The Williams Companies, Inc. · WMB · Next earnings

The Williams Companies, Inc. reports Monday, Nov 2, 2026

WMB reports before market open with consensus EPS at $0.56 and revenue at $3.01B. Last quarter: Williams Posts Record Q1 EBITDA, Raises Capex to Back Power Push

Reports Before market open43 days awayDate estimated Energy

What the street expects

Consensus for the coming report
Consensus EPS $0.56 Calendar consensus
Consensus revenue $3.01B Calendar consensus
Report date Nov 2, 2026 Monday, date estimated
Session Before market open 43 days away

Where WMB left off: FY2026 Q1

Full report

Williams Posts Record Q1 EBITDA, Raises Capex to Back Power Push

EPS surprise +15.1% Reported $0.73 vs $0.63
Revenue surprise -7.6% Reported $3.03B vs $3.28B
Stock move +0.9% Event window
Subsequent drift -5.9% Up to 20 sessions

Management maintained full-year guidance but narrowed expectations toward the upper half of the prior EBITDA range. The capex midpoint was raised to $7.3 billion, reflecting investments in new power-innovation projects and pipeline expansions. The company reaffirmed a 10%+ CAGR target through 2030. Leverage at 4.1x temporarily exceeds the target range, with deleveraging expected by 2028 as earnings from new projects accelerate.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Permitting and regulatory delays on the 401 process, Constitution, and other pipeline projects.
  • Leverage at 4.1x above target range until earnings acceleration from new projects materializes.
  • Execution risk on large-scale construction projects including Neo, Silver Spur, and Power Express.
  • Reliance on continued data-center demand and a favorable natural-gas price environment.
  • Litigation risk exemplified by the Atlantic Sunrise case.

Questions analysts left open

  • Appetite for power-innovation projects and future deal cadence.
  • Progress of permitting reform legislation.
  • Size and timing of the 6 GW backlog and project sequencing.
  • Contract length for new projects and potential extensions.
  • Financing structures and equity-partner options for the growing capex program.

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Recent WMB quarters

All WMB earnings
+0.9%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.