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This statistic highlights Williams Companies’ Revenue by Service Line, split across product service, product sales and other services, reported on a quarterly basis.
|Revenue by Service Line||Q2 2020||Q1 2021||Q2 2021||Contribution in Q2 2021|
(All figures in millions, except percentages)
The total revenue of Williams Companies grew from $1,781 million in Q2 2020 to $2,283 million in Q2 2021, marking a 28.2% growth in revenue in a year. On the other hand, the revenue fell by $329 million in Q2 2021, when compared to $2,612 million Q1 2021, leading to a 12.6% fall in revenue on a quarter-on-quarter basis.
The revenue of Williams Companies can be bifurcated into the following major service lines:
The contracts from the gas pipeline and midstream business contain many different services, and the majority of the contracts have a single performance obligation which is satisfied over a period of time as the customers consume the benefits derived from the product’s performance.
The total revenue from the service line grew by $38 million from $1,456 million in Q2 2020 to $1,494 million in Q2 2021, marking a growth of approximately 2.6% in revenue in a year. The revenue also grew by $42 million in Q2 2021, as compared to $1,452 million in Q1 2021, marking a 2.9% growth in revenue on a quarter-on-quarter basis. Overall, this service line had the highest share of 65.4% in the total revenue of the company in Q2 2021.
These are generally short-term contracts. These decreased primarily due to lower NGL and natural gas prices and lower volumes associated with NGL sales activities, including lower system management gas sales. Customers for these products include gas marketers, public utilities, and direct industrial users. The company purchases NGLs, crude oil, and natural gas from its natural gas and oil-producing customers which are then remarketed.
This service line had a 34% share in the company’s revenue in Q2 2021. The revenue from product sales grew from $310 million in Q2 2020 to $776 million in Q2 2021, marking a 150% growth in revenue in a year. On the contrary, the revenue declined by $335 million from $1,111 million in Q1 2021 to $776 million in Q2 2021, representing a 30.2% fall in revenue on a quarter-on-quarter.
The company also operated fractionation and storage assets in Kansas. It has a capacity of slightly more than 100 Mbbls/d and owns around 20 million barrels of NGL storage capacity. This line also includes some minor businesses and corporate operations that are non-reportable.
This service line had the least share of just 0.6% in the company’s total revenue in Q2 2021. Its total revenue declined by $2 million, from $15 million in Q2 2020 to $13 million in Q2 2021, marking a 13.33% fall in revenue in a year. The revenue also declined from, $49 million in Q1 2021 to $13 million in Q2 2021, marking a 73.5% fall in revenue on a quarter-on-quarter.
The company was founded in 1908 and was incorporated under the laws of the State of Nevada in 1949 and mainly operates in the United States. It is headquartered in Tulsa, Oklahoma, and also operates from Utah, Texas, Houston, Pittsburgh, and Pennsylvania. It is a leading energy infrastructure company committed to delivering infrastructure which helps in providing natural gas products. These products help to fuel the clean energy economy.
The company has its operations in more than 15 areas which in turn provide natural gas gathering, transmission, processing, transport, storage, and fractionation as well to more than 600 customers. The company handles around 30% of the nation’s natural gas volumes and operates about 30000 miles of pipelines, 23 million barrels of the storing capacity of NGL, 9 fractionation facilities, and 34 processing facilities. The common stock of the company is publicly traded on the NYSE under the symbol “WMB” and is a component of the S&P 500 index.
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