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Compared to Estimates, The Williams Companies (WMB) Q4 Earnings: A Look at Key Metrics

By Zacks Equity Research | February 25, 2026, 9:30 AM

For the quarter ended December 2025, Williams Companies, Inc. (The) (WMB) reported revenue of $3.2 billion, up 16.6% over the same period last year. EPS came in at $0.55, compared to $0.47 in the year-ago quarter.

The reported revenue represents a surprise of +1.8% over the Zacks Consensus Estimate of $3.14 billion. With the consensus EPS estimate being $0.58, the EPS surprise was -4.99%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how The Williams Companies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Northeast G&P - Gathering volumes: 4.02 Bcf/D compared to the 4.18 Bcf/D average estimate based on two analysts.
  • West - NGL equity sales: 7 millions of barrels of oil versus the two-analyst average estimate of 7.54 millions of barrels of oil.
  • West - Gathering volumes: 6.56 Bcf/D compared to the 6.51 Bcf/D average estimate based on two analysts.
  • Adjusted EBITDA- West: $388 million compared to the $388.81 million average estimate based on four analysts.
  • Adjusted EBITDA- Transmission, Power & Gulf: $998 million versus the four-analyst average estimate of $1.01 billion.
  • Adjusted EBITDA- Northeast G&P: $508 million versus the four-analyst average estimate of $514.02 million.
  • Adjusted EBITDA- Gas & NGL Marketing Services: $42 million versus $32.87 million estimated by three analysts on average.
  • Adjusted EBITDA- Other: $97 million versus $96.11 million estimated by three analysts on average.
  • Modified EBITDA- Northeast G&P: $508 million versus the two-analyst average estimate of $515.05 million.
  • Modified EBITDA- West: $201 million versus the two-analyst average estimate of $390.61 million.
  • Modified EBITDA- Transmission, Power & Gulf: $998 million compared to the $1.01 billion average estimate based on two analysts.

View all Key Company Metrics for The Williams Companies here>>>

Shares of The Williams Companies have returned +12.3% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Williams Companies, Inc. (The) (WMB): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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