The Williams Companies, Inc. reported Q3 adjusted EBITDA $1.196B, up 7.5%. Alan Armstrong, president and chief executive officer, made the following comments: “This quarter’s strong execution and results highlight why we are so bullish on the future. Williams has positioned itself as the leading natural gas infrastructure company, now operating as a simplified and focused C-Corp, with an irreplaceable suite of assets, investment grade credit ratings, as well as strong, steady, growing earnings and EBITDA. We continue to enjoy a backlog of attractive investment opportunities, and third-quarter 2018 results reflected continued steady and predictable increases in each of our key financial metrics.
With our strong year-to-date financial and operational performance, we see our full-year results trending toward the upper end of our financial guidance for 2018. Higher volumes in the Northeast and Transco expansion projects brought online in our Atlantic-Gulf segment helped significantly increase service revenues this quarter. Looking forward, the Atlantic Sunrise project and the Gulf Connector project will drive even higher growth in fourth-quarter 2018 and 2019 on Transco. Importantly, Atlantic Sunrise has opened up new markets for Marcellus producers, and that is now driving accelerated growth in our Northeast G&P business segment.
This growth will continue for many years, and immediately upon the heels of Atlantic Sunrise, we have announced another fully-contracted expansion out of the Northeast Pennsylvania area to serve growing markets with Transco’s Leidy South Expansion. In addition to the project execution on our pipelines, we are rapidly expanding our gathering systems and plants in the Marcellus, Utica, Haynesville, Powder River, DJ and Wamsutter Basins.”
