Williams Companies Earnings Cheat Sheet: Income Rises

S&P 500 (NYSE:SPY) component Williams Companies Inc (NYSE:WMB) reported net income above Wall Street’s expectations for the second quarter. Williams Companies, Inc. is engaged in finding, producing, gathering, processing and transporting natural gas.

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Williams Companies Inc Earnings Cheat Sheet for the Second Quarter

Results: Net income for the oil and gas company rose to $338 million (91 cents per unit) vs. $240 million (66 cents per unit) in the same quarter a year earlier. This marks a rise of 41% from the year earlier quarter.

Actual vs. Wall St. Expectations: The mean estimate for WMB was 38 cents per share.

Quoting Management: “Williams Partners performed exceptionally well in the second quarter, as we delivered strong growth in both distributable cash flow and earnings,” said Alan Armstrong, chief executive officer of Williams Partners’ general partner. “Per-unit NGL margins remain strong, and as expected NGL volume growth recovered significantly from the first quarter. We also saw higher fee-based revenue in the quarter that was the result of recent growth projects, including expansions in the Marcellus Shale, Piceance Basin and Gulf of Mexico,” Armstrong said. “And we continue to work on numerous expansion projects in both the gas pipeline and midstream businesses.”

Competitors to Watch: Williams Partners L.P. (NYSE:WPZ), EQT Corporation (NYSE:EQT), Marathon Oil Corporation (NYSE:MRO), Cheniere Energy, Inc. (AMEX:LNG), Chevron Corporation (NYSE:CVX), Southwestern Energy Co. (NYSE:SWN), Kinder Morgan Energy Partners LP (NYSE:KMP), Occidental Petroleum Corp. (NYSE:OXY), Southern Union Company (NYSE:SUG), and Questar Corporation (NYSE:STR).

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(Source: Xignite Financials)