The Williams Companies, Inc. Q2 FY26 Results — Earnings Call Analysis
Published 29 May 2026 | Oil, Gas and Consumable Fuels | Market Cap: ₹89.4K Cr
- Company targets a long-term EBITDA and EPS CAGR of 10%+ from 2025 through 2030. - Williams targets a 10%+ CAGR for EBITDA and EPS from 2025 through 2030, reflecting strong long-term growth ambitions.
From The Williams Companies, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.
Price
₹73.13
Market Cap
₹89.4K Cr
P/E Ratio
33.5
Revenue Rank
Margin Rank
How does The Williams Companies, Inc. rank in Oil, Gas and Consumable Fuels?
Compare The Williams Companies, Inc. against every Oil, Gas and Consumable Fuels company this quarter on revenue, margins and earnings-call signals.
📊 Revenue & Sales Performance
Rank 3- →Company targets a long-term EBITDA and EPS CAGR of 10%+ from 2025 through 2030.
- →Current contracted business supports around a 9% CAGR, up from about 8% previously.
- →Robust project backlog (~6 gigawatts) indicates strong opportunities for sales and volume growth.
- →Expansion projects like Neo, Atlas, Silver Spur, and Power Express are expected to contribute significantly to growth with combined multi-billion-dollar investments.
- →First quarter 2026 shows 13% adjusted EBITDA growth year-over-year, signaling strong momentum.
- →Growth CapEx increased to $7.3 billion for 2026, reflecting aggressive growth investments.
- →Haynesville and other supply basins expected to ramp due to strong natural gas demand, supporting volume growth.
- →Anticipated commissioning of new pipeline infrastructure will enable access to expanding markets and customers.
- →Expectation of continued strong demand for natural gas, especially for data centers and power generation.
📈 Profitability & Margins
Rank 1- →Williams targets a 10%+ CAGR for EBITDA and EPS from 2025 through 2030, reflecting strong long-term growth ambitions.
- →Current contracted business supports around a 9% CAGR, up from the previous 8%, driven by new project additions.
- →The company expects "enormous earnings growth" in 2028, which will reset leverage capacity and support further growth.
- →First quarter 2026 adjusted EBITDA grew 13% year-over-year to a record $2.25 billion.
- →Adjusted earnings per share increased 22% year-over-year, indicating strong profitability gains.
- →Based on strong performance so far, the full-year 2026 EBITDA guidance is now expected in the upper half of the original guidance range.
- →Growth is fueled by continued commercialization of new projects, disciplined project execution, and expansion in key business segments.
🏗️ Capital Expenditure Plans
Yes💰 Fundraising & Capital Structure
Yes- →The company is actively evaluating financing options to support its growth, particularly for power innovation projects.
- →Leverage has temporarily moved modestly above the target range (3.5 to 4x), reaching 4.1x due to recent project executions.
- →There is strong interest from potential partners to invest alongside the company, providing opportunities to enhance economics and recycle capital.
- →They are preserving multiple financing options, including partnerships, asset sales, and possibly debt or equity, without locking into a single path.
- →The company plans to firm up specific financing plans over the next couple of months.
- →Despite higher leverage in the near term (2026-27), significant earnings growth expected in 2027-28 will naturally reduce leverage.
- →Dividend growth remains a priority alongside maintaining financial flexibility for CapEx funding.
📋 Order Book & Pipeline
Yes- →The company currently has a robust backlog of approximately 6 gigawatts of power projects, considered an order of magnitude estimation.
- →This backlog remains strong and is being actively "high-graded" to prioritize projects where the company has competitive advantages and capacity for steady, predictable growth.
- →There is significant opportunity in new projects, with ongoing additions to the backlog supporting future growth.
- →The team focuses on balancing project execution, supply chain availability, and financing discipline.
- →Financing solutions under consideration include partnerships to recycle capital while maintaining strategic control.
- →The company expects strong earnings growth from project executions in 2027-2028 to improve leverage capacity.
- →They plan to provide more financing details in the next couple of months.
Key Metrics
Revenue
Margin
Capex
Fundraise
Order Book
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Frequently Asked Questions
What were The Williams Companies, Inc. Q2 FY26 results?
- Company targets a long-term EBITDA and EPS CAGR of 10%+ from 2025 through 2030. - Williams targets a 10%+ CAGR for EBITDA and EPS from 2025 through 2030, reflecting strong long-term growth ambitions.
What is The Williams Companies, Inc. share price analysis?
The Williams Companies, Inc. currently shows a below-average growth signal. The stock trades at a P/E of 33.5 with a market cap of $89,438. Investors should review the full earnings analysis for detailed insights.
Is The Williams Companies, Inc. planning capital expenditure?
- Growth CapEx midpoint for 2026 increased by $26 million to $7.3 billion, driven by adding another power innovation project (Neo).
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.