PBA FY 2018 Earnings Report — Pembina Pipeline Corporation Revenue & Financial Results | Market Cap Arena

Pembina Pipeline CorporationPBA

FY 2018 Earnings

Reported December 30, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$5.4B	—	$4.0B	—	35.9%
Op. Income	$1.5B	—	$890M	—	65.9%
Gross Margin	31.7%	—	27.4%	—	4.3pp
Net Margin	17.4%	—	16.5%	—	0.9pp
EPS (Diluted)	$1.83	—	$1.36	—	34.9%
Free Cash Flow	$753M	—	-$238M	—	416.0%

Revenue Flow

Item	Amount
REVENUE	$5.4B
Cost of Revenue	$3.7B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$204M
SG&A Expenses	$204M
Other Expenses	-$200M
Operating Expenses	$224M
Cost & Expenses	$3.9B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$209M
Other Income/Expenses	-$204M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$339M
NET INCOME	$934M
D&A	$314M
EBIT	$1.5B
EBITDA	$1.8B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$5.4B
Cost of Revenue	$3.7B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$204M
SG&A Expenses	$204M
Other Expenses	-$200M
Operating Expenses	$224M
Cost & Expenses	$3.9B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$209M
Other Income/Expenses	-$204M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$339M
NET INCOME	$934M
D&A	$314M
EBIT	$1.5B
EBITDA	$1.8B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$934M
Depreciation & Amortization	$305M
Stock-Based Compensation	$46M
Deferred Income Tax	$339M
Other Non-Cash Items	$86M
Change in Working Capital	-$61M
OPERATING CASH FLOW	$1.6B
Capital Expenditure	-$896M
Acquisitions (Net)	-$42M
Purchases of Investments	-$42M
Sales/Maturities of Investments	$0
Other Investing Activities	-$20M
NET CASH FROM INVESTING	-$958M
Net Debt Issuance	$50M
Common Stock Repurchased	$0
Common Dividends Paid	-$911M
Other Financing Activities	$39M
NET CASH FROM FINANCING	-$823M
FREE CASH FLOW	$753M
Net Change in Cash	-$120M

Balance Sheet

Item	Amount
Cash & Equivalents	$115M
Short-Term Investments	$0
Net Receivables	$365M
Inventory	$145M
Other Current Assets	$104M
TOTAL CURRENT ASSETS	$740M
PP&E (Net)	$10.8B
Goodwill	$2.8B
Intangible Assets	$388M
Long-Term Investments	$4.7B
Tax Assets	$99M
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$18.7B
TOTAL ASSETS	$19.5B
Account Payables	$379M
Short-Term Debt	$351M
Deferred Revenue	$27M
Other Current Liabilities	$283M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$5.1B
Deferred Revenue NC	$96M
Deferred Tax Liabilities	$2.0B
Other Non-Current Liabilities	$590M
TOTAL NON-CURRENT LIABILITIES	$7.9B
TOTAL LIABILITIES	$9.0B
Common Stock	$10.0B
Additional Paid-In Capital	$0
Retained Earnings	-$1.5B
Treasury Stock	$0
Accum. Other Comp. Income	$232M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.5B
Minority Interest	$44M
TOTAL EQUITY	$10.5B
TOTAL LIABILITIES & EQUITY	$19.5B
Total Debt	$5.5B
Net Debt	$5.4B