Williams Beats Revenue, Raises Guidance, and Unveils $5.5B Midstream Buy
WMB sits 28% above its 52-week low of $55.82.
Summary
Williams reported Q2 adjusted EPS of $0.50, matching FactSet consensus, while revenue jumped 10% to $3.05B, beating estimates by $220M. The company announced a deal to acquire Momentum Midstream for up to $5.5B, expanding its Haynesville footprint with long-term take-or-pay contracts tied to Gulf Coast LNG and power demand. Full-year adjusted EBITDA guidance was raised to $8.3B-$8.5B, up from $8.05B-$8.35B. This follows the $5.34B power innovation JV with Blackstone announced in July. The acquisition and guidance raise shift focus to growth catalysts.
At the time of this announcement, WMB was trading at $71.50 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $86.1B. The 52-week trading range was $55.82 to $80.08. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.