Dafinchi AI

The Williams Companies, Inc.

WMB

Energy & Utilities

2w

Record Summer Demand on Transco and All-Time Peak Gas Delivery

In July, Transco set an all-time record for summer demand with 16.1 Bcf of natural gas delivered on July 29.
Nine of the ten highest peak summer days occurred this summer, despite a summer that was 4.2% cooler than last year on a cooling degree day basis.
Management emphasized the robustness of demand growth driven by fundamental tailwinds, not just weather anomalies, highlighting the importance of infrastructure.

The Williams Companies, Inc.

WMB

Energy & Utilities

2w

Financial Performance Summary

Growth CapEx is expected near the high end of guidance at just under $2.9 billion, reflecting accelerated project timelines.
Northeast Gathering & Processing (G&P) business increased by $22 million or 5%, despite the negative impact of the Aux Sable divestiture.
Overall volumes increased across segments, with Gulf gathering volumes up 17% and NGL production up 77%.
The company expects a 9% CAGR in adjusted EBITDA from 2020 through 2025.
Transmission and Gulf business segment improved by $91 million or 11%, driven by expansion projects and higher revenues.
Upstream business showed a $7 million increase, partially offset by lower oil prices.
West segment grew by $22 million or 7%, supported by higher Haynesville volumes and the Rimrock acquisition.
Williams raised its 2025 adjusted EBITDA guidance midpoint by $50 million to $7.75 billion, representing a cumulative $350 million increase since 2024 guidance.
Williams reported an 8% increase in adjusted EBITDA for Q2 2025, reaching $1.808 billion compared to $1.667 billion in Q2 2024.

UGI Corporation

UGI

Energy & Utilities

1w

Operational Performance Amid Seasonal Variations

UGI reported a Q3 adjusted EPS of negative $0.01, reflecting typical seasonal patterns, with warmer weather and lower midstream margins impacting results.
The Utilities segment saw a decline in EBIT due to higher operating expenses but benefited from infrastructure investments and customer growth.
AmeriGas EBIT was stable, with lower volumes offset by higher margins, and the full-year performance remains resilient despite seasonal challenges.

WHD

Energy & Utilities

2w

Impact of Unexpected Doubling of Section 232 Tariffs from 25% to 50% in June 2025

The Section 232 tariffs on steel and derivatives were unexpectedly doubled from 25% to 50% on June 4, 2025, with no prior notice.
This change increased tariffs on imports from Vietnam and China, impacting cost structure and margins.
The company broadened its supply chain to higher-cost jurisdictions, including the U.S., to ensure delivery certainty.
Higher material costs led to faster inventory depletion and depressed margins at quarter-end.

Patterson-UTI Energy, Inc.

PTEN

Energy & Utilities

3w

Market Volatility and Macro Uncertainty Impacting Oil and Gas Activity

Oil prices fluctuated between mid-$50s and mid-$70s per barrel due to trade policy fears, OPEC+ production signals, and geopolitical risks, creating market volatility.
Customer drilling and completion activity remains cautious, with expectations of potential negative impacts on U.S. oil production and natural gas demand, especially as LNG facilities come online.
Management emphasizes the unsettled macro environment and its influence on customer behavior and industry activity levels.

Select Energy Services, Inc.

WTTR

Energy & Utilities

1w

Financial Performance Summary

Chemical Technologies segment revenues declined about 11% sequentially but exceeded margin guidance with 17.5% gross margin before D&A.
Consolidated adjusted EBITDA was $73 million in Q2, above the high end of prior guidance.
Select Water Solutions increased net income by 22% and adjusted EBITDA by 13% in Q2 2025.
SG&A increased to $39 million (just under 11% of revenue), partly due to Peak carve-out costs.
Water Infrastructure segment revenues grew 12% with a 55% gross margin before D&A, up 1.5 percentage points sequentially.
Water Services segment revenues decreased approximately 4% sequentially, with gross margins holding steady around 20%.

Shoals Technologies Group, Inc.

SHLS

Energy & Utilities

2w

Record Backlog and Strong Order Momentum Driving 2025 Growth Outlook

Shoals reported a record backlog and awarded orders (BLAO) of $671.3 million, with $540.3 million scheduled for shipment in the next 4 quarters through Q2 2026.
The company’s backlog and order flow support an increased revenue guidance for 2025, now projected between $450 million and $470 million, with a 37.9% sequential increase in Q2 and a 11.7% year-over-year growth.
Management emphasizes that despite industry volatility, demand fundamentals remain strong, driven by utility-scale solar, AI, data centers, and onshoring trends.