NYSE$WMB
Williams Companies Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Williams reported higher results across key metrics, exceeding expectations and trending toward the higher end of previously increased 2021 financial guidance.
Williams announced strong second-quarter results with a 6% increase in Adjusted EBITDA, driven by record quarterly gas gathering volumes and successful execution of Transco expansion projects. The company is trending towards the higher end of its previously increased 2021 financial guidance.
- Net income of $304 million, or $0.25 per diluted share (EPS).
- Adjusted EPS of $0.27 per diluted share – up 8% from 2Q 2020.
- Adjusted EBITDA of $1.317 billion – up $77 million or 6% from 2Q 2020.
- Achieved record quarterly gathering volumes of 13.79 Bcf/d.
Headline financials
Revenue & EPS history
Williams · Revenue · Quarterly
$2.28B
Forward guidance
The company expects 2021 Adjusted EBITDA at the higher end of the previously increased guidance range of $5.2 billion to $5.4 billion and Available Funds from Operations between $3.7 billion and $3.9 billion. Moreover, the leverage ratio is expected to be less than the 4.2x midpoint for year-end 2021; growth capex is reaffirmed at $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.
Tailwinds
- Adjusted EBITDA expected at the higher end of the previously increased guidance range of $5.2 billion to $5.4 billion.
- Available Funds from Operations between $3.7 billion and $3.9 billion.
- Leverage ratio expected to be less than the 4.2x midpoint for year-end 2021.
- Growth capex reaffirmed at $1 billion to $1.2 billion.
- Expects to generate positive free cash flow after capital expenditures and dividends.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
+0.5%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+1.7%
Avg return
30 days after
56%
41 / 73 earnings
Positive
+11.6%
Q2 2020
Best reaction
-10.0%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.0% | -4.7% | -4.5% | |
| Q4 2025 | +1.5% | +6.5% | +8.4% | |
| Q3 2025 | -4.3% | +0.9% | +7.8% | |
| Q2 2025 | -2.1% | -3.9% | -4.4% | |
| Q1 2025 | -2.6% | -4.2% | +0.6% | |
| Q4 2024 | +4.8% | +5.4% | +4.5% | |
| Q3 2024 | +4.5% | +7.3% | +7.2% | |
| Q2 2024 | +1.5% | +2.5% | +5.3% | |
| Q1 2024 | +1.1% | +2.5% | +7.5% | |
| Q4 2023 | +0.4% | +0.8% | +8.7% | |
| Q3 2023 | +4.0% | +3.9% | +8.4% | |
| Q2 2023 | +1.0% | +1.1% | +1.7% | |
| Q1 2023 | -0.7% | +0.9% | +3.2% | |
| Q4 2022 | -1.5% | -0.3% | -8.4% | |
| Q3 2022 | +2.4% | +2.7% | +6.2% | |
| Q2 2022 | -3.6% | -5.5% | -0.2% | |
| Q1 2022 | +3.0% | +6.9% | +9.2% | |
| Q4 2021 | -0.4% | +3.6% | +10.4% | |
| Q3 2021 | +1.1% | +1.7% | -5.2% | |
| Q2 2021 | +0.3% | +0.0% | -1.6% | |
| Q1 2021 | +0.9% | +3.9% | +12.0% | |
| Q4 2020 | +5.3% | +0.9% | +3.8% | |
| Q3 2020 | -1.1% | -4.8% | +12.8% | |
| Q2 2020 | +11.6% | +9.0% | +11.2% | |
| Q1 2020 | +2.4% | +5.0% | +11.4% | |
| Q4 2019 | +2.6% | -5.1% | -46.3% | |
| Q3 2019 | -3.9% | +0.5% | -2.2% | |
| Q2 2019 | +2.0% | -5.0% | -5.7% | |
| Q1 2019 | -3.1% | -3.4% | -6.9% | |
| Q4 2018 | +0.5% | +2.0% | +3.1% | |
| Q3 2018 | +6.4% | +6.3% | +4.6% | |
| Q2 2018 | +4.1% | +5.3% | -0.5% | |
| Q1 2018 | +0.5% | +1.2% | +2.8% | |
| Q4 2017 | +0.7% | -2.9% | -8.6% | |
| Q3 2017 | -1.4% | +1.0% | +2.8% | |
| Q2 2017 | -2.1% | -2.2% | -5.2% | |
| Q1 2017 | -2.6% | +1.0% | -4.8% | |
| Q4 2016 | -3.1% | -2.4% | -1.1% | |
| Q3 2016 | -3.7% | -3.6% | +3.5% | |
| Q2 2016 | -0.0% | +6.9% | +16.6% | |
| Q1 2016 | +6.1% | — | — | |
| Q4 2015 | +6.1% | — | — | |
| Q3 2015 | +2.2% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2015 | -1.4% | — | — | |
| Q4 2014 | -0.5% | — | — | |
| Q3 2014 | +1.8% | — | — | |
| Q2 2014 | -2.5% | — | — | |
| Q1 2014 | +2.5% | — | — | |
| Q4 2013 | +3.6% | — | — | |
| Q3 2013 | -4.2% | — | — | |
| Q2 2013 | +6.8% | — | — | |
| Q1 2013 | -4.6% | — | — | |
| Q4 2012 | -3.9% | — | — | |
| Q3 2012 | -3.2% | — | — | |
| Q2 2012 | -2.7% | — | — | |
| Q1 2012 | +4.9% | — | — | |
| Q4 2011 | +2.6% | — | — | |
| Q3 2011 | +5.7% | — | — | |
| Q2 2011 | -10.0% | — | — | |
| Q1 2011 | -0.5% | — | — | |
| Q4 2007 | +2.1% | — | — | |
| Q4 2010 | +2.1% | — | — | |
| Q3 2010 | +3.9% | — | — | |
| Q2 2010 | -0.1% | — | — | |
| Q1 2009 | -9.8% | — | — | |
| Q1 2010 | +1.1% | — | — | |
| Q4 2009 | +1.5% | — | — | |
| Q3 2009 | +3.3% | — | — | |
| Q3 2008 | +3.3% | — | — | |
| Q4 2008 | -2.7% | — | — | |
| Q2 2009 | -2.7% | — | — | |
| Q2 2008 | -2.7% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro