TRC Solutions reported on its Q4 2016 financial results. Key highlights include:
- Net service revenue increased 16% year-over-year to $132.3 million.
- EBITDA increased 15% year-over-year to $14.8 million, a new quarterly record.
- Net income decreased 13% to $5.9 million due to increased amortization and interest expenses.
- Cash flow from operations was $17.7 million and days sales outstanding improved.
The document provides an overview of TRC Solutions' Q3 2016 financial results. Key points include:
1) Net service revenue increased 20% year-over-year to $121.3 million, with growth in infrastructure and declines in energy and environmental.
2) Adjusted EBITDA was $7.9 million, excluding one-time acquisition and integration costs and a goodwill impairment.
3) A goodwill impairment charge of $24.5 million was recorded for the pipeline services segment due to challenges in the oil and gas market.
4) The company continues focusing on organic growth opportunities in strategic markets like utilities and transportation infrastructure.
The document provides an overview of TRC Solutions' Q2 fiscal year 2016 financial results. Some key points:
- Net service revenue increased 12% year-over-year to $111.4 million, with growth in energy and infrastructure segments offsetting a decline in environmental.
- Adjusted operating income grew 16% to $7.9 million due to organic and acquisition growth.
- Organic backlog increased 23% to $313 million, with strong growth in infrastructure offsetting declines in energy and environmental.
- Integration of the Willbros acquisition is proceeding on track, with the pipeline services division now functionally integrated within TRC.
This document provides an overview and financial highlights of TRC Companies Inc.'s performance in the first quarter of fiscal year 2016. Some key points:
- Net service revenue increased 8% year-over-year to $100.2 million, with growth across all segments.
- Operating income increased 28% to $7.7 million and EBITDA increased 20% to $9.9 million.
- Net income increased 29% to $4.5 million and backlog increased 23% to $319 million.
- The environmental segment saw 11% revenue growth, while the energy and infrastructure segments grew revenues by 5% and 9% respectively.
- Segment profits increased in energy and
TRC reported financial results for Q2 FY2014, with net service revenue increasing 21% year-over-year to $91.1 million. EBITDA grew 24% to $7.4 million, while operating income rose 18% to $5.2 million. The company's backlog increased 4% to $233.9 million. TRC's diversified business model saw growth across all three segments - Environmental, Energy, and Infrastructure. The company will continue pursuing both organic growth opportunities and strategic acquisitions to expand its service offerings and geographic footprint.
The document provides an overview of forward-looking statements and assumptions regarding Antero Midstream Partners LP and Antero Resources Corporation. It notes that statements in the presentation regarding future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts are forward-looking statements. It cautions readers that these statements are subject to risks and uncertainties that could cause actual future results to differ materially from expected results. The document also states that Antero Resources' ability to make future distributions is substantially dependent on Antero Resources' annual capital budget and development plan, which depends on commodity prices and Antero Resources' financial resources and liquidity.
Southern Company reported its financial results for the fourth quarter and full year of 2008. For the full year, earnings were $1.74 billion compared to $1.73 billion in 2007. Kilowatt-hour sales to retail customers decreased 2.1% for the year. Revenues increased 11.6% for the full year to $17.13 billion due to higher retail rates and environmental cost recovery, but earnings were impacted by mild weather, a weak economy, and higher expenses. Looking ahead, economic challenges are expected to continue through 2009 but the long-term viability of the Southeast region remains strong.
SCE provided a business update for November 2016. The document discusses SCE's strategy to produce shareholder value through sustained earnings and dividend growth led by increasing SCE's rate base. SCE plans to invest $23 billion in capital projects from 2016-2020, including $2.3 billion for grid modernization. This capital investment is expected to drive SCE's average annual rate base growth of 8.5% over the period. Regulatory filings like the 2018 GRC seek approval for these planned expenditures and revenue requirements.
Lkq corporations first quarter 2018 earnings call presentationcorporationlkq
- LKQ reported revenue of $2.721 billion for Q1 2018, up 16.1% from Q1 2017, with organic revenue growth of 3.7% for parts and services. Net income was $153 million.
- Segment EBITDA was $295 million for Q1 2018, up 1.7% from Q1 2017. Diluted EPS was $0.49 per share, up 8.9% from Q1 2017.
- Revenue growth was driven by acquisitions in Europe and organic growth in North America. Margins declined due to mix shift to Europe and higher costs.
The document provides an overview of TRC Solutions' Q3 2016 financial results. Key points include:
1) Net service revenue increased 20% year-over-year to $121.3 million, with growth in infrastructure and declines in energy and environmental.
2) Adjusted EBITDA was $7.9 million, excluding one-time acquisition and integration costs and a goodwill impairment.
3) A goodwill impairment charge of $24.5 million was recorded for the pipeline services segment due to challenges in the oil and gas market.
4) The company continues focusing on organic growth opportunities in strategic markets like utilities and transportation infrastructure.
The document provides an overview of TRC Solutions' Q2 fiscal year 2016 financial results. Some key points:
- Net service revenue increased 12% year-over-year to $111.4 million, with growth in energy and infrastructure segments offsetting a decline in environmental.
- Adjusted operating income grew 16% to $7.9 million due to organic and acquisition growth.
- Organic backlog increased 23% to $313 million, with strong growth in infrastructure offsetting declines in energy and environmental.
- Integration of the Willbros acquisition is proceeding on track, with the pipeline services division now functionally integrated within TRC.
This document provides an overview and financial highlights of TRC Companies Inc.'s performance in the first quarter of fiscal year 2016. Some key points:
- Net service revenue increased 8% year-over-year to $100.2 million, with growth across all segments.
- Operating income increased 28% to $7.7 million and EBITDA increased 20% to $9.9 million.
- Net income increased 29% to $4.5 million and backlog increased 23% to $319 million.
- The environmental segment saw 11% revenue growth, while the energy and infrastructure segments grew revenues by 5% and 9% respectively.
- Segment profits increased in energy and
TRC reported financial results for Q2 FY2014, with net service revenue increasing 21% year-over-year to $91.1 million. EBITDA grew 24% to $7.4 million, while operating income rose 18% to $5.2 million. The company's backlog increased 4% to $233.9 million. TRC's diversified business model saw growth across all three segments - Environmental, Energy, and Infrastructure. The company will continue pursuing both organic growth opportunities and strategic acquisitions to expand its service offerings and geographic footprint.
The document provides an overview of forward-looking statements and assumptions regarding Antero Midstream Partners LP and Antero Resources Corporation. It notes that statements in the presentation regarding future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts are forward-looking statements. It cautions readers that these statements are subject to risks and uncertainties that could cause actual future results to differ materially from expected results. The document also states that Antero Resources' ability to make future distributions is substantially dependent on Antero Resources' annual capital budget and development plan, which depends on commodity prices and Antero Resources' financial resources and liquidity.
Southern Company reported its financial results for the fourth quarter and full year of 2008. For the full year, earnings were $1.74 billion compared to $1.73 billion in 2007. Kilowatt-hour sales to retail customers decreased 2.1% for the year. Revenues increased 11.6% for the full year to $17.13 billion due to higher retail rates and environmental cost recovery, but earnings were impacted by mild weather, a weak economy, and higher expenses. Looking ahead, economic challenges are expected to continue through 2009 but the long-term viability of the Southeast region remains strong.
SCE provided a business update for November 2016. The document discusses SCE's strategy to produce shareholder value through sustained earnings and dividend growth led by increasing SCE's rate base. SCE plans to invest $23 billion in capital projects from 2016-2020, including $2.3 billion for grid modernization. This capital investment is expected to drive SCE's average annual rate base growth of 8.5% over the period. Regulatory filings like the 2018 GRC seek approval for these planned expenditures and revenue requirements.
Lkq corporations first quarter 2018 earnings call presentationcorporationlkq
- LKQ reported revenue of $2.721 billion for Q1 2018, up 16.1% from Q1 2017, with organic revenue growth of 3.7% for parts and services. Net income was $153 million.
- Segment EBITDA was $295 million for Q1 2018, up 1.7% from Q1 2017. Diluted EPS was $0.49 per share, up 8.9% from Q1 2017.
- Revenue growth was driven by acquisitions in Europe and organic growth in North America. Margins declined due to mix shift to Europe and higher costs.
Southern Company reported third quarter 2004 earnings of $644.5 million, meeting expectations. Earnings for the first nine months of 2004 were $1.33 billion, compared to $1.27 billion in the same period in 2003 excluding a one-time gain. Mild weather and increased industrial sales offset some of the financial impact of Hurricane Ivan, which left 1.6 million customers without power but was restored within a week for 94% of customers. Southern Company served about 70,000 more customers as of September 30 than the previous year and expects continued long-term customer growth of 1.5% annually. Capital expenditures are projected to be $7 billion from 2004 to 2006 focused on regulated infrastructure including environmental and transmission/distribution
This document provides an overview of Antero Midstream Partners LP and contains forward-looking statements regarding future plans and expectations. It discusses key assumptions, risks, and uncertainties that could cause actual results to differ from projections. Specifically, the document notes that Antero Midstream's ability to make future distributions is dependent on Antero Resources' annual capital budget and development plan, which is dependent on commodity prices and Antero Resources' financial resources and liquidity. Any forward-looking statements speak only as of the date of the document and the company undertakes no obligation to update such statements.
The document is a transcript from Advanced Emissions Solutions, Inc.'s fourth quarter and full year 2017 results call held on March 13, 2018. The summary is:
In the call, ADEs discussed returning $32.1 million to shareholders in 2017 through a tender offer, share repurchase, and dividends. They also discussed distributions from their refined coal business totaling $16.5 million in Q4 2017 and $53.5 million for the full year, compared to $46.2 million in 2016. Looking ahead, they reaffirmed expected net cash flows from their refined coal business of between $275-300 million through the end of 2021.
This document provides an overview and summary of TRR's Q4 Fiscal 2015 results. It discusses growth in key financial metrics such as net service revenue, operating income, and EBITDA compared to the same period last year. It also summarizes performance and backlog across the company's environmental, energy, and infrastructure segments. The document outlines the company's growth strategy, which includes organic growth initiatives and strategic acquisitions. It also discusses key markets and initiatives that will drive future performance. Financial results for Q4 and FY 2015 are presented, including income statements, balance sheets, cash flows, and definitions of non-GAAP metrics referenced.
1) Burlington Northern Santa Fe Corporation reported earnings of $0.40 per share for the first quarter of 2003, before a cumulative effect adjustment of $0.10 per share for a change in accounting principle.
2) Freight revenues increased 3% to $2.2 billion compared to the first quarter of 2002, while operating expenses rose $103 million to $1.89 billion due to a $90 million increase in fuel costs.
3) Operating income was $346 million for the quarter, down from $380 million in the prior year due to higher fuel costs, and the operating ratio rose to 84.3% from 82.2% in 2002.
Southern Company reported second quarter earnings of $385.2 million, or 52 cents per share, driven by increased electricity usage from warm weather and customer growth. Total revenues for the quarter increased 15.1% year-over-year to $3.59 billion. However, earnings were partially offset by higher operations and maintenance expenses and the negative impact of rising oil prices on Southern Company's synthetic fuels investments. Looking forward, Southern Company expects earnings per share growth of 5% annually and has set a goal of earning at least $300 million annually from its competitive wholesale generation business by 2007.
SCANA Corporation reported consolidated earnings of $114 million for the first quarter of 2009, comparable to earnings of $109 million in the first quarter of 2008. Earnings were positively impacted by lower operating and maintenance expenses and favorable weather, offsetting factors such as lower natural gas margins. By business line, South Carolina Electric & Gas earned $62 million, PSNC Energy earned $30 million, and SCANA Energy earned $22 million. The company affirmed its guidance for 2009 earnings between $2.65 to $2.95 per share.
The document provides an overview of forward-looking statements and assumptions for Antero Midstream Partners LP. It notes that future plans are dependent on Antero Resources' annual capital budget approval and factors like commodity prices and liquidity. Any forward-looking statements may prove inaccurate due to risks including commodity price volatility and regulatory changes. The ability to make future distributions is substantially dependent on Antero Resources' development plan which itself depends on its board's annual review of the capital budget.
- CTEEP is a Brazilian power transmission company that is part of ISA, one of the largest transmission groups in Latin America. It operates power lines and substations in the state of São Paulo.
- In 3Q13, CTEEP reported a net loss of R$245 million due to a R$516 million provision related to amounts receivable from the São Paulo tax authority (SEFAZ-SP). Excluding this provision, net income was R$95 million.
- Total debt as of 3Q13 was R$1.9 billion, with 70% considered short-term debt. Cash positions totaled R$1.2 billion, resulting in net debt of R$672 million
- Teekay Corporation presented its Q3 2020 earnings results, which showed improved financial performance over Q3 2019. Total adjusted EBITDA increased to $227 million from $193 million, while consolidated adjusted net income was $15 million compared to a loss of $24 million in Q3 2019.
- The presentation highlighted that Teekay has significantly strengthened its financial position over the past year, reducing consolidated net debt by $941 million. Total consolidated liquidity was also increased to over $1 billion.
- Looking ahead, Teekay expects to further reduce costs associated with the decommissioning of the Banff oil field and sees opportunities to create long-term shareholder value from its interests in Teekay
The document provides an overview of AES Corporation's Q3 2016 financial results and business outlook. Some key points:
- Q3 2016 adjusted EPS decreased year-over-year due to foreign exchange impacts and restructuring costs in Chile, though results were in line with expectations.
- The US business saw improved margins from rate cases and plant upgrades. The Andes region saw lower fuel costs but impacts from currency devaluation.
- AES has $3.4 billion of construction projects under way through 2019 across multiple countries.
- At Dayton Power & Light, AES is seeking a distribution rider through regulatory filings to support investment and credit ratings.
Southern Company reported solid earnings for the third quarter of 2005. Net income was $722.2 million, up from $644.5 million in the third quarter of 2004, driven by unseasonably warm weather and continued economic strength in the Southeast which led to greater electricity usage. For the first nine months of the year, earnings were $1.43 billion compared to $1.33 billion in the same period of 2004. Mississippi Power and Alabama Power were impacted by Hurricane Katrina in the third quarter but had restored power to all customers within 12 days. Southern Company reaffirmed its 2005 EPS guidance range of $2.04 to $2.09.
CONSOL Energy & Noble Energy Marcellus Shale Joint Venture SeparationMarcellus Drilling News
Presentation used during a conference call to announced that CONSOL Energy and Noble Energy's 669,000-acre joint venture in the Marcellus Shale is ending. CONSOL will retain rights to 306,000 acres (mostly in Pennsylvania) and Noble rights to 363,000 acres (mostly in West Virginia). The separation will allow CONSOL to do more Utica drilling. Noble plans to do less drilling, for now, in the Marcellus.
The slide deck used by Cabot CEO Dan Dinges during his quarterly phone call with analysts. Of particular interest is slide #9 which shows Cabot believes 2018 is an "inflection year" for the company, with six important infrastructure projects due to go online.
The document provides an overview of AES Corporation's fourth quarter and full year 2016 financial results. Some key points:
- AES delivered on its 2016 guidance and made progress reducing costs and exiting non-core assets.
- It expects to complete $3.4 billion worth of power projects under construction by 2019.
- AES aims to achieve $350 million in annual cost savings by 2018 and an additional $50 million by 2020 through its Performance Excellence program.
- For 2017, AES expects to deliver 8-10% average annual growth in free cash flow, adjusted EPS, and shareholder dividends through 2020.
The document summarizes EnLink's operations report for August 2016. Key points include:
- EnLink revised 2016 guidance, increased adjusted EBITDA to $750-800 million.
- Q2 2016 results showed adjusted EBITDA of $187.4 million and cash available for distribution of $49.8 million.
- EnLink continues focus on core strategies of maximizing cash flows, executing growth projects, and providing best-in-basin service.
The slide deck used during the quarterly earnings call for MPLX, owner of MarkWest Energy. Of particular interest are slides 4, 6 and 8 highlighting the Marcellus/Utica region.
Bernard Looney, Chief Executive Officer of bp, provides a recap of bp's new strategy and financial frame that was introduced on August 4th. The strategy focuses on three areas: low carbon electricity and energy, convenience and mobility, and resilient and focused hydrocarbons. It is underpinned by partnering with others, integrating energy systems, and driving digital innovation. The financial frame aims to support the energy transition with capital allocation priorities, a resilient balance sheet, and disciplined investment process. The goals are to deleverage to $35 billion net debt, maintain a strong credit rating, and allocate over 20% of capital to the energy transition by 2025.
Southern Company reported second quarter earnings of $432 million, or $0.60 per share, compared to $332 million, or $0.47 per share in the second quarter of 2002. Results included an after-tax gain of $88 million from terminating wholesale power contracts with Dynegy. Earnings for the first six months of 2003 were $730 million compared to $556 million in the same period in 2002. Customer growth was 1.6% higher than the prior year. Mild weather reduced retail electricity demand but boosted wholesale sales. Southern Company remains on track to meet financial and operational targets for the year.
Variable-Rate State Gas Tax Report (updated Sept. 2016)ARTBATIAC
This document provides information on variable-rate state gas taxes in 18 states and DC. It describes how some states determine gas taxes as a percentage of the wholesale gas price, while others index it to inflation measures like CPI. The summary outlines the categories of variable-rate gas taxes, and highlights examples like California, Florida, and Maryland.
1) TRC reported financial results for Q1 FY2017 with revenue increasing 24% year-over-year to $124.3 million and net income decreasing 19% to $3.6 million.
2) The infrastructure segment saw the largest revenue growth of 23% driven by increased public-private partnership and state/local government activity.
3) While revenue grew across most segments, profit declined for environmental and oil & gas due to challenging market conditions in those industries.
The document is an investor presentation by TRC Companies, Inc. for Q2 Fiscal 2017. It provides the following key information:
1) Net service revenue increased 14% year-over-year to $127.4 million. Infrastructure revenue grew 7% while Environmental declined 2% and Oil & Gas was flat.
2) Net income increased 2% to $4 million. Strong performance in Infrastructure offset increased amortization expenses.
3) EBITDA grew 20% to $11.4 million and adjusted EBITDA increased 6% reflecting continued profitable growth.
4) The company refinanced its credit facility with an all-revolver $250 million structure to support working capital
Southern Company reported third quarter 2004 earnings of $644.5 million, meeting expectations. Earnings for the first nine months of 2004 were $1.33 billion, compared to $1.27 billion in the same period in 2003 excluding a one-time gain. Mild weather and increased industrial sales offset some of the financial impact of Hurricane Ivan, which left 1.6 million customers without power but was restored within a week for 94% of customers. Southern Company served about 70,000 more customers as of September 30 than the previous year and expects continued long-term customer growth of 1.5% annually. Capital expenditures are projected to be $7 billion from 2004 to 2006 focused on regulated infrastructure including environmental and transmission/distribution
This document provides an overview of Antero Midstream Partners LP and contains forward-looking statements regarding future plans and expectations. It discusses key assumptions, risks, and uncertainties that could cause actual results to differ from projections. Specifically, the document notes that Antero Midstream's ability to make future distributions is dependent on Antero Resources' annual capital budget and development plan, which is dependent on commodity prices and Antero Resources' financial resources and liquidity. Any forward-looking statements speak only as of the date of the document and the company undertakes no obligation to update such statements.
The document is a transcript from Advanced Emissions Solutions, Inc.'s fourth quarter and full year 2017 results call held on March 13, 2018. The summary is:
In the call, ADEs discussed returning $32.1 million to shareholders in 2017 through a tender offer, share repurchase, and dividends. They also discussed distributions from their refined coal business totaling $16.5 million in Q4 2017 and $53.5 million for the full year, compared to $46.2 million in 2016. Looking ahead, they reaffirmed expected net cash flows from their refined coal business of between $275-300 million through the end of 2021.
This document provides an overview and summary of TRR's Q4 Fiscal 2015 results. It discusses growth in key financial metrics such as net service revenue, operating income, and EBITDA compared to the same period last year. It also summarizes performance and backlog across the company's environmental, energy, and infrastructure segments. The document outlines the company's growth strategy, which includes organic growth initiatives and strategic acquisitions. It also discusses key markets and initiatives that will drive future performance. Financial results for Q4 and FY 2015 are presented, including income statements, balance sheets, cash flows, and definitions of non-GAAP metrics referenced.
1) Burlington Northern Santa Fe Corporation reported earnings of $0.40 per share for the first quarter of 2003, before a cumulative effect adjustment of $0.10 per share for a change in accounting principle.
2) Freight revenues increased 3% to $2.2 billion compared to the first quarter of 2002, while operating expenses rose $103 million to $1.89 billion due to a $90 million increase in fuel costs.
3) Operating income was $346 million for the quarter, down from $380 million in the prior year due to higher fuel costs, and the operating ratio rose to 84.3% from 82.2% in 2002.
Southern Company reported second quarter earnings of $385.2 million, or 52 cents per share, driven by increased electricity usage from warm weather and customer growth. Total revenues for the quarter increased 15.1% year-over-year to $3.59 billion. However, earnings were partially offset by higher operations and maintenance expenses and the negative impact of rising oil prices on Southern Company's synthetic fuels investments. Looking forward, Southern Company expects earnings per share growth of 5% annually and has set a goal of earning at least $300 million annually from its competitive wholesale generation business by 2007.
SCANA Corporation reported consolidated earnings of $114 million for the first quarter of 2009, comparable to earnings of $109 million in the first quarter of 2008. Earnings were positively impacted by lower operating and maintenance expenses and favorable weather, offsetting factors such as lower natural gas margins. By business line, South Carolina Electric & Gas earned $62 million, PSNC Energy earned $30 million, and SCANA Energy earned $22 million. The company affirmed its guidance for 2009 earnings between $2.65 to $2.95 per share.
The document provides an overview of forward-looking statements and assumptions for Antero Midstream Partners LP. It notes that future plans are dependent on Antero Resources' annual capital budget approval and factors like commodity prices and liquidity. Any forward-looking statements may prove inaccurate due to risks including commodity price volatility and regulatory changes. The ability to make future distributions is substantially dependent on Antero Resources' development plan which itself depends on its board's annual review of the capital budget.
- CTEEP is a Brazilian power transmission company that is part of ISA, one of the largest transmission groups in Latin America. It operates power lines and substations in the state of São Paulo.
- In 3Q13, CTEEP reported a net loss of R$245 million due to a R$516 million provision related to amounts receivable from the São Paulo tax authority (SEFAZ-SP). Excluding this provision, net income was R$95 million.
- Total debt as of 3Q13 was R$1.9 billion, with 70% considered short-term debt. Cash positions totaled R$1.2 billion, resulting in net debt of R$672 million
- Teekay Corporation presented its Q3 2020 earnings results, which showed improved financial performance over Q3 2019. Total adjusted EBITDA increased to $227 million from $193 million, while consolidated adjusted net income was $15 million compared to a loss of $24 million in Q3 2019.
- The presentation highlighted that Teekay has significantly strengthened its financial position over the past year, reducing consolidated net debt by $941 million. Total consolidated liquidity was also increased to over $1 billion.
- Looking ahead, Teekay expects to further reduce costs associated with the decommissioning of the Banff oil field and sees opportunities to create long-term shareholder value from its interests in Teekay
The document provides an overview of AES Corporation's Q3 2016 financial results and business outlook. Some key points:
- Q3 2016 adjusted EPS decreased year-over-year due to foreign exchange impacts and restructuring costs in Chile, though results were in line with expectations.
- The US business saw improved margins from rate cases and plant upgrades. The Andes region saw lower fuel costs but impacts from currency devaluation.
- AES has $3.4 billion of construction projects under way through 2019 across multiple countries.
- At Dayton Power & Light, AES is seeking a distribution rider through regulatory filings to support investment and credit ratings.
Southern Company reported solid earnings for the third quarter of 2005. Net income was $722.2 million, up from $644.5 million in the third quarter of 2004, driven by unseasonably warm weather and continued economic strength in the Southeast which led to greater electricity usage. For the first nine months of the year, earnings were $1.43 billion compared to $1.33 billion in the same period of 2004. Mississippi Power and Alabama Power were impacted by Hurricane Katrina in the third quarter but had restored power to all customers within 12 days. Southern Company reaffirmed its 2005 EPS guidance range of $2.04 to $2.09.
CONSOL Energy & Noble Energy Marcellus Shale Joint Venture SeparationMarcellus Drilling News
Presentation used during a conference call to announced that CONSOL Energy and Noble Energy's 669,000-acre joint venture in the Marcellus Shale is ending. CONSOL will retain rights to 306,000 acres (mostly in Pennsylvania) and Noble rights to 363,000 acres (mostly in West Virginia). The separation will allow CONSOL to do more Utica drilling. Noble plans to do less drilling, for now, in the Marcellus.
The slide deck used by Cabot CEO Dan Dinges during his quarterly phone call with analysts. Of particular interest is slide #9 which shows Cabot believes 2018 is an "inflection year" for the company, with six important infrastructure projects due to go online.
The document provides an overview of AES Corporation's fourth quarter and full year 2016 financial results. Some key points:
- AES delivered on its 2016 guidance and made progress reducing costs and exiting non-core assets.
- It expects to complete $3.4 billion worth of power projects under construction by 2019.
- AES aims to achieve $350 million in annual cost savings by 2018 and an additional $50 million by 2020 through its Performance Excellence program.
- For 2017, AES expects to deliver 8-10% average annual growth in free cash flow, adjusted EPS, and shareholder dividends through 2020.
The document summarizes EnLink's operations report for August 2016. Key points include:
- EnLink revised 2016 guidance, increased adjusted EBITDA to $750-800 million.
- Q2 2016 results showed adjusted EBITDA of $187.4 million and cash available for distribution of $49.8 million.
- EnLink continues focus on core strategies of maximizing cash flows, executing growth projects, and providing best-in-basin service.
The slide deck used during the quarterly earnings call for MPLX, owner of MarkWest Energy. Of particular interest are slides 4, 6 and 8 highlighting the Marcellus/Utica region.
Bernard Looney, Chief Executive Officer of bp, provides a recap of bp's new strategy and financial frame that was introduced on August 4th. The strategy focuses on three areas: low carbon electricity and energy, convenience and mobility, and resilient and focused hydrocarbons. It is underpinned by partnering with others, integrating energy systems, and driving digital innovation. The financial frame aims to support the energy transition with capital allocation priorities, a resilient balance sheet, and disciplined investment process. The goals are to deleverage to $35 billion net debt, maintain a strong credit rating, and allocate over 20% of capital to the energy transition by 2025.
Southern Company reported second quarter earnings of $432 million, or $0.60 per share, compared to $332 million, or $0.47 per share in the second quarter of 2002. Results included an after-tax gain of $88 million from terminating wholesale power contracts with Dynegy. Earnings for the first six months of 2003 were $730 million compared to $556 million in the same period in 2002. Customer growth was 1.6% higher than the prior year. Mild weather reduced retail electricity demand but boosted wholesale sales. Southern Company remains on track to meet financial and operational targets for the year.
Variable-Rate State Gas Tax Report (updated Sept. 2016)ARTBATIAC
This document provides information on variable-rate state gas taxes in 18 states and DC. It describes how some states determine gas taxes as a percentage of the wholesale gas price, while others index it to inflation measures like CPI. The summary outlines the categories of variable-rate gas taxes, and highlights examples like California, Florida, and Maryland.
1) TRC reported financial results for Q1 FY2017 with revenue increasing 24% year-over-year to $124.3 million and net income decreasing 19% to $3.6 million.
2) The infrastructure segment saw the largest revenue growth of 23% driven by increased public-private partnership and state/local government activity.
3) While revenue grew across most segments, profit declined for environmental and oil & gas due to challenging market conditions in those industries.
The document is an investor presentation by TRC Companies, Inc. for Q2 Fiscal 2017. It provides the following key information:
1) Net service revenue increased 14% year-over-year to $127.4 million. Infrastructure revenue grew 7% while Environmental declined 2% and Oil & Gas was flat.
2) Net income increased 2% to $4 million. Strong performance in Infrastructure offset increased amortization expenses.
3) EBITDA grew 20% to $11.4 million and adjusted EBITDA increased 6% reflecting continued profitable growth.
4) The company refinanced its credit facility with an all-revolver $250 million structure to support working capital
Polaris Industries provides a corporate overview and financial results for 2015. Key points include:
- 2015 sales grew 5% to $4.719 billion despite tough economic conditions.
- Market share grew in all business segments. International sales declined 5% excluding currency effects.
- Net income was flat at $455 million while earnings per share grew 2% to $6.75.
- Guidance for 2016 anticipates softer ORV/Snowmobile sales but continued motorcycle growth. Focus is on reducing costs, improving quality and regaining momentum in the powersports industry.
Polaris reported third quarter 2016 earnings results that were in line with pre-release expectations. Sales finished down year-over-year due to weak industry conditions and the impact of product recalls. Net income was also down significantly compared to the prior year. Looking ahead, Polaris narrowed its full-year 2016 guidance and expects ongoing challenges in the powersports industry but believes execution continues to improve across key areas of the business.
This document provides an overview of ARC Document Solutions, a document solutions company focused on the architectural, engineering and construction (AEC) industries. It summarizes ARC's three main solutions: CDIM for construction document management, MPS for managed print services, and AIM for archive and information management. The document discusses how the solutions work and their benefits. It also provides financial information on revenue, gross margins, EBITDA and cash flows for ARC, and highlights recent quarterly performance and full year 2015 guidance metrics.
Myers Industries presented its investor presentation, which included forward-looking statements noting actual results could differ from expectations. It summarized risks to its business, including changes in markets, customer relationships, competition, costs, weather, economic conditions, capital requirements, litigation, and laws. Myers encourages investors to review detailed risk factors in its SEC filings. The presentation outlined Myers' business transformation, goals to increase sales and profits through organic growth and M&A, and balanced capital allocation including returning cash to shareholders.
Polaris to Acquire Transamerican Auto Parts Presentationinvestorpolaris
Polaris Industries Inc. is acquiring Transamerican Auto Parts Company (TAP) for $665 million. TAP is a market leader in the $10+ billion North American Jeep and truck aftermarket accessories space, with $740 million in annual sales. The acquisition is expected to close in late Q4 2016. TAP will continue operating as a distinct business within a new Aftermarket Segment at Polaris. The acquisition is expected to be accretive to Polaris' earnings per share in 2017, excluding one-time costs, and will provide synergies, cross-selling opportunities, and entry into the large and growing Jeep and truck aftermarket industry.
Polaris reported second quarter 2016 earnings results on July 20, 2016. Sales and net income were slightly better than revised expectations. Results included approximately $25 million in additional costs related to warranty, legal and other recall expenses. Gross profit margin decreased 325 basis points due to currency effects, product mix and higher warranty costs. Cash flow was up 287% year-to-date. The company revised full-year 2016 guidance to reflect weaker market conditions and increased warranty costs.
Polaris announced it will cease production of Victory Motorcycles effective immediately. Victory began production in 1998 but sales have steadily declined in recent years, representing only 3% of Polaris' total sales in 2015. While Victory outperformed the market in retail growth in 2016, the company has lost money on Victory in 3 of the past 5 years. Polaris will now focus on the Indian Motorcycle brand which has higher growth potential and more profitable economics. The wind down of Victory operations will result in one-time costs for Polaris in 2017.
ARC Document Solutions provides document management services to design and construction firms. It has transitioned from primarily print-based services to utilizing cloud and mobile technologies. ARC has over 200 technology professionals developing solutions for the construction industry and has invested over $100 million in research and development. Its clients include thousands of construction, engineering, and design firms. ARC's services include construction document management, managed print services, and archive and information management.
The document is Myers Industries' fourth quarter and full year 2015 earnings presentation. It summarizes key financial results including a 9% decline in Q4 net sales and flat full year net sales on a constant currency basis. Adjusted gross margin increased 350 basis points to 29.9% for the full year. It also provides an outlook for 2016 with served markets expected to be flat to down low single digits and initiatives focused on margin growth and SG&A reductions.
The document provides an investor presentation for Myers Industries, Inc. It begins with a safe harbor statement noting that any forward-looking statements are based on current expectations that may be incorrect. It then discusses the new CEO's strategy review, focusing on improving cash flow, implementing process improvements, and assessing capital deployment options. The presentation also covers the company's corporate governance best practices, performance-driven executive compensation program, and actions taken to further ensure effective internal controls over financial reporting.
Mye q2 2016 earnings conference call presentation finalMyers_Investors
- Sales were down 11% to $144.1 million due to a difficult capital spending environment and soft consumer sales. Margins were flat at 30.9% due to lower input costs and favorable product mix.
- Net income was $5.7 million compared to $10.9 million last year. Adjusted EPS was $0.21 compared to $0.30.
- The outlook for 2016 was lowered with revenue expected to be down mid-to-high single digits due to continued soft capital spending. Strategic initiatives are focusing on commercial execution and protecting the core business.
- Myers Industries reported net sales of $151.2 million in Q1 2016, a decrease of 3.3% from the prior year due to organic sales decline of 1.3% and unfavorable currency impact of 2%.
- Gross margin increased 260 basis points to 31.9% due to lower input costs, operational improvements, and product line rationalization.
- Adjusted EPS from continuing operations increased 75% to $0.21 due to gross margin expansion partially offset by higher capital spending.
- Several large one-time charges were recorded in Q1 including $8.5 million in non-cash impairment charges in Brazil and $2 million in CFO severance costs.
Q3 2016 Myers Industries Inc. Earnings Presentation FinalMyers_Investors
Myers Industries, Inc. held a third quarter earnings presentation on November 8, 2016 to discuss financial results and outlook. Key points included:
- Third quarter sales were in line with expectations but down 6% year-over-year due to continued weakness in capital spending.
- Gross margin declined 230 basis points due to lower volume, unfavorable product mix and operational inefficiencies.
- SG&A expenses declined due to lower non-recurring compensation and cost containment actions.
- Adjusted EPS from continuing operations was $0.04, down from $0.09 in the prior year third quarter.
- For 2016, the company expects revenue to be down mid-to-high single digits
This document provides an overview of ARC Document Solutions, a document solutions company focused on the architectural, engineering and construction (AEC) industries. It summarizes ARC's three main document solutions - Construction Document and Information Management (CDIM), Managed Print Services (MPS), and Archive and Information Management (AIM). CDIM, MPS, and AIM are cloud-based platforms that help reduce costs and improve efficiency for AEC customers by reducing paper usage and providing digital/mobile access to documents. The document highlights ARC's growth strategy of focusing on recurring revenue streams, margin expansion, and deleveraging debt through 2020.
The document provides an earnings presentation for Myers Industries for the fourth quarter and full year 2016. It discusses key financial results including a 7.2% decline in net sales and lower operating income. The presentation outlines challenges in 2016 from weak capital spending and lower agriculture sales, and strategic initiatives for 2017 focusing on niche market growth, flexible operations, and strong cash flow. Long term financial targets through 2020 are provided targeting increased operating margins, free cash flow, and leverage ratio reduction.
Polaris Q4 & Full Year 2016 Earnings Presentationinvestorpolaris
- Polaris reported Q4 and full year 2016 earnings results that were in-line with expectations. Q4 sales were flat excluding the acquisition of Transamerican Auto Parts (TAP).
- For full year 2016, adjusted net income was down 48% due to soft market conditions, increased promotional spending, currency fluctuations, and $120M in recall-related costs.
- Polaris will exit the Victory motorcycle brand in 2017 to focus investment in Indian and Slingshot brands. The acquisition of TAP is expected to be accretive to 2017 earnings.
- Guidance for 2017 expects organic revenue to be flat to up 1% with adjusted EPS growth of 4-13% driven by TAP synerg
This document provides an overview and summary of TRR's Q3 Fiscal 2014 results. Some key points:
1) Net service revenue increased 6% year-over-year to $88.1 million, with increases in Energy (+19%) and decreases in Infrastructure (-10%).
2) Operating income decreased 26% to $2.5 million and EBITDA decreased 10% to $4.7 million due to increased medical expenses and weather impacts.
3) Net service revenue backlog increased 5% sequentially to $245.1 million, with increases in Energy (+13%) and decreases in Infrastructure (-1%).
4) The CEO highlights attractive long-term growth opportunities across segments but also
- TRR reported an 8% increase in net service revenue to $81.3M for Q1 2014 compared to Q1 2013, driven by growth across all three business segments. However, operating income decreased 8% to $4.3M due to a change in estimate for an insurance recovery.
- Backlog increased slightly to $239M, and the company aims to grow organically and through acquisitions focused on utility/power, oil & gas, and infrastructure markets.
- The outlook is solid for energy and environmental markets long-term due to aging infrastructure needing upgrades, new regulations, and increased capital spending. Infrastructure markets are also improving with more state funding.
This document provides an overview and summary of TRC Companies' Q3 Fiscal 2015 financial results. Some key points:
- Net service revenue increased 15% year-over-year to $101 million.
- Operating income increased 185% year-over-year to $7.1 million.
- EBITDA increased 100% year-over-year to $9.4 million.
- Net income increased 261% year-over-year to $5.2 million.
- The company is focusing on organic growth opportunities and strategic acquisitions to expand in key markets like oil & gas, utilities, and transportation.
- The document is an investor presentation for TRC discussing financial highlights from Q1 2015 including revenue growth, backlog, cash flow and strategic growth initiatives.
- TRC's business model is diversified across environmental, energy and infrastructure segments serving public/private clients.
- Key growth strategies include investing in high-margin organic opportunities and strategic acquisitions to expand in oil/gas, utility, and transportation markets.
- Financial results show continued revenue growth, increasing margins and profits, strong balance sheet and cash flow.
TRC reported positive financial results for Q4 FY 2014 and full year FY 2014, with net service revenue increasing 9% and 11% respectively. Operating income grew 45% in Q4 and 13% for the full year, while EBITDA increased 38% and 17%. The company will continue to focus on organic growth across its environmental, energy, and infrastructure segments, as well as pursue strategic acquisitions.
This document provides an overview and financial highlights for TRC Companies Inc.'s Q1 Fiscal 2015 results. Some key points:
- Net service revenue increased 14% year-over-year to $92.6 million, with growth in all segments.
- Backlog increased 9% to $260 million, with increases in energy and infrastructure segments.
- Operating income increased 41% to $6 million and EBITDA increased 30% to $8.3 million.
- The company will continue to focus on organic growth opportunities and strategic acquisitions.
The AES Corporation reported its third quarter 2016 financial results. Key points include:
- Adjusted EPS decreased to $0.32 per share from $0.38 per share in Q3 2015 due to foreign exchange impacts and restructuring in Chile.
- Proportional free cash flow was $400 million, down from $621 million in Q3 2015 due to working capital impacts in South America.
- The company is on track to achieve its full-year 2016 guidance.
- AES has 3,389 MW of generation projects under construction globally that are expected to come online through 2019.
11 04-16 third quarter 2016 financial review final (revised mw appendix)AES_BigSky
The AES Corporation reported its third quarter 2016 financial results. Key points include:
- Adjusted EPS decreased to $0.32 per share from $0.38 per share in Q3 2015 due to foreign exchange impacts and restructuring in Chile.
- Proportional free cash flow was $400 million, down from $621 million in Q3 2015 due to working capital impacts in South America.
- The company is on track to achieve its full-year 2016 guidance.
- AES continues to expand its natural gas and renewable generation portfolio through its construction program.
ET April 2023 Investor Presentation_Final.pdfssuser6f254f1
Energy Transfer held an investor presentation in April 2023 to provide operational and financial updates. The presentation contained forward-looking statements about future performance and discussed recent record volumes in midstream operations. It also highlighted strategic acquisitions that expanded the company's Permian Basin footprint and provided an overview of Energy Transfer's integrated national asset portfolio.
TRC reported financial results for the first quarter of fiscal year 2014. Net service revenue increased 6% year-over-year to $81.3 million. Backlog remained stable at $247 million. TRC continues executing its growth strategy focused on high-margin organic growth in utility/power, oil and gas, and infrastructure markets. The company also pursues strategic acquisitions to enhance its service offerings and geographic footprint. TRC is well positioned in markets with solid medium- to long-term growth opportunities and maintains a strong balance sheet and cash position.
The document provides an overview of TDS Telecom's fourth quarter 2016 results and strategic priorities for 2017. Key points include:
- 2016 results showed revenue impacts from competition but improvements in churn. Adjusted EBITDA was up 4% excluding discrete items.
- 2017 priorities are protecting the customer base, driving high margin revenue streams, and continuing cost improvements. Investments will focus on network quality and preparing for VoLTE deployment.
- Guidance for 2017 estimates total operating revenues of $3.8-4 billion and adjusted EBITDA of $650-800 million.
TRC provides engineering, consulting and construction management services to the energy, environmental and infrastructure industries. In the first quarter of fiscal year 2014, TRC's net service revenue grew 6% year-over-year to $81.3 million. TRC's business is diversified across its three segments and large client base. TRC is focused on profitable organic growth through strategic investments in its highest margin sectors such as utility/power and oil and gas. TRC also pursues strategic acquisitions to enhance its service offerings and geographic footprint. TRC has a strong balance sheet and stable backlog to support its continued growth.
This document provides an overview and financial results for TRC Companies Inc.'s Q2 Fiscal 2015. Key points include:
- Net service revenue increased 10% year-over-year to $99.8 million.
- EBITDA increased 28% to $9.5 million and net income increased 29% to $4.0 million.
- The environmental and energy segments saw increases in net service revenue and profits while the infrastructure segment saw declines.
- The company aims to invest in organic growth and pursue strategic acquisitions to expand in key markets like oil/gas midstream.
First quarter 2017 financial results and strategic priorities for TDS and its subsidiaries U.S. Cellular and TDS Telecom.
Key highlights include:
- U.S. Cellular reduced postpaid handset churn to 1.08%, launched new unlimited plans, and saw adjusted EBITDA rise 11%.
- TDS Telecom grew revenues across wireline, cable, and hosted/managed services segments and increased adjusted EBITDA 13%.
- Guidance for 2017 remains unchanged with goals of growing revenues, operating cash flow, and adjusted EBITDA for both companies.
- The document reports on the third quarter 2017 results and provides guidance for full year 2017 results for TDS Telecom and U.S. Cellular.
- It summarizes key metrics such as total operating revenues, adjusted OIBDA, capital expenditures, and customer connections.
- It notes that U.S. Cellular and HMS management revised long-range forecasts, triggering goodwill impairment losses totaling $262 million for TDS and $370 million for U.S. Cellular.
TDS Telecom reported third quarter 2017 results with the following highlights:
- Total operating revenues were $285 million, down 1% year-over-year.
- Wireline revenues grew 2% driven by growth in IPTV and residential revenue per connection.
- Cable revenues increased 12% from broadband growth of 10%.
- Hosted and Managed Services revenues declined 18% from lower hardware installation spending.
- Adjusted EBITDA was $80 million, up 14% year-over-year, driven by growth in Wireline and Cable offset by declines in Hosted and Managed Services.
TRR reported financial results for Q1 FY2015 with year-over-year growth. Net service revenue increased 14% to $92.6M driven by increases in the Energy, Environmental, and Infrastructure segments. Operating income grew 41% to $6M and net income increased 40% to $3.5M. The company will continue to invest in organic growth opportunities and pursue strategic acquisitions to expand its presence in key markets such as oil & gas, utilities, and transportation.
Delta air lines deutsche bank presentation 2018Delta_Airlines
Delta delivered strong profits and cash flows in 2017 through its focus on reliable customer-centered operations. This has produced a sustainable business model through economic cycles. Delta expects to return over 70% of free cash flow to shareholders while continuing balanced investments. Solid demand is driving revenue growth in 2018, but fuel costs are sharply higher, pressuring near-term results. Delta remains focused on addressing costs to offset fuel and deliver full-year unit cost growth below 2%.
This document provides an overview and discussion of Advanced Emissions Solutions' 2015 financial results and strategic priorities. Key points include: revenues increased due to completing emissions control equipment contracts; earnings from the refined coal segment were lower due to capital expenditures to expand operations; and a strategic review is underway to explore options for the emissions control segment while aggressively executing on cost containment initiatives. The company aims to substantially reduce costs while building momentum in attracting new tax equity investors for refined coal facilities.
This document provides an overview and discussion of Advanced Emissions Solutions' 2015 financial results and strategic priorities. Key points include: revenues increased due to completing emissions control equipment contracts; earnings from the refined coal segment were lower due to capital expenditures to expand operations; and a strategic review is underway to explore options for the emissions control segment while aggressively executing on cost containment initiatives. The company aims to substantially progress in attracting new tax equity investors for refined coal facilities by the end of 2016.
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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).
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.
Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
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.
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.
2. Safe Harbor Statement
2
Certain statements in this presentation may be forward-looking statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as
"may," "expects," "plans," "anticipates," "believes," "estimates," or other words of similar import. You should consider statements that
contain these words carefully because they discuss TRC’s future expectations, contain projections of the Company’s future results of
operations or of its financial condition, or state other "forward-looking" information. TRC believes that it is important to communicate
its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict
or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements.
Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially
from those discussed as a result of various factors, including, but not limited to, circumstances which could create large cash outflows,
such as contract losses, litigation, uncollectible receivables and income tax assessments; regulatory uncertainty; the availability of
funding for government projects; the level of demand for TRC’s services; product acceptance; industry-wide competitive factors; the
ability to continue to attract and retain highly skilled and qualified personnel; the availability and adequacy of insurance; capital
availability and project investment by our clients; and general political or economic conditions. Furthermore, market trends are subject
to changes which could adversely affect future results. See the risk factors and additional discussion in TRC’s Annual Report on Form
10-K for the fiscal year ended June 30, 2016, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the
Company’s other filings with the Securities and Exchange Commission.
These slides are intended as a visual aid to TRC’s commentary on the Fourth Quarter and Fiscal Year 2016 Financial Results Conference
Call. As such they should be considered in the full context of that commentary, the transcript of that conference call and TRC’s fiscal
year 2016 Form 10-K and fourth quarter 2016 financial results press release. Also, this presentation contains references to non-GAAP
metrics such as EBITDA, gross margin, free cash flow and various adjusted metrics. A reconciliation of GAAP to non-GAAP metrics can
be found on slides 17-22.
3. Q4 Fiscal 2016 Overview
3
NSR1 increased 16% YOY to $132.3M
Energy +4%, Environmental -9%, Infrastructure +24%, Pipeline Services NSR of $20.8M
NSR backlog increased 16% YOY to $367.2M
Energy -9%, Environmental +8%, Infrastructure +1%, Pipeline Services backlog of $48M
(1) TRC believes net service revenue (gross revenue less subcontractor costs and other direct reimbursable charges) best reflects the value of
services provided to its customers and is the most meaningful indicator of its revenue performance.
(2) Interest expense increase of $1.1M, less interest income increase of $0.5M.
Operating cash flow of $17.7M
Top quintile DSO performance fuels operating cash flow in excess of earnings
Net income decreased 13% YOY to $5.9M
Amortization expense increased $1.9M and net interest expense2 increased $0.6M
EBITDA increased 15% YOY to $14.8M
Highest quarterly earnings in company history
4. EnvironmentalSegment
$13.8 $14.2
$44.1
$41.7
Q4 2015 Q4 2016 FY 2015 FY 2016
Segment Profit (in millions)
-5%
+3%
$58.4 $53.1
$209.8 $206.1
Q4 2015 Q4 2016 FY 2015 FY 2016
Net Service Revenue (in millions)
-9%
-2%
4
NSR -9% YOY; primarily due to oil & gas industry downturn
Segment profit +3% YOY
NSR backlog +8% YOY
Continued decline in oil & gas market, delayed midstream capital projects and reduced
spending across the entire spectrum
Increased segment profit due to previous employee headcount reductions to align
productivity with revenue base ($4.0M of annualized payroll reductions in Q3 2016)
Construction, real estate and power markets gaining momentum
Q4 Fiscal 2016 Results
5. EnergySegment
5
NSR +4% YOY
Segment profit -7% YOY, driven by administrative delays on a significant California
program management contract
NSR backlog -9% YOY
Increased demand for services from long-term and newer clients from continued
investment in electric transmission and distribution across the country
Demand for energy efficiency, testing / commissioning, and distribution engineering
services driving growth
$39.1 $40.5
$145.7 $150.6
Q4 2015 Q4 2016 FY 2015 FY 2016
Net Service Revenue (in millions)
+3%
$9.5 $8.8
$32.1
$33.7
Q4 2015 Q4 2016 FY 2015 FY 2016
Segment Profit (in millions)
+5%
-7%+4%
Q4 Fiscal 2016 Results
6. InfrastructureSegment
6
Q4 Fiscal 2016 Results
NSR +24% YOY
Segment profit +32% YOY
NSR backlog +1% YOY
Transportation market strengthening via FAST Act, as well as increased state and local
funding initiatives
Private investment and state legislation expanding PPP programs
Expansions of services in CA, FL, OH and SC
$13.6
$16.9
$49.1
$57.2
Q4 2015 Q4 2016 FY 2015 FY 2016
Net Service Revenue(in millions)
+17%
$3.0
$3.9
$9.2
$12.0
Q4 2015 Q4 2016 FY 2015 FY 2016
Segment Profit (in millions)
+32%
+31%
+24%
7. PipelineServicesSegment
7
NSR $20.8 million
Segment loss of $(3.2) million, including intangible asset amortization of $2.1 million and
acquisition integration expenses of $2.3 million, primarily lease abandonment charges
NSR backlog $48 million
Realigned cost structure to address continued uncertainty in oil & gas markets
• (~$18M annualized payroll reductions since 12/1/15)
Integration activities are substantially complete; focus is on client synergies and sales
$21.5 $20.8
Q3 2016 Q4 2016
Net Service Revenue(in millions)
Q4 Fiscal 2016 Results
$(3.1) $(3.2)
Segment (Loss) (in millions)
Q4 2016Q3 2016
8. $90 $96 $91
$96 $91 $87
$131 $139 $141
$50 $48
Q4 2015 Q3 2016 Q4 2016
Segment NSR Backlog
$367
NSR Backlog & New Project Wins
8
(in millions)
$317
$376
Energy
• PSE&G - $10M substation electrical commissioning and
testing
• Consolidated Edison - $2.5M for quality assurance /
quality control services for energy efficiency
Environmental
• Xcel Energy Services, Inc. – $10M indefinite delivery /
indefinite quantity contract for environmental services
• Eversource Energy - $3M turnkey environmental services
Infrastructure
• LA Metro Transport. Authority – $6.4M for design and
environmental studies in widening two freeways
• Alabama DOT – $0.5M for testing and inspection of bridge
and highway structures
Pipeline Services
• Confidential Client - $4.5M pipeline project
• PSNC Energy (a SCANA company) - $3M compressor
station project
Recent Project Awards
9. Fiscal 2016 Highlights
9
NSR of $465.1 million, up 14%
Adjusted EBITDA of $44.6 million, up 11%
Operating cash flow of $48.1 million, up 50%
Acquisition-related debt reduced by $30 million or 29%
Acquired and fully integrated Willbros Professional Services
Quickly reduced costs as the downturn in oil and gas prices created market
turmoil and uncertainty
Benefitted from the diversity of our four-segment portfolio: Infrastructure
segment realized 17% NSR growth and 31% segment profit growth
16% backlog growth for the year sets the stage for fiscal 2017
10. Key Strategies and Initiatives
10
Continue to invest in organic growth opportunities
Increase focus on strategic markets:
Power / Utility – Continued investment to modernize gas & electric systems;
significant renewable generation investment and focus on energy efficiency
Transportation – FAST transportation bill supports capital expansion; growing
trend toward PPP projects
Oil & Gas – Changing midstream and LDC market dynamics resulting in focus on
repair / maintenance, upgrade, and monitoring of existing assets using IT
solutions
Continue building program management and construction management capabilities
Pursue acquisitions that provide geographic expansion and enhanced technical
capabilities or new adjacent services
Continue focus on improving operating margin and increasing operating cash flow
11. FY 2017 Outlook
11
Long-term markets favorable for all segments
Mid term, Environmental and Oil and Gas segments are positioned for
growth when midstream markets recover and capital expenditure
uncertainty tapers
Near term, Oil and Gas segment will see growth opportunities due to
proposed integrity “Mega Rule”
Environmental segment near-term outlook solid with demand growth in
municipal, real estate and power markets
Power segment growth on demand from utility clients investing in energy
efficiency, renewable power and robust distribution systems
Infrastructure segment backlog building on increased transportation
spending and our national expansion strategy
12. $12.9
$14.8
Q4 2015 Q4 2016
EBITDA(in millions)
Quarterly Financial Results Overview
12
$114.6
$132.3
Q4 2015 Q4 2016
Net Service Revenue (in millions)
+16%
$12.9
$15.2
Q4 2015 Q4 2016
Adjusted EBITDA*(in millions)
+18%
*Excludes $2.8 million of acquisition and integration expenses and the $2.5 million goodwill impairment credit.
+15%
$6.8
$5.9
Q4 2015 Q4 2016
Net Income (in millions)
-13%
13. Q4 2015
$114.6
$0.3
$90.0
21.4%
$12.0
10.5%
--
--
$10.7
$10.7
$12.9
11.2%
$12.9
11.2%
$6.8
$6.8
$0.22
$0.22
Q4 2016
$132.3
$14.2
$121.6
8.1%
$9.7
7.3%
$2.8
$(2.5)
$10.3
$10.6
$14.8
11.2%
$15.2
11.5%
$5.9
$6.1
$0.19
$0.20
13
(In millions, except per share data)
Quarterly Income Statement Highlights
78.5%
91.9%
Q4 2015 Q4 2016
Cost of Services as % of NSR
10.5%
7.3%
Q4 2015 Q4 2016
G&A Expenses as % of NSR
Net service revenue
Insurance recoverables and other income
Cost of services (COS)
Gross margin %
General and administrative expenses
G&A as % of NSR
Acquisition and integration expenses
Goodwill impairment
Operating income
Adjusted operating income1
EBITDA
EBITDA as a % of NSR
Adjusted EBITDA1
Adjusted EBITDA as a % of NSR
Net income
Adjusted net income1, 2
Diluted earnings per common share
Adjusted diluted earnings per common share1, 2
1
Excludes $2.8 million of acquisition and integration expenses and the $2.5 million goodwill impairment credit. 2
Excludes acquisition related
expense and goodwill impairment credit in note 1, net of an income tax benefit of 0.1 million
Q4 2015 Q4 2016
Net Service Revenue (0.2)$ (2.1)$
Insurance Recoverables 0.3 14.0
Cost of Services 0.2 11.4
Operating (Loss) Income (0.1)$ 0.5$
Exit Strategy Change in Estimate
14. $40.0
$16.1
FY 2015 FY 2016
EBITDA(in millions)
FY 2016 Financial Results Overview
14
$408.0
$465.1
FY 2015 FY 2016
Net Service Revenue (in millions)
+14%
$40.0
$44.6
FY 2015 FY 2016
Adjusted EBITDA*(in millions)
+11%-60%
$19.4
$-
FY 2015 FY 2016
Net Income (in millions)
-100%
1
Excludes $6.6 million of acquisition and integration expenses and $22 million related to the impairment of goodwill. 2
Excludes goodwill impairment and
acquisition related expense in note 1, net of an income tax benefit of $10.9 million.
15. FY 2015
$408.0
$6.6
$337.3
17.3%
$37.3
9.1%
--
--
$30.7
$30.7
$40.0
9.8%
$40.0
9.8%
$19.4
$19.4
$0.63
$0.63
YTD 2015
$192.5
$5.5
$163.8
14.9%
$16.4
$12.9
$17.8
9.2%
$7.5
$0.25
15
(In millions, except per share data)
FY 2016 Income Statement Highlights
82.7%
86.5%
FY 2015 FY 2016
Cost of Services as % of NSR
9.1%
7.4%
FY 2015 FY 2016
G&A Expenses as % of NSR
1
Excludes $6.6 million of acquisition and integration expenses and $22 million related to the impairment of goodwill. 2
Excludes goodwill impairment and
acquisition integration related expense in note 1, net of an income tax benefit of $10.9 million.
Net service revenue
Insurance recoverables and other income
Cost of services (COS)
Gross margin %
General and administrative expenses
G&A as % of NSR
Acquisition and integration expense
Goodwill impairment
Operating income
Adjusted operating income1
EBITDA
EBITDA as a % of NSR
Adjusted EBITDA1
Adjusted EBITDA as a % of NSR
Net income
Adjusted net income1, 2
Diluted earnings per common share
Adjusted diluted earnings per common share1, 2
FY 2016
$465.1
$16.2
$402.3
13.5%
$34.4
7.4%
$6.6
$22.0
$1.3
$29.9
$16.1
3.5%
$44.6
9.6%
$0.0
$17.7
$0.00
$0.56
FY 2015 FY 2016
Net Service Revenue (2.6)$ (3.5)$
Insurance Recoverables 3.9 15.7
Cost of Services 2.5 13.3
Operating Loss (1.2)$ (1.1)$
Exit Strategy Change in Estimate
16. 16
Balance Sheet Highlights
Cash and cash equivalents
Days sales outstanding (DSO)
Acquisition-related debt repayment
Acquisition-related debt balance
Cash Flow Highlights
Cash flow from operations
Capital expenditures
Free cash flow
Q4 2015
--
--
$19.5
$(1.6)
$17.9
Q4 2016
$(2.8)
$72.2
$17.7
$(1.8)
$15.9
(In millions)
Balance Sheet and Cash Flow Highlights
FY 2015
$37.3
83 days
$32.1
$(6.6)
$25.5
FY 2016
$18.8
79 days
$(29.8)
$72.2
$48.1
$(8.3)
$39.8
17. 17
Earnings Before Interest, Taxes, Depreciation, Amortization and Goodwill & Intangible Asset Impairment
In millions
Q4 - 2015 Q4 - 2016
Net income applicable to TRC Companies, Inc.'s common shareholders $6.8 $5.9
Interest expense 0.0 1.1
Interest income - (0.5)
Provision for income taxes 3.9 3.7
Depreciation and amortization 2.2 4.6
Net income (loss) applicable to noncontrolling interest (0.0) 0.0
Equity in earnings from unconsolidated affiliates, net of taxes - -
Accretion charges on preferred stock - -
Consolidated EBITDA $12.9 $14.8
Less: Acquisition and integration expenses - $2.8
Less: Goodwill impairment - ($2.5)
Consolidated Adjusted EBITDA $12.9 $15.2
In millions
Q4 - 2015 Q4 - 2016
Net service revenue $114.6 $132.3
Cost of services 90.0 121.6
Gross Margin $24.6 $10.7
Gross Margin % 21.4% 8.1%
Gross Margin and Gross Margin %
Reconciliation of Non-GAAP Measures
18. 18
Earnings Before Interest, Taxes, Depreciation, Amortization and Goodwill & Intangible Asset Impairment
In millions
YTD - 2015 YTD - 2016
Net income applicable to TRC Companies, Inc.'s common shareholders $19.4 $0.0
Interest expense 0.1 2.7
Interest income - (0.8)
Provision for income taxes 11.2 (0.7)
Depreciation and amortization 9.3 14.7
Net income (loss) applicable to noncontrolling interest (0.0) 0.1
Equity in earnings from unconsolidated affiliates, net of taxes - -
Accretion charges on preferred stock - -
Consolidated EBITDA $40.0 $16.1
Less: Acquisition and integration expenses - $6.6
Less: Goodwill impairment - $22.0
Consolidated Adjusted EBITDA $40.0 $44.6
In millions
YTD - 2015 YTD - 2016
Net service revenue $408.0 $465.1
Cost of services 337.3 402.3
Gross Margin $70.7 $62.8
Gross Margin % 17.3% 13.5%
Gross Margin and Gross Margin %
Reconciliation of Non-GAAP Measures
19. 19
In millions
Q4 - 2015 Q4 - 2016
Net cash provided by operating activities $19.5 $17.7
Additions to property and equipment (1.6) (1.8)
Free Cash Flow $17.9 $15.9
Free Cash Flow
In millions
YTD - 2015 YTD - 2016
Net cash provided by operating activities $32.1 $48.1
Additions to property and equipment (6.6) (8.3)
Free Cash Flow $25.5 $39.8
Free Cash Flow
Reconciliation of Non-GAAP Measures
20. 20
In millions
Q4 - 2015 Q4 - 2016
Net income applicable to TRC Companies, Inc.'s common shareholders $6.8 $5.9
Acquisition and integration Expenses - $2.8
Tax Effect of Acquisition and integration Expenses - ($1.1)
Goodwill impairment - ($2.5)
Tax Effect of Goodwill impairment - $1.0
Adjusted Net Income Applicable to TRC Companies, Inc's Common Shareholders $6.8 $6.1
Adjusted Net Income Applicable to TRC Companies, Inc.'s Common Shareholders
Reconciliation of Non-GAAP Measures
In millions
YTD - 2015 YTD - 2016
Net income applicable to TRC Companies, Inc.'s common shareholders $19.4 $0.0
Acquisition and integration Expenses - $6.6
Tax Effect of Acquisition and integration Expenses - ($2.4)
Goodwill impairment - $22.0
Tax Effect of Goodwill impairment - ($8.5)
Adjusted Net Income Applicable to TRC Companies, Inc's Common Shareholders $19.4 $17.7
Adjusted Net Income Applicable to TRC Companies, Inc.'s Common Shareholders
21. 21
In millions
Q4 2015 Q4 2016
Operating income $10.7 $10.3
Acquisition and integration Expenses - $2.8
Goodwill impairment - ($2.5)
Adjusted operating income $10.7 $10.6
In millions
Q4 2015 Q4 2016
Net income applicable to TRC Companies, Inc.'s common shareholders $6.8 $5.9
Acquisition and integration Expenses - $2.8
Tax Effect of Acquisition and integration Expenses - ($1.1)
Goodwill impairment - ($2.5)
Tax Effect of Goodwill impairment - $1.0
Adjusted net income applicable to TRC Companies, Inc's common shareholders $6.8 $6.1
Diluted shares outstanding (as disclosed) 31.2 31.4
Add back for dilutive shares - -
Adjusted diluted shares outstanding 31.2 31.4
Adjusted diluted earnings per common share $0.22 $0.20
Adjusted Diluted Earnings per Common Share
Adjusted Operating Income
Reconciliation of Non-GAAP Measures
22. 22
In millions
YTD 2015 YTD 2016
Operating income $30.7 $1.3
Acquisition and integration Expenses - $6.6
Goodwill impairment - $22.0
Adjusted operating income $30.7 $29.9
In millions
YTD 2015 YTD 2016
Net income applicable to TRC Companies, Inc.'s common shareholders $19.4 $0.0
Acquisition and integration Expenses - $6.6
Tax Effect of Acquisition and integration Expenses - ($2.4)
Goodwill impairment - $22.0
Tax Effect of Goodwill impairment - ($8.5)
Adjusted net income applicable to TRC Companies, Inc's common shareholders $19.4 $17.7
Diluted shares outstanding (as disclosed) 30.7 31.4
Add back for dilutive shares - 0.0
Adjusted diluted shares outstanding 30.7 31.4
Adjusted diluted earnings per common share $0.63 $0.56
Adjusted Diluted Earnings per Common Share
Adjusted Operating Income
Reconciliation of Non-GAAP Measures
23. 23
Earnings Before Interest, Taxes, Depreciation, Amortization (EBITDA)
The Company presents EBITDA because it believes that it is a useful tool for the Company, its lenders
and its investors to measure the Company’s ability to meet debt service, capital expenditure and
working capital requirements. As used in the presentation, EBITDA is operating income plus
depreciation and amortization.
Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization (Adjusted EBITDA)
As used in the presentation, Adjusted EBITDA is defined as EBITDA plus acquisition and integration
expenses and the amount of the goodwill impairment.
Gross Margin and Gross Margin %
The Company presents Gross Margin and Gross Margin % to allow investors to better evaluate short-
term and long-term profitability trends. The definition of Gross Margin is equal to Net Service Revenue
less Cost of Services. Gross Margin % is equal to Gross Margin Divided by Net Service Revenue.
Free Cash Flow
The Company presents free cash flow, and ratios based on it, to conduct and evaluate its business
because, although it is similar to cash flow from operations, the Company believes it is a useful
measure of cash flows since purchases of fixed assets are a necessary component of ongoing
operations. The definition of Free Cash Flow is equal to net cash provided by (used in) operating
activities plus additions to property and equipment.
Definitions for Non-GAAP Measures
24. 24
Adjusted Operating Income
The Company presents Adjusted Operating Income because it believes that it is a useful tool for the
Company, its lenders and its investors to measure the Company’s underlying operating performance.
As used in the presentation, Adjusted Operating Income is defined as operating income plus
acquisition and integration expenses and the amount of the goodwill impairment.
Adjusted Net Income
The Company presents Adjusted Net Income because it believes that it is a useful tool for the
Company, its lenders and its investors to measure the Company’s financial performance. As used in
the presentation, Adjusted Net Income is defined as net income applicable to TRC Companies, Inc.
plus the tax effected acquisition and integration expenses and the amount of the goodwill impairment.
The Company utilizes its effective tax rate for the period in calculating the tax effect.
Adjusted Diluted Earnings Per Share (Adjusted Diluted EPS)
The Company presents Adjusted Diluted EPS because it believes that it is a useful tool for the
Company, its lenders and its investors to measure the Company’s financial performance. As used in
the presentation, Adjusted Diluted EPS is defined as Adjusted Net Income divided by diluted weighted
average shares outstanding.
Definitions for Non-GAAP Measures