Williams(US:WMB)2022-08-26 14:26Financial Performance - Williams' Adjusted EBITDA for 2Q 2022 was $1.496 billion, a 14% increase compared to $1.317 billion in 2Q 2021[5] - Adjusted earnings per share for 2Q 2022 was $0.40, a 48% increase compared to $0.27 in 2Q 2021[6] - Available Funds From Operations (AFFO) increased by 19% from $1.948 billion to $2.320 billion[7] - Dividend coverage ratio (AFFO basis) increased by 18% from 1.85x to 2.19x[7] Guidance and Outlook - The company increased its 2022 Adjusted EBITDA guidance from a range of $5.6 billion - $6.0 billion to $6.1 billion - $6.4 billion[26] - Adjusted diluted EPS guidance increased from $1.29 - $1.54 to $1.59 - $1.76[25] - Growth CAPEX increased from $1.25 billion - $1.35 billion to $2.25 billion - $2.35 billion, primarily due to the Trace Midstream acquisition[29] Strategic Initiatives and Growth Projects - Williams closed the acquisition of Trace Midstream's Haynesville gathering system on April 29, 2022, for $933 million, increasing Williams' Haynesville gathering capacity from 1.8 Bcf/d to over 4 Bcf/d[42] - The company reached a final investment decision on the Louisiana Energy Gateway (LEG) project, a 1.8 Bcf/d gathering pipeline from the Haynesville to premium markets, expected to come online in late 2024[42] - Williams is executing on five Transco projects expected to bring over 1.2 Bcf/d of capacity online by 4Q 2024 and an additional ~600 MMcf/d of capacity online by 4Q 2025[42]