Williams Beats Q2 Earnings, Lifts Guidance, and Unveils $5.5B Momentum Midstream Deal
WMB sits 28% above its 52-week low of $55.82.
Summary
Williams posted Q2 Adjusted EBITDA of $1.92B, raised 2026 guidance, and announced a $5.5B acquisition of Momentum Midstream to expand its Haynesville position serving Gulf Coast LNG and power demand.
Key Events · Earnings and Guidance · WMB
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Q2 Earnings Beat
Adjusted EBITDA reached $1.921B, up 6% year-over-year, while Adjusted EPS rose 8% to $0.50. GAAP net income surged 51% to $827M, or $0.68 per share.
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2026 Guidance Raised
The midpoint of Adjusted EBITDA guidance was lifted by $200M to $8.4B, reflecting the Momentum Midstream acquisition and strong operational performance.
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$5.5B Momentum Midstream Acquisition
Valued at up to $5.5B—comprising $3.5B in cash and debt plus approximately $2B in equity—the deal adds over 4,000 miles of pipe, 6 Bcf/d of gathering capacity, and 4.05 Bcf/d of pipeline capacity in the Haynesville.
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Expansion Projects Announced
Two projects totaling $1.5B will connect Haynesville supply to Gulf Coast LNG and power demand: the 2.25 Bcf/d Delta Access expansion (online Q1 2029) and the 750 MMcf/d Shelby Trough Connector (online Q2 2028).
Analysis · WMB · Energy & Transportation
A strong second quarter saw Adjusted EBITDA climb 6% to $1.92 billion, topping expectations and prompting a $200 million boost to full-year guidance. In a transformative move, the company also announced the $5.5 billion acquisition of Momentum Midstream—funded with $3.5 billion in cash and debt and roughly $2 billion in equity—which deepens its Haynesville footprint and adds long-term take-or-pay contracts. The deal is expected to be accretive to AFFO and EPS, and comes with two immediate expansion projects totaling $1.5 billion. This combination of earnings strength, a guidance raise, and a major strategic acquisition signals robust growth and financial confidence, though the equity component introduces modest dilution.
How filings like this one have moved
In the 30 days to Sep 16, 2026, 34.8% of the 1152 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, 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 filing was assessed with positive market sentiment and an importance score of 8 out of 10.