WMB · 10-Q · 2026Q3 · Full report

Revenue Performance and Mix

WILLIAMS COMPANIES, INC. · 2026-11-02 · Importance 47 · Surprise 48

For the three months ended September 30, 2026, consolidated revenue was $3.223 billion, up $300 million from $2.923 billion a year earlier; nine-month revenue was $9.306 billion, up $554 million, or 6%. Nine-month reportable-segment revenue increased from $9.263 billion to $10.090 billion, with Transmission, Power & Gulf rising to $4.352 billion, West to $2.338 billion, Northeast G&P to $1.642 billion, and Gas & NGL Marketing Services to $1.758 billion. West revenue rose about 11% and Gas & NGL Marketing Services revenue rose about 14%, while growth reflected the Momentum acquisition, expansion projects, higher NGL marketing activity, and increased power revenue from Socrates South. The nine-month increase in service revenue was $512 million, or 8%, and product sales and service revenues—commodity consideration increased $335 million, or 13%.

Key facts

• Transmission, Power & Gulf power revenues increased by $53 million in the third quarter of 2026, primarily associated with Socrates South entering service in late July 2026 and reimbursable fuel expenses.
• Transmission, Power & Gulf Gulf Coast Storage revenues increased $21 million in the third quarter of 2026, primarily from higher storage rates.
• Transmission, Power & Gulf Transco revenues increased $77 million in the first nine months of 2026, primarily from expansion projects placed in service, higher park-and-loan services, and reimbursable expenses, partly offset by lower commodity revenues.
• Transmission, Power & Gulf Gulf Coast Storage revenues increased $62 million in the first nine months of 2026, primarily due to higher storage rates and park-and-loan services.
• Transmission, Power & Gulf power revenues increased $58 million in the first nine months of 2026, primarily associated with Socrates South and reimbursable fuel expenses.
• Transmission, Power & Gulf NWP revenues increased $19 million in the first nine months of 2026, primarily due to transportation rate increases.
• Transmission, Power & Gulf Eastern Gulf Coast revenues increased $16 million in the first nine months of 2026, primarily from higher crude oil transportation and natural gas gathering volumes from new wells at Blind Faith in the Ballymore field, partly offset by lower Devil’s Tower volumes and Kodiak reimbursable revenues.
• Northeast G&P Northeast JV revenues increased $22 million in the third quarter of 2026, primarily from higher gathering, processing, transportation, and fractionation volumes.