The company said net income attributable to The Williams Companies for the 6 months ended June 30, 2024 decreased $354 million from the same period a year earlier. It cited the Gulf Coast Storage acquisition in January 2024, the MountainWest acquisition in February 2023 and the DJ Basin acquisition in November 2023 as factors behind higher service revenues over the same period.

10-QQuarterly reportFiled Aug 5, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said net income attributable to The Williams Companies for the 6 months ended June 30, 2024 decreased $354 million from the same period a year earlier. It cited the Gulf Coast Storage acquisition in January 2024, the MountainWest acquisition in February 2023 and the DJ Basin acquisition in November 2023 as factors behind higher service revenues over the same period.
Williams Companies said it acquired a portfolio of natural gas storage facilities and pipelines in Louisiana and Mississippi from Hartree Partners LP on January 3, 2024 for $1.95 billion, and acquired the remaining 40% interest in Discovery for $170 million on August 1, 2024.
The company cited the acquisition of Gulf Coast Storage assets, which added $58 million, and a $20 million increase in Transco's revenues tied to the Regional Energy Access project as the drivers of higher service revenues in its Transmission & Gulf of Mexico segment in Q2 2024.
The company said it expects growth capital and investment expenditures, excluding acquisitions, of $1.45 billion to $1.75 billion in 2024. It also said that as of June 30, 2024, long-term debt maturing within 1 year(s) was about $1.536 billion.

Key figures

Quarter ended June 30, 2024

Revenue: $2.8B
Operating income: $696M
Net income: $401M
EPS: $0.33

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

2024 First-Half Net Income Decline and Higher Service Revenues

The company said net income attributable to The Williams Companies for the 6 months ended June 30, 2024 decreased $354 million from the same period a year earlier. It cited the Gulf Coast Storage acquisition in January 2024, the MountainWest acquisition in February 2023 and the DJ Basin acquisition in November 2023 as factors behind higher service revenues over the same period.

Source · Based on the MD&A text of the filing

Gulf Coast Storage Acquisition and Discovery Stake Purchase

Williams Companies said it acquired a portfolio of natural gas storage facilities and pipelines in Louisiana and Mississippi from Hartree Partners LP on January 3, 2024 for $1.95 billion, and acquired the remaining 40% interest in Discovery for $170 million on August 1, 2024.

Source · Based on the MD&A text of the filing

Transmission & Gulf of Mexico Service Revenues

The company cited the acquisition of Gulf Coast Storage assets, which added $58 million, and a $20 million increase in Transco's revenues tied to the Regional Energy Access project as the drivers of higher service revenues in its Transmission & Gulf of Mexico segment in Q2 2024.

Source · Based on the MD&A text of the filing

2024 Capital Expenditure Plan and Long-Term Debt Due Within 1 Years

The company said it expects growth capital and investment expenditures, excluding acquisitions, of $1.45 billion to $1.75 billion in 2024. It also said that as of June 30, 2024, long-term debt maturing within 1 year(s) was about $1.536 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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