Williams Companies Inc. (NYSE:WMB) , based in Tulsa, Oklahoma, is a premier energy infrastructure provider in North America. The company’s core operations include finding, producing, gathering, processing and transportation of natural gas.
Boasting of a widespread pipeline system, Williams is one of the largest domestic transporters of natural gas by volume. Its facilities – gas wells, pipelines, and midstream services – are concentrated in the Northwest, Rocky Mountains, Gulf Coast, and Eastern Seaboard.
Currently, Williams Companies has a Zacks Rank #3 (Hold) but that could change following its third quarter 2016 earnings report which has just released.
WILLIAMS COS Price and EPS Surprise
We have highlighted some of the key details from the just-released announcement below:
Earnings: The company reported adjusted earnings from continuing operations of 20 cents per share, surpassing the Zacks Consensus Estimate of 16 cents. However, the bottom line deteriorated from the prior-year figure of 22 cents per share.
Revenue: For the quarter ended Sep 30, 2016, Williams Companies reported revenues of $1,905 million. The top line missed the Zacks Consensus Estimate of $1,971 million but improved from the year-ago quarter level of $1,799 million.
Segmental Analysis
Williams Partners: This segment reported adjusted operating profit of $1,189 million in the quarter, up 8.1% from $1,100 million in the year-ago quarter. The upside was largely driven by a reduction in operating and maintenance and selling, general, and administrative expenses.
Williams NGL & Petchem Services: The unit incurred adjusted operating loss of $13 million, substantially wider than the year-ago quarter loss of $5 million. A significant rise in project development costs led to the underperformance.
Other: The segment posted adjusted operating profit of $16 million, which is higher than the the year-ago quarter profit of $8 million.
Check back later for our full write up on this Williams Companies earnings report later!
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WILLIAMS COS (WMB): Free Stock Analysis Report
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