Tulsa-Based Williams Companies Releases First Quarter Earnings, Says Demand For Natural Gas Is Strong

Tuesday, May 5th 2020, 8:08 pm
By: Amy Slanchik

TULSA, Okla. - Tulsa-based Williams Companies said the demand for natural gas is strong right now.

The Williams President and CEO said in a statement this year's first quarter earnings report results, which show a net loss of $518 million, were in line with what the company was expecting, adding they are "well-positioned" to continue delivering natural gas across the United States.

Despite the collapse of oil prices, the company said the demand remains strong for natural gas in the areas Williams serves.

Williams has also benefited from strong transmission volumes and good rates through its pipelines, which run all over the nation. 

The company's stock is attractive to investors because it said it has a stable, strong dividend of over eight percent. Williams has paid a stock dividend every quarter since 1974.

President and CEO Alan Armstrong thanked the frontline workers in a first quarter earnings call Tuesday.

"We often take our warm, and well-lit homes for granted, but it took great dedication, extra effort and resourcefulness to keep our most basic energy needs available during these disruptive times,” Armstrong said during the call.

To view the company’s first quarter earnings report presentation, click here.

Williams said it took COVID-19 safety measures for its frontline workers across the nation, including people who maintain facilities like processing plants and monitor pipelines.

Williams operates in 24 states and has about 4,800 employees, with about 1,000 of them working in Tulsa.