Sector: Energy|Industry: Oil & Gas Midstream|Market Cap: $63.40B|Employees: 5.6K
The Williams Companies, Inc. is an energy infrastructure company focused on natural gas. They operate in 12 supply areas, providing natural gas gathering, processing, and transmission services, as well as NGL fractionation, transportation, and storage. The company owns and operates over 33,000 miles of pipelines and 35 processing facilities, serving over 700 customers across 24 states.
Net income attributable to The Williams Companies, Inc. decreased to $632 million for the three months ended March 31, 2024, compared to $927 million for the same period in 2023. This was driven by a decrease in total revenues and an increase in total costs and expenses.
Service revenues increased to $1,905 million for the three months ended March 31, 2024, compared to $1,694 million for the same period in 2023. This was driven by higher volumes from acquisitions and expansion projects.
Total costs and expenses increased to $1,759 million for the three months ended March 31, 2024, compared to $1,721 million for the same period in 2023. This increase, coupled with lower revenues, negatively impacted net income.