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Williams Reports Third-Quarter 2013 Financial Results, Updates Guidance

Williams (NYSE: WMB):
Quarterly Summary Financial Information     3Q 2013     3Q 2012

Per share amounts are reported on a diluted basis.
millions     per share millions     per share

All amounts are attributable to The Williams Companies, Inc.
Income from continuing operations $ 143 $ 0.20 $ 152 $ 0.25
Income (loss) from discontinued operations   (2 )   -     3  
Net income $ 141   $ 0.20   $ 155 $ 0.25
Adjusted income from continuing operations* $ 130   $ 0.19   $ 161 $ 0.25
Year-to-Date Summary Financial Information YTD 2013 YTD 2012
millions per share millions per share
Income from continuing operations $ 454 $ 0.66 $ 572 $ 0.93
Income (loss) from discontinued operations   (10 )   (0.01 )   138   0.22
Net income $ 444   $ 0.65   $ 710 $ 1.15
Adjusted income from continuing operations* $ 411   $ 0.60   $ 535 $ 0.86

* A schedule reconciling income from continuing operations to adjusted income from continuing operations (non-GAAP measures) is available at and as an attachment to this press release.

Williams (NYSE: WMB) announced unaudited third-quarter 2013 net income attributable to Williams of $141 million, or $0.20 per share on a diluted basis, compared with net income of $155 million, or $0.25 per share on a diluted basis for third-quarter 2012.

The decrease in third-quarter 2013 net income was primarily due to lower olefin margins from lost production at Williams Partners’ Geismar olefins plant. An increase in fee-based revenues at Williams Partners more than offset a decrease in natural gas liquids (NGL) margins driven by continued ethane rejection. Lower costs and initial insurance recoveries related to the Geismar incident also partially offset these negative impacts during the third quarter.

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