Williams Companies Q1 Profit Declines - Quick Facts

(RTTNews) - Williams Companies, Inc. (WMB) reported a first-quarter net income of $140 million or $0.20 per share, compared to $161 million or $0.23 per share, last year.

Adjusted income from continuing operations was $190 million or $0.28 per share, up from $152 million or $0.22 per share in the comparable quarter last year.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.26 for the quarter. Analysts' estimates typically exclude special items.

The decline in net income during first-quarter 2014 was primarily due to $86 million of charges related to the proposed Bluegrass Pipeline project primarily reflecting the write-off of development costs that were previously capitalized and other costs that were incurred or accrued during the first quarter. At Williams Partners, increases in fee-based revenues more than offset lower natural gas liquids or NGL margins.

The company continues to expect to increase the full-year dividend it pays shareholders by 20 percent in each 2014 and 2015 - to per-share amounts of $1.75 and $2.11, respectively. Williams' full-year dividend for 2013 was $1.44 per share.

The company continues to expect its fiscal 2014 adjusted earnings per share to be in the range of $1.00 to $1.20. Analysts expect the company to report fiscal 2014 earnings per share of $1.10.

Williams Companies expects its fiscal 2015 adjusted earnings per share in the range of $1.35 to $1.65. Analysts now expect earnings of $1.48 per share in fiscal 2015.