Slide 1: Teekay Corporation Q1-2017 Earnings Presentation
TEEKAY CORPORATION Q1-2017 EARNINGS PRESENTATION May 19, 2017
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the U.S. 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 Are
Slide 3: Recent Highlights
Recent Highlights • Generated Q1-17 consolidated cash flow from vessel operations (CFVO)(1) of $275.0 million • Reported Q1-17 adjusted net loss(1) of $35.7 million, or $0.41 per share • Two new contracts expected to increase Teekay Parent CFVO o Finalized contract amendment to extend the firm perio
Slide 4: Recent Daughter Highlights
Recent Daughter Highlights Teekay LNG Partners • Generated Q1-17 distributable cash flow(1) of $43.2 million, or $0.54 per common unit • Declared Q1-17 cash distribution of $0.14 per unit • Growth projects and related financing plan remains on track Teekay Tankers • Generated Q1-17 adjusted net inco
Slide 5: Signs of "Green Shoots" in Core Offshore Markets
Signs of “Green Shoots” in Core Offshore Markets Petrobras launches Buzios FPSO tender Premier eyes Catcher output hike Norway doubles Barents resource tally Exxon, Petrobras Said to Have Discussed Strategic Partnership Centrica to extend Petrobras posts best quarterly results in two life of Chestnu
Slide 6: Hummingbird Spirit FPSO
Hummingbird Spirit FPSO Finalized three-year contract extension to 2020 • Effective date of contract extension: Oct. 1, 2017 • OPEX fully reimbursable, plus tariff • Centrica announced plans to boost revenue based on oil production and production and extend the life of oil price above $45 the Chestn
Slide 7: Appendix
Appendix 7
Slide 8: Q2 2017 Outlook – Teekay Consolidated
Q2 2017 Outlook – Teekay Consolidated Income Q2 2017 Statement Item Outlook (expected changes from Q1-17) Teekay Parent: $7m increase due to the maintenance shutdowns in Q1-17 for the Foinaven and Banff FPSOs $4m increase from the commencement of the time-charter out contract for the Polar Spiri
Slide 9: Q1-17 Consolidated Adjusted Line Items
Q1-17 Consolidated Adjusted Line Items Income Statement Item As Reported Appendix A Reclassification As Adjusted Items (1) for Realized Gains/ Loss on Derivatives (2) Revenues 543,505 - 780 544,285 Vessel Operating Expenses (OPEX) (191,260) - 26 (191,234) General & Administrative Expenses (31,348) -
Slide 10: Bringing Energy to the World
BRINGING ENERGY TO E WORLD