WMB
The Williams Companies, Inc.58.41
-1.07-1.8%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
71.33BP/E (TTM)
30.26Basic EPS (TTM)
1.93Dividend Yield
0.03%Recent Filings
8-K
Armstrong exits for Senate
Alan S. Armstrong resigned as Executive Board Chair and director effective March 23, 2026, to become U.S. Senator for Oklahoma. Stephen W. Bergstrom stepped back in as Chairman; board shrinks to 11. Compensation committee tweaked his 2024 and 2025 equity awards for accelerated retirement, valued at ~$2.8M at target performance. Smooth transition.
10-K
FY2025 results
Williams delivered FY2025 results with interstate throughput averaging 21.0 MMdth/d, up from 20.2 in 2024, fueled by Transco expansions like Southeast Energy Connector (April) and Alabama Georgia Connector (October) adding 214 Mdth/d capacity. Gathering volumes surged in West to 6.09 Bcf/d (+12% y/y derived) via Haynesville (Saber June, Louisiana Energy Gateway Q3) and DJ Basin (Rimrock January), though Q4 Eagle Ford decelerated on MVC shortfalls. NGL production hit consolidated peaks—Transmission, Power & Gulf 81 Mbbls/d, Northeast 143 Mbbls/d—while margins expanded on fee-based contracts (93% of volumes). Free cash flow not disclosed. Debt hit $29.4B; $1.36B buyback capacity remains. Q4 accelerated via Whale (January) and Shenandoah (July) offshore ramps. Cybersecurity threats loom large.
8-K
Record EBITDA, 2026 guidance up
Williams posted record 2025 Adjusted EBITDA of $7.75B, up 9% from 2024, fueled by Transco expansions, Gulf volumes, and acquisitions like Rimrock and Saber. Completed 12 projects totaling 1.1 Bcf/d transmission capacity. Guides 2026 Adjusted EBITDA to $8.05B-$8.35B amid robust execution. Growth accelerates.
8-K
Williams prices $2.75B notes
Williams priced a $2.75 billion senior notes offering on January 5, 2026—$500 million 5.650% due 2033 (additional to prior $750 million), $1.25 billion 5.150% due 2036, and $1 billion 5.950% due 2056—set to close January 8. Proceeds will repay $1.1 billion 5.400% notes due 2026 and fund general corporate purposes. Debt rolls forward.
8-K
Williams issues $2.75B notes
Williams Companies completed a $2.75 billion senior notes offering on January 8, 2026, issuing $500 million 5.650% notes due 2033 (additional to prior tranche), $1.25 billion 5.150% due 2036, and $1 billion 5.950% due 2056. Notes pay semi-annual interest, rank equally with other senior debt, yet carry lien and merger covenants. Redemption available via make-whole premium early.
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