Williams Posts First-Quarter 2014 Financial Results
Proquest LLC |
Williams has announced unaudited first-quarter 2014 net income attributable to Williams of
In a release on
Adjusted income from continuing operations was
The
Adjusted income from continuing operations reflects the removal of items considered unrepresentative of ongoing operations and is a non-GAAP measure.
"From an execution perspective, we completed or made significant progress on several large-scale projects in the first quarter. We added a second fractionator to our
"We're excited about the accelerating pace of expansion projects at
"We believe the Bluegrass Pipeline project remains the best long- term solution in the marketplace for transporting NGLs from the northeast to the
"Our strong performance, steadfast execution and constantly growing business opportunities give us confidence in our continuing expectation to grow adjusted segment profit plus DD&A by 50 percent in 2015 versus 2013 with minimal
Williams' business segments for financial reporting are
The
For first-quarter 2014,
WPZ raised its first-quarter cash distribution by 1.3 percent compared to the prior quarter. There is a more detailed description of
As previously mentioned, following the dropdown of Williams' currently operational Canadian assets to
Williams NGL & Petchem Services reported segment loss of
The decline in segment profit during first quarter was primarily due to charges of
The first-quarter 2014 segment profit of
ACMP raised its first-quarter cash distribution by 3.6 percent compared to the prior quarter.
Recent Operational Achievements
Northeast G&P
Atlantic-Gulf
In the deepwater
In the
Timely expansions to the
West
NGL & Petchem Services
The assumed expanded plant restart date and repair cost estimate are subject to various uncertainties and risks that could cause the actual results to be materially different from these assumptions. The assumed property damage and business interruption insurance proceeds are also subject to various uncertainties and risks that could cause the actual results to be materially different from these assumptions.
Capital expenditures for Williams included in guidance for 2014 and 2015 have been decreased by approximately
Williams is removing the proposed Bluegrass project from its financial guidance and will focus current capital expenditures on the large portfolio of investment opportunities where the returns are more attractive relative to risks.
More information:
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