The document provides guidance for the company's 2008 financial year. It summarizes the company's accomplishments in 2007, including reducing debt by over $2.5 billion. It outlines the company's assumptions for 2008 including natural gas and oil hedge positions. The document discusses the company's 2008 capital program and core earnings and cash flow estimates, forecasting net income between $760-835 million and discretionary cash between $235-450 million. It also summarizes the pipeline business unit's accomplishments in 2007 and growth backlog increasing to $3 billion.
Public Service Enterprise Group held an investor meeting in Boston on February 13, 2008 to discuss the company's strategic overview and performance. PSEG reported strong earnings growth in 2007 and provided guidance for continued earnings growth in 2008. The company emphasized addressing New Jersey's clean energy goals through initiatives like the Regional Greenhouse Gas Initiative and expanding its nuclear, solar, and peaking generation capacity. Climate change was highlighted as a defining issue that creates both environmental responsibilities and business opportunities for PSEG.
El Paso Corporation reported financial results for the second quarter of 2008. Earnings per share increased to $0.39 compared to $0.29 in the second quarter of 2007, driven by higher natural gas prices and lower interest expense. Adjusted EBITDA was $865 million compared to $819 million in the prior year. However, challenges in 2008 include issues with project execution, cost control, and acquisition integration. For the full year 2008, the company expects earnings per share to be between $1.40-$1.50, adjusted EBITDA to be $3.8-$3.9 billion, and capital expenditures to be $3.8 billion.
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%
El Paso Corporation provides a third quarter 2008 financial and operational update. Key points include:
- Earnings were higher driven by growth in the pipeline and E&P businesses. However, results were impacted by $63 million from changes in fair value of power contracts.
- Cash flow from operations was over $2 billion for the first nine months of 2008.
- Capital expenditures totaled $1.9 billion through September 2008, with a planned $3 billion budget for 2009 focused on pipelines and E&P.
- Pipeline throughput increased 5% from 2007, and three expansion projects were placed in service. However, earnings were impacted by $12 million from hurricanes.
The document provides an overview of Public Service Enterprise Group (PSEG) and its subsidiaries PSEG Power and PSE&G. PSEG is positioned for growth with a diverse portfolio of assets including nuclear, fossil, and renewable generation, electric and gas distribution, and international energy investments. PSEG forecasts improved earnings over 2007-2008 driven by strong wholesale energy markets and investment in regulated transmission and distribution infrastructure. The company also expects to generate excess cash that will be used to reduce debt and fund further growth opportunities.
This document provides an overview and financial outlook for Ameren Corporation. It discusses Ameren's businesses which include regulated electric and gas utilities in Missouri and Illinois. The document outlines Ameren's business plan to achieve operational excellence and improve customer service. It then discusses financial outlook opportunities in Ameren's regulated and non-regulated businesses, including pending rate cases in Illinois and Missouri aimed at increasing allowed returns. The presentation also covers hedging strategies for Ameren's non-regulated generation business.
This document summarizes Northrop Grumman's Q3 2008 financial results. It highlights increases in sales, earnings per share, cash from operations, and new business awards compared to Q3 2007. The CEO also notes share repurchases, a record backlog, opportunities for growth, and raised guidance for full year EPS. Updates are provided on major defense programs and milestones. The CFO discusses the company's liquidity, risk mitigation efforts, and negotiating better contracts. Projections for full year 2008 sales, margins, cash flow, and earnings are included. Potential impacts of market declines on 2009 pension expenses are also estimated.
Third Quarter 2008 Ongoing EBITDA for Spectra Energy Corp. and its segments. Total ongoing EBITDA was $829 million for Q3 2008, up from $709 million in Q3 2007. The U.S. Transmission segment saw ongoing EBITDA of $285 million in Q3 2008, down slightly from $296 million in Q3 2007. The Field Services segment had the largest increase in ongoing EBITDA, from $203 million in Q3 2007 to $309 million in Q3 2008.
Public Service Enterprise Group held an investor meeting in Boston on February 13, 2008 to discuss the company's strategic overview and performance. PSEG reported strong earnings growth in 2007 and provided guidance for continued earnings growth in 2008. The company emphasized addressing New Jersey's clean energy goals through initiatives like the Regional Greenhouse Gas Initiative and expanding its nuclear, solar, and peaking generation capacity. Climate change was highlighted as a defining issue that creates both environmental responsibilities and business opportunities for PSEG.
El Paso Corporation reported financial results for the second quarter of 2008. Earnings per share increased to $0.39 compared to $0.29 in the second quarter of 2007, driven by higher natural gas prices and lower interest expense. Adjusted EBITDA was $865 million compared to $819 million in the prior year. However, challenges in 2008 include issues with project execution, cost control, and acquisition integration. For the full year 2008, the company expects earnings per share to be between $1.40-$1.50, adjusted EBITDA to be $3.8-$3.9 billion, and capital expenditures to be $3.8 billion.
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%
El Paso Corporation provides a third quarter 2008 financial and operational update. Key points include:
- Earnings were higher driven by growth in the pipeline and E&P businesses. However, results were impacted by $63 million from changes in fair value of power contracts.
- Cash flow from operations was over $2 billion for the first nine months of 2008.
- Capital expenditures totaled $1.9 billion through September 2008, with a planned $3 billion budget for 2009 focused on pipelines and E&P.
- Pipeline throughput increased 5% from 2007, and three expansion projects were placed in service. However, earnings were impacted by $12 million from hurricanes.
The document provides an overview of Public Service Enterprise Group (PSEG) and its subsidiaries PSEG Power and PSE&G. PSEG is positioned for growth with a diverse portfolio of assets including nuclear, fossil, and renewable generation, electric and gas distribution, and international energy investments. PSEG forecasts improved earnings over 2007-2008 driven by strong wholesale energy markets and investment in regulated transmission and distribution infrastructure. The company also expects to generate excess cash that will be used to reduce debt and fund further growth opportunities.
This document provides an overview and financial outlook for Ameren Corporation. It discusses Ameren's businesses which include regulated electric and gas utilities in Missouri and Illinois. The document outlines Ameren's business plan to achieve operational excellence and improve customer service. It then discusses financial outlook opportunities in Ameren's regulated and non-regulated businesses, including pending rate cases in Illinois and Missouri aimed at increasing allowed returns. The presentation also covers hedging strategies for Ameren's non-regulated generation business.
This document summarizes Northrop Grumman's Q3 2008 financial results. It highlights increases in sales, earnings per share, cash from operations, and new business awards compared to Q3 2007. The CEO also notes share repurchases, a record backlog, opportunities for growth, and raised guidance for full year EPS. Updates are provided on major defense programs and milestones. The CFO discusses the company's liquidity, risk mitigation efforts, and negotiating better contracts. Projections for full year 2008 sales, margins, cash flow, and earnings are included. Potential impacts of market declines on 2009 pension expenses are also estimated.
Third Quarter 2008 Ongoing EBITDA for Spectra Energy Corp. and its segments. Total ongoing EBITDA was $829 million for Q3 2008, up from $709 million in Q3 2007. The U.S. Transmission segment saw ongoing EBITDA of $285 million in Q3 2008, down slightly from $296 million in Q3 2007. The Field Services segment had the largest increase in ongoing EBITDA, from $203 million in Q3 2007 to $309 million in Q3 2008.
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.
The document discusses Spectra Energy Corp's non-GAAP financial measures that will be discussed in an earnings release call on August 6, 2008. It provides reconciliations of ongoing diluted EPS, ongoing net income, ongoing EBIT, EBITDA for various segments to the most comparable GAAP measures. These non-GAAP measures exclude special items that management believes are not recurring in order to provide a more meaningful evaluation of the company's ongoing operating performance.
Spectra Energy reported higher ongoing EBITDA across most business segments in the first quarter of 2008 compared to the same period in 2007. Total ongoing EBITDA for the company increased to $914 million in Q1 2008 from $697 million in Q1 2007. The U.S. Transmission and Distribution segments saw modest EBITDA gains, while the Western Canada Transmission & Processing and Field Services segments reported significantly higher EBITDA due to increased revenues and equity earnings. The Other segment ongoing EBITDA loss widened slightly to $17 million in Q1 2008 from $12 million in the prior year period.
Northrop Grumman reported financial results for Q1 2008. Earnings per share were reduced by $0.61 due to a shipbuilding charge. The dividend was increased to $0.40 per share and the company repurchased $600 million in stock. Despite the charge, new business awards totaled over $12 billion and the company maintained confidence in achieving 2012 financial targets of $42 billion in sales, 10% operating margin, and $8 EPS.
The document provides an overview of Ameren Corporation's annual finance meeting on May 21, 2008. It includes presentations on Ameren's business segments, financial outlook, earnings guidance, and long-term financial targets. The presentations emphasize Ameren's focus on operational excellence and regulated investment to support earnings growth and a strong dividend.
This document provides an overview of Ameren Corporation's investor meetings in March 2008. It discusses Ameren's financial outlook, including targets of 4-6% average EPS growth from 2007-2010 driven primarily by regulated business growth. It outlines Ameren's regulated and non-regulated generation businesses and investment plans to increase rate base and regulated returns. The presentation also reviews Illinois and Missouri rate case filings and the company's hedging strategies for its non-regulated generation business.
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.
public serviceenterprise group 1Q 2007 Slidesfinance20
This document provides a summary of PSEG's earnings conference call for the first quarter of 2007. Key highlights include:
1) PSEG reported operating earnings of $335 million or $1.32 per share for Q1 2007, an increase from $213 million or $0.85 per share in Q1 2006.
2) PSEG Power delivered strong results driven by the roll-off of below-market contracts and sustained top quartile nuclear performance.
3) PSE&G saw earnings growth from rate relief received in late 2006 and more normal weather compared to unusually warm conditions in 2006.
4) Cash flow and liquidity remain strong, allowing PSEG to reduce parent debt levels
energy future holindings 081908_Q208_Investor_Call_Deck_FINALfinance29
The document is the transcript from an investor call held by EFH Corp. on August 19, 2008. It includes:
1) A safe harbor statement noting forward-looking statements are subject to risks and uncertainties outlined in SEC filings.
2) An agenda for the call including discussions of financial overview, strategy/operational results, and Q&A.
3) Summaries of key operational results for Luminant including solid nuclear performance and progress on new plant construction, and for TXU Energy including customer growth and initiatives.
This document provides an overview of Ameren Corporation's presentation at the Citi Power, Gas & Utilities Conference on June 5-6, 2008. The presentation discusses Ameren's regulated electric and gas utility businesses in Missouri and Illinois, its non-rate-regulated generation business, and provides its financial outlook and earnings guidance for 2008. The presentation also reviews Ameren's investment plans and growth opportunities across its businesses.
Universal Health Services is one of the largest hospital management companies in the US. In 2004, revenues grew 16% to $3.9 billion but net income fell 15% due to rising bad debt. UHS is addressing challenges by expanding facilities, investing in new technologies, and focusing on high-quality care. Recent growth strategies included opening new hospitals, expanding existing facilities, and acquiring hospitals in growing markets.
Jim Cleary, president of El Paso Western Pipelines, presented on the Ruby Pipeline project at a gas and oil conference. The presentation included forward-looking statements and projections with the required cautionary language about the risk factors that could affect actual results. Cleary outlined the Ruby Pipeline project, explaining why it was needed now to transport gas from the Rockies to markets in California and the Northwest. He provided a map and details of the 680-mile pipeline with a capacity of 1.2 to 2 billion cubic feet per day.
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...finance49
El Paso Corporation provides natural gas and related energy products. In 2008, it accomplished several key projects including placing 7 pipeline projects in service. However, it faces challenges from low commodity prices and uncertain capital markets. Key priorities are constructing its pipeline backlog on time and budget, and focusing exploration and production investments to preserve opportunities and maximize returns. El Paso increased its liquidity position and reduced borrowing costs through several financing transactions. It has excellent hedges for 2009 natural gas production and established initial hedges for 2010. Guidance for 2009 assumes $2.7-3.1 billion in capital spending and targets EPS of $0.85-1.05, EBIT of $2.0-2.3 billion,
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 El Paso Pipeline Group, a leading natural gas pipeline operator in North America. It highlights the company's broad network of pipelines, strong connectivity to markets and supply basins, and $4 billion growth project backlog. The summary also notes the company's focus on key regions like the Northeast, Southeast, Rockies, and Southwest, and its strategy of leveraging LNG experience through Gulf LNG and Elba Island terminal projects.
This document is a Form 10-K annual report filed by Universal Health Services, Inc. with the SEC for the fiscal year ended December 31, 2003. It provides an overview of UHS's business operations, including that it operates acute care hospitals and behavioral health facilities across the US, Puerto Rico, and France. It also summarizes UHS's recent acquisitions and development activities in 2003 and early 2004, which included acquiring or opening several new hospitals. The report includes standard sections for a 10-K filing, such as business descriptions, properties, legal proceedings, market information for common stock, selected financial data, and management discussion.
El Paso Corporation is focused on growing its pipeline and E&P businesses in a sustainable manner over the long term. The company has a large committed growth backlog for its pipeline segment of nearly $4 billion. In its E&P segment, El Paso expects 8-12% production growth from 2007-2010 through development of its multi-year drilling inventory. Overall, El Paso aims to deliver meaningful and sustainable long-term growth through its pipeline and E&P operations.
- El Paso Corporation is an energy company focused on providing natural gas and related energy products.
- The presentation outlines El Paso's vision, assets, growth strategy, and financial outlook. It discusses plans for production growth in key basins like Arklatex through repeatable drilling programs.
- El Paso expects to deliver 8-12% production growth from 2007-2010 through development of its multi-year inventory of drilling opportunities, particularly in U.S. onshore areas like Arklatex and its international assets in Brazil.
el paso 22758BEF-CBE8-4368-BDC6-D02434EE5C13_EP_4Q08OpStatsFinalfinance49
The document provides operating statistics for El Paso Corporation for the fourth quarter of 2008. It includes consolidated statements of income, operating results, and business segment results for Pipelines, Exploration and Production, Marketing, Power, and Corporate/Other. Key details include a net loss of $1.68 billion for Q4 2008 driven by $2.66 billion in ceiling test charges in Exploration and Production. Pipelines EBIT was $319 million for Q4. Exploration and Production had an EBIT loss of $2.526 billion for the quarter due to the ceiling test charges.
John Hopper, Vice President and Treasurer of El Paso Corporation, presented at the Merrill Lynch Leveraged Finance Conference on November 13, 2007. The presentation summarized that El Paso is a meaningful company doing meaningful work and delivering meaningful results. It highlighted the company's two core businesses of interstate pipelines and exploration and production. The pipelines business has a $2 billion project backlog and visible 4-6% EBIT growth. The exploration and production business has rapidly improving results with a balanced portfolio and 5 years of project inventory. El Paso is making progress high-grading its portfolio and has had successful exploration in Brazil.
El Paso Corporation provides natural gas and related energy products in North America. It operates 42,000 miles of interstate pipelines and has 2.8 trillion cubic feet of proven natural gas reserves. The company has $8 billion in committed pipeline expansion projects through 2013 to support 10%+ annual EBIT growth. El Paso also plans 8-12% annual production growth through 2010 by developing unconventional gas resources and international exploration.
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.
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.
The document discusses Spectra Energy Corp's non-GAAP financial measures that will be discussed in an earnings release call on August 6, 2008. It provides reconciliations of ongoing diluted EPS, ongoing net income, ongoing EBIT, EBITDA for various segments to the most comparable GAAP measures. These non-GAAP measures exclude special items that management believes are not recurring in order to provide a more meaningful evaluation of the company's ongoing operating performance.
Spectra Energy reported higher ongoing EBITDA across most business segments in the first quarter of 2008 compared to the same period in 2007. Total ongoing EBITDA for the company increased to $914 million in Q1 2008 from $697 million in Q1 2007. The U.S. Transmission and Distribution segments saw modest EBITDA gains, while the Western Canada Transmission & Processing and Field Services segments reported significantly higher EBITDA due to increased revenues and equity earnings. The Other segment ongoing EBITDA loss widened slightly to $17 million in Q1 2008 from $12 million in the prior year period.
Northrop Grumman reported financial results for Q1 2008. Earnings per share were reduced by $0.61 due to a shipbuilding charge. The dividend was increased to $0.40 per share and the company repurchased $600 million in stock. Despite the charge, new business awards totaled over $12 billion and the company maintained confidence in achieving 2012 financial targets of $42 billion in sales, 10% operating margin, and $8 EPS.
The document provides an overview of Ameren Corporation's annual finance meeting on May 21, 2008. It includes presentations on Ameren's business segments, financial outlook, earnings guidance, and long-term financial targets. The presentations emphasize Ameren's focus on operational excellence and regulated investment to support earnings growth and a strong dividend.
This document provides an overview of Ameren Corporation's investor meetings in March 2008. It discusses Ameren's financial outlook, including targets of 4-6% average EPS growth from 2007-2010 driven primarily by regulated business growth. It outlines Ameren's regulated and non-regulated generation businesses and investment plans to increase rate base and regulated returns. The presentation also reviews Illinois and Missouri rate case filings and the company's hedging strategies for its non-regulated generation business.
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.
public serviceenterprise group 1Q 2007 Slidesfinance20
This document provides a summary of PSEG's earnings conference call for the first quarter of 2007. Key highlights include:
1) PSEG reported operating earnings of $335 million or $1.32 per share for Q1 2007, an increase from $213 million or $0.85 per share in Q1 2006.
2) PSEG Power delivered strong results driven by the roll-off of below-market contracts and sustained top quartile nuclear performance.
3) PSE&G saw earnings growth from rate relief received in late 2006 and more normal weather compared to unusually warm conditions in 2006.
4) Cash flow and liquidity remain strong, allowing PSEG to reduce parent debt levels
energy future holindings 081908_Q208_Investor_Call_Deck_FINALfinance29
The document is the transcript from an investor call held by EFH Corp. on August 19, 2008. It includes:
1) A safe harbor statement noting forward-looking statements are subject to risks and uncertainties outlined in SEC filings.
2) An agenda for the call including discussions of financial overview, strategy/operational results, and Q&A.
3) Summaries of key operational results for Luminant including solid nuclear performance and progress on new plant construction, and for TXU Energy including customer growth and initiatives.
This document provides an overview of Ameren Corporation's presentation at the Citi Power, Gas & Utilities Conference on June 5-6, 2008. The presentation discusses Ameren's regulated electric and gas utility businesses in Missouri and Illinois, its non-rate-regulated generation business, and provides its financial outlook and earnings guidance for 2008. The presentation also reviews Ameren's investment plans and growth opportunities across its businesses.
Universal Health Services is one of the largest hospital management companies in the US. In 2004, revenues grew 16% to $3.9 billion but net income fell 15% due to rising bad debt. UHS is addressing challenges by expanding facilities, investing in new technologies, and focusing on high-quality care. Recent growth strategies included opening new hospitals, expanding existing facilities, and acquiring hospitals in growing markets.
Jim Cleary, president of El Paso Western Pipelines, presented on the Ruby Pipeline project at a gas and oil conference. The presentation included forward-looking statements and projections with the required cautionary language about the risk factors that could affect actual results. Cleary outlined the Ruby Pipeline project, explaining why it was needed now to transport gas from the Rockies to markets in California and the Northwest. He provided a map and details of the 680-mile pipeline with a capacity of 1.2 to 2 billion cubic feet per day.
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...finance49
El Paso Corporation provides natural gas and related energy products. In 2008, it accomplished several key projects including placing 7 pipeline projects in service. However, it faces challenges from low commodity prices and uncertain capital markets. Key priorities are constructing its pipeline backlog on time and budget, and focusing exploration and production investments to preserve opportunities and maximize returns. El Paso increased its liquidity position and reduced borrowing costs through several financing transactions. It has excellent hedges for 2009 natural gas production and established initial hedges for 2010. Guidance for 2009 assumes $2.7-3.1 billion in capital spending and targets EPS of $0.85-1.05, EBIT of $2.0-2.3 billion,
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 El Paso Pipeline Group, a leading natural gas pipeline operator in North America. It highlights the company's broad network of pipelines, strong connectivity to markets and supply basins, and $4 billion growth project backlog. The summary also notes the company's focus on key regions like the Northeast, Southeast, Rockies, and Southwest, and its strategy of leveraging LNG experience through Gulf LNG and Elba Island terminal projects.
This document is a Form 10-K annual report filed by Universal Health Services, Inc. with the SEC for the fiscal year ended December 31, 2003. It provides an overview of UHS's business operations, including that it operates acute care hospitals and behavioral health facilities across the US, Puerto Rico, and France. It also summarizes UHS's recent acquisitions and development activities in 2003 and early 2004, which included acquiring or opening several new hospitals. The report includes standard sections for a 10-K filing, such as business descriptions, properties, legal proceedings, market information for common stock, selected financial data, and management discussion.
El Paso Corporation is focused on growing its pipeline and E&P businesses in a sustainable manner over the long term. The company has a large committed growth backlog for its pipeline segment of nearly $4 billion. In its E&P segment, El Paso expects 8-12% production growth from 2007-2010 through development of its multi-year drilling inventory. Overall, El Paso aims to deliver meaningful and sustainable long-term growth through its pipeline and E&P operations.
- El Paso Corporation is an energy company focused on providing natural gas and related energy products.
- The presentation outlines El Paso's vision, assets, growth strategy, and financial outlook. It discusses plans for production growth in key basins like Arklatex through repeatable drilling programs.
- El Paso expects to deliver 8-12% production growth from 2007-2010 through development of its multi-year inventory of drilling opportunities, particularly in U.S. onshore areas like Arklatex and its international assets in Brazil.
el paso 22758BEF-CBE8-4368-BDC6-D02434EE5C13_EP_4Q08OpStatsFinalfinance49
The document provides operating statistics for El Paso Corporation for the fourth quarter of 2008. It includes consolidated statements of income, operating results, and business segment results for Pipelines, Exploration and Production, Marketing, Power, and Corporate/Other. Key details include a net loss of $1.68 billion for Q4 2008 driven by $2.66 billion in ceiling test charges in Exploration and Production. Pipelines EBIT was $319 million for Q4. Exploration and Production had an EBIT loss of $2.526 billion for the quarter due to the ceiling test charges.
John Hopper, Vice President and Treasurer of El Paso Corporation, presented at the Merrill Lynch Leveraged Finance Conference on November 13, 2007. The presentation summarized that El Paso is a meaningful company doing meaningful work and delivering meaningful results. It highlighted the company's two core businesses of interstate pipelines and exploration and production. The pipelines business has a $2 billion project backlog and visible 4-6% EBIT growth. The exploration and production business has rapidly improving results with a balanced portfolio and 5 years of project inventory. El Paso is making progress high-grading its portfolio and has had successful exploration in Brazil.
El Paso Corporation provides natural gas and related energy products in North America. It operates 42,000 miles of interstate pipelines and has 2.8 trillion cubic feet of proven natural gas reserves. The company has $8 billion in committed pipeline expansion projects through 2013 to support 10%+ annual EBIT growth. El Paso also plans 8-12% annual production growth through 2010 by developing unconventional gas resources and international exploration.
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.
This document provides an overview of Universal Health Services' financial performance in 2002. Key points:
- Net revenues increased 15% to $3.26 billion in 2002 compared to 2001, driven by revenue growth at existing and acquired facilities.
- Operating income increased 17% to $516 million in 2002. Overall operating margins were 15.8% in 2002, compared to 15.6% in 2001.
- Net income increased to $175.4 million in 2002 from $99.7 million in 2001, primarily due to increased operating income from existing and acquired facilities.
- Acute care services revenues grew 10% at existing US/Puerto Rico facilities in 2002, driven by a 6.9
El Paso Corporation reported financial and operational results for the third quarter of 2007. Earnings per share from continuing operations increased 33% compared to the third quarter of 2006. The company completed its acquisition of Peoples Energy and exploration success in Brazil. Several pipeline expansion projects remain on track to increase the company's natural gas transportation capacity going forward. Overall, the company delivered solid financial results and continues to execute on its strategic growth initiatives.
el paso 11_14_Foshee_BofAConferenceFINALv2(Web)finance49
- El Paso Corporation is an energy company that provides natural gas and related energy products.
- The company has implemented a comprehensive plan to meet its 2009 debt maturities and fund its $8 billion pipeline backlog while preserving opportunities in its exploration and production business.
- El Paso has significant resource potential from unconventional plays like shale gas that could provide long-term growth.
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.
el paso F01E85AA-D20E-424D-B73A-588DF65EC38A_Proxy_Statement_2009finance49
The document announces El Paso Corporation's 2009 Annual Meeting of Stockholders. The meeting will be held on May 6, 2009 at the Doubletree Hotel Houston Downtown in Houston, Texas. Stockholders will vote on the election of 11 directors, approval of amendments to the 2005 Omnibus Incentive Compensation Plan and Employee Stock Purchase Plan, and ratification of Ernst & Young LLP as the independent registered public accounting firm. Three directors are retiring pursuant to the company's mandatory retirement policy. Stockholders are encouraged to vote and participate in the meeting.
Chiquita Brands experienced a difficult year in 1999 due to severe banana price declines in Europe resulting from an overallocation of EU banana import licenses. Weak economies in Eastern Europe and Russia also negatively impacted pricing. Operating income declined compared to 1998. However, the company's Processed Foods business saw improved earnings. Chiquita completed a workforce reduction to streamline operations and generate annual savings. The EU banana import regime remains in noncompliance with international trade laws and continues to be challenged at the WTO.
El Paso Corporation reported financial results for the second quarter of 2008. Earnings per share increased to $0.39 compared to $0.29 in the second quarter of 2007, driven by higher natural gas prices and lower interest expense. Adjusted EBITDA was $865 million compared to $819 million in the prior year. However, challenges in 2008 include issues with project execution, cost control, and acquisition integration. For the full year 2008, the company expects earnings per share to be between $1.40-$1.50, capital expenditures to be $3.8 billion, and adjusted EBITDA to be $3.8-$3.9 billion.
public serviceenterprise group Boston Investor Meetingfinance20
Public Service Enterprise Group held an investor meeting in Boston on February 13, 2008 to discuss the company's strategic overview and performance. PSEG reported strong earnings growth in 2007 and provided guidance for continued earnings growth in 2008. The company emphasized addressing New Jersey's clean energy goals through initiatives like the Regional Greenhouse Gas Initiative and expanding its nuclear, solar, and peaking generation capacity. Climate change was highlighted as a defining issue that creates both environmental responsibilities and business opportunities for PSEG.
El Paso Corporation reported higher third quarter 2008 earnings compared to third quarter 2007, driven by growth in its pipeline and exploration and production businesses. Earnings were impacted by unrealized mark-to-market gains and losses on derivatives, as well as changes in the fair value of power contracts and legacy indemnifications. While earnings were strong, El Paso also outlined plans to maintain liquidity through asset sales to preserve its future growth opportunities and weather current market conditions.
public serviceenterprise group european_tripfinance20
1) Public Service Enterprise Group (PSEG) is holding a European marketing trip from February 25-29, 2008 to promote its business.
2) PSEG provides forward-looking statements about its performance, which are subject to various risks and uncertainties that could cause actual results to differ.
3) PSEG presents non-GAAP operating earnings in addition to GAAP net income to exclude certain one-time items in order to provide a consistent performance measure.
public serviceenterprise group european_tripfinance20
Public Service Enterprise Group (PSEG) held a European marketing trip from February 25-29, 2008. The document discusses PSEG's strategic overview, including its various business segments, assets, market capitalization, and 2007 and 2008 earnings guidance. It also discusses the current business environment around issues like climate change, infrastructure needs, and capacity requirements that create opportunities for PSEG's long-term growth.
This document summarizes Northrop Grumman's Q3 2008 financial results. It highlights increases in sales, earnings per share, cash from operations, and new business awards compared to Q3 2007. The CEO also notes share repurchases, a record backlog, opportunities for growth, and raised guidance for full year EPS. Updates are provided on major defense programs and milestones. The CFO discusses the company's liquidity, risk mitigation efforts, and negotiating better contracts. Projections for full year 2008 sales, margins, cash flow, and earnings are included. Potential impacts of market declines on 2009 pension expenses are also estimated.
This document summarizes Northrop Grumman's Q3 2008 financial results. It highlights increases in sales, earnings per share, cash from operations, and new business awards compared to Q3 2007. The CEO also notes share repurchases, a record backlog, opportunities for growth, and raised guidance for full year EPS. Updates are provided on major defense programs and milestones. The CFO discusses the company's liquidity, risk mitigation efforts, and negotiating better contracts. Projections for full year 2008 sales, margins, cash flow, and earnings are included. Potential impacts of market declines on 2009 pension expenses are also estimated.
This document provides an overview and estimates for MetLife's 4th quarter 2008 results and full year 2008 results. It also reviews MetLife's 2009 plan and discusses key topics such as their variable annuities business and GMIB rider liability. Some of the key points include estimated operating earnings of ($50)-$150 million for Q4 2008, realized gains of $1,200-$1,800 million, and an operating EPS estimate of $3.50-$3.75 for full year 2008. The 2009 plan projects operating earnings of $2,920-$3,250 million and an adjusted operating EPS of $3.60-$4.00. MetLife also discusses their hedging activities and disputes analyses claiming a
This document summarizes Spectra Energy's third quarter 2008 earnings review. Key points include:
- Ongoing fully diluted EPS was $0.49, a 29% increase over third quarter 2007. All business segments performed well due to robust commodity prices.
- Major 2008 expansion projects are substantially complete and expected to exceed targeted returns.
- Field Services earnings increased 67% from third quarter 2007 due to higher commodity prices and favorable hedge positions.
- The company has a healthy balance sheet and liquidity position with $1.7 billion in available credit as of September 30, 2008.
OxyChem reported lower core earnings in 4Q08 compared to 4Q07, driven by lower oil and gas prices. Core oil and gas earnings were down $1.5 billion due to a $1.4 billion decline from lower sales prices, partially offset by higher sales volumes. Chemical earnings improved due to higher caustic soda margins. Oxy expects to replace 150% of its 2008 oil and gas production and will reduce its 2009 capital budget to $3.5 billion to focus on high-return projects given current prices. Oxy also expects to lower costs through supplier negotiations and overhead reductions.
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...finance49
El Paso Corporation provides natural gas and related energy products. In 2008, it accomplished several key projects including placing 7 pipeline projects in service. However, it faces challenges from low commodity prices and uncertain capital markets. Key priorities are constructing its pipeline backlog on time and budget, and focusing exploration and production investments to preserve opportunities and maximize returns. El Paso increased its liquidity position and reduced borrowing costs through several financing transactions. It has excellent hedges for 2009 natural gas production and established initial hedges for 2010. Guidance for 2009 assumes $2.7-3.1 billion in capital spending and targets EPS of $0.85-1.05, EBIT of $2.0-2.3 billion,
Spectra Energy reported ongoing earnings per share of $0.38 for the third quarter of 2007, up 32% from the third quarter of 2006. Key drivers of earnings growth included excellent results from U.S. Transmission, Distribution, and Western Canada Transmission and Processing segments. The company is confident it will achieve its 2007 financial goals and remains committed to delivering 8-10% total shareholder return through steady growth and an attractive dividend.
fpl group library.corporate-library. corporate-finance17
FPL Group reported record adjusted earnings per share for 2008, driven by strong performance at NextEra Energy Resources. NextEra Energy Resources had a record year and added approximately 1,300 MW of wind capacity. FPL's earnings were challenged by a weak Florida economy and flat customer growth. FPL will seek a new rate agreement in 2009 to support investments in cleaner generation. NextEra Energy Resources continues to perform well due to contributions from new and existing projects. FPL Group expects adjusted EPS of $4.05 to $4.25 for 2009.
The document provides an overview of Kellogg Company's financial results for the first quarter of 2008, including:
1) Net sales increased 10% year-over-year, with 5% internal growth driven by price increases, product mix, and volume.
2) Operating profit grew 9% year-over-year, with 6% internal growth achieved through productivity savings and price increases despite higher costs.
3) Guidance for full-year 2008 forecasts mid-single digit growth in internal net sales and operating profit, with EPS of $2.92 to $2.97 despite cost pressures and investments in innovation.
public serviceenterprise group 1Q08Slidesfinance20
PSEG reported first quarter 2008 earnings in line with expectations. PSEG Power earnings increased from improved pricing and recontracting efforts. PSE&G earnings were flat as higher revenues were offset by weather impacts. PSEG Energy Holdings returned to profitability driven by stronger international operations and tax benefits. Management expects $3 billion in cash availability through 2011 for growth and stock repurchases.
public serviceenterprise group 1Q08Slidesfinance20
PSEG reported first quarter 2008 earnings in line with expectations. PSEG Power earnings increased from improved pricing in energy markets and strong operations. PSE&G earnings were flat compared to last year. PSEG Energy Holdings returned to profitability driven by improved performance at international assets. Cash from operations was $100 million higher than the prior year quarter. PSEG expects to have $3 billion in cash available through 2011 to pursue growth or stock repurchases.
xcel energy 9_4LehmanConfPresentation952007SECfinance26
This document summarizes a presentation given by Ben Fowke, Vice President and CFO of Xcel Energy, at a Lehman Brothers conference on September 5, 2007. Fowke outlines Xcel Energy's value proposition as a low-risk regulated utility with a constructive regulatory environment and opportunities for investment and growth. He highlights recent accomplishments and construction projects on budget and on schedule. Fowke projects continued investment opportunities, earnings per share growth of 5-7% annually, and dividend growth of 2-4% per year through 2011 while maintaining a dividend yield of approximately 4.5%.
xcel energy 9_4LehmanConfPresentation952007SECfinance26
This document summarizes a presentation given by Ben Fowke, Vice President and CFO of Xcel Energy, at a Lehman Brothers conference on September 5, 2007. Fowke outlines Xcel Energy's value proposition as a low-risk regulated utility with a constructive regulatory environment and opportunities for investment and growth. He highlights recent accomplishments and construction projects coming in on time and on budget. Fowke also discusses Xcel Energy's plans for continued investment, earnings growth, and dividend growth through 2011 while maintaining its investment grade credit ratings.
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.
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 investor presentation provides an overview of Jarden Corporation. In 3 sentences: Jarden is a diversified global consumer products company with a portfolio of over 100 brands across multiple segments. It has established processes for continuous improvement to drive organic growth and integrate acquisitions. The presentation discusses Jarden's strategy, brand strengths, growth approach, operating culture, and framework for ongoing process improvement.
This investor presentation provides an overview of Jarden Corporation. In 3 sentences: Jarden is a diversified global consumer products company with a portfolio of over 100 brands across multiple segments. It has established resilient business platforms and market-leading brands. Jarden's growth strategy focuses on organic growth through increased investment and acquisitions of core, tuck-in businesses that strategically fit with its international focus.
Alltrista Corporation is a leading provider of niche consumer products used for home food preservation. In 2001, Alltrista undertook strategic initiatives to focus on its core consumer products business, including the divestiture of non-core businesses. As a result, Alltrista reported a net loss of $85.4 million for 2001 due to special charges associated with divestitures and restructuring costs. However, the divestitures and restructuring positioned Alltrista to focus on growing its consumer products business through the planned acquisition of Tilia International, which would make Alltrista the market leader in home vacuum packaging systems.
Alltrista sold off non-core businesses in 2001 to focus on consumer products, especially those related to home food preservation. This included brands for canning and vacuum packaging. The divestitures removed financial burdens and generated tax refunds. Alltrista also closed an office to reduce costs. Going forward, the strategy is to leverage leadership in niche consumer product markets to drive growth, with an acquisition of Tilia planned to expand into vacuum packaging.
This document is Jarden Corporation's 2002 Annual Report. It provides an overview of the company's performance in 2002 including financial highlights and summaries of its main business segments: branded consumables, home vacuum packaging, plastic consumables, and other. It discusses the company's acquisition of Tilia and strategic direction to build a world-class consumer products company with leading market shares in niche branded consumable products.
This document is Jarden Corporation's 2002 Annual Report. It provides an overview of the company's performance in 2002 including financial highlights and summaries of its main business segments: branded consumables, home vacuum packaging, plastic consumables, and other. It discusses the company's acquisition of Tilia and strategic direction to build a world-class consumer products company with leading market shares in niche branded consumable products.
The 2003 annual report summarizes Jarden Corporation's financial and operating results for the year. It discusses record financial performance with revenues surpassing $500 million and cash flow from operations exceeding $70 million. It also highlights the acquisitions of Diamond Brands and Lehigh Consumer Products, which added over $250 million in annual revenue. The Chairman expresses optimism that 2004 will be another record year as the company continues executing its strategy of building a portfolio of market-leading consumer brands.
The 2003 annual report summarizes Jarden Corporation's financial and operating results for the year. It discusses record financial performance with revenues surpassing $500 million and cash flow from operations exceeding $70 million. It also highlights the acquisitions of Diamond Brands and Lehigh Consumer Products, which added over $250 million in annual revenue. The Chairman expresses optimism that this is just the beginning and that Jarden will continue executing its strategy to deliver strong growth.
The document summarizes Jarden Corporation's 2004 annual report. It discusses record financial results in 2004, including 5% organic sales growth and 18% EBITDA margins. It also highlights acquisitions of The United States Playing Card Company and American Household, Inc., owner of brands like Coleman and Sunbeam. The acquisition of American Household tripled Jarden's revenue base and provides opportunities for margin expansion and earnings growth.
The document is Jarden Corporation's 2004 annual report. It discusses Jarden's record financial results in 2004, including organic sales growth of 5% and EBITDA margins of 18% excluding non-cash charges. It also summarizes two acquisitions completed in 2004 - The United States Playing Card Company and American Household, Inc. - and how they will help Jarden expand its business and drive margin improvement towards a target of 15% over five years. The report highlights the company's focus on innovation through new product introductions and maintaining financial flexibility.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
Jarden Corporation reported record financial performance in 2006, with net sales increasing 21% to $3.85 billion and consolidated segment earnings growing 23% to $442 million. The annual report provides an overview of the company's three business segments - Branded Consumables, Consumer Solutions, and Outdoor Solutions - and their financial contributions. It also highlights new products, operational efficiencies, and initiatives around veterans hiring, outdoor recreation, and sustainability. Chairman Martin Franklin expressed confidence that the company is on track to double adjusted earnings per share within three to five years.
Chiquita Brands International announced a proposed restructuring of $862 million in publicly-held debt discussed in the annual report. If successful, the restructuring would convert a significant portion of the debt into common equity, diluting existing shareholders. The restructuring process is still in the early stages and will continue past the customary May date for the annual shareholder meeting, which has been rescheduled for September 12, 2001. Shareholders will receive proxy materials in advance of the September meeting. The company's website and SEC filings provide information on the restructuring, operations, and other developments.
This document provides an update on Chiquita's progress against its three-year strategic plan to focus on its core banana business, drive better performance through cost reductions, and strengthen its balance sheet. Some key updates include selling non-core assets to focus on bananas, implementing cost saving programs with a target of $70 million in annual savings by 2005, reducing debt by over $100 million in 2002, and plans to invest cash flow into new growth opportunities once debt targets are met.
This document is Chiquita Brands International's 2003 annual report. It summarizes the company's financial performance and operational highlights for 2003. The key points are:
- Operating income doubled to $140 million compared to previous periods, due in part to asset sales. Debt was reduced by $122 million, achieving a $400 million target early.
- Productivity increased 12% on owned banana farms and a new fresh cut fruit business was successfully launched. Labor and food safety certifications were also earned.
- The company aims to leverage its brand and expand into higher-margin fruit businesses, targeting 30% of revenues from new businesses in 5 years. Transformation will include a focus on marketing and new talent.
Chiquita Brands International is a leading marketer and producer of bananas and other fresh produce. In 2004, the company achieved several financial and operational goals including 18% sales growth to $3.1 billion, a 23% increase in operating cash flow to $92 million, and an 11% reduction in total debt. The CEO discusses the company's strategy to strengthen its core banana business, pursue profitable growth through new acquisitions and segments, build a high-performance organization, and improve profitability in North America. Key goals for 2005 include completing the acquisition of Fresh Express to diversify product offerings and integrating the new leadership team to execute the long-term strategy.
This document is Chiquita Brands International's 2005 Annual Report. Some key highlights include:
- Net sales grew 27% to a record $3.9 billion in 2005. Operating income increased 66% to $188 million and net income grew 138% to $131 million.
- The company continued strengthening its management team and board. It also acquired Fresh Express, the US market leader in value-added salads.
- In Europe, Chiquita reinforced its brand leadership in the face of a controversial new EU banana import regime. In North America, it achieved its first meaningful increase in banana pricing in over 15 years.
- Fresh Express accelerated its market leadership in retail value-added salads to a
This document is Chiquita Brands International's 2006 Annual Report. It summarizes the company's financial highlights for 2006, including a net loss of $96 million compared to a net income of $131 million in 2005. It also discusses challenges the company faced in 2006, such as higher EU tariffs on banana imports and an E. coli outbreak affecting the fresh-cut industry. The letter from the Chairman and CEO provides additional context on the company's operational and strategic progress in 2006 despite facing difficulties that impacted financial performance.
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University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
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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.
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.
South Dakota State University degree offer diploma Transcriptynfqplhm
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Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
1. a meaningful company
doing meaningful work
delivering meaningful results
2008 Guidance Conference Call
January 24, 2008
2. Cautionary Statement
Regarding Forward-looking Statements
This presentation includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. The company has made every reasonable effort to ensure that the information
and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a
variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations
expressed in this presentation, including, without limitation, changes in reserve estimates based upon internal and third party
reserve analyses; our ability to meet production volume targets in our Exploration and Production segment; our ability to
obtain necessary governmental approvals for proposed pipeline and E&P projects and our ability to successfully construct
and operate such projects; the risks associated with recontracting of transportation commitments by our pipelines; regulatory
uncertainties associated with pipeline rate cases; actions by the credit rating agencies; the successful close of our financing
transactions; our ability to close our announced asset sales on a timely basis; changes in commodity prices and basis
differentials for oil, natural gas, and power; inability to realize anticipated synergies and cost savings associated with
restructurings and divestitures on a timely basis or at all; general economic and weather conditions in geographic regions or
markets served by the company and its affiliates, or where operations of the company and its affiliates are located; the
uncertainties associated with governmental regulation; political and currency risks associated with international operations of
the company and its affiliates; competition; and other factors described in the company's (and its affiliates') Securities and
Exchange Commission filings. While the company makes these statements and projections in good faith, neither the company
nor its management can guarantee that anticipated future results will be achieved. Reference must be made to those filings for
additional important factors that may affect actual results. The company assumes no obligation to publicly update or revise
any forward-looking statements made herein or any other forward-looking statements made by the company, whether as a
result of new information, future events, or otherwise.
Non-GAAP Financial Measures
This presentation contains non-GAAP financial measures as defined in the SEC’s Regulation G. More information on these
non-GAAP financial measures, including EBITDA and E&P cash costs, and the required reconciliations under Regulation G are
set forth in the Appendix to this presentation.
2
3. Significant Value Creation in 2007
• Pipelines had another outstanding year
– EBIT at high end or above target range
– 6 expansions placed in service
• E&P hit its targets
– Production up 8%; unit LOE down 7%
– Sharp improvement with high grading
– Brazil exploration success provides visible growth
• ANR sale restored financial strength and flexibility
• Successful MLP IPO creates new opportunities
– Better valuation
– Improved competitive position
– Lower-cost source of capital
Significant momentum entering 2008
3
4. Continue Building Shareholder Value
• Pipelines executing $3 billion committed inventory
– 5-year EBIT growth rate now 6%–8%
– Will increase with pending projects
• MLP will continue to enhance shareholder value
• E&P has 8% - 12% multi-year production growth
– Faster growing, more profitable and predictable
• Excess cash flow targeted to best option for shareholders
Excellent outlook for both businesses
4
6. 2007 Financial Accomplishments
• Fifth year of improved profitability
• Reduced debt by more than $2.5 billion
• Interest expense down 22%
• Pipelines back to investment grade
– Very important given expansion profile
• Successful IPO of El Paso Pipeline Partners
• Updated/expanded credit facilities
• Repurchased/refinanced > $5 billion debt
6
7. Assumptions for 2008 Plan
• E&P domestic assets assumed sold on March 31, 2008
• $7.50/MMBtu Henry Hub
– 95% realization before hedges
• $70.00/Bbl WTI
– 92% realization before hedges
7
8. 2008 Natural Gas and
Oil Hedge Positions
– Positions as of January 15, 2008
141 TBtu
Average cap $10.05/MMBtu
Ceiling
108 TBtu 33 TBtu
2008 Gas $8.00 floor/ $7.65
$10.80 ceiling fixed price
Floors
141 TBtu
Balance at
Average floor $7.92/MMBtu
Market Price
3.7 MMBbls
Ceiling
Average cap $81.44/Bbl
2.8 MMBbls 0.9 MMBbls
2008 Oil $89.58 $57.03 ceiling/
fixed price $55.00 floor
Floors
3.7 MMBbls
Average floor $80.94/Bbl
8
Note: See full Production-Related Derivative Schedule in Appendix
9. 2008 Capital Program
$ Millions
Pipelines E&P Corporate Total
Maintenance $ 430 $1,150 $100* $1,680
Growth 1,180 500 0 1,680
Total $1,610 $1,650 $100 $3,360
Growth capital 50% of total
9
*Includes building renovation of $85 million
10. 2008 Core Earnings and Cash Flow
($ Millions, Except EPS)
EPS
$1.00–$1.10
Net income from continuing operations $760–$835*
Non-cash adjustments
$1,320
DD&A
380–420
Non-cash taxes
(395)–(295)
Working capital changes & other
$2,065–$2,280
Operating cash
$150
Dividends
1,680
Maintenance capital
$235–$450
Discretionary cash
1,680
Growth capital
1,100–1,300
Asset sales: E&P, Power, Other
$(345)–$70
Cash impact
10
*Assumed approximate tax rate of 34.5% and interest expense of approx $930 MM
11. Pipeline
Business Unit
a meaningful company doing meaningful work delivering meaningful results 11 11
12. 2007 Accomplishments
Pipelines Adding Value
• EBIT at high end or above target range (after 28%
increase in 2006)
• Six projects ($560 MM) placed in service
• Five new committed projects ($440 MM)
• Agreement to acquire 50% Gulf LNG
– Fully contracted; 2011 in-service; $1.1 billion capex
• Committed inventory grew from $2.2 billion to $3 billion
12
13. Growth Backlog now $3 Billion
WIC Kanda Lateral
$189 MM TGP Concord
WIC Medicine Bow
January 2008 $21 MM
Expansion
400 MMcf/d Nov 2009
$32 MM 30 MMcf/d
July 2008
330 MMcf/d
CIG High Plains Pipeline
$196 MM TGP Essex-Middlesex
WIC Piceance
October 2008 $76 MM
Lateral
900 MMcf/d Nov 2008
CP Coral Expansion $62 MM 82 MMcf/d
$23 MM 4Q 2009
CIG Totem Storage July 2008 200 MMcf/d
$120 MM SNG Elba Expansion
70 MMcf/d
July 2009 III & Elba Express
200 MMcf/d $1.1 Billion
2010–2013
8.4 Bcf / 1,115 MMcfd
TGP Carthage SNG Cypress Phase II & III
Expansion $19 MM/$82 MM
$39 MM May 2008/ Jan 2011
April 2009 116 MMcf/d/ 164 MMcf/d
100 MMcf/d
SNG South System III/
SNG SESH –Phase I SESH Phase II
$137 MM $286 MM/ $33 MM
Jun 2008 2010 - 2012
140 MMcf/d 375 MMcf/d/ 360MMcfd
SNG Gulf LNG
El Paso Pipeline Partners, LP $1.1 Billion
Oct 2011
1.4 Bcf/d
El Paso Pipeline
13
14. Backlog Projects’ In-service Schedule
$ Millions
2008 2009 2010 2011 2012 & Beyond
WIC Kanda Lateral TGP Carthage Elba III & Elba Elba III & Elba
Gulf LNG (50%)
Express -Phase A Express - Phase B
Cheyenne Plains - TGP Concord
SNG South System
Coral Lateral Expansion SNG South System SNG South System
2011
2010 2012
TGP Essex/ CIG Totem
SNG Cypress III
Middlesex Storage (50%) SNG SESH Phase II
CIG High Plains WIC Piceance
(50%) Lateral Expansion
WIC Medicine Bow
SNG Cypress
Phase II
SNG SESH Phase I
$575 $185 $985 $925 $340
Note: $ in each column represents total costs for each project, shown in the year
14
placed in service. (Actual capital spend over multiple years)
15. Large Projects Under Development
Not Included in Backlog
Northeast Passage
• $2.3 billion (100%)
• 1.1 Bcf/d Capacity
• 2011 In-service
• Joint development with Equitable
Ruby Project
• $2 billion (100%)
• 1.2 Bcf/d Capacity
ElbaIsland.wmv
• 2011 In-service
• PA with PGE for 375 MMcf/d
• Joint ownership with PGE
• Also discussions with Bear Energy
FGT Phase VIII Expansion
• $2 billion (100%)
• 0.8 Bcf/d Capacity
• 2011 In-service
• Open season now
Potential $6 billion - $7 billion capex (100%)
― Estimate $3+ billion El Paso’s share 15
16. Pipeline Group Key 2008 Metrics
$ Millions
EBIT before minority interest $1,280–$1,330
Minority interest $(30)
Reported EBIT $1,250–$1,300
Depreciation $400
EBITDA $1,650–$1,700
Adjusted EBITDA* $1,775–$1,825
*Adjusted to reflect proportionate share of Citrus
16
17. Pipeline Group – Raising The Bar
• 2007 EBIT guidance 4% - 6%
• New EBIT guidance* 6% - 8%
• Even higher with success on
large projects
Best pipeline franchise Superior growth & returns
*CAGR 2007 - 2012
17
18. Exploration &
Production
a meaningful company doing meaningful work delivering meaningful results 18
19. E&P Delivered on its 2007 Goals
Results
Goal
800–860 MMcfe/d production1 862 MMcfe/d
$1.68–$2.00/Mcfe cash costs2 $1.88/Mcfe
$1.7 billion capital $1.7 billion (plus $0.9 billion for
Peoples acquisition)
1%–5% reserve growth Meet/exceed high end excluding
Peoples acquisition
1Includesour proportionate share of Four Star Oil and Gas volumes
2Cash costs include direct lifting costs; production taxes, and administration expenses and
other taxes
19
20. E&P Delivered on its 2007 Goals
Results
Goal
Improve organizational capacity Grew staff count by 10%
Exploration success Discoveries at Pinauna & Bia
Egypt concession; office opened
Peoples acquisition completed
High grading portfolio
Asset sales progressing
20
21. Divestiture Update
• Domestic
– 191 Bcfe of Onshore & TGC assets to be sold for $517 MM
– Negotiating sale of GOM properties
– Goal to close divestitures by March 31
• Brazil
– Active sales process for up to 50% non-working interest in
Pinauna
– Decision likely by March 31
21
22. High Grading: What it Means
U.S. Peoples
Asset Sales Acquisition Impact on 2008
Reserves 1/1/2008 ~300 ~300 Reserve neutral
2008 production (MMcfe/d) 85 90 Production improvement
Direct Lifting Costs ($/Mcfe) $1.40 $0.50 $0.05–$0.10/Mcfe
improvement
Other benefits:
• Geographic concentration
• Resource inventory grows by ~450 locations
• Eliminates > $50 MM plug and abandonment liability
22
23. 2008 Key Metrics
Metric Target
870 – 9301
Production (MMcfe/d)
Cash Costs2 ($/Mcfe) $1.75 – $1.90
$1,700 – $1,900
EBITDA ($MM)
$2.80 – $3.20
DD&A ($/Mcfe)
1Includes our proportionate share of Four Star Oil and Gas volumes
2Includes direct lifting costs, production taxes, administrative expenses and other taxes
23
24. $1.7 Billion Capital Program in 2008
2008 Capital by Division
• Increased capital development
for recent acquisitions
– Onshore up 15%
Texas
International
– South Texas up 30% Gulf Coast
21% 25%
• Decreased capital in GOM/SLA
GOM/SLA
– Down 15% 16%
Onshore
38%
• International up 25%
– Pinaúna & Bia developments
– Egypt exploration
Total = $1.7 billion
Note: Percent change excludes acquisitions
24
25. Majority of Capital Program is Low Risk
2008P % of
Gross Wells Drilling
Drilled Capital
High PC < 40%
20–25 14%
High Impact
Exploration
PC 40%–80%
Risk
Med 25–30 17%
Medium Risk Development
and Exploration
PC > 80%
Low
530–545 69%
Low Risk Domestic Development
and Pinauna & Bia Development
575–600
25
26. E&P Profitability
Has Grown Faster Than Peers
EBITDA*/Mcfe, Including Hedging
$6.07 $5.75–
$6.00
$5.83
$5.59
$5.49
$4.82
2006 2008E
2007E
Peer Average El Paso
Peer group: APA, APC, CHK, DVN, EOG, FST, NBL, NFX, PXD, XEC, XTO
Actual results from Peer company reports for 2006 and thru Q3 2007; Credit Suisse 2008E
26
*EBITDA excludes exploration and dry hole expense for successful efforts companies
27. E&P Production
Solid Growth Trajectory Through 2010
MMcfe/d
GR
12% CA
8%–
870–930
862
798
2
2007E 2007E Pro 2008 2009 2010
Forma1
1 Excludes volumes from domestic assets being sold; assumes full year of Peoples
27
2 Assumes 25 MMcfe/d annualized contributed by the divestiture assets prior to closing
28. E&P Summary
• Successfully delivered on 2007 objectives
– Achieved production growth and cost targets
– High grading portfolio to improve overall performance
• Established significant capital program in 2008
– $1.7 billion with majority focused Onshore, low risk programs
– Brazil capital shifts to two high-impact developments
• Improved visibility to long term growth
– Expect 8%–12% CAGR of production long term
– Continued improvement in cost structure
E&P moving towards top-tier performance
28
29. Upcoming Events
• February: Proved reserves and non-proved
resources
• February 26: 4Q earnings - EP and EPB
• April 16: Analyst Meeting – EP and EPB
– New York
29
30. Visible Long-Term Growth
• Significant momentum going into 2008
• Pipelines working to expand $3 billion inventory
• E&P faster growing, more profitable, more focused
post high grading
• Committed to grow El Paso Pipeline Partners
• Visible multi-year growth for both businesses
– Pipelines 6%–8% EBIT growth
– E&P 8%–12% production growth
30
31. a meaningful company
doing meaningful work
delivering meaningful results
2008 Guidance Conference Call
January 24, 2008
33. Disclosure of Non-GAAP
Financial Measures
The SEC’s Regulation G applies to any public disclosure or release of material information that includes a non-GAAP financial measure.
In the event of such a disclosure or release, Regulation G requires (i) the presentation of the most directly comparable financial measure
calculated and presented in accordance with GAAP and (ii) a reconciliation of the differences between the non-GAAP financial measure
presented and the most directly comparable financial measure calculated and presented in accordance with GAAP. The required
presentations and reconciliations are provided herein.
El Paso uses the non-GAAP financial measure “earnings before interest expense and income taxes” or “EBIT” to assess the operating
results and effectiveness of the company and its business segments. The company defines EBIT as net income (loss) adjusted for (i)
items that do not impact its income (loss) from continuing operations, such as extraordinary items, discontinued operations, and the
impact of accounting changes; (ii) income taxes; (iii) interest and debt expense; and (iv) distributions on preferred interests of
consolidated subsidiaries. The company excludes interest and debt expense and distributions on preferred interests of consolidated
subsidiaries so that investors may evaluate the company’s operating results without regard to its financing methods or capital
structure. EBITDA is defined as EBIT plus depreciation, depletion, and amortization. El Paso’s business operations consist of both
consolidated businesses as well as substantial investments in unconsolidated affiliates. As a result, the company believes that EBIT and
EBITDA, which include the results of both these consolidated and unconsolidated operations, is useful to its investors because it allows
them to evaluate more effectively the performance of all of El Paso’s businesses and investments. Per Unit total Cash Expenses, or
Cash Cost (per Mcfe) equal total operating expenses less DD&A and other non-cash charges divided by total consolidated production.
Operating Cash, Cash available for Debt Reduction, and Discretionary Cash are key measures to indicate the on-going potential cash
generating capability of the company. It is an important measure because it adjusts for various items the company does not expect to be
repeated in the future.
El Paso defines Resource Potential as subsurface volumes of oil and natural gas the company believes may be present and eventually
recoverable. The company utilizes a net, geologic risk mean to represent this estimated ultimate recoverable amount.
El Paso believes that the non-GAAP financial measures described above are also useful to investors because these measurements are
used by many companies in the industry as a measurement of operating and financial performance and are commonly employed by
financial analysts and others to evaluate the operating and financial performance of the company and its business segments and to
compare the operating and financial performance of the company and its business segments with the performance of other companies
within the industry.
These non-GAAP financial measures may not be comparable to similarly titled measurements used by other companies and should not
be used as a substitute for net income, earnings per share or other GAAP measurements.
33
34. EBIT/EBITDA Summary
$ Millions
2008
EBIT EBITDA
Pipelines $1,250–$1,300 $1,650–$1,700
Exploration & Production 755–1,020 1,700–1,900
Corp. & Other (35) (20)
Adjusted pipeline EBITDA: $1,775 - $1,825*
34
*Adjusted for 50% interest of Citrus EBITDA