WILLIAMS COMPANIES, INC. — Form 8-K
Filed November 2, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
Williams reported Q3 2026 net income of $699M ($0.56/share, up 6% YoY) and Adjusted EBITDA of $2.039B (up 6% YoY). Year-to-date Adjusted EBITDA reached $6.214B (up 9% YoY), tracking toward upper half of $8.3–8.5B full-year guidance. Key milestone: closed $2.816B Momentum Midstream acquisition in September 2026 ahead of schedule, enhancing Haynesville position. Announced 413 MMcf/d pipeline capacity expansion across four projects, 9.4 Bcf Clay Basin storage expansion, and Transco Southeast Supply Enhancement II (150+ MMcf/d). Dividend coverage ratio: 2.42x AFFO; leverage 3.80x debt-to-adjusted EBITDA; targeting 11%+ EBITDA CAGR through 2030.
Why this rating
Solid operational execution and modest growth (6–10% EBITDA), but Momentum deal ($2.8B ≈ 4% of market cap) is strategic, not transformational. On-track guidance. Growth projects routine for this company.
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