Slide 1: Teekay's Q4-2017 Earnings Presentation
TEEKAY’S Q4- 2017 EARNINGS PRESENTATION February 22, 2018
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: the benefit to the Company’s futu
Slide 3: Q4-17 Results and Recent Developments
TO BE UPDATED Q4-17 Results and Recent Developments Teekay Corporation Consolidated • Generated Q4-17 consolidated total cash flow from vessel operations (CFVO)(1) of $183.6 million • Reported Q4-17 consolidated adjusted net loss(1) of $9.5 million, or $0.11 per share Completed $222.5m Opportunistic
Slide 4: Teekay LNG Partners ("TGP")
Teekay LNG Partners (“TGP”) Recent Results & Highlights Existing Growth Projects • Generated Q4-17 distributable cash Project 2017 2018 2019 2020 flow(1) of $52.1 million, or $0.65 per 5 vessels with 6 – 8 year contracts, plus extension common unit, and total cash flow from 7 MEGI LNG Carriers optio
Slide 5: Teekay Offshore Partners ("TOO")
Teekay Offshore Partners (“TOO”) Recent Results & Highlights Existing Growth Projects • Generated Q4-17 distributable cash Project 2017 2018 2019 2020 flow(1) of $34.4 million, or $0.08 per Randgrid FSO Statoil Firm period out to 2020 (conversion) Options out to 2032 common unit, and total cash flow
Slide 6: Teekay Tankers ("TNK")
Teekay Tankers (“TNK”) Recent Results & Highlights TNK Represents Compelling Value Con’t • Generated Q4-17 adjusted net loss(1) of • Significant value in TNK stock when $5.9 million, or $0.03 per share, and tanker market and asset prices recover total cash flow from vessel operations(1) to mid-cycle
Slide 7: Teekay Group at an Inflection Point
Teekay Group at an Inflection Point Well-positioned to benefit from a broad energy market recovery Key Drivers TGP TOO TNK TKC Financings Brookfield Capital raises Financial complete; investment; TIL merger and provide natural natural refinancing Strength flexibility and delevering as delevering as
Slide 8: Appendix
Appendix 8
Slide 9: Consolidated Adjusted Net Loss
Consolidated Adjusted Net Loss Q4-17 Three Months Ended December 31, 2017 Three Months Ended September 30, 2017 Reclass for Consolidated and (in thousands of US dollars, except per share amounts) Realized Gains/ assuming TOO was Consolidated Appendix A Losses Consolidated equity-accounted for As Rep
Slide 10: Consolidated Adjusted Net Loss
Consolidated Adjusted Net Loss Q3-17 Three Months Ended September 30, 2017 For the period July 1 - September 25, 2017 Three Months Ended September 30, 2017 Reclass for Consolidated and (in thousands of US dollars, except per share amounts) Realized Gains/ assuming TOO was Consolidated Appendix A Los
Slide 11: Q1 2018 Outlook – Teekay Consolidated
Q1 2018 Outlook – Teekay Consolidated Income Q1 2018 Statement Item Outlook (expected changes from Q4-17) (1) Teekay Parent: • $7m decrease from the Foinaven FPSO from the recognition of annual operational tariff revenue in Q4-17 • $4m increase from the Hummingbird and Banff FPSOs primarily due to h
Slide 12: Poised to Benefit from Stronger Oil Prices
Poised to Benefit from Stronger Oil Prices Teekay Parent’s 3 directly-owned FPSOs benefit from oil price and production tariffs Hummingbird Spirit Banff Foinaven As of Oct. 1st, commenced 3- Operating under Evergreen contract Unit returned to service on Oct. year contract extension to 27 after sched
Slide 13: Bringing Energy to the World
BRINGING ENERGY TO THE WORLD