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Q3 2012 RESULTS – Williams Companies, Inc.

Williams Companies, Inc. · Oct 30, 2012 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2012 RESULTS – Williams Companies, Inc. – slide 1
    Third Quarter 2012 Earnings Alan Armstrong, Chief Executive Officer October 30, 2012 2012 The Williams Companies, Inc. All rights reserved.
  2. Q3 2012 RESULTS – Williams Companies, Inc. – slide 2
    Agenda Adjusted income from cont. ops. for 3Q up 17% over 2Q despite continued lower commodity price environment 3Q results reflect growth in fee-based business partially offset by Hurricane Isaac Updating 2013 and 2014 guidance…
  3. Q3 2012 RESULTS – Williams Companies, Inc. – slide 3
    Adjusted income up 17% over 2Q; growth in fee-based business offset by lower NGL margins, Isaac Growth in fee-based revenues continues 12% higher WPZ Midstream business fee-based revenues year-over-year in 3Q Growth in Marcellus…
  4. Q3 2012 RESULTS – Williams Companies, Inc. – slide 4
    Reaffirming strong cash dividend growth; lowering earnings guidance Continuing supercycle for natural gas infrastructure creates robust opportunities for Williams Visibility to diverse, attractive projects across all businesses…
  5. Q3 2012 RESULTS – Williams Companies, Inc. – slide 5
    Geismar dropdown gives WPZ robust MLP cash-flow generator Industry-leading IRS Private Geismar Segment Profit, DD&A and Capex Letter Ruling in hand (midpoint of guidance, dollars in millions) 2.36 B price financed primarily 600…
  6. Q3 2012 RESULTS – Williams Companies, Inc. – slide 6
    Geismar expansion, outlook drives step change in 2014 cash generation Drivers of 2014 expected step Ethylene prices, volumes, margins change in cash generation 2,000 0.80 600MM lb expansion expected on 1,800 line in late 2013 (one…
  7. Q3 2012 RESULTS – Williams Companies, Inc. – slide 7
    Geismar drop-down benefits both WMB and WPZ Williams Partners Expected net equity ethane position Immediately reduces WPZ's exposure to ethane by nearly 70% WMB WPZ* Eliminates WPZs long ethane position beginning in 4Q 2013…
  8. Q3 2012 RESULTS – Williams Companies, Inc. – slide 8
    Canadian business signs major new customer Long-term agreement with Canadian Natural Resources Limited (CNRL) Expected to add approximately 15 MBPD of NGL/Olefins production (12MBPD by mid-2015; growing to 15MBPD by 2018) Ethane…
  9. Q3 2012 RESULTS – Williams Companies, Inc. – slide 9
    New fee-based business; Acquiring pipelines to develop Gulf Coast petrochemicals infrastructure business Acquiring 12 idle pipelines from ExxonMobil in the Gulf Coast region Acquired pipelines will be combined with organic build-out…
  10. Q3 2012 RESULTS – Williams Companies, Inc. – slide 10
    Expect fee-based revenues to increase to 70% of business by 2013-2014 WMB total gross margin* 2013 Forecast 2014 Forecast 4.4 billion 5.1 billion Blues = Fee-based Greens = Commodity 0% 1% 5% 5% WPZ - Gas Pipeline 7% Demand…
  11. Q3 2012 RESULTS – Williams Companies, Inc. – slide 11
    Major 2012-2014 projects in guidance and on track; almost all are fee-based revenues Canada (MC&O) Boreal Pipeline in service (2Q) Ethane Recovery mid-year 13 CNRL Upgrader processing mid- Petchem Services (WPZ and MC&O) year 15…
  12. Q3 2012 RESULTS – Williams Companies, Inc. – slide 12
    Strong, clear dividend growth and excess cash flow guidance Cash Dividends per Share Growth Illustrative Excess Cash Flow 2010-2014 CAGR of 37%* Available & Coverage Ratio* (midpoint of guidance) (millions) 1,600 2.00 1,400 1.23x…
  13. Q3 2012 RESULTS – Williams Companies, Inc. – slide 13
    Premier energy-infrastructure investment Natural gas infrastructure supercycle continues; vast need for new infrastructure and large-scale service providers like Williams Deep, diverse, long-range set of growth opportunities Plan…
  14. Q3 2012 RESULTS – Williams Companies, Inc. – slide 14
    WMB Non-GAAP Reconciliations 2012 The Williams Companies, Inc. All rights reserved.
  15. Q3 2012 RESULTS – Williams Companies, Inc. – slide 15
    WMB Non-GAAP Reconciliations WMB non-GAAP reconciliation schedule Reconciliation of Income (Loss) from Continuing Operations Attributable to The Williams Companies, Inc. to Adjusted Income (UNAUDITED) 2011 2012 (Dollars in…
  16. Q3 2012 RESULTS – Williams Companies, Inc. – slide 16
    WMB Non-GAAP Reconciliations WMB non-GAAP reconciliation schedule cont. Adjustments below segment profit (loss) Early debt retirement costs - Corporate - - - 271 271 - - - - Gulf Liquids litigation contingency interest accrual…
  17. Q3 2012 RESULTS – Williams Companies, Inc. – slide 17
    WMB Non-GAAP Reconciliations 2012 forecast guidance reported to adjusted October 30 Dollars in millions Reported Adjustment Adjusted Low - High 1 Low - High Items Segment profit 1,924 - 2,174 (24) 1,900 - 2,150 Net interest…
  18. Q3 2012 RESULTS – Williams Companies, Inc. – slide 18
    WMB Non-GAAP Reconciliations Segment profit guidance reported to adjusted Dollars in millions 2012 Guidance 2013 Guidance 2014 Guidance Low Midpoint High Low Midpoint High Low Midpoint High Reported segment profit: Williams…
  19. Q3 2012 RESULTS – Williams Companies, Inc. – slide 19
    WMB Non-GAAP Reconciliations WMB 2012 schedule of adjustments (Dollars in millions) Segment Profit Adjustments: Wi l l i a ms Pa rtners (WPZ) Acqui s i ti on a nd tra ns i ti on-rel a ted cos ts 23 Los s rel a ted to Emi…
  20. Q3 2012 RESULTS – Williams Companies, Inc. – slide 20
    WMB Non-GAAP Reconciliations Reconciliation of forecasted reported income from continuing operations to adjusted income from continuing operations Dollars in millions 2012 Guidance 2013 Guidance 2014 Guidance Low Midpoint High…
  21. Q3 2012 RESULTS – Williams Companies, Inc. – slide 21
    WPZ Non-GAAP Reconciliations 2012 The Williams Companies, Inc. All rights reserved.
  22. Q3 2012 RESULTS – Williams Companies, Inc. – slide 22
    WPZ Non-GAAP Reconciliations Reconciliation of Non-GAAP distributable cash flow to GAAP net income 2011 2012 (Dollars in millions, except coverage ratios) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Williams…
  23. Q3 2012 RESULTS – Williams Companies, Inc. – slide 23
    WPZ Non-GAAP Reconciliations Adjusted segment profit reconciliation Reconciliation of GAAP Segment Profit to Non-GAAP Adjusted Segment Profit (UNAUDITED) 2011 2012 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st…
  24. Q3 2012 RESULTS – Williams Companies, Inc. – slide 24
    WPZ Non-GAAP Reconciliations Segment profit guidance reported to adjusted Dollars in millions 2012 Guidance 2013 Guidance 2014 Guidance Low Midpoint High Low Midpoint High Low Midpoint High Reported segment profit: Midstream…
  25. Q3 2012 RESULTS – Williams Companies, Inc. – slide 25
    WPZ Non-GAAP Reconciliations Net income & distributable cash flow Dollars in millions 2012 Guidance 2013 Guidance 2014 Guidance Low Midpoint High Low Midpoint High Low Midpoint High Net Income 1,080 1,130 1,180 1,440 1,605 1,770…

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