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4Q and FY 2019 Earnings Presentation – Williams Companies, Inc.

Williams Companies, Inc. · Feb 20, 2020 · 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. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 1
    NYSE: WMB www.williams.com Williams 4th Quarter and Full-Year 2019 Earnings Call February 20, 2020
  2. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 2
    Establishing all-time highs in 2019 Record Record Record Record Contracted Adjusted Distributable Gathered Transmission EBITDA Cash Flow Volumes Capacity 5.02 B 3.30 B 12.9 Bcf/d1 21.5 Bcf/d2 Initial 19 Guidance Initial 19…
  3. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 3
    Focused on improving key performance metrics Return on Capital Employed1 Operating Margin %2 Adjusted EPS (17 19) (17 19) (17 19) 13% 4% 25% CAGR CAGR CAGR Total Recordable Debt-to-Adjusted Incident Rate3 EBITDA4 (17…
  4. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 4
    Strong 4Q and full-year 2019 results Significant Financial Performance 4Q 4Q % Full-year Full-year % Improvement Across Key Metrics 2019 2018 Change 2019 2018 Change Cash Flow from Operations 991 962 3% 3,693 3,293 12% Adjusted…
  5. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 5
    WMB fourth quarter results up 7% WMB ADJUSTED EBITDA (MM): 4Q 2018 VS. 4Q 2019 ADJUSTED EBITDA DRIVERS3 1,300 60 (4) ATLANTIC-GULF 570 MM, up 8%: (5) 1,284 Increased revenues driven primarily by West 2 Other Gulf Connector and…
  6. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 6
    WMB full-year 2019 results up 8% WMB Adjusted EBITDA (MM): Full-year 18 vs. Full-year 19 ADJUSTED EBITDA DRIVERS3 5,200 213 (88) ATLANTIC-GULF 2,300 MM, up 20%: Barnett2 (17) 5,015 Increased revenues driven primarily by 5,000 West…
  7. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 7
    Key investor focus areas GATHERING & 2020 FINANCIAL TRANSMISSION & PROCESSING GUIDANCE GULF OF MEXICO Record gathered volumes in 2019 Reaffirming 2020 financial Transco rate case settled: guidance ranges provided at 2019 76 million…
  8. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 8
    Appendix WILLIAMS 2020 The Williams Companies, Inc. All rights reserved. NYSE: WMB I Williams 4th Quarter & Full-year 2019 Earnings Call 2/20/2020 I www.williams.com 7
  9. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 9
    Williams assets are well-positioned to serve natural gas volumes WILLIAMS 2020 The Williams Companies, Inc. All rights reserved. NYSE: WMB I Williams 4th Quarter & Full-year 2019 Earnings Call 2/20/2020 I www.williams.com 8
  10. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 10
    Stable WMB sequential quarter results WMB Adjusted EBITDA (MM): 3Q 2019 vs. 4Q 2019 ADJUSTED EBITDA DRIVERS 1,300 ATLANTIC-GULF 570 MM, down 7%: 23 (6) Decrease due to absence of Transco rate 1,284 case settlement recognized in 3Q but…
  11. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 11
    Recent accomplishments Achieved record levels of Adjusted EBITDA, Distributable Cash Flow, gathered Record Performance natural gas volumes and contracted transmission capacity at close of 2019 Environmental Joined The Environmental…
  12. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 12
    Significant Transmission growth opportunities PROJECTS IN EXECUTION 3.2B Target Current Markets Project In-service Status* Served Hillabee Ph. 2 2Q 20 Mechanically Complete Power demand in Florida Res/Com & Power demand in Mid-…
  13. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 13
    Consistently delivering on our promises 2019 RESULTS EXCEED GUIDANCE MIDPOINTS In Billions except for percentages, ratios and per share amounts 2019 GUIDANCE Reported Adjusted Diluted EPS1 0.99 1.07 0.71 0.83 0.95 Reported…
  14. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 14
    Williams reaffirms 2020 Guidance ranges FINANCIAL METRIC 2020 GUIDANCE Adjusted Net Income1 1.160 - 1.460 Bn Adjusted Diluted EPS1 0.95 - 1.20 Adjusted EBITDA 4.950 - 5.250 Bn Distributable Cash Flow (DCF) 3.050 - 3.450 Bn DCF…
  15. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 15
    Excess cash generation enhances shareholder value 2019 2020 Guidance Jackalope & NE 0.54 B JV Net Proceeds1 0.10 B 1.09 B Total Capital Total Distributable Expenditures2 Distributable Capital Cash Flow (Growth +Maintenance)…
  16. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 16
    2020 DCF per share vs. Adjusted EPS Earnings Per Share (EPS) Includes Large Non-cash Charges 3.50 0.10 (1.44) 1.44 0.41 ARO Accretion Amortization (0.03) 3.00 Add Back: (0.27) Noncontrolling 2.67 Interests Difference Add Back:…
  17. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 17
    Forward Looking Statements WILLIAMS 2020 The Williams Companies, Inc. All rights reserved. NYSE: WMB I Williams 4th Quarter & Full-year 2019 Earnings Call 2/20/2020 I www.williams.com 16
  18. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 18
    Forward-looking statements (contd) Risks related to financing, including restrictions stemming from debt agreements, future changes in credit ratings as determined by nationally recognized credit rating agencies, and the availability…
  19. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 19
    Non-GAAP Reconciliations WILLIAMS 2020 The Williams Companies, Inc. All rights reserved. NYSE: WMB I Williams 4th Quarter & Full-year 2019 Earnings Call 2/20/2020 I www.williams.com 20
  20. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 20
    Reconciliation of Income (Loss) Attributable to The Williams Companies, Inc. to Adjusted Income 2018 2019 (Dollars in millions, except per-share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Income…
  21. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 21
    Reconciliation of Income (Loss) Attributable to The Williams Companies, Inc. to Adjusted Income (cont) 2018 2019 (Dollars in millions, except per-share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year…
  22. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 22
    Reconciliation of Net Income to Non-GAAP Modified EBITDA, Adjusted EBITDA and Distributable Cash Flow 2018 2019 (Dollars in millions, except coverage ratios) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year…
  23. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 23
    Reconciliation of Modified EBITDA to Non-GAAP Adjusted EBITDA 2018 2019 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Net income (loss) 270 269 200 (546) 193 214 324 242 (66) 714…
  24. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 24
    Reconciliation of Net Income to Modified EBITDA, Non-GAAP Adjusted EBITDA and Distributable Cash Flow 2020 Guidance (Dollars in millions, except per share amounts and coverage ratio) Low Mid High Net income (loss) 1,200 1,350 1,500…
  25. 4Q and FY 2019 Earnings Presentation – Williams Companies, Inc. – slide 25
    Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted Income Available to Common Stockholders 2020 Guidance (Dollars in millions, except per-share amounts) Low Mid High Net income (loss) 1,200 1,350 1,500 Less: Net income…

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