Williams’ 2Q 2026 earnings call drew CEO Chad Zamarin, CFO John Porter, COO Larry Larsen, EVP Rob Wingo; IR director Caroline Sardella hosted.
Phase 1 of Socrates entered service with 200 MW delivered; management kept Phase 2 on track for year-end.
Power Innovation financing JV with Blackstone brought $5.34 billion committed capital, including $900 million consideration; capped 6.35% cost of equity.
Momentum Midstream acquisition priced at $5.5 billion; funded with $3.5 billion cash and debt, $2 billion equity; about 8.5x consolidated EBITDA.
2026 adjusted EBITDA guidance lifted to $8.3 billion-$8.5 billion; leverage seen 3.9x at year-end, about 3.75x on run-rate basis.
Long-term EBITDA growth target raised to 11%+ CAGR through 2030; management cited contracted backlog strength, conservative Northeast assumptions.
Two expansions unveiled with Momentum: Shelby Connector up to 750 MMcf/d by 1H 2028, expandable to 1.5 Bcf/d; Delta Access 2.25 Bcf/d early 2029.
WMB•
