Williams Lifts 2009 Earnings, Spending Outlooks

TULSA, Okla. (AP) — Natural gas provider Williams Companies, Inc. on Thursday raised its full-year profit estimate, increased its 2009 capital spending forecast and projected earnings growth through 2011.

The Tulsa, Okla.-based company said it raised the lower end of its 2009 profit estimate range to reflect improvements in the exploration & production and midstream results for the remainder of the year. Williams expects a full-year adjusted earnings between 75 cents per share and 90 cents per share. Analysts polled by Thomson Reuters expect full-year earnings of 88 cents per share.

The company raised its capital spending outlook to between $2.5 billion and $2.75 billion, which factors in the addition of $275 million related to newly acquired properties in the Piceance Basin.

Looking ahead, Williams projected 2010 and 2011 earnings to range between 80 cents per share and $1.90 per share and $1.10 per share and $2.65 per share, respectively. Analysts predict average earnings of $1.21 per share and $1.60 per share, respectively.

Shares of the company fell 8 cents to $17.04 in morning trading.