Enbridge Inc. · TSX:ENB
Enbridge — Q3 2009 Earnings Presentation
10 slides from Enbridge's earnings presentation, Nov 4, 2009
Slide 1: Welcome: 2009 Third Quarter Financial Results
WELCOME 2009 Third Quarter Financial Results November 4, 2009 Patrick D. Daniel President and CEO J. Richard Bird Executive Vice President, CFO and Corporate Development 1
Slide 2: Outline
Outline • Strategic Update Patrick D. Daniel • Financial Results & Guidance J. Richard Bird • Question & Answer Period 2
Slide 3: Legal Notice
Legal Notice This presentation includes certain forward looking information (FLI) to provide Enbridge shareholders and potential investors with information about Enbridge and management’s assessment of its future plans and operations, which may not be appropriate for other purposes. FLI is typically
Slide 4: Overview
Overview Third Quarter Year to Date 2009 2008 2009 2008 Reported Earnings $304 M $148 M $1,255 M $1,057 M Per Share $0.83 $0.41 $3.45 $2.94 Adjusted Earnings $152 M $86 M $616 M $474 M Per Share $0.42 $0.24 $1.70 $1.32 • 30% year-over-year increase in adjusted earnings • Higher 2009 EPS Guidance ($2
Slide 5: Visible Growth Continues
Visible Growth Continues • Capital projects completed in 2009 – Line 4 Extension – Spearhead Capacity Expansion – Light Sour Crude Oil Pipeline – Southern Access Phase II – Enbridge Ontario Wind – Hardisty Storage • Commercially secured projects announced in Q3 – Walker Ridge Gas Gathering System –
Slide 6: Third Quarter Financial Results
Third Quarter Financial Results Reported Earnings Adjusted Earnings* ($ Millions) ($ Millions) Q3 $304 Q3 $148 Q2 $393 YTD Q3 $152 YTD Q2 $658 $1,255 Q3 $86 $1,057 Q2 $195 Q2 $150 YTD YTD $616 Q1 $558 $474 Q1 $239 Q1 $269 Q1 $251 2008 2009 2008 2009 ~30% EPS Growth EPS $2.94 $3.45 $1.32 $1.70 * Plea
Slide 7: Segmented Earnings Variance - 2009 vs. 2008
Segmented Earnings* Variance - 2009 vs. 2008 Third Quarter Year To Date Liquids Pipelines Gas Pipelines Sponsored Investments Gas Distribution & Services International Corporate ($50 MM) $0 $50 MM ($90 MM) $0 $90 MM $67 MM Consolidated $142 MM * Adjusted earnings. Please refer to Non-GAAP Measures d
Slide 8: 2009 EPS Guidance
2009 EPS Guidance* 2008 $1.85 $1.95 $1.88 2009 Original Guidance $2.18 $2.32 2009 Revised Guidance $2.30 $2.36 20%+ EPS Growth EPS Guidance Range Actual Achieved EPS * Adjusted Operating Earnings 8
Slide 9: Key Takeaways
Key Takeaways • Record Q3 profits • Increased guidance range due to strong 2009 results • Growth projects coming into service – on budget, on time • Adding commercially secured projects within all three business segments • Post 2009 EPS growth to average 10% per year, well into the next decade 9
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