Williams FY 2025 net income attributable to shareholders rises 18% to USD 2.6 billion

Williams reported FY 2025 net income attributable to shareholders of USD 2.6 billion (+18%) on total revenues of USD 12.0 billion. Service revenues rose to USD 8.3 billion (+9%), while income from continuing operations was USD 2.8 billion; operating income was USD 4.2 billion. Net cash provided by operating activities increased to USD 5.9 billion, and capital expenditures were USD 4.9 billion; common dividends paid totaled USD 2.4 billion, including a regular quarterly dividend of USD 0.500 per share paid in December 2025. Segment Modified EBITDA in FY 2025 included USD 3.7 billion for Transmission, Power & Gulf (up from USD 3.3 billion), USD 2.0 billion for Northeast G&P (up from USD 2.0 billion), USD 1.2 billion for West (down from USD 1.3 billion, including USD 212 million of impairments/write-offs), and USD 311 million for Gas & NGL Marketing Services (vs. a loss of USD 124 million in 2024). Key FY 2025 updates included multiple expansion projects placed into service, including Transco’s Texas to Louisiana Energy Pathway (April 2025), Southeast Energy Connector (April 2025), Alabama Georgia Connector (October 2025) and Commonwealth Energy Connector (November 2025), plus the Deepwater Whale project (January 2025) and Deepwater Shenandoah project (July 2025). Williams also placed its Louisiana Energy Gateway gathering expansion into service in July–August 2025, adding 1.8 Bcf/d of gathering capacity, and completed the Saber Midstream asset purchase (USD 47 million cash consideration, plus retained debt repaid) and the Rimrock gathering and processing asset purchase (approximately USD 325 million). In October 2025, Williams closed investments totaling USD 378 million to acquire a 10% equity-method stake in Louisiana LNG and an 80% interest in Driftwood Pipeline, and in March 2025 it invested USD 153 million for a minority interest in Cogentrix. Williams said its 2026 growth capital and investment expenditures are expected to range from USD 6.1 billion to USD 6.7 billion, and its board approved a higher quarterly dividend of USD 0.525 per share payable March 30, 2026.

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