Williams Cos. (WMB) Tops Q1 EPS by 7c; Offers FY22 Guidance

Williams Cos. (NYSE: WMB) reported Q1 EPS of $0.41, $0.07 better than the analyst estimate of $0.34. Revenue for the quarter came in at $2.52 billion versus the consensus estimate of $2.98 billion.

The company now expects 2022 Adjusted EBITDA between $5.9 billion and $6.2 billion, a $250 million midpoint increase from guidance originally issued February 2022. The company now expects 2022 growth capital expenditures between $2.25 billion to $2.35 billion, a $1 billion midpoint increase from guidance originally issued February 2022 driven by the strategic acquisition of Trace Midstream assets. The company continues to expect maintenance capital expenditures between $650 million and $750 million, which includes capital for emissions reduction and modernization initiatives. Importantly, Williams anticipates achieving a leverage ratio midpoint of 3.8x, which along with expectations to generate positive free cash flow after dividends and capital expenditures (excluding Trace acquisition of approximately $950 million) will allow it to retain financial flexibility. Dividend guidance increased 3.7% on an annualized basis to $1.70 in 2022 from $1.64 in 2021.

For earnings history and earnings-related data on Williams Cos. (WMB) click here.

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