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Mar 31, 2023
Williams Q1 2023 Earnings Report
Williams announced higher first-quarter results driven by strong performance across key financial metrics.
Key Takeaways
Williams reported strong first-quarter results with increased GAAP net income, adjusted net income, adjusted EBITDA, and cash flow from operations. The company experienced record natural gas gathering volumes and contracted capacity.
GAAP net income increased by 144% to $926 million, or $0.76 per diluted share.
Adjusted EBITDA rose by 19% to $1.795 billion.
Cash flow from operations grew by 40% to $1.514 billion.
Record gathering volumes reached 17.85 Bcf/d, up 18% from Q1 2022.
Williams
Williams
Williams Revenue by Segment
Revenue by Segment
Northeast G&P Revenue
CapyFin.comWest Revenue
CapyFin.comGas & NGL Marketing Services Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The company continues to expect 2023 Adjusted EBITDA between $6.4 billion and $6.8 billion. The company expects 2023 growth capex between $1.6 billion to $1.9 billion due to the acceleration of Transco's Regional Energy Access project. Importantly, Williams anticipates a leverage ratio midpoint of 3.65x, which will allow it to retain financial flexibility. The dividend was increased by 5.3% on an annualized basis to $1.79 in 2023 from $1.70 in 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income