August 24, 2016 7:00 PM ET

Gas Utilities

Company Overview of Questar Corporation

Company Overview

Questar Corporation operates as an integrated natural gas company in the United States. It distributes natural gas as a public utility in Utah, southwestern Wyoming, and a small portion of southeastern Idaho serving 990,381 sales and transportation customers; and owns and operates distribution systems comprising 28,782 miles of street mains, service lines, and interconnecting pipelines, as well as has long-term franchises granted by communities and counties in its service area. The company also develops, produces, and delivers natural gas from its properties located in the Rocky Mountain region, primarily in the Vermillion, Pinedale, Moxa Arch, and Uinta Basin producing fields; produces and ...

333 South State Street

PO Box 45433

Salt Lake City, UT 84145

United States

Founded in 1922

1,759 Employees

Phone:

801-324-5900

Key Executives for Questar Corporation

Chairman, Chief Executive Officer, President, Chairman of Questar Gas, Chief Executive Officer of Wexpro and President of Wexpro
Age: 63
Total Annual Compensation: $820.8K
Executive Vice President and President of Questar Pipeline
Age: 50
Total Annual Compensation: $690.4K
Executive Vice President and President of Questar Gas
Age: 52
Total Annual Compensation: $374.1K
Chief Financial Officer and Executive Vice President (Leave of Absence)
Age: 43
Total Annual Compensation: $390.6K
Compensation as of Fiscal Year 2015.

Questar Corporation Key Developments

Questar Corporation Announces Preliminary Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

Questar Corporation announced preliminary unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported total revenues of $174.1 million compared with $199.3 million for the same period a year ago. Operating income was $64.4 million compared with $75.3 million for the same period a year ago. Income before tax was $50.9 million compared with $62.0 million for the same period a year ago. Net income was $33.1 million or $0.19 per diluted share compared with $40.6 million or $0.23 per diluted share for the same period a year ago. Adjusted earnings were $35.4 million, or $0.20 per adjusted diluted share, compared to second quarter of 2015 net income of $40.6 million, or $0.23 per diluted share. Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) for the quarter were $126.5 million compared to $130.1 million in the year-ago period. For the six months, the company reported total revenues of $630.4 million compared with $627.9 million for the same period a year ago. Operating income was $200.1 million compared with $222.3 million for the same period a year ago. Income before tax was $172.8 million compared with $195.4 million for the same period a year ago. Net income was $111.6 million or $0.64 per diluted share compared with $125.2 million or $0.71 per diluted share for the same period a year ago. Net cash provided by operating activities was $444.9 million compared with $301.2 million for the same period a year ago. Property, plant and equipment purchased was $146.2 million compared with $127.3 million for the same period a year ago.

Questar Corporation Declares Quarterly Common Stock Cash Dividend Payable on September 12, 2016

The board of directors of Questar Corporation approved a $0.22 (22 cents) quarterly common stock cash dividend. The dividend, payable on September 12, 2016, to shareholders of record on August 19, 2016, is the same as the previous quarter.

Questar Corporation Announces Executive Changes

On July 7, 2016, Questar Corporation announced that its Chief Financial Officer, Kevin W. Hadlock, is taking a leave of absence for personal reasons, effective immediately. The company has appointed David M. Curtis, company's Vice President and Corporate Controller, to serve as the company's Acting Chief Financial Officer (principal financial officer) while Mr. Hadlock remains on leave. Currently, the company is in the process of completing a merger with a subsidiary of Dominion Resources Inc., subject to regulatory approval. Upon the closing of the Merger, Mr. Curtis will assume the role of corporate controller of the surviving company and Mr. Hadlock plans to leave the company. Mr. Curtis has served as the company's Vice President and Corporate Controller since 2011.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 1, 2016
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