10-QPeriod: Q2 FY2026

WILLIAMS COMPANIES, INC. Quarterly Report for Q2 Ended Jun 30, 2026

Filed August 3, 2026For Securities:WMB

Summary

Williams Companies, Inc. (WMB) reported a strong performance for the six months ended June 30, 2026, with net income attributable to the company increasing by 37% to $1.692 billion, up from $1.237 billion in the prior year period. This growth was driven by a significant increase in revenues across its key segments, particularly Transmission, Power & Gulf, and Northeast G&P, supported by successful expansion projects and higher service revenues. The company also benefited from substantial gains on asset divestitures, notably the sale of South Mansfield upstream interests and an equity-method investment in Brazos Permian II. Looking ahead, Williams announced a strategic acquisition of Momentum Midstream for up to $5.5 billion, expected to close later in the year, which will significantly expand its presence in the Haynesville Shale region. Additionally, the company secured substantial capital through selling a 49% noncontrolling interest in five power innovation projects, demonstrating its ability to attract investment for growth initiatives. Despite a robust operational and strategic outlook, investors should note the significant capital expenditure plans for 2026, ranging from $7.3 billion to $7.9 billion, and the ongoing commitment to returning capital to shareholders through dividends.

Key Highlights

  • 1Net income attributable to The Williams Companies, Inc. increased 37% to $1.692 billion for the six months ended June 30, 2026, compared to $1.237 billion for the same period in 2025.
  • 2Total revenues for the six months ended June 30, 2026, rose to $6.083 billion from $5.829 billion in the prior year period.
  • 3The company recognized significant gains from asset divestitures, including $194 million from the sale of South Mansfield upstream interests and $127 million from the sale of the Brazos Permian II equity-method investment.
  • 4Williams announced a major acquisition of Momentum Midstream for up to $5.5 billion, set to close later in 2026, expanding its Haynesville Shale footprint.
  • 5The company secured $5.34 billion in committed capital by selling a 49% noncontrolling interest in five power innovation projects.
  • 6Growth capital and investment expenditures for 2026 are projected to be between $7.3 billion and $7.9 billion.
  • 7The regular quarterly cash dividend was increased to $0.525 per share in 2026.

Frequently Asked Questions

Williams Companies demonstrated strong financial performance in the first half of 2026. Net income attributable to the company surged by 37% to $1.692 billion compared to the same period in 2025, driven by increased revenues across its segments, strategic asset divestitures, and gains from commodity derivatives. Total revenues also saw a healthy increase, reflecting growth in service and product sales.

Williams made significant strategic moves, including agreeing to acquire Momentum Midstream for up to $5.5 billion, which will enhance its position in the Haynesville Shale. Additionally, the company secured substantial capital by selling a 49% interest in five power innovation projects. These initiatives underscore a focus on growth and strategic expansion in key energy infrastructure areas.

All segments contributed positively, with notable growth in Transmission, Power & Gulf, Northeast G&P, and West segments, primarily driven by increased service revenues from expansion projects, higher volumes, and favorable storage rates. The Gas & NGL Marketing Services segment also showed improved performance, benefiting from higher commodity margins and favorable unrealized gains on commodity derivatives.

Williams plans substantial investments, with growth capital and investment expenditures expected to range between $7.3 billion and $7.9 billion for 2026, excluding acquisitions. The company continues to prioritize returning value to shareholders, as evidenced by the increase in its regular quarterly cash dividend to $0.525 per share.