Revenue during the quarter grew 9.57 percent to $2,198 million from $2,006 million in the previous year period. Gross margin for the quarter contracted 500 basis points over the previous year period to 75.20 percent. Operating margin for the quarter period stood at positive 26.43 percent as compared to a negative 37.34 percent for the previous year period.

Operating income for the quarter was $581 million, compared with an operating loss of $749 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $1,123 million compared with $1,066 million in the prior year period. At the same time, adjusted EBITDA margin contracted 205 basis points in the quarter to 51.09 percent from 53.14 percent in the last year period.

Alan Armstrong, Williams’ president and chief executive officer, made the following comments: “We realized strong cash flows from operations in 2016. The fact that Williams delivered 8 percent year-over-year growth in Adjusted EBITDA demonstrates the strength of our proven natural gas-focused strategy. Our well-positioned natural gas infrastructure assets enabled us to once again organically grow fee-based revenues while our disciplined approach drove lower expenses even as we brought new assets online.