• Reported GAAP EPS of $0.60 up 53.85% YoY • Reported revenue of $3.2B up 16.59% YoY • Williams expects 2026 Adjusted EBITDA to be between $8.05B and $8.35B, reflecting a 6% increase at the midpoint versus 2025. Williams also raised its annualized dividend by 5% to $2.10 for 2026.
Bullish
Williams achieved record 2025 Adjusted EBITDA of $7.75B, driven by robust project execution and strategic acquisitions, while also increasing its annualized dividend for 2026.
Bearish
Williams faced 2025 asset impairments totaling $212M, driven by planned asset sales, alongside increased operating and depreciation expenses, and lower investing income due to absence of prior gains.