TULSA (dpa-AFX) - Williams Companies, Inc. (WMB) reported a fourth-quarter loss from continuing operations of $13 million or $0.02 per share, compared to profit of $151 million or $0.23 per share, last year. Adjusted income from continuing operations was $148 million or $0.22 per share, for the quarter.
On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.22 for the quarter. Analysts' estimates typically exclude special items.
The company said the decrease in its fourth-quarter 2013 net income was primarily due to Williams Partners' Geismar olefins plant being out of service for the entire fourth quarter and a decrease in NGL margins. The fourth quarter was also impacted by the previously mentioned $99 million of tax expense related to the planned Canadian dropdown. These declines were offset by an increase in fee-based revenues at Williams Partners and increased equity earnings from Access Midstream Partners.
The company continues to expect to increase the full-year dividend it pays shareholders by 20 percent in each 2014 and 2015 - to per-share amounts of $1.75 and $2.11, respectively. Williams' full-year dividend for 2013 was $1.44 per share.
The company expects its fiscal 2014 adjusted earnings per share in the range of $1.00 to $1.20. Analysts expect the company to report fiscal 2014 earnings per share of $1.14.
Williams Companies expects its fiscal 2015 adjusted earnings per share in the range of $1.35 to $1.65.
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