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Williams Partners (WPZ) Q1 Earnings Beat, Revenues on Par
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Williams Partners L.P. reported first-quarter 2017 earnings of 68 cents per limited partner unit, which handily beat the Zacks Consensus Estimate of 35 cents. The company had inured a loss of 25 cents per limited partner unit in the prior-year quarter. The improvement was mainly driven by lower selling, general and administrative expenses as well as lesser product costs.
Quarterly total revenue increased 19.9% year over year to $1.98 billion from $1.65 billion. The top line met the Zacks Consensus Estimate of $1.98 billion.
Williams Partners' distributable cash flow (DCF) attributable to partnership operations in the reported quarter was $752 million as against $739 million in the year-ago quarter. Recently, the partnership announced a regular quarterly cash distribution of 60 cents per unit.
Segment Performance
Consolidated adjusted segment profit was $1,117.0 million, up 5.4% from the year-ago level of $1,060.0 million.
Northeast G&P: The segment reported profits of $227 million as against $225 million in first-quarter 2016. The improvement was primarily driven by lower selling, general and administrative expenses.
Atlantic-Gulf: The segment reported profits of $453 million compared with $405 million in the year-ago quarter. This was primarily due to higher transportation fee revenues from offshore expansion projects completed during 2016 and new Transco projects - Rock Springs and Gulf Trace.
West: Segmental profit was $389 million as against $400 million a year ago. The decrease was due to lower fee revenues from the Barnett shale owing to lower volumes.
NGL & Petchem Services: The segment reported profits of $49 million compared with $30 million in the year-earlier quarter.
Williams Partners LP Price, Consensus and EPS Surprise
Williams Partners carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are SunCoke Energy, Inc. (SXC - Free Report) , Enerplus Corporation (ERF - Free Report) and Bellatrix Exploration Ltd. . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SunCoke Energy posted a positive earnings surprise of 120.0% in the preceding quarter. The company beat estimates in two of the four trailing quarters with an average negative earnings surprise of 35.78%.
Enerplus Corporation posted a positive earnings surprise of 66.67% in the preceding year quarter.
Bellatrix Exploration posted a positive earnings surprise of 240.00% in the preceding quarter. It surpassed estimates in three of the four trailing quarters with an average positive earnings surprise of 58.54%.
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Williams Partners (WPZ) Q1 Earnings Beat, Revenues on Par
Williams Partners L.P. reported first-quarter 2017 earnings of 68 cents per limited partner unit, which handily beat the Zacks Consensus Estimate of 35 cents. The company had inured a loss of 25 cents per limited partner unit in the prior-year quarter. The improvement was mainly driven by lower selling, general and administrative expenses as well as lesser product costs.
Quarterly total revenue increased 19.9% year over year to $1.98 billion from $1.65 billion. The top line met the Zacks Consensus Estimate of $1.98 billion.
Williams Partners' distributable cash flow (DCF) attributable to partnership operations in the reported quarter was $752 million as against $739 million in the year-ago quarter. Recently, the partnership announced a regular quarterly cash distribution of 60 cents per unit.
Segment Performance
Consolidated adjusted segment profit was $1,117.0 million, up 5.4% from the year-ago level of $1,060.0 million.
Northeast G&P: The segment reported profits of $227 million as against $225 million in first-quarter 2016. The improvement was primarily driven by lower selling, general and administrative expenses.
Atlantic-Gulf: The segment reported profits of $453 million compared with $405 million in the year-ago quarter. This was primarily due to higher transportation fee revenues from offshore expansion projects completed during 2016 and new Transco projects - Rock Springs and Gulf Trace.
West: Segmental profit was $389 million as against $400 million a year ago. The decrease was due to lower fee revenues from the Barnett shale owing to lower volumes.
NGL & Petchem Services: The segment reported profits of $49 million compared with $30 million in the year-earlier quarter.
Williams Partners LP Price, Consensus and EPS Surprise
Williams Partners LP Price, Consensus and EPS Surprise | Williams Partners LP Quote
Zacks Rank
Williams Partners carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are SunCoke Energy, Inc. (SXC - Free Report) , Enerplus Corporation (ERF - Free Report) and Bellatrix Exploration Ltd. . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SunCoke Energy posted a positive earnings surprise of 120.0% in the preceding quarter. The company beat estimates in two of the four trailing quarters with an average negative earnings surprise of 35.78%.
Enerplus Corporation posted a positive earnings surprise of 66.67% in the preceding year quarter.
Bellatrix Exploration posted a positive earnings surprise of 240.00% in the preceding quarter. It surpassed estimates in three of the four trailing quarters with an average positive earnings surprise of 58.54%.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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