The Williams Companies, Inc. (WMB) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 1, 2022 9:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, everyone, and welcome to The Williams Third Quarter 2022 Earnings Conference Call. Today's conference is being recorded.

At this time, for opening remarks and introductions, I would like to turn the call over to Mr. Danilo Juvane, Vice President of Investor Relations. Please go ahead.

Danilo Juvane - VP of IR

Thanks, Gina, and good morning, everyone. Thank you for joining us and for your interest in The Williams Company.

Yesterday afternoon, we released our earnings press release and the presentation that are President and CEO, Alan Armstrong; and our Chief Financial Officer, John Porter, will speak to you this morning. Also joining us on the call today are Micheal Dunn, our Chief Operating Officer; Lane Wilson, our General Counsel; and Chad Zamarin, our Senior Vice President of Corporate Strategic Development.

In our presentation materials, you'll find a disclaimer related to forward-looking statements. This disclaimer is important and integral to our remarks, and you should review it. Also included in our presentation materials are non-GAAP measures that we reconcile to generally accepted accounting, and these reconciliation schedules appear at the back of today's presentation materials.

So with that, I'll turn it over to Alan Armstrong.

Alan Armstrong - President and CEO

Great. Thanks, Danilo, and thank you all for joining us today. Williams reported another great quarter, and John will walk through the details in a moment, but the punchline is that Williams delivered exceptional results in the third quarter with adjusted EBITDA up 15% compared to the same period last year, driven by strong performance across all of our core businesses and our JV upstream operations.

Our natural gas strategy has proven that it can capture upside margins and weather commodity price cycles as we work to serve growing demand for clean, secure and affordable energy. These results really speak to the strength of our assets and our long-term approaches business. Williams is the most natural gas-centric large-scale midstream company around today, and there's a reason we've stuck with our natural gas-focused strategy for as long as we have. Not only is this strategy delivering in the current environment, but the signals coming from the market show that it is going to continue to deliver substantial growth for the long term as well.