Williams Q2 adjusted EPS misses estimates; to acquire Momentum Midstream

The Williams Companies

03/08/2026 21:29

Overview
U.S. natural gas pipeline operator's Q2 adjusted EPS missed analyst expectations
Adjusted EBITDA for Q2 rose 6% yr/yr, driven by transmission and Gulf Coast expansions
Company to acquire Momentum Midstream for up to $5.5 bln to boost Haynesville, LNG exposure

Outlook
Williams raises 2026 Adjusted EBITDA guidance midpoint by $200 mln to $8.4 bln
Company expects 2026 Adjusted EBITDA between $8.3 bln and $8.5 bln

Result Drivers
SERVICE REVENUE GROWTH - Co said higher service revenues from projects placed in service, new Gulf volumes, higher storage revenues, and increased gathering volumes drove results
GAS MARKETING MARGINS - Higher gas marketing margins contributed to improved results
ASSET SALES AND EQUITY EARNINGS - Gains from asset sales and higher equity earnings, particularly from Blue Racer Midstream and Appalachia Midstream, supported net income growth

Company press release: ID:nBw4XZsZka

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Miss
$0.50
$0.51 (12 Analysts)
Q2 EPS
 
$0.68
 
Q2 Adjusted Net Income
Miss
$614 mln
$624.52 mln (6 Analysts)
Q2 Net Income
 
$827 mln
 
Q2 Cash Flow from Ops
 
$1.38 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil & gas transportation services peer group is "buy"
Wall Street's median 12-month price target for Williams Companies Inc is $83.00, about 16% above its July 31 closing price of $71.54
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 32 three months ago

Reuters Recommended Reads
Aug 3 - Hess Midstream's Q2 adjusted EBITDA beats on lower operating costs
Aug 3 - Shale producer Diamondback Energy beats second-quarter profit estimates
Aug 3 - US LNG exports stall in July despite higher LNG prices

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)