Based in Tulsa, Oklahoma, The Williams Companies, Inc. (WMB) is a leading energy infrastructure company focused on natural gas processing and transportation. With a market cap of $53.63 billion, Williams is recognized for its extensive network of pipelines and facilities that ensure reliable energy delivery across North America. The company is set to announce its fiscal Q2 earnings results after the market closes on Monday, Aug. 5.
Ahead of the event, analysts expect WMB to report a profit of $0.39 per share, down 7.1% from $0.42 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Williams Companies' adjusted earnings of $0.59 per share for the last quarter surpassed the consensus estimate by 20.4%. The earnings beat was driven by effective cost management and increased natural gas volumes.
For fiscal 2024, analysts expect WMB to report EPS of $1.86, up 2.6% from $1.91 in fiscal 2023.
WMB stock is up 26.3% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 15.4% gains and the VanEck Energy Income ETF’s (EINC) 20.6% returns over the same time frame.
WMB reported its Q1 results on May 6. The company’s adjusted EBITDA increased 7.7% year over year to $1.93 billion. For 2024, WMB expects adjusted EBITDA at the top half of its guidance range of between $6.8 billion and $7.1 billion. Following the release of these results, the stock gained marginally in the next trading session and has maintained an uptrend since then.
The consensus opinion on WMB stock is optimistic, with an overall “Moderate Buy” rating. Out of 21 analysts covering the stock, nine advise a “Strong Buy” rating, two suggest a “Moderate Buy” rating, nine recommend a “Hold,” and one advises “Strong Sell.”
This configuration is slightly more bullish than three months ago when the stock had seven “Strong Buy” ratings. WMB's average analyst price target is $42.53, which indicates that the stock trades at a premium.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
