Fortis Inc. · TSX:FTS
Fortis — Q3 2014 Earnings Presentation
12 slides from Fortis's earnings presentation, Nov 7, 2014
Slide 1: Third Quarter 2014 Earnings Call
Third Quarter 2014 Earnings Call November 7, 2014 1
Slide 2: Donna Hynes, Manager, Investor & Public Relations
Donna Hynes Manager, Investor & Public Relations Logistics 2
Slide 3: Forward-Looking Statement
Fortis includes forward-looking information in this material within the meaning of applicable securities laws in Canada (“forward-looking information”). The purpose of the forward-looking information is to provide management’s expectations regarding the Corporation’s future growth, results of operat
Slide 4: Barry Perry, President & Incoming CEO
Barry Perry President & Incoming CEO Corporate Update 4
Slide 5: Strategic Initiatives
UNS Energy acquisition closed August 15, 2014 o Accretive to earnings per common share, excluding one-time acquisition-related costs o Further diversifies assets geographically and by regulatory jurisdiction o Permanent equity-based financing complete Strategic Initiatives Strategic review of Fo
Slide 6: Growth Through Investment
Major energy infrastructure projects o $900 million Waneta Expansion o $400 million Tilbury Phase 1A o $450 million Tilbury Phase 1B (potential) Growth o $600 million Woodfibre (potential) Through Period of significant organic growth Investment o 2014 capex $1.8 billion o 2014-2018 capex over $9
Slide 7: Focus
Initial push into U.S. utility business accomplished Focus next 12-18 months o Fully integrate UNS Energy Focus o Execute capex program o Complete strategic review of Fortis Properties Well positioned for a strong and successful 2015 7
Slide 8: Karl Smith, Executive VP, CFO
Karl Smith Financial Results Executive VP, CFO Regulatory Update 8
Slide 9: Earnings
Q3 ($M, except as noted) 2014 2013 Change Basic Earnings per Common Share $0.06 $0.23 ($0.17) Net Earnings Attributable to Common Shares 14 48 (34) Earnings Adjusted items: Acquisition-related costs 35 - 35 Interest on convertible debentures 23 - 23 Adjusted Net Earnings Attributable to Common Share
Slide 10: Financing
$1 billion long-term debt raised YTD UNS Energy financing o $600 million preference shares completed o $1.8 billion common equity completed o $500 million remaining to permanently finance o Proceeds from Fortis Properties and/or issue US$ debt Financing Low debt maturity profile Unutilized c
Slide 11: Regulatory
Central Hudson o General rate application for July 2015 rates o Reforming the Energy Vision (REV) proceeding British Columbia 2014-2019 PBR decision Regulatory FortisAlberta o Capital tracker o 2015 annual rates application o 2013-2014 generic cost of capital proceeding 11
Slide 12: Q&A: Leader in Electric & Gas Utilities in North America
Q&A Leader in Electric & Gas Utilities in North America 12