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Williams 1Q Profit Rises 32%; Williams Partners 1Q Earnings Up 13%

DOW JONES NEWSWIRES Williams Cos.'s (WMB) first-quarter earnings rose 32%, mostly on gains related to the sale of former assets in Venezuela, while midstream and interstate gas-pipeline asset-holder Williams Partners LP's (WPZ) first-quarter profit increased 13%. However, Williams Partners common units were down 2.8% at $54.84 in after-hours trading as earnings missed expectations. Williams shares were down 2 cents to $32.94 in after-hours trading. Pipeline companies in the U.S. are undergoing a wave of acquisitions and expansion as they seek to adapt to the new geography of energy production brought about by shale production. Williams Partners last month unveiled a $2.5 billion deal to acquire Caiman Eastern Midstream LLC, which has midstream facilities in the Marcellus Shale, a major unconventional shale-energy field that underlies several Northeastern states. Williams reported a profit of $423 million, or 70 cents a share, up from $321 million, or 54 cents a share, a year earlier. Excluding the asset-sale gains and other items, earnings from continuing operations were up at 39 cents from 28 cents. Revenue increased 6.7% to $1.69 billion. Analysts polled by Thomson Reuters most recently projected earnings of 36 cents on revenue of $1.95 billion. Williams Partners reported a profit of $348 million, or 85 cents a unit, up from $307 million, or 81 cents a unit, a year earlier. Analysts expected earnings of 90 cents. The company said the growth was mostly due to improved fee-based revenue at its midstream and gas pipeline businesses as well as stronger natural-gas liquids margins. Williams last year opted against an initial public offering of its exploration and production business, instead opting for a spinoff of a public company, named WPX Energy Inc. (WPX), which was completed early this year. WPX plans to report its first-quarter financial results May 3. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Williams (WMB)
DateTimeHeadline
06/27/201617:18:54Filing of Certain Prospectuses and Communications in Connection...
06/27/201617:18:28Filing of Certain Prospectuses and Communications in Connection...
06/27/201617:01:00Williams Files Appeal to Close Energy Transfer Merger
06/27/201616:15:04Current Report Filing (8-k)
06/27/201615:25:00Williams Stockholders Approve Merger Transaction with ETE...
06/27/201613:40:00Williams Holders Vote for Cash in Energy Transfer Deal
06/27/201612:32:00Correction to Williams, Energy Transfer Story
06/27/201610:38:00Williams Shareholders Opt for ETE Deal
06/27/201609:35:05Additional Proxy Soliciting Materials (definitive) (defa14a)
06/27/201609:15:00Williams Announces Preliminary Stockholder Merger Consideration...
06/27/201606:04:57Additional Proxy Soliciting Materials (definitive) (defa14a)
06/27/201606:04:55Additional Proxy Soliciting Materials (definitive) (defa14a)
06/27/201603:03:00Williams Cos. Fights to Save Deal -- WSJ
06/26/201620:40:00Williams Cos. Fights to Save Deal
06/26/201620:08:00Williams Cos. Fights to Save Deal With Energy Transfer
06/25/201603:03:00Court Sinks Pipeline Deal -- WSJ
06/24/201621:32:00Energy Transfer Can Escape Williams Takeover, Judge Rules...
06/24/201618:26:00Energy Transfer Can Escape Williams Takeover, Judge Rules--Update
06/24/201617:49:00Williams Committed to Closing; Will Take Appropriate Actions...
06/24/201617:40:00Energy Transfer Can Escape Williams Takeover, Judge Rules

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