Williams stock: Record Q3 EBITDA keeps 2026 outlook in focus

The Williams Companies reported record third-quarter adjusted EBITDA on November 2, while keeping its 2026 financial outlook unchanged. The results release, carried by Morningstar from Business Wire, covered the three and nine months ended September 30, 2026.

Adjusted EBITDA rose to 2.039 billion US dollars from 1.920 billion US dollars a year earlier. Adjusted net income increased to 663 million US dollars, while adjusted earnings per share reached 0.54 US dollars. Cash flow from operations rose to 1.505 billion US dollars, and available funds from operations increased to 1.589 billion US dollars.

Growth Platforms Gain Momentum

Williams said its transmission, power and Gulf operations benefited from new power-generation revenue, projects placed into service and higher storage revenue. The West segment also gained from the Momentum Midstream acquisition and Louisiana Energy Gateway, while higher volumes supported the Northeast gathering and processing business.

The company completed the Momentum acquisition, strengthening its position in the Haynesville natural-gas basin. It also announced a 9.4 billion-cubic-foot expansion at Clay Basin, Southeast Supply Enhancement II with more than 150 million cubic feet per day of contracted capacity, and an 84 million-cubic-foot-per-day increase for the Garden Connector.

Four pipeline projects entered service during the quarter, adding 413 million cubic feet per day of capacity. Williams said the second phase of its Socrates power project was on track to enter service by mid-November. Chief Executive Chad Zamarin described Socrates as a model for developing fast, reliable and scalable power infrastructure as demand from power generation, liquefied natural gas and industry grows.

Guidance Holds As Projects Advance

Williams continues to expect 2026 adjusted EBITDA of 8.3 billion to 8.5 billion US dollars and growth capital spending of 7.3 billion to 7.9 billion US dollars. Management said performance through the first nine months keeps the company on track for the upper half of that EBITDA range. The planned leverage midpoint for the year remains about 3.75 times.

Management also continues to target adjusted EBITDA compound annual growth of more than 11 percent through 2030. The company is working to commercialize additional power projects, with the pipeline of investment opportunities offering further expansion potential but also requiring substantial capital and execution.

Share Context For Investors

Williams stock traded at 61.40 euros on Lang & Schwarz at 14:19 CET on Wednesday, November 11, 2026, 1.67 percent above the Xetra close of Tuesday, November 10, at 60.39 euros. The market quote provides a current trading reference, while the operating update gives investors a separate view of earnings momentum and project execution.

Broader investor sentiment for US equities can be followed in the S&P 500 market environment.

Further operating updates, project milestones and earnings developments are available in More news and analyses on Williams stock.