EarningsQ2 2026 Earnings Report
MX:WMB Q2 2026 EPS Results
Actual EPS$9.08
Consensus EPS$9.12
Beat/MissMissed by -$0.04
One Year Ago EPS$8.35
MX:WMB Q2 2026 Revenue Results
Actual Revenue$53.74B
Expected Revenue$51.37B
Beat/MissBeat by +$2.37B
YoY Revenue Growth+6.82%
Earnings Announcement Details
QuarterQ2 2026
Date08/03/2026
TimeAfter Close
Conference CallMonday, August 3, 2026
MX:WMB Upcoming Earnings
Williams Co's next earnings date is estimated for November 2, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:WMB Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational execution, meaningful growth initiatives, and strategically accretive transactions (Power Innovation JV and Momentum acquisition) that led to raised guidance and an upgraded long-term EBITDA CAGR target (11%+). Most near-term challenges cited (leverage pacing, seasonality, equipment timing, and some integration uncertainty) are being actively managed and mitigated through financing structures and project pacing. Overall, positives around commercial wins, validated execution (Socrates), funding secured, and expanded footprint materially outweigh the manageable near-term constraints.Company Guidance
Socrates Phase 1 In-Service — Power Innovation Validation
Phase 1 of Socrates reached in-service, delivering 200 MW utility-scale power in under 18 months since commercialization, on time and within budget; commissioning and load testing went smoothly and the site is ramping to full capacity over the coming month, validating the Power Innovation execution model.
Power Innovation Joint Venture Secures $5.34B
Announced a financing JV (with Blackstone, KKR, Apollo partners) providing $5.34 billion of committed capital (including $4.4B for 49% of expected growth capex plus $900M additional consideration) at a capped cost of equity of 6.35%; JV improves the multiple on invested capital for five near-term projects by ~56% over the primary term and includes an attractive buyout option beginning in 2033.
Momentum Midstream Acquisition Expands Haynesville Footprint
Signed $5.5 billion bolt-on acquisition of Momentum Midstream (funded with ~$3.5B cash & debt and $2B equity) adding ~6 Bcf/d of gathering capacity and >4 Bcf/d of take-or-pay pipeline capacity; acquisition is accretive, anchored to consolidated EBITDA multiple ~8.5x (approximately ~9x net), and expected to compress over time via growth and synergies.
Raised Full-Year 2026 EBITDA Guidance
Raised full-year 2026 adjusted EBITDA outlook to $8.3B–$8.5B after accounting for Momentum and other execution, representing a ~$200 million increase at the midpoint versus prior guidance.
Quarterly and Year-to-Date EBITDA Growth
Second quarter 2026 EBITDA increased 6% year-over-year; year-to-date EBITDA is up 10% (from $1.8B last year to $1.92B YTD), driven by Transmission & Gulf and other expansions.
Strong Segment Performance — Gulf, Storage, Northeast, West
Transmission & Gulf improved ~$56M (~6%); Gulf businesses grew 23%; natural gas storage increased 23%; Northeast G&P rose ~$39M (~8%); West increased ~$18M (~5%), with growth led by Haynesville-related investments.
Strategic Pipeline Expansion Projects Announced
Announced Shelby Connector (initial 750 MMcf/d, expandable to 1.5 Bcf/d, in-service H1 2028) and Delta Access (initial 2.25 Bcf/d, expandable to 3.5 Bcf/d, in-service early 2029) to connect Momentum footprint into the LEG/Transco corridor, supporting LNG and power demand.
Balance Sheet Capacity Preserved and Near-Term Funding Plan
Management forecasts year-end leverage around 3.9x (including assumed ~3 months of Momentum contribution) and a full-year run-rate leverage of ~3.75x, which they say opens in excess of $2B incremental capacity vs a 4x internal ceiling to fund near-term Power Innovation projects.
MX:WMB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed