Feed - Buzzberg

13:30
Aug 04 ◎

WMB FY2026 Q2 Watch

Williams Companies, Inc. (The) (WMB) FY2026 Q2 Earnings Call

BX KKR APO WMB VST ▾

Chad Zamarin

Blackstone provided $5.34B in committed capital for Williams' power innovation JV at a capped 6.35% cost of equity, enabling Williams to scale without dilutive equity.

"I want to congratulate the Williams and Blackstone teams as well as key partners Apollo and KKR for achieving a great outcome and for supporting this exciting business."

BX WATCH

Chad Zamarin

KKR is a partner in the power innovation JV, potentially expanding Williams' access to capital for future power projects.

"I want to congratulate the Williams and Blackstone teams as well as key partners Apollo and KKR for achieving a great outcome and for supporting this exciting business."

KKR WATCH

Chad Zamarin

Apollo is a partner in the power innovation JV, providing additional capital backing and credibility to Williams' power business.

"I want to congratulate the Williams and Blackstone teams as well as key partners Apollo and KKR for achieving a great outcome and for supporting this exciting business."

APO WATCH

Chad Zamarin

Williams raised guidance and long-term growth targets due to the Momentum acquisition, strong power innovation performance, and expanding demand visibility across the Gulf Coast.

"we are raising full-year 2026 EBITDA guidance by $200 million at the midpoint and we are increasing our long-term EBITDA growth rate target to 11 plus percent compound annual growth through 2030 vs prior 10 plus"

WMB WATCH

Larry Larsen

Socrates phase one in-service under 18 months de-risks the power innovation model and enables faster commercialization of future projects, particularly in data center power. — Independent power producers like Vistra and Constellation face competition from Williams' behind-the-meter solution in core data center markets.

"As of this week, we're delivering first power to the facility and expect to see that ramp up over the course of the month."

VST WATCH CEG WATCH

Chad Zamarin

Line 200 extension and Delta Access pipeline expand capacity from Gillis, Louisiana, to serve LNG demand and new power loads, indicating growing natural gas infrastructure needs. — Williams' pipeline expansions provide critical supply assurance to LNG exporters like Cheniere, supporting their export growth.

"The combined Williams and Momentum assets will form the backbone that connects our country's fastest growing supply basin with our fastest growing demand corridor."

LNG WATCH

HIGH

13:30
May 05 ◎

WMB FY2026 Q1 Watch

Williams Companies, Inc. (The) (WMB) FY2026 Q1 Earnings Call

WDS WMB ▾

Chad Zimmerman

Williams is executing on its stake in the Woodside LNG project, positioning itself as a key supplier of gas to the terminal.

"things are progressing well on the Woodside LNG project. We've taken over and now are the primary owner of Line 200, which will connect from Transco, also our Louisiana Energy Gateway system, and to the Woodside LNG terminal."

WDS WATCH

Chad Zimmerman

Management's tone is positive, driven by strong Q1 results, robust project backlog, and expectations for continued growth into 2028 and beyond.

"we are currently pointing toward the upper half of our full year EBITDA guidance"

WMB WATCH

HIGH

13:30
Feb 10 ◎

WMB FY2025 Q4 Watch

Williams Companies, Inc. (The) (WMB) FY2025 Q4 Earnings Call

WDS VST GE PH WMB ▾

Rob Wingo

Management reassures that Woodside's timeline and offloading plans remain on track despite a CEO transition.

"Woodside will anchor 2.2 BCF a day of additional long-term demand for our Hainesville systems and ties that demand directly into the Transco corridor."

WDS WATCH

Chad Zamarin

WM exited its Cogentrix stake into Vistra's acquisition, banking a handsome ROI.

"We saw we had gotten kind of what we needed. We could have stayed in the investment when Vistra announced its acquisition. But the economics, you know, we're going to double our investment in under a year. And so it made sense to just, you"

VST WATCH

Larry Larson

Williams is locking in large turbine orders, securing equipment capacity through the early 2030s for its ~6GW power backlog, with minimal exposure because orders are backed by customer commitments. — Williams is effectively pre-booking turbine capacity, potentially constraining availability for competitors and securing favorable pricing.

"Our supply chain teams have already secured the major equipment needed to support our six-gigawatt project backlog"

GE WATCH PH WATCH

John Porter

Management raised its long-term growth target to 10%+ EBITDA CAGR, backed by a fully contracted project backlog.

"we think a 10% plus CAGR for both adjusted EBITDA and EPS, while maintaining leverage in the 3.5 to 4 times range, is a very reasonable target for our business."

WMB WATCH

John Porter

Williams sees a surge in interest from financial/infrastructure partners who want to invest in its power innovation projects, likely at attractive terms for Williams. — The flow of capital into Williams' projects may signal a broader trend of infrastructure capital chasing data-center/energy assets at favorable valuations.

"We are getting lots of inbounds from very attractive counterparties who would love to be a part of our projects."

BIP WATCH CQP WATCH

HIGH

Feed — Buzzberg