TULSA, Okla. (AP) _ Williams Cos. (WMB) on Monday reported a first-quarter loss of $517 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Tulsa, Oklahoma-based company said it had a loss of 43 cents. Earnings, adjusted for non-recurring costs, came to 26 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The pipeline operator posted revenue of $1.91 billion in the period.
Williams Cos. expects full-year earnings in the range of 95 cents to $1.20 per share.
Williams Cos. shares have declined 19% since the beginning of the year, while the Standard & Poor's 500 index has decreased 12%. In the final minutes of trading on Monday, shares hit $19.13, a decline of 30% in the last 12 months.