Williams Partners L.P. (WPZ) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $145 million, or $ 0.24 a share in the quarter, against a net loss of $1,644 million, or $2.68 a share in the last year period.

Revenue during the quarter grew 9.61 percent to $2,190 million from $1,998 million in the previous year period. Gross margin for the quarter contracted 208 basis points over the previous year period to 57.08 percent. Operating margin for the quarter period stood at positive 27.49 percent as compared to a negative 32.63 percent for the previous year period.

Operating income for the quarter was $602 million, compared with an operating loss of $652 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $194 million compared with $219 million in the prior year period. At the same time, adjusted EBITDA margin contracted 210 basis points in the quarter to 8.86 percent from 10.96 percent in the last year period.

Alan Armstrong, chief executive officer of Williams Partners' general partner, Said, "We realized strong cash flows from operations in 2016. The fact that Williams Partners 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."