PBA FY 2019 Earnings Report — Pembina Pipeline Corporation Revenue & Financial Results | Market Cap Arena

Pembina Pipeline CorporationPBA

FY 2019 Earnings

Reported December 30, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$5.3B	—	$5.4B	—	-1.6%
Op. Income	$1.3B	—	$1.5B	—	-9.8%
Gross Margin	33.7%	—	31.7%	—	2.0pp
Net Margin	20.6%	—	17.4%	—	3.3pp
EPS (Diluted)	$1.96	—	$1.83	—	6.8%
Free Cash Flow	$648M	—	$753M	—	-13.9%

Revenue Flow

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$3.5B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$216M
SG&A Expenses	$216M
Other Expenses	$11M
Operating Expenses	$227M
Cost & Expenses	$3.7B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$174M
Other Income/Expenses	-$211M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$26M
NET INCOME	$1.1B
D&A	$376M
EBIT	$1.1B
EBITDA	$1.5B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$3.5B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$216M
SG&A Expenses	$216M
Other Expenses	$11M
Operating Expenses	$227M
Cost & Expenses	$3.7B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$174M
Other Income/Expenses	-$211M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$26M
NET INCOME	$1.1B
D&A	$376M
EBIT	$1.1B
EBITDA	$1.5B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$373M
Stock-Based Compensation	$48M
Deferred Income Tax	$26M
Other Non-Cash Items	$235M
Change in Working Capital	$77M
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$1.2B
Acquisitions (Net)	-$1.6B
Purchases of Investments	-$151M
Sales/Maturities of Investments	$151M
Other Investing Activities	-$37M
NET CASH FROM INVESTING	-$2.9B
Net Debt Issuance	$1.9B
Common Stock Repurchased	-$110M
Common Dividends Paid	-$967M
Other Financing Activities	$100M
NET CASH FROM FINANCING	$987M
FREE CASH FLOW	$648M
Net Change in Cash	-$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$94M
Short-Term Investments	$0
Net Receivables	$487M
Inventory	$92M
Other Current Assets	$29M
TOTAL CURRENT ASSETS	$721M
PP&E (Net)	$14.3B
Goodwill	$3.4B
Intangible Assets	$1.3B
Long-Term Investments	$4.4B
Tax Assets	$0
Other Non-Current Assets	$136M
TOTAL NON-CURRENT ASSETS	$23.5B
TOTAL ASSETS	$24.2B
Account Payables	$524M
Short-Term Debt	$54M
Deferred Revenue	$29M
Other Current Liabilities	$85M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$7.4B
Deferred Revenue NC	$140M
Deferred Tax Liabilities	$2.1B
Other Non-Current Liabilities	$762M
TOTAL NON-CURRENT LIABILITIES	$10.9B
TOTAL LIABILITIES	$12.0B
Common Stock	$11.4B
Additional Paid-In Capital	$0
Retained Earnings	-$1.4B
Treasury Stock	$0
Accum. Other Comp. Income	$72M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$12.2B
Minority Interest	$44M
TOTAL EQUITY	$12.3B
TOTAL LIABILITIES & EQUITY	$24.2B
Total Debt	$8.0B
Net Debt	$7.9B