This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Williams Partners Reports Second-Quarter 2013 Financial Results, Updates Guidance

Williams Partners L.P. (NYSE: WPZ):
Summary Financial Information     2Q     YTD

Amounts in millions, except per-unit and coverage ratio amounts. All income amounts attributable to Williams Partners L.P.
2013   2012 2013   2012
Net income $ 256 $ 243   $ 577 $ 651  
Net income per common L.P. unit $ 0.31 $ 0.29   $ 0.81 $ 1.11  
Distributable cash flow (DCF) (1) $ 387 $ 345 $ 884 $ 882
Less: Pre-partnership DCF (2)   0   (52 )   0   (114 )
DCF attributable to partnership operations $ 387 $ 293   $ 884 $ 768  
Cash distribution coverage ratio (1) .79x .79x .92x 1.04x
(1) Distributable Cash Flow and Cash Distribution Coverage Ratio are non-GAAP measures. Reconciliations to the most relevant measures included in GAAP are attached to this news release.
(2) This amount represents DCF from the Gulf Olefins assets during 1Q and 2Q 2012, since these periods were prior to the receipt of cash flows from the assets.

Williams Partners L.P. (NYSE: WPZ) today announced unaudited second-quarter 2013 net income attributable to Williams Partners L.P. of $256 million, or $0.31 per common limited-partner unit, compared with net income of $243 million, or $0.29 per common limited-partner unit for second-quarter 2012. Prior-period results throughout this release have been recast to include the results of the Geismar olefins production facility acquired from Williams in November 2012 and to reflect the revised segment reporting resulting from the organizational restructuring effective Jan. 1, 2013.

The increase in second-quarter net income was primarily due to an increase in transportation, gathering and processing fee revenues, higher olefin and marketing margins, and lower general and administrative expenses. Lower NGL margins and related ethane rejection substantially reduced net income for the current year quarter. NGL margins declined 44 percent from the second quarter of 2012 as continued low ethane prices drove system wide ethane rejection; propane and butane prices remained at depressed levels. Higher olefin sales prices during the quarter more than offset lower olefin sales volumes as a result of the Geismar incident.

1 of 12

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs