Williams Profit Tops Estimates

(RTTNews) - Williams Cos Inc (WMB), an energy infrastructure company, on Wednesday reported first-quarter net earnings of $70 million or $0.09 per share compared with $140 million or $0.20 per share last year.

Excluding items, adjusted earnings for the quarter were $0.16 per share compared with $0.28 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.15 per share for the quarter. Analysts' estimates typically exclude special items.

Results showed strong fee-based revenue growth for Williams Partners and we expect the second quarter to be even higher with Gulfstar One and Keathley Canyon Connector nearing full production and additional projects being placed in service, said CEO Alan Armstrong.

"We've reaffirmed 2015-2017 guidance, but we do expect 2015 adjusted EBITDA to be near the low end of the range due to the extended Geismar ramp-up and the effects of low commodity prices on volumes and margins," Armstrong added.