Williams Cos. ( NYSE: WMB ) +1.1% post-market Monday after beating expectations on Q3 adjusted earnings and revenues , and said it continues to expect full-year adjusted EBITDA near the high end of previously guidance of $6.1B-$6.4B.
Q3 net income jumped to $599M, or $0.49/share, from $164M, or $0.13/share, in the year-earlier quarter, reflecting the benefit of higher service revenues from commodity-based rates, higher Haynesville gathering volumes including the Trace Acquisition and the start of service of Transco's Leidy South project, higher results from upstream operations, as well as a $344M favorable change in net unrealized gains/losses on commodity derivatives.
Q3 cash flow from operations jumped 79% to $1.49B from $656M in the same period a year ago.
Williams ( WMB ) also maintained guidance for FY 2022 growth capital spending of $1.25B-$1.35B, which excludes ~$1.5B in total acquisitions and follow-on expenditures for Trace Midstream and NorTex Midstream assets, and reaffirmed maintenance capital spending guidance of $650M-$750M, which includes capital for emissions reduction and modernization initiatives.
The company anticipates achieving a net debt-to-adjusted EBITDA ratio of ~3.6x, below original guidance of 3.8x.
Williams' ( WMB ) stock price return shows a 23% YTD gain and a 14% increase during the past year .
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Williams sees full-year EBITDA near high end of guidance after strong Q3