Willams Narrows Loss, Williams Partners Swings to Profit
February 15 2017 - 6:01PM
Dow Jones News
By Anne Steele
Williams Cos. reported a narrower loss in the final quarter of
the year, while pipeline giant Williams Partners LP swung to a
profit, helped by lower costs.
Over all, Williams posted a loss of $15 million, or 2 cents a
share, compared with a year-earlier loss of $715 million, or 95
cents a share.
The comparable 2015 quarter was hurt by a $1.1 billion pretax
impairment of goodwill and $698 million of lower pretax impairments
of equity-method investments and other assets. The improvement was
also thanks to lower operating and maintenance and overhead
expenses and higher commodity margins.
Excluding certain items, adjusted per-share earnings from
continuing operations rose to 17 cents from a penny a year earlier.
Analysts polled by Thomson Reuters were looking for adjusted
per-share earnings of 18 cents.
Williams Partners, meanwhile, reported a profit of $145 million,
or 24 cents a share, compared with a year-earlier loss of $1.64
billion, or $2.68 a share.
Williams Partners backed its 2017 guidance for capital and
investment expenditures between $2.1 billion and $2.8 billion,
including $1.4 billion to $1.9 billion related to the expansion of
the Transco natural-gas pipeline system.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
February 15, 2017 17:46 ET (22:46 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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