48,T13S,R21E
S48,T13S,R21E Atmos Energy Louisiana
Atmos Energy Louisiana
S5,T13S,R23E
S5,T13S,R23E
Acadian Gas Pipeline
Acadian Gas Pipeline
S48,T13S,R21E
S48,T13S,R21E
AEL 18”
TLGP 24”
Bridgeline Gas
Bridgeline Gas
(Paradis) TLGP 16”
(Paradis)
S39,T14S,R20E
S39,T14S,R20E Future Interconnect
Future Interconnect
Columbia Gulf
Columbia Gulf
S24,T13S,R23E
TLGP Pipeline
TLGP Pipeline
B’line 14”
N
Metropolitan New Orleans Area 21 Miles of 24” TLGP Pipe
Metropolitan New Orleans Area W E
.95 Miles of 12” TLGP Pipe
TLGP Transmission // TLGP Sales Points
TLGP Transmission TLGP Sales Points
S 50
26. Nonregulated Operations
Business Development Strategy
Overall Strategy: Develop or acquire assets in markets where Atmos
Energy already has a strategic presence to create value multiple ways
Capture return from initial Investment (fee-based income)
Leverage asset position to extract additional value for Marketing and
Asset Optimization businesses.
Additional Value creation
Initial Value captured
Initial Value captured
Margins generated by Marketing
$
Return on asset and Asset Optimization (storage
Return on asset
investments (fee-based
investments (fee-based arbitrage, new customers, etc)
income)
income)
51
Nonregulated Operations
Business Development Strategy
Overall Strategy: Develop or acquire assets with operational
flexibility, for example
Multi-turn / high deliverability salt storage
Pipelines (multiple interconnects, high take-away receipt/delivery
points, segmenting flexibility, etc.)
The following options will be considered in effectuating the
Nonregulated strategy:
Greenfield development projects
Partnership with other companies that have expertise and/or assets
Acquire interest in third party storage and transportation assets
52
27. Nonregulated Operations
Business Development Strategy
Currently, over 15 potential projects under review
Includes gathering, light processing, pipeline and
storage projects
Capital investment ranges between $3 million to
$300 million per project, some are multi-year
projects
Fiscal 2008 budget includes approximately $33
million for development of these identified projects
Currently, the Park City Gathering Project is under
construction in Western Kentucky
53
Nonregulated Operations
Park City Gathering Project
23 mile low-pressure gas
gathering system northeast of
Bowling Green, KY with delivery
into TGT’s Slaughter/Bowling
Green lateral
Initially, 47 of 60 wells connected
via polyethylene pipe with
expected capacity of over 10,000
Mcf/d
The gas contains approximately
16% nitrogen and will be treated
by a facility, jointly constructed
and owned by Atmos and HNNG,
with participation agreements
currently being finalized
Approximately 72% complete on
11/1/07, with start-up expected
March 2008
Estimated total cost of about $10
million. $3 million of capital
spent in fiscal 2007and about $7
million expected in fiscal 2008
54
28. Nonregulated Operations
Cash Flow Coverage of Working Capital Needs
AEM has a $580 million
uncommitted demand
180,000
working capital credit
facility
130,000
($ thousands)
Used primarily for Letters of
80,000
Credit and also for working
capital needs
30,000
Scheduled to be renewed
(20,000)
and extended prior to
March 31, 2008 termination
(70,000)
(120,000)
D e c -0 4
M a r-0 5
J u n -0 5
S e p -0 5
D e c -0 5
M a r-0 6
J u n -0 6
S e p -0 6
D e c -0 6
M a r-0 7
J u n -0 7
S e p -0 7
Working Capital Cumulative CF from Operations
55
Financial Review
J. Patrick Reddy
Senior VP & Chief Financial Officer
56
29. Financial Review
Earnings Per Share Compared to Company Guidance
Reflects Management’s Commitment to Shareholders
$2.25
$1.95-$2.05
1.92
$2.00
1.82 $1.90-$2.00
$ per share
1.72
$1.75 $1.80-$1.90
1.58
1.54 $1.65-$1.75
1.45
$1.50 $1.55-$1.60
$1.52-$1.58
$1.43-$1.60
$1.25
$1.00
$0.75
$0.50
2002 2003 2004 2005 2006 2007 2008E
57
Financial Review
Return on Invested Capital (ROIC*) Remains Strong
18.0%
16.4%
15.5%
16.0%
14.5% 14.4%
14.0%
13.1%
12.7%
12.0%
10.0%
2003 2004 2005 2006 2007 5 Yr Avg
*ROIC - Return on invested capital is calculated using the following GAAP financial measures: Income before interest expense and income taxes plus common
stock dividends paid, divided by the average of the year’s beginning and ending long-term debt plus common equity. This measure is used to more precisely
evaluate operational performance and management effectiveness.
58
31. Financial Review
Net Liquidity Position Is Solid With Existing Credit Lines*
1,340
1,346
$1,500
1,116
$1,250
487
534
$1,000 786
$ millions
551
661
$750 214
853
812
156
416
$500 565
574
149 505
$250
267
$0
2003 2004 2005 2006 2007 2008E
Atm os Energy Corp. Atm os Energy Holdings
* Subject to internal borrowing strategy and collateral limitations primarily at AEH
61
Financial Review
Managing Consolidated Operations and Maintenance Expense
Fiscal 2008 Expected to Increase at More Normalized Rate
O&M increasing at an
$550 4.2%
CAGR average run-rate of 4.2%
465 - 475
463 since the TXU Gas
$500 433 acquisition
416
$450 Approximately 60% of
$ millions
current O&M levels are
$400 employee labor and benefits
related
$350
• Employee merit
increases expected to
$300
increase 3.5%
$250 • Benefits expense
increases at about 8.3%
$200
2005 2006 2007 2008E
62
32. Financial Review
Managing Pension, Post-Retirement & Other Benefits Expense
($ millions)
$61.4 Other
$56.7
$70.0
Medical & Dental
$60.0
Post-Retirement
11.9
11.3
$50.0 Pension
$40.0
25.8
21.0
$30.0 2008 Pension Assumptions
8.25% return on plan assets
$20.0 13.6 14.3 6.30% discount rate
4.00% wage increase
$10.0
9.4
10.8
$0.0
2007 2008E
63
Financial Review
Natural Gas Distribution Bad Debt Expense as a % of Revenues
Below Industry Average
1.0 2008E bad
debt expense
0.83 is $20 million
0.61 0.60
0.58
0.58
Percent
0.5
0.29
0.0
2003 2004 2005 2006 2007 2008E
64
33. Financial Review
Nonregulated Atmos Energy Marketing
Delivered Gas and Asset Optimization Margins Remain Steady
150.0 Delivered Gas Margins (previously referred
130.6
to as realized marketing margins) have
130.0
remained fairly constant at about $60
17.2 104.3
million, with the exception of Fiscal 2006
110.0 90.0-100.0 due to effect of Hurricane Katrina
26.2
62.0
18.4
($ millions)
Asset Optimization Margins ( previously
90.0
referred to realized storage margins)
30.0-35.0
28.0 28.8 trending between $25 million - $30 million
70.0
annually
50.0
Fiscal 2008 marketing segment margins
87.2
are expected to be between $90 million
60.0 57.1 60.0-65.0
30.0
and $100 million, excluding any mark-to-
market impact
10.0
Mark-to-Market Impact is recognized in
Unrealized Margins and an example of the
(10.0) (26.0)
accounting can be found in the appendix
to this presentation.
(30.0)
2005 2006 2007 2008E
Delivered Gas Asset Optimization Unrealized Margins
65
Financial Review
Consolidated Earnings Guidance – Fiscal 2008E
Atmos Energy anticipates earnings to be in the range of
$1.95 - $2.05 per fully diluted share for the 2008 fiscal year
Assumptions include:
• Contribution from natural gas marketing segment reflecting less
volatility in gas prices
o Total expected gross margin contribution from the marketing segment in
the range of $90 million to $100 million
• Continued successful execution of rate strategy and collection efforts
• Normal weather
• Bad debt expense of no more than $20 million
• Average annual short-term interest rate @ 6.5%
• Average gas cost ranging from $7.95 - $10.00 per mcf
• No material acquisitions
Note: Changes in these events or other circumstances that the company cannot currently anticipate could
materially impact earnings, and could result in earnings for fiscal 2008 significantly above or below this outlook.
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