Q3 2024 Williams Companies Inc Earnings Call Transcript
Key Points
- Williams Companies Inc (WMB) delivered a record quarter of adjusted EBITDA, driven by natural gas transportation expansions and Gulf Coast storage acquisition.
- The company raised its guidance midpoint for 2024 due to better-than-expected performance on growth projects and acquisitions.
- Williams Companies Inc (WMB) achieved a 22.9% return on invested capital from 2018 to 2023, nearly double the sector median.
- The company successfully placed Transco's Regional Energy Access into full service ahead of schedule and under budget.
- Williams Companies Inc (WMB) has a visible five-year EBITDA CAGR of over 7% at the midpoint of its 2025 guidance, without equity issuance and while improving credit metrics.
- The company faced a challenging natural gas price environment and impactful hurricane season.
- Adjusted EPS growth lagged behind adjusted EBITDA and AFFO growth due to a step-up in non-cash depreciation expense from recent acquisitions.
- The Northeast G&P business was flat year-over-year, impacted by volumetric underperformance in dry gas systems.
- Williams Companies Inc (WMB) experienced lower gathering volumes in the West due to temporary producer reductions in the dry gas Haynesville area.
- The company's upstream joint venture operations were down due to lower realized prices.
Good day, and welcome to Williams' third quarter 2024 earnings call. (Operator Instructions) As a reminder, this call may be recorded. I would now like to turn the call over to Danilo Juvane. Please go ahead.
Thank you, and good morning, everyone. Thank you for joining us and for your interest in the Williams' Companies. This morning, we released our earnings press release and the presentation that our President and CEO, Alan Armstrong, will kick off in a moment.
Also joining us on the call are John Porter, our Chief Financial Officer; Micheal Dunn, our Chief Operating Officer; and Chad Zamarin, our Executive Vice President of Corporate Strategic Development. In our presentation materials, you'll find the disclaimer related to forward-looking statements. This disclaimer is important and integral to our remarks, and you should review it.
Also included in our presentation materials are non-GAAP measures that we reconcile to generally accepted accounting principles. And
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
