Williams Cos stock reports stronger Q3 and keeps 2026 outlook
Published on 11/03/2026 at 15:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSStrong quarter, unchanged outlook
- Williams increased third-quarter adjusted EBITDA by 6 percent year over year to 2.039 billion US dollars.
- Management kept its 2026 adjusted EBITDA target at 8.3 billion to 8.5 billion US dollars and expects performance in the upper half of that range.
- Momentum Midstream, new pipeline capacity and power projects are expanding Williams' growth platform.
Williams reported stronger third-quarter results on Monday, November 2, 2026, with higher service revenue, new infrastructure and the completed Momentum Midstream acquisition supporting earnings. The company kept its full-year outlook and said performance is tracking toward the upper half of its adjusted EBITDA range.
According to the Williams earnings release, GAAP net income available to common stockholders rose to 699 million US dollars from 646 million US dollars a year earlier. Diluted earnings per share increased to 0.56 US dollars from 0.53 US dollars.
Revenue and cash flow improve
Adjusted net income increased 10 percent to 663 million US dollars, or 0.54 US dollars per diluted share. Adjusted EBITDA rose by 119 million US dollars, or 6 percent, to 2.039 billion US dollars. Cash flow from operations reached 1.505 billion US dollars, up 5 percent, while available funds from operations advanced 10 percent to 1.589 billion US dollars. The dividend coverage ratio was 2.42 times on an AFFO basis.
Total revenue rose to 3.223 billion US dollars from 2.923 billion US dollars in the third quarter of 2025. Williams said higher service revenue reflected new power-generation revenue, the Momentum acquisition, projects placed in service and higher storage revenue. Reported earnings also included an 83 million US dollar gain from the sale of a Permian gathering system, while acquisition and joint-venture formation costs weighed on the quarter.
Projects shape the next growth phase
Williams completed the Momentum Midstream acquisition and expanded pipeline capacity by 413 million cubic feet per day across four projects. The company also announced a 9.4 billion cubic feet expansion at Clay Basin and new Transco projects, including more than 150 million cubic feet per day of planned capacity under Southeast Supply Enhancement II. The Garden Connector project was upsized by 84 million cubic feet per day.
Management said the Plato North Power project remains on track to enter service by mid-November. Chief Executive Chad Zamarin said year-to-date adjusted EBITDA reached 6.2 billion US dollars, up 9 percent, and that the project pipeline supports the company's long-term target of more than 11 percent annual adjusted EBITDA growth through 2030.
Williams continued to expect 2026 adjusted EBITDA of 8.3 billion to 8.5 billion US dollars and growth capital spending of 7.3 billion to 7.9 billion US dollars. The midpoint of the 2026 leverage ratio is approximately 3.75 times, with the company excluding certain reimbursable long-lead equipment from the relevant guidance measures.
Williams Cos stock traded at 62.40 euros on Lang & Schwarz at 14:41 CET on Tuesday, November 3, 2026. The real-time quote of Williams Cos stock is available separately.
Williams Companies at a glance
- Company: The Williams Companies, Inc.
- ISIN: US9694571004
- Ticker: WMB
- Home exchange: New York Stock Exchange
- Lang & Schwarz price: 62.40 euros at 14:41 CET on November 3, 2026
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