Williams Companies stock after stronger Q3 and steady outlook

Williams Companies reported stronger third-quarter results on Monday, November 2, 2026, while keeping its full-year targets unchanged. In its investor release, the US energy infrastructure group said new power-generation revenue, the Momentum Midstream acquisition, projects placed in service and higher storage revenue supported the quarter.

Quarterly growth broadens the base

Revenue increased 10.3 percent year over year to 3.223 billion US dollars from 2.923 billion US dollars. GAAP net income available to common stockholders rose 8 percent to 699 million US dollars, while diluted earnings per share reached 0.56 US dollars compared with 0.53 US dollars a year earlier.

Adjusted net income climbed 10 percent to 663 million US dollars, or 0.54 US dollars per diluted share. Adjusted EBITDA increased 6 percent to 2.039 billion US dollars from 1.920 billion US dollars. Operating cash flow rose 5 percent to 1.505 billion US dollars, and available funds from operations gained 10 percent to 1.589 billion US dollars.

The quarter also included an 83 million US dollar gain from the sale of a Permian gathering system. Williams excludes that gain, along with acquisition costs and unrealized commodity derivative effects, from adjusted measures. The company said higher operating and administrative expenses partly offset the improvement in underlying operations.

Infrastructure projects drive the outlook

Williams maintained its 2026 adjusted EBITDA guidance of 8.3 billion to 8.5 billion US dollars and growth capital spending guidance of 7.3 billion to 7.9 billion US dollars. Management expects the result to land in the upper half of the EBITDA range and set the 2026 leverage midpoint at about 3.75 times.

The company completed the Momentum Midstream acquisition during the quarter, expanding its Haynesville position for LNG, industrial and power demand. Williams also announced a 9.4 billion cubic feet storage expansion at Clay Basin, more than 150 million cubic feet per day of committed capacity for Southeast Supply Enhancement II, and 413 million cubic feet per day of added capacity across four pipeline projects.

Chief executive Chad Zamarin said year-to-date adjusted EBITDA rose 9 percent to 6.2 billion US dollars and reinforced the company's confidence in achieving adjusted EBITDA compound annual growth of more than 11 percent through 2030. Plato North Power remains on track to enter service by mid-November, while Williams expects to announce additional power projects before year-end.

Stock trades below Friday's Xetra close

Williams Companies stock traded at 57.71 euros on Lang & Schwarz at 15:11 CET on Monday, November 9, 2026, 0.16 percent below the Xetra close of Friday, November 6, at 57.80 euros. The current quote places the focus on whether project execution and contracted demand can support the company's investment-heavy expansion.

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