What do the Numbers Say - Report on Williams Companies, Inc.
NEW YORK, September 10, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Williams Companies, Inc. (NYSE: WMB). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=WMB
Highlights from our WMB Report include:
- Second Quarter's Financial Highlights - On July 29, 2015, Williams Partners L.P. announced their financial results for the second quarter of 2015. The Company reported adjusted EBITDA (a non-GAAP measure) of $1.01 billion for the quarter as against reported figures of $717 million in the previous year second quarter to clock a growth of 41% on a y-o-y basis. The primary reason for the increase in adjusted EBITDA is due to the Access Midstream merger. Williams Partners reported unaudited Q2 net income attributable to controlling interests of $300 million vis-à-vis $221 million reported in Q2 2014.
- Segments Performance - The Company's Access Midstream segment reported adjusted EBITDA of $345 million during the second quarter compared to $275 million in Q2 2014. Williams Partners' results for second quarter of 2014, however, are on a pre-merger basis and exclude Access Midstream. The increase can be attributed to higher fee-based volumes in the Utica and Haynesville areas as well as the higher ownership in the Utica East Ohio Midstream joint venture. The Atlantic-Gulf segments reported an adjusted EBITDA amounting to $389 million for Q2 2015 vis-à-vis $270 million in Q2 2014. The increase was primarily due to higher fee-based revenues from the expansion projects of Gulfstar One and Transco. On the other hand, NGL & Petchem Services reported an adjusted EBITDA of $33 million as against $168 million for Q2 2014. The second quarter adjusted EBITDA included $138 million of assumed business interruption insurance proceeds. The Company's Northeast G&P segment generated adjusted EBITDA of $92 million for Q2 2015 as against $76 million in the last year quarter.
- Management Speak - Alan Armstrong, the CEO of Williams Partners' general partner said that the second quarter results further demonstrated the benefits from the Company's clearly defined strategy of capitalizing on the significant natural gas market growth by connecting the best supplies to the best markets. He added that this strategy has and will continue to deliver significant growth in the Company's fee-based revenues.
To find out how this influences our rating on Williams Companies, Inc. read the full report in its entirety here: http://www.aciassociation.com/?c=WMB
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