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Last $47.21 USD
Change Today +1.20 / 2.61%
Volume 8.0M
WMB On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

williams cos inc (WMB) Key Developments

The Williams Companies, Inc. Approves Amendments to By-Laws

On August 18, 2015, the Board of Directors of The Williams Companies, Inc. approved amendments to Article X of the company's By-laws, which became effective immediately, to align the company's By-law provisions related to the exclusive forum for certain legal actions with the Delaware Forum Legislation. In addition to certain technical and conforming amendments, the amendments to Article X of the By-laws add any additional actions asserting an internal corporate claim, as defined in the Delaware Forum Legislation, to the scope of claims subject to the Forum Provisions.

Spectra And Others Reportedly Plan Bidding For Williams Companies

Spectra Energy Corp. (NYSE:SE) is bidding to acquire whole of Williams Companies, Inc. (NYSE:WMB), people familiar with the matter said. Williams decided to put itself on the auction block after it rejected an all-stock acquisition proposal from Energy Transfer Equity, L.P. (NYSE:ETE) in June, 2015. Kinder Morgan, Inc. (NYSE:KMI) is also interested in acquiring Williams, but would face potential antitrust issues if it proceeded with a bid, the people added. Williams collected an initial round from prospective bidders in late July 2014, according to the people. Final bids for Williams are due the last week of August, 2015, the people said. Energy Transfer has hired at least eight investment banks that are now working on its bid, the people said. Williams has a market capitalization of around $38.5 billion. Wells Fargo is advising Spectra, the people said.

The Williams Companies, Inc. Reaffirms Dividend Guidance for the Third-Quarter 2015 and for the Year 2016

The Williams Companies, Inc. reaffirmed its previously announced plans to increase its third-quarter 2015 dividend to $0.64, or $2.56 on an annualized basis and $2.85 in 2016, with annual dividend growth thereafter of approximately 10% to 15% through 2020.

Williams Companies, Inc. Reports Unaudited Consolidated Earnings Result for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015 to 2018

Williams Companies, Inc. reported unaudited consolidated earnings result for the second quarter and six months ended June 30, 2015. Adjusted EBITDA of $1.02 billion, compared with $770 million in second quarter 2014, an increase of $247 million, or 32%. The increase reflects higher adjusted EBITDA for Williams Partners resulting from the benefit of the Access Midstream acquisition and new projects placed in service. Partially offsetting these increases were lower Geismar results from the absence of assumed business interruption insurance proceeds and lower NGL margins. Adjusted income from continuing operations of $110 million, or $0.15 per share, in second quarter 2015, compared with $158 million, or $0.23 per share, in second quarter 2014. The decrease in adjusted income for second quarter 2015 is due primarily to the absence in 2015 of assumed Geismar business interruption proceeds, increased interest expense associated with new debt issuances and higher depreciation expense due to significant projects that were placed into service in 2014 and 2015, as well as declines in NGL margins driven by lower prices. These decreases were partially offset by new fee revenues associated with certain growth projects that were placed in service in 2014 and 2015. Net income attributable to the company was $114 million, or $0.15 per share on a diluted basis, compared with second quarter 2014 net income of $103 million, or $0.15 per share on a diluted basis. The $11 million increase in net income attributable to Williams in second quarter 2015 was driven primarily by new fee-based revenues from Gulfstar One and Transco expansion projects and increased insurance recoveries associated with the Geismar incident. These increases were partially offset by increased interest expense associated with new debt issuances, higher depreciation expense due to significant projects that were placed in service in 2014 and 2015, as well as declines in NGL margins driven by lower prices. Total Modified EBITDA was $1,046 million against $648 million a year ago. Total revenues were $1,839 million against $1,678 million a year ago. Operating income was $392 million against $311 million a year ago. Income from continuing operations before income taxes was $266 million against $207 million a year ago. Income from continuing operations was $183 million or $0.15 per diluted share against $123 million or $0.14 per diluted a year ago. For the year-to-date 2015, the company reported $1.94 billion in adjusted EBITDA, a $344 million, or 22% increase from the same period last year. The increase in the year-to-date period was also driven primarily by Williams Partners’ adjusted EBITDA, and the drivers were similar to those discussed for the quarterly period. The company reported $232 million in adjusted income from continuing operations, a $116 million decrease from the same period last year. The decrease in year-to-date adjusted income was driven by the same factors that drove the decrease in quarterly adjusted income. Adjusted income from continuing operations per share was $0.31 against $0.50 a year ago. Net income was $184 million, or $0.24 per share on a diluted basis, compared with net income of $243 million, or $0.35 per share, for the same period last year. The year-to-date changes in net income were impacted by the same factors as the quarterly period with the exception of year-to-date Geismar insurance recoveries being lower in the current year and the absence of equity losses in 2014 associated with the discontinuance of the Bluegrass Pipeline project. For the year 2015, the company’s adjusted EBITDA expected to be in the rage of $4,130 million to $4,330 million and total capital & investment expenditures expected to be in the rage of $3,960 million to $4,590 million a year ago. For the year 2016, the company’s adjusted EBITDA expected to be in the rage of $5,170 million to $5,580 million and total capital & investment expenditures expected to be in the rage of $3,300 million to $3,910 million a year ago. For the year 2017, the company’s adjusted EBITDA expected to be in the rage of $5,825 million to $6,275 million and total capital & investment expenditures expected to be in the rage of $3,025 million to $3,625 million a year ago. For the year 2018, the company’s adjusted EBITDA expected to be in the rage of $6,500 million to $7,100 million and total capital & investment expenditures expected to be in the rage of $1,300 million to $1,600 million a year ago.

Williams Companies, Inc. to Report Q2, 2015 Results on Jul 30, 2015

Williams Companies, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 30, 2015

 

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Price/Earnings 16.8x
Price/Sales 4.4x
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TEV/Sales NM Not Meaningful
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