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.
Service revenues increased by $89 million YoY in Q2 2024, primarily due to recent acquisitions. However, total revenues decreased by $147 million YoY, indicating weakness in other revenue streams.
Net income attributable to The Williams Companies, Inc. decreased by $59 million YoY in Q2 2024 and $354 million YoY for the six months ended June 30, 2024, reflecting a significant decline in profitability.
Operating income decreased by $174 million YoY in Q2 2024, demonstrating that increased revenues are not translating into improved profitability. This suggests rising costs or other operational challenges.