Home / Knowledge / News / Textiles / Williams Partners Q2 net income reaches $232mn
Williams Partners Q2 net income reaches $232mn
31
Jul '14
Williams Partners L.P. announced $504 million in distributable cash flow (DCF) attributable to partnership operations in second-quarter 2014, compared with $387 million in DCF attributable to partnership operations in second-quarter 2013.
 
Highlights:
-Distributable Cash Flow (DCF) From Partnership's Operations Is $504 Million, Up 30% vs. Year-Ago
-Adjusted Segment Profit + DD&A is $719 Million, Up 16% vs. Year-Ago
-2Q 2014 Net Income Is $232 Million or $0.11 per Common Unit
-Geismar Rebuild & Expansion Substantially Complete; Safety-System Upgrades Pushing Startup to 4Q 2014, Lowering 2014 Financial Guidance as a Result
-Continue to Expect More Than 68% Growth in DCF for 2016 vs. 2013
-Partnership Reaffirms Guidance for LP per Unit Distribution Growth of Approximately 6% Annually at Mid-Point 2014, 2015 and 4.5% at Mid-Point 2016, While Growing Cash -Distribution Coverage
-Williams Partners' Conflicts Committee Evaluating Proposed Merger with Access Midstream Partners
 
The $117 million increase in DCF for the quarter was driven by $46 million, or 7 percent, growth in fee-based revenues compared with second-quarter 2013, as well as $52 million in higher Geismar results. The Geismar plant remained off-line for the quarter; however, assumed business interruption insurance proceeds for the second quarter totaled $138 million and were included in the calculation of DCF. Additionally, second-quarter 2014 DCF was favorably affected by $23 million in DCF from the Canadian asset dropdown in 2014.
 
The partnership reported year-to-date DCF of $1.086 billion, compared with $884 million year-to-date 2013. The $202 million increase in year-to-date DCF was driven by $109 million, or 8 percent, growth in fee-based revenues compared with year-to-date 2013, as well as $113 million in higher Geismar results, which include the favorable impacts of assumed business interruption insurance.
 
For second-quarter 2014, Williams Partners generated $719 million in adjusted segment profit + DD&A, compared with $619 million in second-quarter 2013. The $100 million increase in second-quarter adjusted segment profit + DD&A was driven primarily by the same factors that drove the favorable increase in DCF detailed above.
 
Year-to-date adjusted segment profit + DD&A was $1.490 billion, compared with $1.303 billion year-to-date 2013. The $187 million increase in year-to-date adjusted segment profit + DD&A was driven primarily by the same factors that drove the favorable increase in year-to-date DCF detailed above.
 
Williams Partners reported unaudited second-quarter 2014 net income attributable to controlling interests of $232 million, or $0.11 per common limited-partner unit, comparedwith net income of $271 million, or $0.31 per common limited-partner unit for second-quarter 2013. Prior-period results throughout this release have been recast to include the results of the Canadian asset dropdown in February 2014.
 
Click here to view full results.
 

Williams Partners


Must ReadView All

Textiles | On 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Top executives
Textile industry

The foremost issue is bridging the skill gap

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search