- Williams (NYSE:WMB): Q1 Non-GAAP EPS of $0.35 beats by $0.06; GAAP EPS of $0.35 beats by $0.05.
- Revenue of $2.61B (+36.6% Y/Y) beats by $640M.
- The company now expects 2021 Adjusted EBITDA between $5.2 billion and $5.4 billion and Available Funds from Operations between $3.7 billion and $3.9 billion, both a $100 million midpoint increase from guidance originally issued in February 2021. As well, the leverage ratio midpoint has been updated to ~4.2x versus ~4.25x prior for year-end 2021. The company is keeping intact 2021 growth capex guidance between $1 billion to $1.2 billion. Importantly, Williams expects to generate positive free cash flow (after capital expenditures and dividends), allowing it to retain financial flexibility.
- Press Release