WMB · 10-Q · 2026Q3 · Full report
Capital Expenditure Program
WILLIAMS COMPANIES, INC. · 2026-11-02 · Importance 64 · Surprise 42 · No source text
Williams’ 2026 growth capital and investment expenditures are expected to range from $7.3 billion to $7.9 billion, excluding acquisitions and certain customer-reimbursable long-lead power equipment. Construction and acquisition commitments for property, plant, and equipment were approximately $5.9 billion at September 30, 2026, with a significant portion related to long-lead power-project equipment. Nine-month additions to long-lived segment assets totaled $10.327 billion in 2026, compared with $2.910 billion in 2025. Planned growth spending includes power projects, Transco expansions, Haynesville and Northeast G&P projects, Louisiana LNG, Driftwood Pipeline, and development of Wamsutter properties.
Key facts
- Williams’ 2026 growth capital and investment expenditures are expected to range from $7.3 billion to $7.9 billion, excluding acquisitions and certain long-lead-time power-project equipment backed by customer reimbursement if canceled.
- A significant portion of Williams’ $5.9 billion property, plant, and equipment commitments relates to long-lead-time power-project equipment, with reimbursement from the project customer if the equipment order is cancelled.
- Williams reported approximately $5.9 billion of commitments for construction and acquisition of property, plant, and equipment at September 30, 2026.
- For the nine months ended September 30, 2026, Williams spent $5.682 billion on capital expenditures and $2.816 billion on business purchases, net of cash acquired.
- Williams expected 2026 growth capital and investment expenditures of $7.3 billion to $7.9 billion, excluding acquisitions and certain reimbursable long-lead-time power-project equipment.
- Williams spent $5.682 billion on capital expenditures in the nine months ended September 30, 2026, compared with $2.938 billion in the prior-year period.
- Williams' net cash used by investing activities was $7.998 billion in the nine months ended September 30, 2026, compared with $3.202 billion in the prior-year period.
- Williams was constructing a 75 MW alternating-current Lakeland Solar facility in Florida, expected to enter service in the fourth quarter of 2026.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -9.1% | Williams’ 2026 growth capital and investment expenditures are expected to range from $7.3 billion to $7.9 billion, excluding acquisitions… |
| cash | negative | realized | -8.0% | For the nine months ended September 30, 2026, Williams spent $5.682 billion on capital expenditures and $2.816 billion on business… |
| cash | negative | committed | -7.1% | A significant portion of Williams’ $5.9 billion property, plant, and equipment commitments relates to long-lead-time power-project… |
| cash | negative | realized | -6.8% | Williams' net cash used by investing activities was $7.998 billion in the nine months ended September 30, 2026, compared with $3.202… |
| cash | negative | realized | -4.0% | For the nine months ended September 30, 2026, Williams spent $5.682 billion on capital expenditures and $2.816 billion on business… |