EXHIBIT 99.1

News Release
Williams (NYSE: WMB)
One Williams Center
Tulsa, OK 74172
800-Williams
www.williams.com
wmb_image1a08.jpg
 
 

DATE: Aug. 1, 2018
MEDIA CONTACT:
INVESTOR CONTACTS:
 
 
Keith Isbell
(918) 573-7308
John Porter
(918) 573-0797
Paul Schroedter (918) 573-9673
 

Williams Reports Second Quarter 2018 Financial Results

TULSA, Okla. – Williams (NYSE: WMB) today announced its financial results for the three and six months ended June 30, 2018.
Second-Quarter 2018 Highlights
2Q 2018 Net Income of $135 Million, Up $54 Million over 2Q 2017
2Q 2018 Adjusted income per share of $0.17; Up 31% over 2Q 2017
2Q 2018 Adjusted EBITDA of $1.11 Billion
Williams Partners' Transco Transportation Revenues Up $50 Million in 2Q 2018; Up $114 Million Year-to-Date or 16% - Driven by Big 5 Expansion Projects Placed In Service in 2017 as well as Mainline Service on Atlantic Sunrise in 2018
Williams Board Recommends Approval of Williams Merger with WPZ
Williams Summary Financial Information

2Q
 
YTD
Amounts in millions, except per-share amounts. Per share amounts are reported on a diluted basis. All amounts are attributable to The Williams Companies, Inc.

2018
2017
 
2018
2017
 
 
 
 
 
 
GAAP Measures
 
 
 
 
 
Cash Flow from Operations

$891


$799

 

$1,585


$1,526

Net income (loss)

$135


$81

 

$287


$454

Net income (loss) per share

$0.16


$0.10

 

$0.35


$0.55

 
 
 
 
 
 
Non-GAAP Measures (1)
 
 
 
 
 
Adjusted income

$143


$108

 

$302


$227

Adjusted income per share

$0.17


$0.13

 

$0.36


$0.27

Adjusted EBITDA

$1,110


$1,113

 

$2,245


$2,258

Cash Flow available for Dividends and other uses

$375


$360

 

$746


$740

Dividend Coverage Ratio
1.33
x
1.45
x
 
1.33
x
1.49
x
 
 
 
 
 
 
(1) Schedules reconciling adjusted income from continuing operations, adjusted EBITDA, Cash Available for Dividends and Dividend Coverage Ratio (non-GAAP measures) are available at www.williams.com and as an attachment to this news release.
Second-Quarter 2018 Financial Results
Williams reported unaudited second-quarter 2018 net income attributable to Williams of $135 million, an increase of $54 million from second-quarter 2017. The favorable change was driven primarily by a $32 million increase in operating income due primarily to an increase in service revenues and NGL margins partially offset by the absence of $25 million of operating income earned in second-quarter 2017 by our former olefins operations. Other Investing Income for the quarter was favorably impacted by a $62 million gain on the deconsolidation of Williams Partners' interests in the Jackalope Gas Gathering System. Partially offsetting the improvements were $66 million

1

The following information was filed by Williams Companies Inc (WMB) on Wednesday, August 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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