{"id":690385,"date":"2022-09-29T11:00:01","date_gmt":"2022-09-29T15:00:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/williams-reaffirms-earnings-guidance\/"},"modified":"2022-09-29T11:00:01","modified_gmt":"2022-09-29T15:00:01","slug":"williams-reaffirms-earnings-guidance","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/williams-reaffirms-earnings-guidance\/","title":{"rendered":"Williams Reaffirms Earnings Guidance"},"content":{"rendered":"

<\/p>\n

Williams Reaffirms Earnings Guidance<\/b><\/p>\n

TULSA, Okla.–(BUSINESS WIRE<\/a>)–
\nWilliams (NYSE: WMB) today announced that based on expected strong third-quarter performance and expectations for the fourth quarter, and despite recent market weakness, the company anticipates its full-year Adjusted EBITDA will be near the high end of its previously announced guidance range of $6.1 to $6.4 billion.\n<\/p>\n

\n\u201cAt Williams, we continue to execute on our natural gas focused strategy, which is delivering in the current environment and will continue to deliver substantial growth for the long-term,\u201d said Alan Armstrong, president and CEO. \u201cWe have built a business that is steady, predictable and durable through market cycles. As with prior volatile markets, Williams\u2019 performance remains resilient and is well positioned to thrive through the current macro-economic risks including inflation, higher interest rates and a potential recession.\u201d\n<\/p>\n

\nOn August 1, 2022, Williams raised the Adjusted EBITDA guidance for the second time since its original issuance in February 2022, driven by strong base business performance, increased volume outlook for upstream joint ventures and the benefit of higher commodity prices. Further information regarding the Adjusted EBITDA guidance range follows.\n<\/p>\n

Non-GAAP Measures<\/b><\/p>\n

\nThis news release refers to Adjusted EBITDA, which is a non-GAAP financial measure as defined under the rules of the SEC. Our segment performance measure, modified EBITDA, is defined as net income (loss) before income (loss) from discontinued operations, income tax expense, net interest expense, equity earnings from equity-method investments, other net investing income, impairments of equity investments and goodwill, depreciation and amortization expense, and accretion expense associated with asset retirement obligations for nonregulated operations. We also add our proportional ownership share (based on ownership interest) of modified EBITDA of equity-method investments.\n<\/p>\n

\nAdjusted EBITDA further excludes items of income or loss that we characterize as unrepresentative of our ongoing operations. Management believes this measure provides investors meaningful insight into results from ongoing operations.\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n

Reconciliation of Net Income (Loss) to Modified EBITDA and Non-GAAP Adjusted EBITDA<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/tr>\n
\n\n\n

\n2022 Guidance\n<\/p>\n<\/td>\n<\/tr>\n

\n

(Dollars in millions)<\/i><\/p>\n<\/td>\n

\n\n

\nLow\n<\/p>\n<\/td>\n

\n\n

\nMid\n<\/p>\n<\/td>\n

\n\n

\nHigh\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

Net income (loss)<\/b><\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1,754\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1,854\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1,954\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nProvision (benefit) for income taxes\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n400\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n450\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n500\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nInterest expense\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,145\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n<\/tr>\n
\n

\nEquity (earnings) losses\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(610\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n<\/tr>\n
\n

\nProportional Modified EBITDA of equity-method investments\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n960\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n<\/tr>\n
\n

\nDepreciation and amortization expenses and accretion for asset\n<\/p>\n

\nretirement obligations associated with nonregulated operations\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,075\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n<\/tr>\n
\n

\nOther\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n9\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n<\/tr>\n
\n

Modified EBITDA<\/b><\/p>\n<\/td>\n

\n\n

$<\/b><\/p>\n<\/td>\n

\n

5,733<\/b><\/p>\n<\/td>\n

\n\n

$<\/b><\/p>\n<\/td>\n

\n

5,883<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

$<\/b><\/p>\n<\/td>\n

\n

6,033<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

EBITDA Adjustments<\/b><\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n367\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n<\/tr>\n
\n

Adjusted EBITDA<\/b><\/p>\n<\/td>\n

\n\n

$<\/b><\/p>\n<\/td>\n

\n

6,100<\/b><\/p>\n<\/td>\n

\n\n

$<\/b><\/p>\n<\/td>\n

\n

6,250<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

$<\/b><\/p>\n<\/td>\n

\n

6,400<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

Forward-Looking Statements<\/i><\/b><\/p>\n

The reports, filings, and other public announcements of The Williams Companies, Inc. (Williams) may contain or incorporate by reference statements that do not directly or exclusively relate to historical facts. Such statements are \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act). These forward-looking statements relate to anticipated financial performance, management\u2019s plans and objectives for future operations, business prospects, outcome of regulatory proceedings, market conditions, and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995.<\/i><\/p>\n

All statements, other than statements of historical facts, included in this release that address activities, events, or developments that we expect, believe, or anticipate will exist or may occur in the future, are forward-looking statements. Forward-looking statements can be identified by various forms of words such as \u201canticipates,\u201d \u201cbelieves,\u201d \u201cseeks,\u201d \u201ccould,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201ccontinues,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cforecasts,\u201d \u201cintends,\u201d \u201cmight,\u201d \u201cgoals,\u201d \u201cobjectives,\u201d \u201ctargets,\u201d \u201cplanned,\u201d \u201cpotential,\u201d \u201cprojects,\u201d \u201cscheduled,\u201d \u201cwill,\u201d \u201cassumes,\u201d \u201cguidance,\u201d \u201coutlook,\u201d \u201cin-service date,\u201d or other similar expressions. These forward-looking statements are based on management\u2019s beliefs and assumptions and on information currently available to management and include, among others, statements regarding our earnings guidance and expected third and fourth quarter results.<\/i><\/p>\n

Forward-looking statements are based on numerous assumptions, uncertainties, and risks that could cause future events or results to be materially different from those stated or implied in this release. Many of the factors that will determine these results are beyond our ability to control or predict. Specific factors that could cause actual results to differ from results contemplated by the forward-looking statements include, among others, the following:<\/i><\/p>\n