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The Williams Companies (WMB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

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For the quarter ended March 2026, Williams Companies, Inc. (The) (WMB - Free Report) reported revenue of $3.03 billion, down 0.6% over the same period last year. EPS came in at $0.73, compared to $0.60 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.34 billion, representing a surprise of -9.36%. The company delivered an EPS surprise of +13.18%, with the consensus EPS estimate being $0.65.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: 4.01 Bcf/D versus 4.10 Bcf/D estimated by two analysts on average.
  • West - NGL equity sales: 7 millions of barrels of oil versus the two-analyst average estimate of 7.21 millions of barrels of oil.
  • West - Gathering volumes: 6.37 Bcf/D compared to the 6.67 Bcf/D average estimate based on two analysts.
  • Adjusted EBITDA- Other: $83 million compared to the $70.72 million average estimate based on three analysts.
  • Adjusted EBITDA- Northeast G&P: $524 million compared to the $513.24 million average estimate based on three analysts.
  • Adjusted EBITDA- Transmission, Power & Gulf: $1.01 billion versus the three-analyst average estimate of $1.02 billion.
  • Adjusted EBITDA- Gas & NGL Marketing Services: $227 million versus $149.61 million estimated by three analysts on average.
  • Adjusted EBITDA- West: $410 million compared to the $388.51 million average estimate based on three analysts.
  • Modified EBITDA- Transmission, Power & Gulf: $1.01 billion versus $1.04 billion estimated by two analysts on average.
  • Modified EBITDA- West: $407 million versus $389.26 million estimated by two analysts on average.
  • Modified EBITDA- Northeast G&P: $524 million compared to the $512.86 million average estimate based on two analysts.

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

Shares of The Williams Companies have returned +4.9% over the past month versus the Zacks S&P 500 composite's +10% 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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