Slide 1: Teekay Corporation First Quarter 2021 Earnings Presentation
Teekay Corporation First Quarter 2021 Earnings Presentation May 13, 2021
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current views with respect to certain future events and performance, including statements, among other things, re
Slide 3: Q1-21 Financial Highlights
Teekay Group Total Adjusted EBITDA(1) Q1-21 Financial Quarterly Cash Flows and Earnings Highlights • Total Adjusted EBITDA(1) of $202M in Q1-21, 250 compared to $201M in Q4-20 200 All Teekay entities reported 201 202 $ Millions • Consolidated Adjusted Net Income(1) of $11M, or 150 stronger results c
Slide 4: Significant Progress on Winding Down FPSO Segment
Significant Progress on Winding Down FPSO Segment Assuming conditions of decommissioning agreement Successfully completed Phase I of decommissioning project below budget are met by June 2021, expect Recorded net negative EBITDA of $1M in Q1-21, which came in $3M ahead to reduce total accrued asset o
Slide 5: Daughter Company Updates: Teekay LNG and Teekay Tankers
Teekay LNG (TGP) Teekay Tankers (TNK) Daughter Company Updates • Q1-21 adjusted net income(1) of $60M, or $0.61 per unit, • Q1-21 adjusted net loss(1) of ($22.0)M, or ($0.65) per share, which is slightly better than Q4-20 compared to $(40.7)M, or ($1.21) per share, in Q4-20 • Experiencing counter-se
Slide 6: Appendix
Appendix 6
Slide 7: Consolidated Adjusted Net Income Reconciliation
(1) (1) Consolidated Adjusted Net Income (Thousands of U.S. Dollars except per share am ounts) Q1-2021 Q4-2020 (unaudited) (unaudited) Variance Com m ents Reconciliation(1) Revenues Voyage expenses 359,602 (76,225) 357,807 (64,437) 1,795 (11,788) Net revenues 283,377 293,370 (9,993) Teekay Parent -
Slide 8: Q2-2021 Outlook – Teekay Consolidated
Q2-2021 Outlook – Teekay Consolidated Q1-21 in millions Q2-21 Adjusted Net Income Outlook Income Statement Item adjusted basis (expected changes from Q1-21) (1) Teekay Parent • $4m decrease due to non-recurring completion payment received in Q1-21 from our marine services business in Australia. Teek
Slide 9: Consolidated Adjusted Statement of Net Income Reconciliation
Consolidated Adjusted Statement of Net Income Reconciliation Three Months Ended March 31, 2021 Three Months Ended December 31, 2020 Reclass for Reclass for Realized Gains/ Realized Gains/ Q1-21 vs. Q4-20 (in thousands of US dollars, except per share amounts) Appendix A Losses Appendix A Losses As Re
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