Williams Cos. Posts Higher 3Q Profit, Revenue on Service Revenue Growth

Dow Jones06:34

Williams Cos. profit and revenue rose on an increase in the company's main service revenue.

The energy infrastructure company logged a third-quarter profit of $699 million, or 56 cents a share, compared with $646 million, or 53 cents a share, the prior year.

On an adjusted basis, per-share earnings matched the 54 cents analysts polled by FactSet expected.

Revenue rose to $3.22 billion from $2.92 billion. Wall Street analysts expected $2.99 billion.

The company's service revenue increased to $2.3 billion from $2.1 billion, reflecting new power generation revenues, projects placed in service and the company's acquisition of Momentum Midstream.

Williams Cos. said it's tracking towards the upper-half of its full-year guidance for adjusted earnings before interest, taxes, depreciation and amortization of $8.3 billion to $8.5 billion.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment