Teekay Corporation Ltd. · NYSE:TK

Teekay — Q2 2021 Earnings Presentation

11 slides from Teekay's earnings presentation, Aug 5, 2021

  1. Slide 1: Teekay Corporation Second Quarter 2021 Earnings Presentation

    Teekay Corporation Second Quarter 2021 Earnings Presentation August 5, 2021

  2. 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

  3. Slide 3: Group Total Adjusted EBITDA: Quarterly Cash Flows and Earnings

    Teekay Group Total Adjusted EBITDA(1) Quarterly Cash Flows and Earnings Q2-21 Highlights 250 • Total Adjusted EBITDA(1) of $172 million 200 Solid quarter in our gas in Q2-21, compared to $202 million in Q1- 202 $ Millions 150 business despite higher-than- 21 172 normal number of drydockings 100 • Co

  4. Slide 4: Reached Major Milestone in Winding Down FPSO Segment

    Reached Major Milestone in Winding Down FPSO Segment Reduced asset retirement obligation (ARO) liability In May 2021, completed all conditions precedent on an agreement whereby the customer took over our remaining Phase II decommissioning associated with the Banff responsibilities, which eliminates

  5. Slide 5: Daughter Company Updates

    Teekay LNG (TGP) Teekay Tankers (TNK) Daughter Company Updates • Q2-21 adjusted net income(1) of $57 million, or • Q2-21 adjusted net loss(1) of ($41) million, or ($1.23) per share, compared to $(22) million, or ($0.65) per share, in $0.57 per unit, compared to $60 million, or Q1-21 $0.61 per unit i

  6. Slide 6: Teekay Corp - Levered Play on Daughter Entities

    Teekay Parent Sum-of-the Parts (SOTP) In $ Millions, except per share figures Teekay Corp - Levered Current(1) 10% Share Price 20% Share Price Play on Daughter Appreciation of Appreciation of TGP and TNK(2) TGP and TNK(2) Entities Equity Investments in Daughters(3) Reversed Banff ARO liability by $3

  7. Slide 7: Appendix

    Appendix 7

  8. Slide 8: Consolidated Adjusted Net Income Reconciliation

    (1) (1) Consolidated Adjusted Net Income Reconciliation(1) (Thousands of U.S. Dollars except per Q2-2021 Q1-2021 share amounts) (unaudited) (unaudited) Variance Comments Q2-21 vs. Q1-21 Revenues 325,351 359,602 (34,251) Voyage expenses (78,128) (76,225) (1,903) Net revenues 247,223 283,377 (36,154)

  9. Slide 9: Q3-2021 Outlook – Teekay Consolidated

    Q3-2021 Outlook – Teekay Consolidated Q2-21 in millions Q3-21 Adjusted Net Income Outlook Income Statement Item adjusted basis (expected changes from Q2-21) (1) Teekay LNG • $1M decrease due to the drydocking and redeployment of certain LNG carriers in Q3-21 Teekay Tankers • Increase of approximatel

  10. Slide 10: Consolidated Adjusted Statement of Net Income Reconciliation

    Consolidated Adjusted Statement of Net Income Reconciliation Three Months Ended Three Months Ended Q2-21 vs. Q1-21 June 30, 2021 Reclass for March 31, 2021 Reclass for Realized Gains/ Realized Gains/ (in thousands of US dollars, except per share amounts) Appendix A Losses Appendix A Losses (1) (2) (

  11. Slide 11: Slide 11

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