Nisource Inc · NYSE:NI
Nisource — Q3 2010 Earnings Presentation
13 slides from Nisource's earnings presentation, Oct 29, 2010
Slide 1: Q3 2010 Earnings Supplemental Slides
INVESTMENT-DRIVEN GROWTH Q3 2010 Earnings Supplemental Slides October 29, 2010
Slide 2: Forward Looking Statements
Forward Looking Statements This document contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to various risks and uncertainties. The factors that could cause actual results to differ materially from the projections, forecast
Slide 3: Q3 2010 Financial Highlights
2010 Earnings Guidance Increased Q3 2010 Financial Highlights Non-GAAP Non-GAAP Q3 2010 * Q3 2009 * Change * Net Operating Earnings $10.3 $19.4 ($9.1) from Continuing Operations** Earnings Per Share $0.04 $0.07 ($0.3) Operating Earnings $109.9 $134.8 ($24.9) GAAP GAAP Q3 2010 * Q3 2009 * Change * In
Slide 4: Highlights: Successful $400 Million Equity Offering
Successful $400 Million Equity Offering Highlights • Positions NiSource to Establish ~$1B Infrastructure Investment Program • Maintains NiSource’s Key Financial Commitments – Stable Dividend – Investment Grade Credit Rating – Long-Term Growth at Upper End of 3-5% Range Building Investment-Driven Gro
Slide 5: NiSource Gas Distribution – Q3 2010 Highlights
Infrastructure Improvements Continue NiSource Gas Distribution – Q3 2010 Highlights* • Operating Earnings: $40.7M loss in 2010 vs. $30.0M loss in 2009 ** – Year-to-Date $229.9M vs. $214.8M in 2009 • Infrastructure, Regulatory Strategy Drive Revenue Increase of $8.5M • Operating Expenses Up $19.2M Du
Slide 6: NiSource Gas Transmission & Storage – Q3 2010 Highlights
Maximize Value from Existing Assets NiSource Gas Transmission & Storage – Q3 2010 Highlights* • Operating Earnings $76.4M in 2010 vs. $100.2M in 2009 ** – Year-to-Date $277.2M vs. $292.2M in 2009 • Decrease in Short-Term Services, Mineral Rights Leasing Reduce Revenues $7.8 • Planned Maintenance Cos
Slide 7: NiSource Electric Operations – Q3 2010 Highlights
Constructive Stakeholder Discussions NiSource Electric Operations – Q3 2010 Highlights* • Operating Earnings $80.0M in 2010 vs. $69.6M in 2009 ** – Year-to-Date $174.5M vs. $126.8M in 2009 • Industrial Margins, Off-System Sales Drive $17.4M Revenue Growth • Operating Expenses Up $7.0M From Increased
Slide 8: Q3 2010 Earnings – Key Takeaways
NiSource: A Compelling Investment Q3 2010 Earnings – Key Takeaways • Delivering Solid Financial Performance – 2010 Operating Earnings Guidance Increased: $1.20-$1.25 (non-GAAP) • Improved Financial Flexibility to Fund Infrastructure Growth Investments • Inventory of Marcellus-Area Projects Moving Fo
Slide 9: Appendix
APPENDIX Q3 2010 Earnings Supplemental Slides October 29, 2010
Slide 10: NiSource Strategic Framework
Position, Build & Grow NiSource NiSource Strategic Framework Aspiration North America’s Premier Regulated Energy Company Value Regulated, Infrastructure Proposition Investment-Driven Growth Plus: Secure, Attractive Dividend Strategic Approach Balanced Four-Part Plan • Gas Transmission & Storage Expa
Slide 11: Building Investment-Driven Growth
Industry-Leading Regulated Platform Building Investment-Driven Growth 25-Yr Fully 3+%/Yr. Low-Risk De-Risked Run-Rate Growth Growth Inventory Rates Ongoing Partially Low-Risk 3%/Yr. De-Risked Environmental Run-Rate Growth Rates Electric Compliance Programs Low-Risk Fully 4%-6%/Yr. Supply-Driven Grow
Slide 12: Current Liquidity ($M)
Current Liquidity ($M) Actual 9/30/10 Maturity Committed Credit Facility $1,500 Jul 2011 Less: Drawn on Credit Facility (578) Letters of Credit (1) (29) Add: Cash & Equivalents 11 Net Available Liquidity $904 (1) Includes $13.0M LC for Tawney Settlement Renew Revolver by March 2011 12
Slide 13: Key Path Forward Markers
Key Path Forward Markers 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 NiSource Finance Maturities: $692M NiSource Finance Revolver: $1.5B (Renewal / Expiration) Liquidity CPA A/R Facility: $75M Permanent Financing (Hardy / Millennium) Equity Issuance: $400M (24-month Forward Agreement) DRIP: $33M Columbi