The earnings call reflects a strong and strategic quarter for Williams, marked by significant growth in adjusted EBITDA, strategic partnerships, and expansion in the Power Innovation sector. Despite some challenges in the Northeast and cost inflation in Power Innovation, the company's forward-looking financial guidance and strategic asset divestitures position it well for future growth.

Company Guidance

During The Williams Companies' Third Quarter 2025 Earnings Conference Call, substantial guidance was provided on the company's future projects and financial outlook. Williams highlighted the completion of key transmission projects, such as the Northwest Pipeline's Stanfield South and Transco's Alabama, Georgia Connector, which increased pipeline capacity by nearly 200,000 dekatherms per day. The company also announced new projects, like the Wharton West expansion and a strategic LNG partnership with Woodside Energy, involving a $1.9 billion investment in a 3.1 Bcf a day pipeline and LNG terminal. Financially, Williams reported a 13% increase in adjusted EBITDA to $1.92 billion for Q3 2025, compared to the previous year, and maintained its 2025 adjusted EBITDA guidance at $7.75 billion, projecting a 9% growth over 2024. The company also plans to invest $3.95 billion to $4.25 billion in growth capital expenditures for 2025 and expects to maintain a leverage ratio of approximately 3.7x. Williams aims for a 5-year compound annual growth rate (CAGR) of 9% for adjusted EBITDA and 14% for EPS, with significant capital investments anticipated through 2027.

Record-Breaking Adjusted EBITDA Performance

Adjusted EBITDA for Q3 2025 was $1.92 billion, marking a 13% increase compared to the previous year. The Transmission, Power & Gulf business segment alone set an all-time record with a 14% increase.

Strategic LNG Partnership and Asset Divestiture

Williams announced the sale of its interest in the Haynesville upstream asset to JERA for $398 million, alongside a strategic partnership with Woodside Energy to build and operate a 3.1 Bcf a day pipeline.

Power Innovation Business Expansion

Williams plans to invest approximately $3.1 billion in two additional projects, raising total Power Innovation committed capital to about $5.1 billion, backed by 10-year agreements.

Significant Increase in Gulf Gathering Volumes

Gulf gathering volumes were up over 36% compared to the previous year, with NGL production increasing by about 78%.

Continued Strong Financial Guidance

Williams is on track to meet or exceed its 2025 adjusted EBITDA guidance with a midpoint of $7.75 billion, reflecting 9% growth over 2024.

Williams Co (WMB) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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WMB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 23, 2026	2025 (Q4)	0.57 / -	0.47	―	―	―
Sep 30, 2025	2025 (Q3)	0.51 / 0.49	0.43	13.95% (+0.06)	―	―
Jun 30, 2025	2025 (Q2)	0.48 / 0.46	0.43	6.98% (+0.03)	―	―
May 05, 2025	2025 (Q1)	0.57 / 0.60	0.59	1.69% (+0.01)
Feb 12, 2025	2024 (Q4)	0.46 / 0.47	0.48	-2.08% (-0.01)
Nov 06, 2024	2024 (Q3)	0.42 / 0.43	0.45	-4.44% (-0.02)
Aug 05, 2024	2024 (Q2)	0.38 / 0.43	0.42	2.38% (+0.01)
May 06, 2024	2024 (Q1)	0.49 / 0.59	0.56	5.36% (+0.03)
Feb 14, 2024	2023 (Q4)	0.45 / 0.48	0.53	-9.43% (-0.05)
Nov 01, 2023	2023 (Q3)	0.41 / 0.45	0.48	-6.25% (-0.03)

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

WMB Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Sep 30, 2025	$63.35	$63.69	+0.54%
Jun 30, 2025	$62.28	$58.22	-6.52%
May 05, 2025	$59.17	$57.72	-2.45%
Feb 12, 2025	$53.84	$53.42	-0.78%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Williams Co (WMB) report earnings?

Williams Co (WMB) is schdueled to report earning on Feb 23, 2026, After Close (Confirmed).

What is Williams Co (WMB) earnings time?

Williams Co (WMB) earnings time is at Feb 23, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is WMB EPS forecast?

WMB EPS forecast for the fiscal quarter 2025 (Q4) is 0.57.

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