Williams Partners (WPZ) Misses Q3 EPS by 4c, Offers Guidance

Williams Partners (NYSE: WPZ) reported Q3 EPS of $0.15, $0.04 worse than the analyst estimate of $0.19.

Guidance

Williams Partners’ current guidance for earnings, cash flow and capital expenditures are unchanged from guidance issued in July 2014; however, this guidance does not reflect the effects of the merger agreement announced Oct. 26, 2014.

Key elements of the merged MLP’s financial guidance were disclosed along with the merger announcement and are as follows:

2015 adjusted EBITDA of approximately $5 billion.
Pay regular cash distribution in 1Q 2015 in the amount of $0.85 per unit (assuming that the merger closes before the distribution record date).
Cash distribution per limited partner unit for 2015 of $3.65.
Best-in-class 10 to 12 percent annual distribution growth in each of 2016 and 2017 and strong growth beyond.
Distribution coverage is expected to be at or above 1.1x or an aggregate of $1.1 billion of excess cash flow through 2017.
Strong investment-grade credit ratings with limited equity needs in current business plan.

For earnings history and earnings-related data on Williams Partners (WPZ) click here.

You May Also Be Interested In

• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance
• Boston Omaha Corporation (BOC) Misses Q2 EPS by 2c
• Kodiak Sciences Inc. (KOD) Misses Q2 EPS by 7c