Williams Lifts FY21 Outlook

(RTTNews) - Williams (WMB) Monday lifted its outlook for the full year 2021. The company now expects Adjusted EBITDA between $5.5 billion and $5.55 billion, a $325 million midpoint increase from guidance originally issued in February 2021.

The company also increased its Available Funds from Operations guidance to a range of $4.025 billion to $4.075 billion.

CEO Alan Armstrong said, "We achieved exceptional results in the third quarter with Adjusted EBITDA up 12% compared to the same period last year, driven by growth across our three major business segments including another quarter of record gas gathering and transmission volumes, increased revenues from transmission projects and favorable NGL marketing margins. Given our robust performance to date and continued strong fundamentals, we are raising our 2021 financial guidance midpoint for the second time this year to a level that is now 8% above our 2020 performance."

Previously, the company expected 2021 Adjusted EBITDA at the higher end of the guidance of $5.2 billion to $5.4 billion and Available Funds from Operations between $3.7 billion and $3.9 billion.