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Williams Companies (WMB) Earnings Beat Estimates in Q3
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Williams Companies Inc. (WMB - Free Report) , 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.
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 Companies (WMB) Earnings Beat Estimates in Q3
Williams Companies Inc. (WMB - Free Report) , 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
WILLIAMS COS Price and EPS Surprise | WILLIAMS COS Quote
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!
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand.Click to see them now>>