AEP had solid financial performance for both the fourth quarter and the year. AEP benefited from favoriable weather conditions throughout most of the year, and our industrial volumes were up 4 percent in 2011.
American Electric Power will broadcast its Friday, Feb. 10, New York meeting with financial analysts and investors live over the Internet at 8 a.m. EST at http://www.aep.com/go/webcasts.
This document provides an overview of PHI's 41st EEI Financial Conference held from November 5-8, 2006. It includes sections on PHI's financial performance for Q3 and year-to-date 2006, drivers of performance, sales and customer trends, regulated distribution summaries, upcoming regulatory activities including transmission formula rate filings and rate cases, and PHI's proposed MAPP transmission project. Key highlights are lower sales due to mild weather, lower transmission revenue, and plans to file rate cases in late 2006/early 2007.
- AEP reported GAAP earnings of $1.93 per share and ongoing earnings of $1.17 per share for 3Q11.
- Key announcements included the election of Nick Akins as CEO and an increase in the quarterly dividend to $0.47 per share.
- Regulatory proceedings underway in Ohio on the transition to a competitive market and environmental rules like CSAPR and MACT standards.
- Third quarter performance was driven by a refund of $43 million in POLR charges from an Ohio ESP remand ruling, higher customer switching of $33 million, and a $19 million increase in O&M expenses.
El Paso Corporation reported financial and operational results for the first quarter of 2008. Earnings per share were $0.33 compared to $0.18 in the prior year. Pipeline throughput increased 7% due to higher volumes on key systems. Exploration and production volumes grew 8% as lifting costs decreased 14%. The company also completed $598 million in asset divestitures.
The document summarizes the financial results of a company for fiscal year 2008 and the fourth quarter of 2008. Some key points:
- For fiscal 2008, net income increased 7% to $168.5 million due to rate increases and higher transportation volumes, while O&M expenses also increased.
- Fourth quarter 2008 net income improved significantly from a loss in 2007, driven by higher distribution and marketing margins as well as increased transportation. However, O&M expenses also rose substantially for the quarter.
- Capital expenditures for the year totaled $472 million, with most spent on gas distribution and regulated transmission/storage systems.
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.
Nationwide Financial Services discloses its exposure to sub-prime and Alt-A collateral as of September 30, 2007. 98.2% of securities containing sub-prime collateral were rated AA or better, and 68.2% of sub-prime collateral was originated in 2005 or earlier. The tables provide estimates of the fair value and percentages of Nationwide's general account mortgage-backed and asset-backed securities by collateral classification, rating, and origination year. The document also contains forward-looking statements and risk factors that could affect Nationwide's actual results.
The Pipeline Group had a strong fourth quarter and 2007. EBIT increased 2% and 7% respectively compared to the prior year. Throughput increased 7% in 2007. Notable events included placing the WIC Kanda project in service and acquiring a 50% stake in Gulf LNG. The group signed a precedent agreement to support expansion of the FGT pipeline and has a committed backlog approaching $4 billion.
- Revenue and earnings per share increased in the second quarter of 2007 compared to the same period in 2006. Fleet Management Solutions and Supply Chain Solutions saw revenue growth while Dedicated Contract Carriage's revenue declined slightly.
- For the first half of 2007, revenue and comparable earnings per share increased compared to the first half of 2006. Fleet Management Solutions earnings grew while Supply Chain Solutions earnings declined slightly.
- Capital expenditures decreased in the first half of 2007 compared to the same period in 2006, while proceeds from asset sales increased, leading to a decrease in net capital expenditures. The debt to equity ratio has declined since 2000.
This document provides an overview of PHI's 41st EEI Financial Conference held from November 5-8, 2006. It includes sections on PHI's financial performance for Q3 and year-to-date 2006, drivers of performance, sales and customer trends, regulated distribution summaries, upcoming regulatory activities including transmission formula rate filings and rate cases, and PHI's proposed MAPP transmission project. Key highlights are lower sales due to mild weather, lower transmission revenue, and plans to file rate cases in late 2006/early 2007.
- AEP reported GAAP earnings of $1.93 per share and ongoing earnings of $1.17 per share for 3Q11.
- Key announcements included the election of Nick Akins as CEO and an increase in the quarterly dividend to $0.47 per share.
- Regulatory proceedings underway in Ohio on the transition to a competitive market and environmental rules like CSAPR and MACT standards.
- Third quarter performance was driven by a refund of $43 million in POLR charges from an Ohio ESP remand ruling, higher customer switching of $33 million, and a $19 million increase in O&M expenses.
El Paso Corporation reported financial and operational results for the first quarter of 2008. Earnings per share were $0.33 compared to $0.18 in the prior year. Pipeline throughput increased 7% due to higher volumes on key systems. Exploration and production volumes grew 8% as lifting costs decreased 14%. The company also completed $598 million in asset divestitures.
The document summarizes the financial results of a company for fiscal year 2008 and the fourth quarter of 2008. Some key points:
- For fiscal 2008, net income increased 7% to $168.5 million due to rate increases and higher transportation volumes, while O&M expenses also increased.
- Fourth quarter 2008 net income improved significantly from a loss in 2007, driven by higher distribution and marketing margins as well as increased transportation. However, O&M expenses also rose substantially for the quarter.
- Capital expenditures for the year totaled $472 million, with most spent on gas distribution and regulated transmission/storage systems.
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.
Nationwide Financial Services discloses its exposure to sub-prime and Alt-A collateral as of September 30, 2007. 98.2% of securities containing sub-prime collateral were rated AA or better, and 68.2% of sub-prime collateral was originated in 2005 or earlier. The tables provide estimates of the fair value and percentages of Nationwide's general account mortgage-backed and asset-backed securities by collateral classification, rating, and origination year. The document also contains forward-looking statements and risk factors that could affect Nationwide's actual results.
The Pipeline Group had a strong fourth quarter and 2007. EBIT increased 2% and 7% respectively compared to the prior year. Throughput increased 7% in 2007. Notable events included placing the WIC Kanda project in service and acquiring a 50% stake in Gulf LNG. The group signed a precedent agreement to support expansion of the FGT pipeline and has a committed backlog approaching $4 billion.
- Revenue and earnings per share increased in the second quarter of 2007 compared to the same period in 2006. Fleet Management Solutions and Supply Chain Solutions saw revenue growth while Dedicated Contract Carriage's revenue declined slightly.
- For the first half of 2007, revenue and comparable earnings per share increased compared to the first half of 2006. Fleet Management Solutions earnings grew while Supply Chain Solutions earnings declined slightly.
- Capital expenditures decreased in the first half of 2007 compared to the same period in 2006, while proceeds from asset sales increased, leading to a decrease in net capital expenditures. The debt to equity ratio has declined since 2000.
- The presentation discusses AEP's financial and regulatory performance in the first quarter of 2011, reaffirming earnings guidance for 2011 and 2012.
- It provides an overview of AEP's coal fleet and the potential capital costs to comply with proposed environmental rules from 2012-2020, estimating costs could range from $1.15 billion to $2.21 billion.
- The presentation also notes ongoing reviews of proposed regulations and technical assessments that could impact capital cost estimates.
American Electric Power (NYSE: AEP) will share 2012 to 2014 plans, including 2012 ongoing earnings guidance (earnings excluding special items) and expected capital spend, during a meeting today with investors in New York.
The company is expected to announce an ongoing earnings guidance range for 2012 of $3.05 to $3.25 per share and set its 2012 capital budget at $3.1 billion. Capital expenditures for 2013 and 2014 are estimated at $3.5 billion to $3.7 billion per year.
1) AEP reported 1Q12 GAAP earnings of $0.80 per share, in line with $0.82 per share in 1Q11.
2) Utility operations earnings were $383 million in 1Q12 compared to $389 million in 1Q11, due to unfavorable weather.
3) Transmission operations earnings increased to $9 million in 1Q12 from $4 million in 1Q11.
AEP's dividend policy and expected EPS growth rate are detailed in this handout, which was shared at the Greater Chicagoland Coalition of Better Investing.
This presentation reflects conditions at the time it was delivered and do not include later developments. Updated information about current conditions can be found in the companies' filings with the Securities and Exchange Commission. AEP has not undertaken an obligation to update the presentation on this page.
Supplemental information published for AEP’s quarterly earnings conference call with financial analysts on Jan. 28, 2011.
For more information, log on to AEP.com/Investors
1) AEP faces significant challenges transforming its business due to stricter environmental regulations, a shifting energy landscape, and economic pressures.
2) AEP is developing a transition plan to address grid reliability, customer costs, job creation, and a more diverse fuel portfolio in response to these changes.
3) AEP supports rational environmental regulation but is concerned about the affordability and timeline of EPA rules, which could prematurely retire some coal plants and significantly increase costs passed to customers. AEP hopes the EPA will consider feedback calling for a more flexible approach.
What is the future of corporate reporting? AEP's Sandy Nessing, managing director of Sustainability, spoke to an MBA class at The Ohio State University's Fisher School of Business on Feb. 29, 2012, about AEP's experience, why sustainability is a growth platform as well as a risk management strategy and what the trends are in corporate reporting.
Max Havelaar France en partenariat avec la Plate-Forme pour le commerce équitable (PFCE) et l’entreprise Ethiquable, ont réalisé une étude sur les pratiques de préfinancement des campagnes de production agricoles dans les filières du commerce équitable.
Cette étude s’inscrit dans le cadre du plan d’action national en faveur du commerce équitable (2013 -2016) qui vise notamment à encourager la mise en place d’outils de financements (publics et/ou privés) pour faire face aux besoins de préfinancement des importateurs et des organisations de producteurs.
L’étude cherche ainsi à identifier et disséminer les bonnes pratiques et mécanismes innovants de préfinancement des campagnes de production agricoles dans le commerce équitable.
Le travail de recherche a été mené par le réseau CERISE et animé par un comité de pilotage formé de la PFCE, de Max Havelaar France, d’Ethiquable, du ministère français des Affaires Etrangères et du Développement international, de l’Agence Française de Développement, de la Région Île–de–France et du Crédit coopératif.
Il donné lieu à la réalisation de ces fiches techniques présentant l’offre de 11 organismes financiers et 2 outils financiers innovants, le financement participatif et l’épargne salariale. Il a également permis de formuler des recommandations pour valoriser, améliorer et diffuser ces bonnes pratiques.
Brian X. Tierney, American Electric Power executive vice president and chief financial officer presented to an audience of investors at the Credit Suisse Energy Summit in Vail, Colo., on Feb. 8, 2011.
A webcast of the presentation can be accessed through the Internet at http://www.aep.com/investors/webcasts/.
During the conference, AEP reaffirmed its 2011 ongoing earnings guidance of $3.00 to $3.20 per share.
The document summarizes Duke Energy's financial results for the third quarter of 2005. It reports higher earnings in the company's franchised electric, natural gas transmission, and international energy segments. It also discusses the financial impacts of Duke Energy's decision to exit its North American commercial power business. Finally, it provides expectations for 2005 ongoing earnings per share and 2007 ongoing earnings following the planned merger with Cinergy.
Exelon Corporation and Public Service Enterprise Group held a financial conference in Hollywood, Florida. The presentation included forward-looking statements and discussed 2005 performance and 2006 outlook for both companies. For PSEG, 2005 operating earnings are estimated between $770-810 million and EPS between $3.15-$3.35. Key events for PSEG in 2005 included improved nuclear operations, favorable energy market pricing, and ongoing regulatory proceedings.
Exelon Corporation and Public Service Enterprise Group provided an overview of their 2005 performance and 2006 outlook. Both companies exceeded their 2005 earnings guidance due to higher energy prices and improved operations. For 2006, Exelon expects continued earnings growth driven by its generation business, while PSEG forecasts stable earnings assuming normal weather and commodity prices. The companies are working to complete the divestiture requirements related to their pending merger approval.
Progress Energy reported first quarter 2008 results. Earnings were lower than expected due to milder than normal weather and lower customer growth and usage, particularly in Florida. The company reaffirmed its 2008 earnings guidance. Several regulatory filings and projects remained on track. Key nuclear, natural gas, and transmission projects were progressing to increase capacity and meet renewable energy goals. While economic conditions had softened retail demand, cost management and additional wholesale contracts were expected to offset impacts.
FMC Technologies had a successful year in 2004 with revenue increasing 20% and earnings per share up 63%. The company's energy businesses performed well by capitalizing on growth in oil and gas activity, with the subsea systems business increasing sales to over $1 billion. However, some challenges included losses on an offshore contract in Algeria and lower sales and profits in the food processing equipment business due to hurricanes damaging the Florida citrus crop. Overall the company increased its order backlog 26% while reducing debt, positioning it well for continued growth.
- Duke Energy reported ongoing diluted EPS of $0.25 for the second quarter of 2007, up from $0.24 in the second quarter of 2006. Special items reduced EPS by $0.01 in 2007.
- Improved results from the FE&G, Commercial Power, and International segments contributed to the EPS growth, offset by lower results from Crescent Resources.
- Duke Energy expects to exceed its 2007 employee incentive target of $1.15 in ongoing diluted EPS for the full year.
DTE Energy reported its business and financial results for 2007. Key points include:
- Operating earnings for 2007 were $2.82 per share, driven by strong results across utility and non-utility segments.
- Detroit Edison and MichCon earned near their authorized returns on equity despite challenges from new computer systems.
- Non-utility segments like coal/gas midstream and energy trading significantly contributed to earnings.
- The company is making investments to grow its utilities and pipelines, with plans to file an updated rate case for Detroit Edison.
DTE Energy reported its business and financial results for 2007. Key points include:
- Operating earnings for 2007 were $2.82 per share, driven by strong results across utility and non-utility segments.
- Detroit Edison and MichCon earned near their authorized returns on equity despite challenges from new computer systems.
- Non-utility segments like coal/gas midstream and energy trading significantly contributed to earnings.
- The company is making investments to grow its utilities and pipelines, with plans to file an updated rate case for Detroit Edison.
The document provides an earnings review for The Bank of New York Mellon Corporation for the first quarter of 2009. It summarizes key financial highlights including a 14% decline in operating revenue compared to the first quarter of 2008. Earnings were impacted by $295 million in securities write-downs. Expense reductions of 10% helped offset declining revenues. Capital ratios improved with the Tier 1 capital ratio reaching 13.8%. Assets under management declined 5% from the prior quarter to $881 billion due to market depreciation, while assets under custody/administration fell 3% to $19.5 trillion.
This document provides an overview of Xcel Energy's operations and financial projections. It discusses Xcel's regulated utility subsidiaries, rate base and returns, reconciliation of regulatory and GAAP financial reporting, assumptions for 2006 earnings guidance, and projected capital expenditures and potential earnings from major projects. Key details include projected 2006 O&M and interest expenses, sales growth assumptions, coal supply contracts through 2008, and senior debt ratings of A- to BBB- with a stable outlook.
This document provides an overview of Xcel Energy's operations and financial projections. It discusses Xcel's regulated utility subsidiaries, rate base and returns, reconciliation of regulatory and GAAP financial reporting, assumptions for 2006 earnings guidance, and projected capital expenditures and potential earnings from major projects. Key details include projected 2006 O&M and interest expense increases, earnings assumptions, coal supply contracts through 2008, and senior debt credit ratings of BBB- to A3.
This document provides an overview of Xcel Energy's operations and financial projections. It discusses Xcel's operating companies and regulatory rate base returns. Key assumptions are presented for Xcel's 2006 earnings guidance, including expected sales growth, cost increases, and tax rates. Capital expenditure forecasts are given through 2009 for Xcel's operating companies. Senior debt ratings and retail electric rate comparisons are also summarized.
1) Sallie Mae reported a net loss of $21 million for Q1 2009 compared to net income of $188 million for Q1 2008.
2) Key drivers of the decline were higher loan loss provisions, costs associated with debt refinancing, and the impact of lower interest rates on variable rate assets and liabilities.
3) Sallie Mae's liquidity position remained strong with $14 billion in primary and secondary sources of liquidity as of March 31, 2009.
- The presentation discusses AEP's financial and regulatory performance in the first quarter of 2011, reaffirming earnings guidance for 2011 and 2012.
- It provides an overview of AEP's coal fleet and the potential capital costs to comply with proposed environmental rules from 2012-2020, estimating costs could range from $1.15 billion to $2.21 billion.
- The presentation also notes ongoing reviews of proposed regulations and technical assessments that could impact capital cost estimates.
American Electric Power (NYSE: AEP) will share 2012 to 2014 plans, including 2012 ongoing earnings guidance (earnings excluding special items) and expected capital spend, during a meeting today with investors in New York.
The company is expected to announce an ongoing earnings guidance range for 2012 of $3.05 to $3.25 per share and set its 2012 capital budget at $3.1 billion. Capital expenditures for 2013 and 2014 are estimated at $3.5 billion to $3.7 billion per year.
1) AEP reported 1Q12 GAAP earnings of $0.80 per share, in line with $0.82 per share in 1Q11.
2) Utility operations earnings were $383 million in 1Q12 compared to $389 million in 1Q11, due to unfavorable weather.
3) Transmission operations earnings increased to $9 million in 1Q12 from $4 million in 1Q11.
AEP's dividend policy and expected EPS growth rate are detailed in this handout, which was shared at the Greater Chicagoland Coalition of Better Investing.
This presentation reflects conditions at the time it was delivered and do not include later developments. Updated information about current conditions can be found in the companies' filings with the Securities and Exchange Commission. AEP has not undertaken an obligation to update the presentation on this page.
Supplemental information published for AEP’s quarterly earnings conference call with financial analysts on Jan. 28, 2011.
For more information, log on to AEP.com/Investors
1) AEP faces significant challenges transforming its business due to stricter environmental regulations, a shifting energy landscape, and economic pressures.
2) AEP is developing a transition plan to address grid reliability, customer costs, job creation, and a more diverse fuel portfolio in response to these changes.
3) AEP supports rational environmental regulation but is concerned about the affordability and timeline of EPA rules, which could prematurely retire some coal plants and significantly increase costs passed to customers. AEP hopes the EPA will consider feedback calling for a more flexible approach.
What is the future of corporate reporting? AEP's Sandy Nessing, managing director of Sustainability, spoke to an MBA class at The Ohio State University's Fisher School of Business on Feb. 29, 2012, about AEP's experience, why sustainability is a growth platform as well as a risk management strategy and what the trends are in corporate reporting.
Max Havelaar France en partenariat avec la Plate-Forme pour le commerce équitable (PFCE) et l’entreprise Ethiquable, ont réalisé une étude sur les pratiques de préfinancement des campagnes de production agricoles dans les filières du commerce équitable.
Cette étude s’inscrit dans le cadre du plan d’action national en faveur du commerce équitable (2013 -2016) qui vise notamment à encourager la mise en place d’outils de financements (publics et/ou privés) pour faire face aux besoins de préfinancement des importateurs et des organisations de producteurs.
L’étude cherche ainsi à identifier et disséminer les bonnes pratiques et mécanismes innovants de préfinancement des campagnes de production agricoles dans le commerce équitable.
Le travail de recherche a été mené par le réseau CERISE et animé par un comité de pilotage formé de la PFCE, de Max Havelaar France, d’Ethiquable, du ministère français des Affaires Etrangères et du Développement international, de l’Agence Française de Développement, de la Région Île–de–France et du Crédit coopératif.
Il donné lieu à la réalisation de ces fiches techniques présentant l’offre de 11 organismes financiers et 2 outils financiers innovants, le financement participatif et l’épargne salariale. Il a également permis de formuler des recommandations pour valoriser, améliorer et diffuser ces bonnes pratiques.
Brian X. Tierney, American Electric Power executive vice president and chief financial officer presented to an audience of investors at the Credit Suisse Energy Summit in Vail, Colo., on Feb. 8, 2011.
A webcast of the presentation can be accessed through the Internet at http://www.aep.com/investors/webcasts/.
During the conference, AEP reaffirmed its 2011 ongoing earnings guidance of $3.00 to $3.20 per share.
The document summarizes Duke Energy's financial results for the third quarter of 2005. It reports higher earnings in the company's franchised electric, natural gas transmission, and international energy segments. It also discusses the financial impacts of Duke Energy's decision to exit its North American commercial power business. Finally, it provides expectations for 2005 ongoing earnings per share and 2007 ongoing earnings following the planned merger with Cinergy.
Exelon Corporation and Public Service Enterprise Group held a financial conference in Hollywood, Florida. The presentation included forward-looking statements and discussed 2005 performance and 2006 outlook for both companies. For PSEG, 2005 operating earnings are estimated between $770-810 million and EPS between $3.15-$3.35. Key events for PSEG in 2005 included improved nuclear operations, favorable energy market pricing, and ongoing regulatory proceedings.
Exelon Corporation and Public Service Enterprise Group provided an overview of their 2005 performance and 2006 outlook. Both companies exceeded their 2005 earnings guidance due to higher energy prices and improved operations. For 2006, Exelon expects continued earnings growth driven by its generation business, while PSEG forecasts stable earnings assuming normal weather and commodity prices. The companies are working to complete the divestiture requirements related to their pending merger approval.
Progress Energy reported first quarter 2008 results. Earnings were lower than expected due to milder than normal weather and lower customer growth and usage, particularly in Florida. The company reaffirmed its 2008 earnings guidance. Several regulatory filings and projects remained on track. Key nuclear, natural gas, and transmission projects were progressing to increase capacity and meet renewable energy goals. While economic conditions had softened retail demand, cost management and additional wholesale contracts were expected to offset impacts.
FMC Technologies had a successful year in 2004 with revenue increasing 20% and earnings per share up 63%. The company's energy businesses performed well by capitalizing on growth in oil and gas activity, with the subsea systems business increasing sales to over $1 billion. However, some challenges included losses on an offshore contract in Algeria and lower sales and profits in the food processing equipment business due to hurricanes damaging the Florida citrus crop. Overall the company increased its order backlog 26% while reducing debt, positioning it well for continued growth.
- Duke Energy reported ongoing diluted EPS of $0.25 for the second quarter of 2007, up from $0.24 in the second quarter of 2006. Special items reduced EPS by $0.01 in 2007.
- Improved results from the FE&G, Commercial Power, and International segments contributed to the EPS growth, offset by lower results from Crescent Resources.
- Duke Energy expects to exceed its 2007 employee incentive target of $1.15 in ongoing diluted EPS for the full year.
DTE Energy reported its business and financial results for 2007. Key points include:
- Operating earnings for 2007 were $2.82 per share, driven by strong results across utility and non-utility segments.
- Detroit Edison and MichCon earned near their authorized returns on equity despite challenges from new computer systems.
- Non-utility segments like coal/gas midstream and energy trading significantly contributed to earnings.
- The company is making investments to grow its utilities and pipelines, with plans to file an updated rate case for Detroit Edison.
DTE Energy reported its business and financial results for 2007. Key points include:
- Operating earnings for 2007 were $2.82 per share, driven by strong results across utility and non-utility segments.
- Detroit Edison and MichCon earned near their authorized returns on equity despite challenges from new computer systems.
- Non-utility segments like coal/gas midstream and energy trading significantly contributed to earnings.
- The company is making investments to grow its utilities and pipelines, with plans to file an updated rate case for Detroit Edison.
The document provides an earnings review for The Bank of New York Mellon Corporation for the first quarter of 2009. It summarizes key financial highlights including a 14% decline in operating revenue compared to the first quarter of 2008. Earnings were impacted by $295 million in securities write-downs. Expense reductions of 10% helped offset declining revenues. Capital ratios improved with the Tier 1 capital ratio reaching 13.8%. Assets under management declined 5% from the prior quarter to $881 billion due to market depreciation, while assets under custody/administration fell 3% to $19.5 trillion.
This document provides an overview of Xcel Energy's operations and financial projections. It discusses Xcel's regulated utility subsidiaries, rate base and returns, reconciliation of regulatory and GAAP financial reporting, assumptions for 2006 earnings guidance, and projected capital expenditures and potential earnings from major projects. Key details include projected 2006 O&M and interest expenses, sales growth assumptions, coal supply contracts through 2008, and senior debt ratings of A- to BBB- with a stable outlook.
This document provides an overview of Xcel Energy's operations and financial projections. It discusses Xcel's regulated utility subsidiaries, rate base and returns, reconciliation of regulatory and GAAP financial reporting, assumptions for 2006 earnings guidance, and projected capital expenditures and potential earnings from major projects. Key details include projected 2006 O&M and interest expense increases, earnings assumptions, coal supply contracts through 2008, and senior debt credit ratings of BBB- to A3.
This document provides an overview of Xcel Energy's operations and financial projections. It discusses Xcel's operating companies and regulatory rate base returns. Key assumptions are presented for Xcel's 2006 earnings guidance, including expected sales growth, cost increases, and tax rates. Capital expenditure forecasts are given through 2009 for Xcel's operating companies. Senior debt ratings and retail electric rate comparisons are also summarized.
1) Sallie Mae reported a net loss of $21 million for Q1 2009 compared to net income of $188 million for Q1 2008.
2) Key drivers of the decline were higher loan loss provisions, costs associated with debt refinancing, and the impact of lower interest rates on variable rate assets and liabilities.
3) Sallie Mae's liquidity position remained strong with $14 billion in primary and secondary sources of liquidity as of March 31, 2009.
This document is a news release from Ameriprise Financial reporting their fourth quarter and full year 2008 financial results. Some key points:
1) Ameriprise reported a net loss of $369 million for Q4 2008 due to losses from investments and charges related to declining markets, compared to net income of $255 million in Q4 2007.
2) Excluding one-time impacts, core operating earnings were $176 million for Q4 2008, down from $262 million in the prior year period.
3) For the full year, Ameriprise reported a net loss of $38 million compared to net income of $814 million in 2007, while core operating earnings declined modestly.
3
This document is SunTrust Banks' 1Q 2008 earnings presentation. It discusses SunTrust's financial performance for 1Q 2008, noting earnings per share of $0.81, impacted by increased provision expenses and some non-core positive items. It also discusses SunTrust's solid capital and liquidity positions, with Tier 1 and Total Capital Ratios of 7.25% and 11.00% respectively. Finally, it outlines SunTrust's ongoing E2 efficiency and productivity program, with a goal of $500 million in benefits for 2008, up $150 million from original estimates, and a new goal of $600 million in benefits for 2009.
This document provides a summary of DPL Inc.'s financial results for the first quarter of 2009. It discusses earnings per share, operational highlights, regulatory updates, and liquidity. Key points include diluted EPS of $0.61 or $0.54 adjusted for deferred RTO costs, lower wholesale revenue and industrial sales, a planned Zimmer outage, gains from coal sales, hedged coal costs, and total 2009-2011 capital expenditures estimated at $475 million. Guidance for 2009 EPS of $2.00-$2.30 was also reaffirmed.
Raytheon Reports 2004 Second Quarter Resultsfinance12
Raytheon reported second quarter earnings for 2004. Revenues increased 11% to $4.9 billion due to growth across several business segments. However, earnings per share were $0.22 due to one-time charges related to settling a class action lawsuit and retiring debt. Excluding these charges, earnings per share were $0.35. Free cash flow increased to $818 million compared to the prior year. Looking ahead, Raytheon expects full year revenues of $20 billion and earnings per share between $0.79-0.89 or $1.30-1.40 excluding the class action settlement charges.
Cincinnati Bell reported second quarter 2012 results with the following highlights:
- Revenue was $368 million, a 1% increase over Q1 2012. Adjusted EBITDA was $140 million, up from $137 million in Q2 2011.
- CyrusOne data center colocation revenue increased 20% year-over-year to $54 million.
- Wireline revenue was flat at $184 million compared to Q2 2011. Fioptics revenue grew 43% and helped offset access line losses.
- Wireless revenue decreased due to fewer subscribers but Adjusted EBITDA margin improved to a high of 39%.
El Paso Electric provides electricity to customers in west Texas and southern New Mexico. It owns power generation facilities with a total capacity of 1,785 MW, primarily fueled by nuclear, natural gas, and coal. The company is experiencing above average customer and sales growth due to economic expansion in its service territory. El Paso Electric has a sizable capital expenditure plan over the next several years to build new infrastructure to meet increasing demand. It maintains good financial stability and credit ratings to support its investments.
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The E-Way Bill revolutionizes logistics by digitizing the documentation of goods transport, ensuring transparency, tax compliance, and streamlined processes. This mandatory, electronic system reduces delays, enhances accountability, and combats tax evasion, benefiting businesses and authorities alike. Embrace the E-Way Bill for efficient, reliable transportation operations.
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
ZKsync airdrop of 3.6 billion ZK tokens is scheduled by ZKsync for next week.pdfSOFTTECHHUB
The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
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Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
2. “Safe Harbor” Statement under the Private
Securities Litigation Reform Act of 1995
This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although AEP and each of its
Registrant Subsidiaries believe that their expectations are based on reasonable assumptions, any such statements may be influenced by factors that could cause actual
outcomes and results to be materially different from those projected. Among the factors that could cause actual results to differ materially from those in the forward-
looking statements are: the economic climate and growth in, or contraction within, our service territory and changes in market demand and demographic patterns,
inflationary or deflationary interest rate trends, volatility in the financial markets, particularly developments affecting the availability of capital on reasonable terms and
developments impairing our ability to finance new capital projects and refinance existing debt at attractive rates, the availability and cost of funds to finance working
capital and capital needs, particularly during periods when the time lag between incurring costs and recovery is long and the costs are material, electric load, customer
growth and the impact of retail competition, particularly in Ohio, weather conditions, including storms, and our ability to recover significant storm restoration costs
through applicable rate mechanisms, available sources and costs of, and transportation for, fuels and the creditworthiness and performance of fuel suppliers and
transporters, availability of necessary generating capacity and the performance of our generating plants, our ability to resolve I&M’s Donald C. Cook Nuclear Plant Unit
1 restoration and outage-related issues through warranty, insurance and the regulatory process, our ability to recover regulatory assets and stranded costs in
connection with deregulation, our ability to recover increases in fuel and other energy costs through regulated or competitive electric rates, our ability to build or acquire
generating capacity, including the Turk Plant, and transmission line facilities (including our ability to obtain any necessary regulatory approvals and permits) when
needed at acceptable prices and terms and to recover those costs (including the costs of projects that are cancelled) through applicable rate cases or competitive rates,
new legislation, litigation and government regulation including oversight of energy commodity trading and new or heightened requirements for reduced emissions of
sulfur, nitrogen, mercury, carbon, soot or particulate matter and other substances or additional regulation of fly ash and similar combustion products that could impact
the continued operation and cost recovery of our plants, timing and resolution of pending and future rate cases, negotiations and other regulatory decisions including
rate or other recovery of new investments in generation, distribution and transmission service and environmental compliance, resolution of litigation, our ability to
constrain operation and maintenance costs, our ability to develop and execute a strategy based on a view regarding prices of electricity, natural gas and other energy-
related commodities, changes in the creditworthiness of the counterparties with whom we have contractual arrangements, including participants in the energy trading
market, actions of rating agencies, including changes in the ratings of debt, volatility and changes in markets for electricity, natural gas, coal, nuclear fuel and other
energy-related commodities, changes in utility regulation, including the implementation of ESPs and the expected legal separation and transition to market for
generation in Ohio and the allocation of costs within regional transmission organizations, including PJM and SPP, accounting pronouncements periodically issued by
accounting standard-setting bodies, the impact of volatility in the capital markets on the value of the investments held by our pension, other postretirement benefit plans,
captive insurance entity and nuclear decommissioning trust and the impact on future funding requirements, prices and demand for power that we generate and sell at
wholesale, changes in technology, particularly with respect to new, developing or alternative sources of generation, our ability to recover through rates or prices any
remaining unrecovered investment in generating units that may be retired before the end of their previously projected useful lives, evolving public perception of the risks
associated with fuels used before, during and after the generation of electricity, including nuclear fuel and other risks and unforeseen events, including wars, the effects
of terrorism (including increased security costs), embargoes, cyber security threats and other catastrophic events.
Investor Relations Contacts
Chuck Zebula Bette Jo Rozsa Julie Sherwood Sara Macioch
Treasurer Managing Director Director Analyst
SVP Investor Relations Investor Relations Investor Relations Investor Relations
614-716-2800 614-716-2840 614-716-2663 614-716-2835
cezebula@aep.com bjrozsa@aep.com jasherwood@aep.com semacioch@aep.com
2
3. 4Q11 Performance
4Q11 Performance Drivers
Fourth Quarter Reconciliation
Regulatory Disallowances in Virginia and Ohio of $107M
Weather was unfavorable by $49M vs. prior year,
Ongoing unfavorable $33M vs. normal
Earnings Retail Margins down $22M
EPS ($ in millions)
Loss of POLR revenues from Ohio ESP Remand ruling
4Q10 $ 0.38 $179 $32M
Regulatory Disallowances $ (0.14) Gross Customer Switching up $31M
Weather $ (0.07) O&M expense net of offsets increased $19M primarily
Retail Margin $ (0.04) due to accrual of Ohio donations required as part of the
orders received in December 2011
POLR Remand $ (0.04)
Customer Switching $ (0.04) Off-System Sales, net of sharing, were unfavorable by
$5M due to lower power prices
Operations & Maintenance $ (0.03)
Income from carrying costs related to TCC True-up
Off-System Sales $ (0.01) Remand $10M
TCC True-Up Remand $ 0.01 Rate Changes net of offsets of $26M from multiple
Rate Changes $ 0.03 operating jurisdictions
2009 SEET Refund $ 0.06 SEET refund in 2010 of $43M related to PUCO order in
Utility Operations Income Taxes $ 0.13 the 2009 SEET filing for CSPCo
Other $ 0.16 Utility Operations Income taxes decreased $62M due to
4Q11 $ 0.40 $194 favorable audit settlements for prior years
EPS Based on 483MM shares in Q411 Other favorable primarily due to 2010 unfavorable items,
an increase in transmission operations earnings and a
decrease in interest expense
3
4. December YTD 2011 Performance
YTD 2011 Performance Drivers
December YTD 2011 Reconciliation
Regulatory Disallowances in Virginia and Ohio of $107M
Ongoing Weather was unfavorable by $49M vs. prior year, favorable
$113M vs. normal
Earnings
EPS ($ in millions) Retail Margins down $34M
Loss of POLR revenues from Ohio ESP Remand ruling
2010 $ 3.03 $1,451 $75M
Regulatory Disallowances $ (0.14) Gross Customer Switching up $107M
Weather $ (0.07) O&M expense net of offsets increased $63M primarily due
Retail Margin $ (0.05) to higher storm expenses and accrual of Ohio donations
required as part of the orders received in December 2011
POLR Remand $ (0.10)
Off-System Sales, net of sharing, were favorable by $44M
Customer Switching $ (0.14) due to higher volumes
Operations & Maintenance $ (0.09) Income from carrying costs related to TCC True-up
Off-System Sales $ 0.06 Remand $38M
TCC True-Up Remand $ 0.05 Rate Changes net of offsets of $188M from multiple
operating jurisdictions
Rate Changes $ 0.25
SEET refund in 2010 of $43M related to PUCO order in the
2009 SEET Refund $ 0.06 2009 SEET filing for CSPCo
Utility Operations Income Taxes $ 0.13 Utility Operations Income taxes decreased $62M due to
Other $ 0.13 favorable audit settlements for prior years
2011 $ 3.12 $1,504 Other favorable primarily due to 2010 unfavorable items,
EPS Based on 482MM shares in YTD11 and lower interest expense in 2011
Full year results at mid-point of tightened guidance range 4
6. Customer Switching
AEP-OH Customers Choosing Other Energy Providers
50% $150,000
45% Actual Cumulative % Lost Load
Actual Cumulative Lost Gross Margin $123,958
40% ($ in millions) $120,000
4Q11 YTD
Gross Gross YTD %
35% Margin Margin Lost
Lost Gross Margin ($000s)
Lost Lost Load
30% CSP $ 30.7 $ 105.4 18.1% $90,000
% kWh Lost
OPCo $ 10.2 $ 18.5 2.8%
25% Total $ 40.9 $ 123.9 9.6%
20% $60,000
15%
10% $30,000
5%
0% $-
Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11
Customer switching impacts above partially offset by off-system sales and capacity revenues 6
7. Capitalization & Liquidity
70% Total Debt / Total Capitalization Credit Statistics
65%
64.5% Actual Target
62.5%
FFO Interest Coverage 4.6 >3.6x
FFO To Total Debt 18.7% 15%- 20%
60.7%
60% 59.1% 59.1%
57.2% 57.2% 57.0% Note: Credit statistics represent the trailing 12 months as of 12/31/2011
55.3%
55%
Liquidity Summary (12/31/2011)
Liquidity Summary
50% (unaudited) Actual
($ in millions) Amount Maturity
Revolving Credit Facility $ 1,750 Jul-16
Revolving Credit Facility 1,500 Jun-15
45%
Total Credit Facilities 3,250
Plus
40% Cash & Cash Equivalents 221
A
A
A
A
A
A
A
A
A
Less
03
04
05
06
07
08
09
10
11
20
20
20
20
20
20
20
20
20
Commercial Paper Outstanding (967)
Letters of credit issued (141)
Note: Total Debt is calculated according to GAAP and includes securitized debt Net available Liquidity $ 2,363
Strong balance sheet, solid credit metrics and adequate liquidity
7
11. YTD 2011 Performance Comparison
American Electric Power
Financial Results for YTD December 2011 Actual vs YTD December 2010 Actual
2010 Actual 2011 Actual
Performance Driver ($ millions) EPS Performance Driver ($ millions) EPS
UTILITY OPERATIONS:
Gross Margin:
1 East Regulated Integrated Utilities 68,761 GWh @ $ 41.9 /MWhr = 2,882 66,832 GWh @ $ 41.1 /MWhr = 2,749
2 Ohio Companies 49,465 GWh @ $ 56.6 /MWhr = 2,800 51,445 GWh @ $ 52.0 /MWhr = 2,673
3 West Regulated Integrated Utilities 42,131 GWh @ $ 31.4 /MWhr = 1,322 43,380 GWh @ $ 32.5 /MWhr = 1,408
4 Texas Wires 27,348 GWh @ $ 22.3 /MWhr = 611 29,288 GWh @ $ 22.1 /MWhr = 648
5 Off-System Sales 19,172 GWh @ $ 15.6 /MWhr = 299 25,693 GWh @ $ 13.3 /MWhr = 343
6 Transmission Revenue - 3rd Party 369 417
7 Other Operating Revenue 511 507
8 Utility Gross Margin 8,794 8,745
9 Operations & Maintenance (3,427) (3,544)
10 Depreciation & Amortization (1,598) (1,613)
11 Taxes Other than Income Taxes (801) (812)
12 Interest Exp & Preferred Dividend (945) (891)
13 Other Income & Deductions 154 239
14 Income Taxes (758) (669)
15 Utility Operations On-Going Earnings 1,419 2.97 1,455 3.02
16 Transmission Operations On-Going Earnings 10 0.02 30 0.06
NON-UTILITY OPERATIONS:
17 AEP River Operations 40 0.08 45 0.09
18 Generation & Marketing 25 0.05 14 0.03
PARENT & OTHER:
19 Parent Company On-Going Earnings (83) (52)
20 Other Investments 40 12
21 Parent & Other On-Going Earnings (43) (0.09) (40) (0.08)
22 ON-GOING EARNINGS 1,451 3.03 1,504 3.12
Note: For analysis purposes, certain financial statement amounts have been reclassified for this effect on earnings presentation.
11
12. Retail Rate Performance
Rate Changes, net of Rate Changes, net of
trackers (in millions) trackers (in millions)
4Q11 vs. 4Q10 YTD11 vs. YTD10
East Regulated
East Regulated
$11 Integrated $116
Integrated Utilities
Utilities
Ohio Companies $5 Ohio Companies $40
West Regulated
West Regulated
$10 Integrated $32
Integrated Utilities
Utilities
Texas Wires $0 Texas Wires $0
AEP System Total $26 AEP System Total $188
Impact on EPS $0.03 Impact on EPS $0.25
12
13. 4Q11 Retail Performance
Retail Load* Weather Impact
(weather normalized) (in millions)
4Q11 vs. 4Q10 4Q11 vs. 4Q10
East Regulated
East Regulated
(2.0%) Integrated ($39)
Integrated Utilities
Utilities
Ohio Companies 1.5% Ohio Companies ($16)
West Regulated
West Regulated
0.7% Integrated $3
Integrated Utilities
Utilities
Texas Wires 2.2% Texas Wires $3
Impact on EPS $0.04 Impact on EPS $0.07
* Excludes firm wholesale load
13
14. YTD 2011 Retail Performance
Retail Load* Weather Impact
(weather normalized) (in millions)
YTD11 vs. YTD10 YTD11 vs. YTD10
East Regulated
East Regulated
(1.2%) Integrated ($63)
Integrated Utilities
Utilities
Ohio Companies 3.2% Ohio Companies ($24)
West Regulated
West Regulated
2.4% Integrated $18
Integrated Utilities
Utilities
Texas Wires 3.2% Texas Wires $20
$0.05 $0.07
Impact on EPS Impact on EPS
* Excludes firm wholesale load
14
15. Industrial Sales Volumes
AEP Industrial GWh by Sector
GWh
2,400
Primary Metal Manuf acturing
Chemical Manuf acturing
Petroleum and Coal Products Manuf acturing Industry 4Q11 vs PY YTD vs PY
Mining (except Oil & Gas) Primary Metals 12.5% 14.1%
Paper Manuf acturing Chemical Mfg -7.1% 0.7%
2,000
Petroleum & Coal Products 2.4% 4.6%
Mining (except Oil & Gas) 6.4% 4.6%
These 5 sectors account for Paper Mfg -0.2% -0.4%
approximately 60% of AEP's total
Industrial Sales.
1,600
1,200
800
400
-
Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11
15
16. Off System Sales Gross Margin Detail
4Q11 Physical off-system sales margins
decreased from last year by $10M
4Q10 4Q11
GWh Realization ($millions) GWh Realization ($millions) Volumes up 10% versus last year
OSS Physical Sales 3,133 $ 16.28 $ 51 3,461 $ 11.85 $ 41
Marketing/Trading - $ 21 - $ 13
Pre-Sharing Gross Margin 3,133 $ 72 3,461 $ 54
AEP/Dayton Hub pricing: 2%
Margin Shared $ (17) $ (4)
decrease in liquidation prices
Net OSS $ 55 $ 50
Lower Trading & Marketing results
by $7M
YTD11
YTD10 YTD11 Physical off-system sales margins
GWh Realization ($millions) GWh Realization ($millions) exceeded last year by $82M
OSS Physical Sales 19,171 $ 15.11 $ 290 25,693 $ 14.48 $ 372
Marketing/Trading - $ 126 - $ 103 Volumes up 34% versus last year
Pre-Sharing Gross Margin 19,171 $ 416 25,693 $ 475
Margin Shared $ (117) $ (132)
Net OSS $ 299 $ 343 AEP/Dayton Hub pricing:3%
increase in liquidation prices
Lower Trading & Marketing results
by $23M
16