Tulsa’s Williams Cos. will announce its second-quarter 2020 financial results next month.
The company will release the information after the close of markets on Monday, Aug. 3. Its leaders will hold an earnings conference call and webcast with analysts and investors on the following morning at 8:30 central time.
The question will be how the company’s bottom line has been affected by the COVID-19 pandemic. Williams reported a net loss of $518 million at the end of the first quarter of the year on March 31. It resulted in a net loss of 43-cents per diluted share which included a net non-cash impairment impact of $824 million.
But the company also reported a 4% increase in adjusted EBITDA to $1.26 billion and a 2% increase in cash flow from operations to $787 million. This came after Williams also undertook a 45% reduction in capital investments which was down $233 million from the first quarter of 2019.
Alan Armstrong, president and CEO said at the time the first quarter results were in line with expectations.
“Now more than ever, our focus on connecting the best natural gas supplies to the best markets is proving to be the right strategy,” he said. ” Despite the fact that we could see some near-term shut-in risks in oil-directed areas, our business remains stable, and we continue to execute on our portfolio of transmission growth projects.”