Company profile

Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Panhandle Eastern Pipe Line Co, Panhandle Eastern Pipe Line Co LLC, Panhandle Eastern Pipe Line Co LP
SEC CIK

Calendar

11 May 20
5 Jun 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 144M 146M 135M 139M
Net income 40M 33M 475M 31M
Net profit margin 27.78% 22.60% 352% 22.30%
Operating income 58M 62M 41M 52M
Net change in cash NaN NaN NaN -2M
Cash on hand NaN NaN NaN 2M
Cost of revenue NaN NaN NaN
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 578M 574M 480M 514M
Net income 589M 108M -45M -646M
Net profit margin 102% 18.82% -9.38% -126%
Operating income 231M 203M -266M -629M
Net change in cash NaN 18M -2M 1M
Cash on hand NaN 20M 2M 4M
Cost of revenue NaN 4M 3M 2M

Financial data from company earnings reports

Financial report summary

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Risks
  • The financial soundness of the Company’s customers could affect its business and operating results and the Company’s credit risk management may not be adequate to protect against customer risk.
  • The Company is controlled by ETO.
  • Some of our executive officers and directors face potential conflicts of interest in managing our business.
  • Our affiliates may compete with us.
  • The Company is subject to operating risks.
  • Terrorist attacks aimed at our facilities could adversely affect our business, results of operations, cash flows and financial condition.
  • Cybersecurity breaches and other disruptions could compromise our information and expose us to liability, which would cause our business and reputation to suffer.
  • Our operations could be disrupted if our information systems fail, causing increased expenses and loss of sales.
  • Security breaches and other disruptions could compromise our information and operations, and expose us to liability, which would cause our business and reputation to suffer.
  • The success of the pipeline business depends, in part, on factors beyond the Company’s control.
  • The expansion of the Company’s pipeline systems by constructing new facilities subjects the Company to construction and other risks that may adversely affect the financial results of the pipeline businesses.
  • The inability to continue to access lands owned by third parties could adversely affect the Company’s ability to operate and/or expand its pipeline and gathering and processing businesses.
  • Our interstate pipelines are subject to laws, regulations and policies governing the rates they are allowed to charge for their services, which may prevent us from fully recovering our costs.
  • Our interstate pipelines are subject to laws, regulations and policies governing terms and conditions of service, which could adversely affect our business and results of operations.
  • We may incur significant costs and liabilities resulting from performance of pipeline integrity programs and related repairs.
  • Federal, state and local jurisdictions may challenge the Company’s tax return positions.
  • The Company is subject to extensive federal, state and local laws and regulations regulating the environmental aspects of its business that may increase its costs of operations, expose it to environmental liabilities and require it to make material unbudgeted expenditures.
  • The adoption of climate change legislation or regulations restricting emissions of greenhouse gases could result in increased operating costs and reduced demand for the services we provide.
  • Additional deepwater drilling laws and regulations, delays in the processing and approval of drilling permits and exploration, development, oil spill-response and decommissioning plans, and other related developments may have a material adverse effect on our business, financial condition, or results of operations.
  • An impairment of goodwill and intangible assets could reduce our earnings.
  • The Company’s business could be affected adversely by union disputes and strikes or work stoppages by its unionized employees.
  • The costs of providing postretirement health care benefits and related funding requirements are subject to changes in other postretirement fund values and fluctuating actuarial assumptions and may have a material adverse effect on the Company’s financial results. In addition, the passage of the Health Care Reform Act in 2010 could significantly increase the cost of providing health care benefits for Company employees.
  • The Company’s business is highly regulated.
  • The pipeline business of the Company is subject to competition.
  • Substantial risks are involved in operating a natural gas pipeline system.
  • Fluctuations in energy commodity prices could adversely affect the business of the Company.
  • The pipeline business of the Company is dependent on a small number of customers for a significant percentage of its sales.
  • The success of the Company depends on the continued development of additional natural gas reserves in the vicinity of its facilities and its ability to access additional reserves to offset the natural decline from existing sources connected to its system.
  • The pipeline revenues of the Company are generated under contracts that must be renegotiated periodically.
  • CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Management Discussion
  • ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
  • The information in Item 2 has been prepared pursuant to the reduced disclosure format permitted by General Instruction H to Form 10-Q. Accordingly, this Item 2 includes only management’s narrative analysis of the results of operations and should be read in conjunction with (i) our historical consolidated financial statements and accompanying notes thereto included elsewhere in this Quarterly Report on Form 10-Q and (ii) our Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on February 21, 2020.
Content analysis ?
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Uncertain
Constraining
Legalese
Litigous
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H.S. sophomore Avg
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Proxies

No filings