Tulsa’s Williams companies announced its unaudited net income for the first three months of 2019 totaled $194 million, an increase of 28 percent or $42 million.
Net income per share was 16 cents, a drop of two cents while the adjusted income per share rose 16 percent reaching 22 cents.
The company had cash flow from operations of $775 million, or $81 million more. Adjusted EBITDA was $1216 billion, an increase of $81 million or 7 percent.
Alan Armstrong, president and chief executive officer, made the following comments:
“Our first-quarter 2019 performance produced strong results and solid execution while fortifying our balance sheet. Led by our Atlantic-Gulf and Northeast G&P segments, each showing EBITDA growth of more than 20%, our key financial metrics reflected year-over-year growth.”
He explained that two recent deleveraging transactions will result in a net of nearly $1.085 billion that the company will use for debt reduction and funding of the company’s extensive portfolio of growth capital.
“Importantly, we are raising our EPS and income guidance, maintaining our EBITDA and DCFall while lowering capital expenditures for this year. This is the result of the crisp execution of our portfolio optimization transactions and continued tight discipline around capital deployment.”
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