Slide 1: Teekay Corporation Q3-2016 Earnings Presentation
TEEKAY TEEKAY TEEKAY CORPORATION Q3-2016 EARNINGS PRESENTATION November 4, 2016
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 regarding: the Company’
Slide 3: Recent Highlights
Recent Highlights • Generated Q3-16 consolidated CFVO1 of $285.5 million • Reported Q3-16 adjusted net loss1 of $19.5 million, or $0.23 per share • Declared a Q3-16 cash dividend of $0.055 per share • Sold last remaining directly-owned conventional tanker, the Shoshone Spirit VLCC, for gross proceed
Slide 4: Recent Daughter Highlights
Recent Daughter Highlights Teekay LNG Partners • Generated Q3-16 distributable cash flow1 of $54.3 million, or $0.68 per common unit • Declared Q3-16 cash distribution of $0.14 per unit – distribution coverage ratio of 4.8x • All LNG carrier newbuildings now committed to charter contracts • On track
Slide 5: Financing of TGP's Growth Projects On Track
Financing of TGP’s Growth Projects On Track Committed and Remaining Anticipated 2 CAPEX Debt Financing 0 Project ($ millions as Financing Status 2017 2018 2019 2020 ($ millions as at 1 at September September 30, 6 30, 2016)(1) 2016)(1) 5 vessels with 6 – 8 year contracts, plus extension options with
Slide 6: TOO's Growth Pipeline
TOO’s Growth Pipeline Growth projects on-track; working with charterer, yard and lenders to resolve Petrojarl I FPSO delay Remaining Remaining Undrawn Project CAPEX 2017 2018 ($ millions as at Sep Financing 30, 2016) ($ millions as at Sep 30, 2016) ALP Towage 50 68 Newbuildings(1) Gina Krog FSO(2) F
Slide 7: Appendix
Appendix 7
Slide 8: Q4 2016 Outlook – Teekay Consolidated
Q4 2016 Outlook – Teekay Consolidated Income Q4 2016 Statement Item Outlook (expected changes from Q3-16) Teekay Parent: $10m increase from the Q4-16 recognition of annual operational tariff revenue from the Foinaven FPSO $4m decrease from the sale of the Shoshone Spirit VLCC in early-October 20
Slide 9: Consolidated Adjusted Line Items
Consolidated Adjusted Line Items Q3-16 Income Statement Item As Reported Appendix A Reclassification As Adjusted Items (1) for Realized Gains/ Loss on Derivatives (2) Revenues 547,639 (1,430) 1,096 547,305 Vessel Operating Expenses (OPEX) (204,156) - (1,210) (205,366) General & Administrative Expens
Slide 10: Bringing Energy To
BRINGING ENERGY TO