Slide 1: Teekay Corporation Q2-2019 Earnings Presentation
Teekay Corporation Q2-2019 Earnings Presentation August 1, 2019
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, reg
Slide 3: Q2-19 Results And Teekay Parent Highlights
Total Adjusted EBITDA(1) Q2-19 Results And $200 Teekay Parent Highlights $175 Total Adjusted EBITDA Teekay Consolidated increased by over $32 million, • Q2-19 total adjusted EBITDA(1) of $197 million, $150 or 20%, in Q2-19 vs. Q2-18 compared to $164 million in Q2-18 • Q2-19 consolidated adjusted net
Slide 4: Focused On Maximizing Value Of Teekay Parent's Assets
Focused On Maximizing Value of Teekay Parent’s Assets Also focused on reducing G&A across the Teekay Group • Teekay consolidated G&A down Sevan 15% (Q2-19 vs. Q2-18) TOO • Teekay Parent Corp G&A down TGP ASA 30% (Q2-19 vs. Q2-18) • Total unitholder return of TNK 34.4% YTD • Total shareholder return
Slide 5: Teekay Parent FPSO Update
Historical FPSO Adj EBITDA Hummingbird Banff Foinaven Teekay Parent FPSO Update 50 45 Q3-19 results estimated to be lower 40 as a result of planned maintenance shutdowns on the Foinaven and 35 Banff FPSO units and higher 30 corresponding maintenance costs; 25 however, all 3 FPSO units expected to re
Slide 6: Teekay LNG (TGP) Recent Highlights
Recent Highlights • Q2-19 total adjusted EBITDA(1) of $162 million Teekay LNG (“TGP”) and adjusted net income(1) of $34 million, or $0.35 Earnings Per Unit Net Debt / per unit, up 41%, 154% and 289% from Q2-18, Annualized EBITDA (3) respectively $0.40 10x • In June 2019, delivery of the third, 50%-o
Slide 7: Teekay Tankers Recent Highlights
Recent Highlights FCF1 Per Share Spot Rate Teekay Tankers • Q2-19 total adjusted EBITDA(1) of $36 million, Sensitivity2 (“TNK”) compared to $17 million in Q2-18 TNK has significant cash flow • Q2-19 adjusted net loss(1) of $(12) million, or $1.50 and asset price upside from a $(0.05) per share, comp
Slide 8: Save The Date
Save The Date October 2, 2019 \a Grand Hyatt Hotel, New York 8:00 - 8:30 am 8:30 - 11:30 am To RSVP: For more information, and to request a 1x1 investor meeting: Registration Presentations (1x1s to follow) +1 604 609 6437 emily.yee@teekay.com
Slide 9: Appendix
Appendix 9
Slide 10: Consolidated Adjusted Net Loss Reconciliation
(Thousands of U.S. Dollars except Q2-2019 Q1-2019 Consolidated per share am ounts) (unaudited) (1) (unaudited) (1) Variance Com m ents Adjusted Net Loss Revenues Voyage expenses 457,638 (98,680) 474,737 (103,123) (17,099) 4,443 Reconciliation Net revenues 358,958 371,614 (12,656) Teekay Parent - $10
Slide 11: Q3-19 Outlook
Q3-19 Outlook – Income Q2-19 Q3 2019 Teekay Consolidated Statement Item in millions Outlook (expected changes from Q2-19) (1) Teekay Parent • $7m decrease from the Banff FPSO from higher oil tariff revenue in Q2-19 due to timing of offloading and planned maintenance in Q3-19 • $4m decrease from the
Slide 12: Consolidated Adjusted Net Loss Reconciliation
Consolidated Teekay Corporation Q2-2019 Consolidated Adjusted Statement of Net Loss Adjusted Net Loss Three Months Ended Three Months Ended June 30, 2019 March 31, 2019 Reconciliation Reclass for Reclass for (in thousands of US dollars, except per share amounts) Realized Gains/ Realized Gains/ Appen
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