Summary
Williams Companies, Inc. (WMB) reported revenues of $2.041 billion for the three months ended June 30, 2019, a slight decrease from $2.091 billion in the prior year period. Net income attributable to The Williams Companies, Inc. for the quarter increased significantly to $310 million, or $0.26 per diluted share, compared to $135 million, or $0.16 per diluted share, in the same period of 2018. This improvement was largely driven by increased service revenues, particularly from Transco expansion projects and the consolidation of UEOM, alongside a gain on the sale of an equity-method investment. For the six-month period ended June 30, 2019, total revenues were $4.095 billion, down from $4.179 billion in the prior year. However, net income attributable to The Williams Companies, Inc. surged to $505 million from $287 million in the comparable period of 2018. The company continued to execute strategic growth initiatives, including the acquisition of the remaining interest in UEOM and the sale of its interest in Jackalope, contributing to overall financial performance. Despite some segment-specific headwinds like lower commodity margins in the West segment, the company's focus on fee-based businesses and expansion projects on Transco is expected to support continued growth and shareholder returns.
Financial Highlights
49 data points| Revenue | $2.04B |
| SG&A Expenses | $152.00M |
| Operating Expenses | $1.54B |
| Operating Income | $498.00M |
| Interest Expense | $296.00M |
| Net Income | $310.00M |
| EPS (Basic) | $0.26 |
| EPS (Diluted) | $0.26 |
| Shares Outstanding (Basic) | 1.21B |
| Shares Outstanding (Diluted) | 1.21B |
Key Highlights
- 1Net income attributable to common stockholders for Q2 2019 was $310 million, a substantial increase from $135 million in Q2 2018.
- 2Diluted EPS for Q2 2019 was $0.26, up from $0.16 in Q2 2018.
- 3The company completed the acquisition of the remaining 38% interest in UEOM for $740 million in March 2019, leading to its consolidation.
- 4Williams Companies sold its 50% interest in Jackalope in April 2019 for $485 million, resulting in a gain of $122 million.
- 5Service revenues increased by 11% year-over-year for the quarter, primarily driven by Transco expansion projects and higher volumes at Susquehanna Supply Hub.
- 6Modified EBITDA for the Northeast G&P segment increased to $303 million from $255 million in the prior year quarter.
- 7Despite overall revenue decline for the six-month period, net income attributable to common stockholders increased significantly to $505 million from $287 million.