WMB · 8-K · 20261102PR000035
Guidance / Outlook
WILLIAMS COMPANIES, INC. · 2026-11-02 · Importance 58 · Surprise 24 · Contradicted
Williams maintained its 2026 Adjusted EBITDA guidance range of $8.3 billion to $8.5 billion and said it was tracking toward the upper half of the range. The company expects 2026 growth capital expenditures of $7.3 billion to $7.9 billion and a leverage-ratio midpoint of approximately 3.75x. The midpoint reconciliation sets 2026 Adjusted EBITDA at $8.4 billion and AFFO at $6.375 billion. Guidance for growth capex and debt-to-Adjusted-EBITDA excludes certain reimbursable long-lead equipment.
Key facts
- Williams said it was tracking toward the upper half of its 2026 Adjusted EBITDA guidance range of $8.3 billion to $8.5 billion. source
- Williams' 2026 Adjusted EBITDA guidance remained $8.3 billion to $8.5 billion, and growth capital expenditures guidance remained $7.3 billion to $7.9 billion. source
- Williams' 2026 guidance midpoint included $8.4 billion of Adjusted EBITDA and an AFFO/common dividend coverage ratio of 2.47x. source
- Williams' 2026 guidance midpoint included $6.375 billion of AFFO and $2.585 billion of common dividends. source
- Williams stated a long-term target of achieving an Adjusted EBITDA compound annual growth rate of more than 11% through 2030. source
- Williams said Socrates' Plato North Power project was on track to enter service by mid-November 2026. source
- Williams' 2026 leverage ratio midpoint was approximately 3.75x; 2026 growth capex and debt-to-adjusted EBITDA guidance excludes certain reimbursable long-lead equipment. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | committed | +221.5% | Williams' 2026 Adjusted EBITDA guidance remained $8.3 billion to $8.5 billion, and growth capital expenditures guidance remained $7.3… |
| cash | negative | committed | — | Williams' 2026 Adjusted EBITDA guidance remained $8.3 billion to $8.5 billion, and growth capital expenditures guidance remained $7.3… |
| cash | positive | committed | — | Williams' 2026 guidance midpoint included $6.375 billion of AFFO and $2.585 billion of common dividends. |
| cash | negative | committed | — | Williams' 2026 guidance midpoint included $6.375 billion of AFFO and $2.585 billion of common dividends. |
| operating_income | positive | committed | — | Williams stated a long-term target of achieving an Adjusted EBITDA compound annual growth rate of more than 11% through 2030. |
| revenue | positive | probable | — | Williams said Socrates' Plato North Power project was on track to enter service by mid-November 2026. |