Bank of America Investment Banking Pitch Book
Non-storm-related Services Revenue (¹)
5
$900
850
800
750
700
EBITDA
$90
85
80
75
70
85
$765
5
$771
$758
FY2014E
6
$77
$70
$74
FY2014E
Review of Projections
Pioneer Forecast vs. Wall Street Projections
Source: Pioneer Forecast and FactSet as of March 14, 2014.
Note: Dollars in millions. No analyst estimates atsilable past FY2015E
(2) Excludes New Opportunities revenue.
Pioneer Forecast
$845
$789
FY2015E
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$798
6
$88
FY2015E
$77
Storm-related Services Revenue
9
$75
85
55
45
35
25
$50
45
40
35
30
25
Wall Street Research Range
5
$81
$47
Capital Expenditures (Excl. Acquisitions)
2
$44
FY2014E
2
$43
$40
$30
FY2014E
5
# of Analysts Providing Estimates
$72
$50
FY2015E
$43
$40
$28
FY2015E
Bank of America
Merrill LynchView entire presentation