Williams Companies Inc Earnings: Beats Expectations
S&P 500 (NYSE:SPY) component Williams Companies Inc (NYSE:WMB) reported net income above Wall Street’s expectations for the first quarter. Williams Companies is engaged in finding, producing, gathering, processing and transporting natural gas.
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Williams Companies Inc Earnings Cheat Sheet for the First Quarter
Results: Net income for the oil production/pipelines rose to $423 million (71 cents per share) vs. $321 million (54 cents per share) in the same quarter a year earlier. This marks a rise of 31.8% from the year-earlier quarter.
Actual vs. Wall St. Expectations: Williams Companies Inc beat the mean analyst estimate of 36 cents per share.
After two quarters of falling short, the company beat estimates last quarter. In the fourth quarter of the last fiscal year, it missed the mark by 5 cents, and in the third quarter of the last fiscal year, it came in under estimates by one cent.
After sitting in the red the quarter before, the company reported a profit last quarter. The company booked a net loss of $272 million, or 46 cents per share, in the third quarter of the last fiscal year.
Looking Forward: For the next quarter, analysts are growing pessimistic about the company’s expected results. The average estimate for the second quarter is 35 cents per share, dropping from 36 cents a month ago. The average estimate for the fiscal year is $1.46 per share, down from $1.57 ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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