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Sep 30, 2024
Williams Q3 2024 Earnings Report
Williams announced record third-quarter results, driven by the strength of its base business.
Key Takeaways
Williams reported a strong third quarter with record Adjusted EBITDA of $1.703 billion, up 3% year-over-year. The company increased its full-year 2024 Adjusted EBITDA guidance midpoint by $125 million to $7.075 billion, reflecting confidence in its core business and project execution.
GAAP net income increased by 8% to $705 million, or $0.58 per diluted share.
Adjusted EBITDA reached a record $1.703 billion, a 3% increase compared to Q3 2023.
Cash flow from operations totaled $1.243 billion.
Dividend coverage ratio stood at 2.22x (AFFO basis).
Revenue by Segment
Forward Guidance
Williams expects 2024 Adjusted EBITDA between $7 billion and $7.150 billion. The company continues to expect 2024 growth capex between $1.45 billion and $1.75 billion and maintenance capex between $1.1 billion and $1.3 billion, which includes capital of $350 million for emissions reduction and modernization initiatives.
Positive Outlook
- Adjusted EBITDA guidance midpoint increased by $125 million to $7.075 billion.
- Growth capex expected between $1.45 billion and $1.75 billion.
- Maintenance capex expected between $1.1 billion and $1.3 billion.
- Includes capital of $350 million for emissions reduction and modernization initiatives.
- Anticipates a leverage ratio midpoint for 2024 of 3.80x.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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