Williams Companies Inc (NYSE:WMB) stock fell 3.09% (As on May 6, 11:22:52 AM UTC-4, Source: Google Finance) after the company posted mixed result for the first quarter of FY25. First-quarter 2025 Adjusted EBITDA increased by $55 million over the prior year, driven by the previously described favorable net contributions from acquisitions, expansion projects, and upstream results, partially offset by lower commodity marketing margins. First-quarter 2025 Adjusted Net Income improved compared to the prior year, driven by the previously described impacts to net income, adjusted primarily to remove the effects of net unrealized gains/losses on commodity derivatives. First-quarter Available Funds From Operations (AFFO) decreased by $62 million compared to the prior year primarily due to higher current income taxes and lower contributions from non-controlling interests.

Moreover, Transmission & Gulf of America First-quarter 2025 Modified and Adjusted EBITDA improved compared to the prior year driven by favorable net contributions from the Regional Energy Access and Southside Reliability Enhancement expansion projects and increased Gulf production, offset by one less billable day. Modified EBITDA for the 2024 period was impacted by one-time acquisition costs, which are excluded from Adjusted EBITDA. Northeast G&P First-quarter 2025 Modified and Adjusted EBITDA increased over the prior year driven by higher rates and volumes at Ohio Valley Midstream and higher commodity-based rates at Laurel Mountain Midstream, partially offset by the absence of Aux Sable, which was sold in third-quarter 2024. West First-quarter 2025 Modified and Adjusted EBITDA increased compared to the prior year benefiting from higher commodity margins and contributions from Overland Pass Pipeline, partially offset by lower Eagle Ford revenues associated with reduced MVC targets.

WMB in the first quarter of FY25 has reported the adjusted earnings per share of 60 cents, beating the analysts’ estimates for the adjusted earnings per share of 55 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 10 percent to $3.05 billion in the first quarter of FY25, missing the analysts’ estimates for revenue of $3.14 billion.

The company is raising the midpoint of its 2025 Adjusted EBITDA guidance by $50 million to $7.7 billion within the range of between $7.5 billion and $7.9 billion. The company expects 2025 growth capex between $2.575 billion and $2.875 billion and maintenance capex between $650 million and $750 million, excluding capital of $150 million for emissions reduction and modernization initiatives.