Williams reports 2Q15 financial results

Financial updates

• 2Q15 adjusted EBITDA is US$1.02 billion; up 32% vs. 2Q14.
• Williams Partners fee-based revenues up US$537 million or 72% on access midstream merger, major projects ramping up.
• Excluding access midstream merger, Williams Partners 2Q15 fee-based revenue up US$130 million, or 17%.
• Reaffirming Williams’ dividend guidance of US$0.64 per share in 3Q15, or US$2.56 annualised – US$2.85 in 2016 with 10 - 15% annual dividend growth through 2020.

Williams has announced its second-quarter 2015 adjusted EBITDA of US$1.02 billion, compared with US$770 million in its second quarter of 2014; an increase of US$247 million, or 32%.

The increase reflects higher adjusted EBITDA for Williams Partners, resulting from the benefit of the Access Midstream acquisition and the 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.

Year-to-date 2015, Williams reported US$1.94 billion in adjusted EBITDA – a US$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.

Edited from press release by Stephanie Roker

Read the article online at: https://www.worldpipelines.com/business-news/31072015/williams-reports-2q15-financial-results/