• Most Popular
  • Most Shared

UPDATE 2-Williams profit slides with natural gas prices

Thu Oct 29, 2009 8:56am EDT

Stocks

   

* Q3 adjusted EPS 25 cents; Wall St view 18 cents

Stocks  |  Energy

* Revenue down 10 pct to $2.1 billion

* Shares up 2.2 pct in premarket trade (Add details, forecast, share price)

NEW YORK, Oct 29 (Reuters) - Williams Cos Inc (WMB.N) reported lower third-quarter profit on Thursday as natural gas prices tumbled from last year's record levels, but it beat Wall Street expectations and raised its full-year earnings forecast.

The Tulsa, Oklahoma-based company said profit fell to $143 million, or 24 cents per share, from $366 million, or 62 cents per share, a year earlier.

Excluding one-time items, it earned 25 cents a share, topping the average Wall Street forecast of 19 cents, according to Thomson Reuters I/B/E/S.

Revenues fell 10 percent to $2.1 billion

It also raised its forecast for recurring adjusted earnings per share to a range of 95 cents to $1.00, from 75 cents to 90 cents. Analysts expect 88 cents.

Williams shares rose 2.2 percent in premarket trade to $18.65. (Reporting by Matt Daily; Editing by Lisa Von Ahn and John Wallace)



More from Reuters

Protestors wait outside the U.S. Capitol as the U.S. Senate prepares to vote on U.S. President Barack Obama's healthcare overhaul in Washington

States take aim to block plan

As the Congress once again rallies to pass healthcare reform legislation, momentum is growing in many states to pass laws to block the changes.   Full Article 

House Speaker Nancy Pelosi gestures as she addresses her weekly news conference with Capitol Hill reporters, March 19, 2010. REUTERS/Hyungwon Kang

Momentum on healthcare bill

Democratic leaders pushed undecided House members for support and voiced growing confidence they will win a close vote on the sweeping overhaul.  Full Article | Video 

 A campsite at a homeless tent city in Sacramento California March 15, 2009. REUTERS/ Max Whittaker
John Kemp:

Be careful what you wish for

The yuan debate is exposing dangerous illiteracy among policymakers: Despite the jobs boost for Americans, it would also cut our living standards. How?  Commentary