These 3 Takeaways From Williams Companies Q2 Results Show That Its Long-Term Plan Is Paying Dividends

Despite battling through several headwinds over the past year, Williams Companies (NYSE: WMB) has managed to deliver positive results. That pattern was echoed once again in the company's second-quarter earnings, reported this week. Williams showed a 4.5% increase in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), which hit $1.11 billion thanks to a solid quarter from its MLP Williams Partners (NYSE: WPZ). That marked the company's 15th consecutive quarter of adjusted EBITDA growth, which is impressive considering the intense commodity-price volatility that has plagued the industry over the past few years. As these results show, the company has further removed itself from these price fluctuations while at the same time increasing the visibility of future growth, which should pay big dividends down the road. 

Williams Companies gets virtually all of its income from its majority ownership interest in Williams Partners, which currently operates four segments. As the following chart shows, two of the four drove the company's solid performance during the second quarter:

Data source: Williams Partners. Chart by author. In millions of dollars.

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Source: Fool.com