$WMB · WILLIAMS COMPANIES, INC.
Williams filed its Q3 2026 10-Q, reporting revenue of $3.223B (+10.3% YoY) and net income attributable to Williams of $700M (+8% YoY). The quarter included an $83M gain on asset sales and the September 3, 2026 closing of the Momentum acquisition (M6 Midstream LLC) in the Haynesville Shale. Nine-month net income reached $2.392B, up 27% from $1.884B in the prior-year period.
- Q3 2026 revenue of $3.223B, up 10.3% YoY from $2.923B
- Q3 net income attributable to Williams: $700M vs $647M in Q3 2025 (+8%)
- Nine-month net income surged 27% to $2.392B from $1.884B
- Gain on sale of assets contributed $277M over nine months, including $83M in Q3
- Closed Momentum acquisition (M6 Midstream LLC) on September 3, 2026, adding Haynesville Shale midstream assets
Extended-hours last trade at $71.25, essentially flat (+0.08%) vs the regular-session close of $71.19, suggesting the solid YoY revenue and earnings growth was largely priced in or met expectations.
Williams delivered double-digit revenue growth and closed a strategic Haynesville acquisition, reinforcing its midstream expansion at a time when natural gas infrastructure demand remains elevated.
Williams continues to benefit from strong natural gas infrastructure demand, with service revenues up 9% YoY in Q3. The Momentum acquisition expands its Haynesville Shale footprint, consistent with midstream consolidation trends.
Forward-looking risks include commodity price volatility, regulatory/rate case outcomes, and integration risk from the newly closed Momentum acquisition. The filing also flags exposure to credit risk of customers and counterparties, plus potential tariff impacts on steel and construction inputs.