Williams Cos.: 4Q Earnings Snapshot
TULSA, Okla. (AP) _ Williams Cos. (WMB) on Wednesday reported a fourth-quarter loss of $571 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Tulsa, Oklahoma-based company said it had a loss of 47 cents. Earnings, adjusted for non-recurring costs, came to 19 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The pipeline operator posted revenue of $2.2 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $2.53 billion.
For the year, the company reported a loss of $155 million, or 16 cents per share, swinging to a loss in the period. Revenue was reported as $8.69 billion.
Williams Cos. shares have climbed 22 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 10 percent. In the final minutes of trading on Wednesday, shares hit $27.01, a drop of slightly more than 9 percent in the last 12 months.