Williams reports Q1 adjusted EPS 60c, consensus 55c

Reports Q1 revenue $3.05B, consensus $2.94B. Alan Armstrong, president and chief executive officer, made the following comments: “nce again, our base business drove higher earnings for the quarter with recently commissioned Transco projects contributing additional fee-based revenues while our consolidated Crowheart upstream operations also drove growth. As a result of our recent investment in Cogentrix Energy and the continued outperformance of our base business, we are raising our Adjusted EBITDA guidance midpoint by $50 million to $7.7 billion. Our team is executing on a string of high-return projects that will accelerate earnings growth throughout the balance of the year, while continuing to add significant projects to our backlog. Notably, we commercialized Socrates, our first Power Innovation project that will deliver speed-to-market solutions for growing AI demand in Ohio. In addition, we announced Transco’s Power Express expansion to serve the power-hungry Virginia market. We are encouraged by what we see on the data center opportunity front, and our acquisition of a minority interest in Cogentrix Energy will enhance our Sequent market intelligence and give us line of sight to how we can better serve the growing power markets with gas supply.”