Williams (WMB) Q3 2026 Earnings Review: New projects support the upper half of its outlook
Earnings results
- EPS miss 1.8%
Actual: $0.54 adjusted · Cons.: $0.55.
- Revenue beat 1.0%
Actual: $3.223B · Cons.: $3.19B.
- Guidance reaffirmed
2026 adjusted EBITDA: $8.3–8.5B, unchanged · Tracking toward the upper half.
What the company reported
New power generation, projects entering service, storage revenues and Momentum contributed to $198 million in additional service revenue, supporting the upper half of the unchanged annual outlook.
Q3 2026 earnings recap
Williams kept its annual outlook intact as new power projects, storage demand and the Momentum acquisition lifted service revenue, supporting expectations for the upper half of its earnings range.
- Adjusted profit per share rose to $0.54 but missed the $0.55 consensus by one cent, while GAAP profit per share reached $0.56.
- Revenue increased 10.3% to $3.22 billion, beating the $3.19 billion consensus as service revenue rose $198 million.
- The company still expects $8.3–8.5 billion in adjusted EBITDA, an earnings measure before interest, taxes, depreciation and amortization.
- Operating cash flow rose 5% to $1.51 billion, but the $7.3–7.9 billion annual growth-investment plan makes financing and construction execution important.
- The $71.19 November 2 close valued Williams at about 28 times trailing GAAP earnings, which include asset-sale gains.
- Shares fell 4.3% during regular trading before the release, leaving $69.7–70.50 as nearby support and $73.5–75 as an area to reclaim.
Watch the planned mid-November start of Plato North power generation, while delays, higher borrowing costs or weaker customer demand could reduce returns on new projects.
Financials, technicals and earnings
Charts through Nov 2, 2026.
Technical setup and risks
Regular-session shares fell before earnings to $71.19; watch support around $69.7–70.50 and resistance at $73.5–75 without attributing that earlier decline to the later release.
AI-assisted earnings research with verified issuer results. Charts use the stated completed session. Educational information; investing involves risk.