Core Insights - Williams Companies, Inc. (WMB) is a significant player in the energy sector, focusing on natural gas processing and transportation, and providing essential infrastructure for energy delivery [1] - The company reported earnings on November 3, 2025, with an EPS of $0.49, slightly below the expected $0.51, but exceeded revenue expectations with approximately $2.92 billion against an estimated $2.88 billion [2][6] - WMB's financial metrics indicate a P/E ratio of 29.69, a price-to-sales ratio of 6.43, and an enterprise value to sales ratio of 8.90, reflecting strong market confidence and premium valuation [3] - The company's earnings yield stands at 3.37%, but a debt-to-equity ratio of 2.30 indicates a higher reliance on debt, and a current ratio of 0.54 suggests challenges in covering short-term liabilities [4] - Overall, WMB's robust third-quarter results highlight its strong performance in the energy sector, with strategic growth initiatives positioning it well for future success despite some financial challenges [5]

Williams (NYSE: WMB) reported a 13% year-over-year increase in adjusted EBITDA to $1.92 billion for the third quarter of 2025, driven by new capacity on its Transco pipeline and higher Gulf of Mexico volumes. Despite the strong operational performance, higher financing and maintenance costs tempered net income growth, with GAAP earnings of $646 million, down from $728 million a year earlier. Adjusted earnings per share rose 14% to $0.49, supported by higher service revenues and expanding midstream through ...

Core Insights - Williams Companies missed Wall Street estimates for third-quarter profit due to higher interest and maintenance costs, which offset gains from increased service revenues [1] Financial Performance - The company reported a profit that fell short of analysts' expectations, indicating challenges in managing costs despite revenue growth [1] Cost Analysis - Higher interest expenses and maintenance costs were significant factors impacting profitability, suggesting a need for improved cost management strategies [1] Revenue Growth - The increase in service revenues highlights potential growth areas for the company, although it was not sufficient to counterbalance the rising costs [1]

Financial Performance - Net income attributable to The Williams Companies, Inc. for the nine months ended September 30, 2025, increased by $145 million compared to the same period in 2024[202]. - Net income attributable to The Williams Companies, Inc. for the three months ended September 30, 2025, was $647 million, a decrease of $59 million, or 8%, compared to $706 million in 2024[242]. - Operating income for the three months ended September 30, 2025, was $1,109 million, an increase of $271 million compared to $838 million in 2024[242]. - Total revenues for the nine months ended September 30, 2025, reached $8,752 million, an increase of $992 million, or 13%, compared to $7,760 million in 2024[242]. - Service revenues for the three months ended September 30, 2025, increased by $210 million, or 11%, compared to the same period in 2024, driven by expansion projects[241]. - Total revenues for the Transmission, Power & Gulf segment reached $1,392 million in Q3 2025, compared to $1,170 million in Q3 2024, a 19% increase[266]. - The company reported a $208 million increase in Transco's revenues due to expansion projects and transportation rate increases[269]. - Net income for Transco was $1,045 million, reflecting a $49 million increase or 5% growth compared to 2024[296]. - Total revenues for Transco reached $2,405 million, a $217 million increase from 2024, with natural gas transportation service revenues up by $185 million[296]. Capital Expenditures and Investments - Williams' growth capital and investment expenditures in 2025 are expected to range from $3.95 billion to $4.25 billion, excluding acquisitions[223]. - Growth capital and investment expenditures for 2025 are expected to range from $3.95 billion to $4.25 billion, focusing on Power Innovation projects and expansions in the Haynesville Shale basin[311]. - In June 2025, Williams acquired Saber for $47 million in cash and retained $113 million of Saber’s debt, which was repaid in full within the same month[313]. Expansion Projects - The Louisiana Energy Gateway expansion project is expected to increase natural gas gathering capacity by 1.8 Bcf/d[220]. - Transco's capacity increased by 105 Mdth/d with the Commonwealth Energy Connector project placed into service in November 2025[213]. - The ongoing expansion projects include the Overthrust Westbound Compression Expansion, expected to increase capacity by 325 Mdth/d[224]. - The project Power Express is expected to increase capacity by 689 Mdth/d and is planned to be placed into service as early as the third quarter of 2030[229]. - The Northeast Supply Enhancement project is expected to increase capacity by 400 Mdth/d and is planned to be placed into service as early as the fourth quarter of 2027[231]. - The Dalton Lateral II project is expected to increase capacity by up to 460 Mdth/d and is planned to be placed into service as early as the fourth quarter of 2029[232]. - Williams plans to place the Pine Prairie Phase IV Expansion project into service during the fourth quarter of 2028, increasing working gas storage capacity by 10 Bcf[225]. - The Kelso-Beaver Reliability project is expected to increase capacity by 183 Mdth/d and is planned to be placed into service during the fourth quarter of 2028[235]. - The Power Innovation project in Ohio is expected to provide a combined 400 megawatts of committed onsite power generation capacity and is planned to be placed into service in the second half of 2026[238]. Segment Performance - Service revenues for the Transmission, Power & Gulf segment increased to $1,237 million in Q3 2025 from $1,072 million in Q3 2024, representing a 15.4% increase[266]. - Modified EBITDA for the Transmission, Power & Gulf segment rose to $973 million in Q3 2025, up from $811 million in Q3 2024, reflecting a 20% increase[267]. - Northeast G&P segment service revenues increased to $499 million in Q3 2025 from $475 million in Q3 2024, a growth of 5.1%[270]. - West segment revenues increased to $712 million in Q3 2025 from $663 million in Q3 2024, marking a 7.4% increase[270]. - The Northeast G&P segment's Modified EBITDA increased to $505 million in Q3 2025 from $476 million in Q3 2024, a rise of 6.1%[271]. - The West segment's Modified EBITDA increased to $342 million in Q3 2025 from $323 million in Q3 2024, reflecting a 5.9% increase[270]. Debt and Liquidity - Williams issued $3 billion of long-term debt and retired $1.5 billion of long-term debt during the first nine months of 2025[312]. - As of September 30, 2025, Williams had a working capital deficit of $3.106 billion, with cash and cash equivalents of $70 million[317]. - Williams' long-term debt due after one year amounts to approximately $25.6 billion, with potential liquidity sources including cash generated from operations and refinancing[316]. - The quarterly cash dividend was increased from $0.475 per share in 2024 to $0.50 per share in the first three quarters of 2025[318]. Risk Management - The fair value of commodity derivative liabilities at September 30, 2025, was $(288) million, with significant amounts maturing in 2025 and 2026-2027[330]. - The Value at Risk (VaR) for Williams' integrated natural gas trading operations was $6 million as of September 30, 2025, compared to $4 million at December 31, 2024[334]. - The average VaR for the nine months ended September 30, 2025, was $8 million, with a high of $18 million and a low of $4 million[334]. - The VaR associated with Williams' non-trading portfolio, primarily consisting of commodity derivatives, was $2 million at September 30, 2025, down from $8 million at December 31, 2024[334]. - The average VaR for the non-trading portfolio for the nine months ended September 30, 2025, was $9 million, with a high of $18 million and a low of $2 million[334]. - Williams maintains a relatively small risk exposure as total buy volume is close to sell volume, resulting in minimal open natural gas price risk[334]. - Williams employs daily risk testing, utilizing both VaR and stress testing to evaluate the risk of its positions[332]. - The company's open exposure is managed according to established policies that limit market risk and require daily reporting of predicted financial loss to management[332]. - Williams generally mitigates its open exposure by managing physical gas assets and hedging in the futures markets[332]. - The VaR is calculated using parametric models with 95 percent confidence intervals and one-day holding periods[332]. - Williams actively monitors open commodity marketing positions and the resulting VaR[334].

Exhibit 99.1 News Release Williams (NYSE: WMB) One Williams Center Tulsa, OK 74172 800-Williams www.williams.com DATE: Monday, Nov. 3, 2025 media@williams.com (800) 945-8723 MEDIA CONTACT: INVESTOR CONTACTS: Danilo Juvane (918) 573-5075 Caroline Sardella (918) 230-9992 Williams Delivers Strong Third-Quarter 2025 Results TULSA, Okla. – Williams (NYSE: WMB) today announced its unaudited financial results for the three and nine months ended Sept. 30, 2025. Natural gas focused strategy continues to drive key fi ...

Core Viewpoint - The Williams Companies, Inc. is set to report its third-quarter earnings on November 3, 2025, with analysts predicting an earnings per share (EPS) of $0.51 and revenue of approximately $2.88 billion, reflecting significant year-over-year growth [1][2][5] Financial Performance - The anticipated EPS of $0.51 represents an 18.6% increase from the previous year, driven by the performance of the Transmission & Gulf of Mexico unit, particularly Transco and deepwater projects [2][5] - Revenue is expected to reach $2.88 billion, indicating a 14.4% rise year-over-year [5] Financial Ratios - The company has a price-to-earnings (P/E) ratio of approximately 29.11, suggesting a strong investor willingness to pay for earnings [3][5] - The price-to-sales ratio is about 6.30, reflecting the market value relative to revenue [3] - The enterprise value to sales ratio stands at around 8.77, indicating total value compared to sales [3] Debt and Liquidity Metrics - The debt-to-equity ratio is approximately 2.30, highlighting the proportion of debt used to finance assets relative to shareholders' equity [4][5] - The current ratio is around 0.54, suggesting the company's ability to cover short-term liabilities with short-term assets [4]

Earnings Reports - Williams Companies Inc (NYSE:WMB) is expected to report quarterly earnings of 51 cents per share on revenue of $2.89 billion [2] - Spirit AeroSystems Holdings Inc (NYSE:SPR) reported a loss of $4.87 per share with quarterly sales of $1.585 billion, missing the analyst consensus estimate of $1.923 billion [2] - Goodyear Tire & Rubber Co. (NASDAQ:GT) is anticipated to post quarterly earnings of 19 cents per share on revenue of $4.67 billion [2] - IDEXX Laboratories Inc. (NASDAQ:IDXX) is projected to report quarterly earnings of 3.13 per share on revenue of $1.07 billion [2] - ON Semiconductor Corp. (NASDAQ:ON) is expected to post quarterly earnings of 59 cents per share on revenue of $1.51 billion [2] Stock Performance - Williams shares rose 0.4% to close at $57.87 on Friday [2] - Spirit AeroSystems shares gained 1% to close at $36.69 on Friday [2] - Goodyear Tire shares rose 0.6% to $6.93 in after-hours trading [2] - IDEXX Laboratories shares rose 0.9% to $634.89 in after-hours trading [2] - ON Semiconductor shares gained 0.7% to $50.44 in after-hours trading [2]

Core Viewpoint - The focus on dividend stocks is increasing as the U.S. Federal Reserve announced another rate cut, prompting investors to consider stocks that offer dividends and potential capital appreciation for enhanced total returns [1] Valero Energy (VLO) - Valero Energy returned $1.3 billion to stockholders in Q3 2025, comprising $351 million in dividends and $931 million in share repurchases [3] - The company declared a quarterly dividend of $1.13 per share, resulting in an annualized dividend of $4.52 and a yield of 2.7% [3] - Goldman Sachs analyst Neil Mehta reiterated a buy rating on VLO and raised the price target to $197 from $180, citing strong refining margins and a constructive refining outlook [4] - Management's focus on capital returns and excess free cash flow allocation is expected to support approximately $4.6 billion in capital returns in 2026, implying a 9% capital return yield [6] Albertsons Companies (ACI) - Albertsons reported strong second-quarter results for fiscal 2025, driven by robust pharmacy sales and digital business [7] - The company announced a quarterly dividend of 15 cents per share, with an annualized dividend of 60 cents per share, yielding 3.3% [7] - Tigress Financial analyst Ivan Feinseth reiterated a buy rating on ACI and increased the price target to $29 from $28, highlighting growth through AI-powered digital sales and a high-margin retail media platform [8] - ACI's loyalty program, For U, saw membership increase by over 13% year-over-year, enhancing digital engagement and spending growth [10] - Albertsons is enhancing shareholder returns through ongoing dividend increases and a $750 million accelerated share repurchase authorization [11] Williams Companies (WMB) - Williams announced a quarterly cash dividend of 50 cents per share, reflecting a 5.3% year-over-year increase, with an annualized dividend of $2 per share and a yield of 3.5% [12] - RBC Capital analyst Elvira Scotto reiterated a buy rating on WMB with a price forecast of $75, citing the need for more energy infrastructure driven by rising power demand [13] - Scotto expects WMB to achieve a CAGR of about 10% in EBITDA from 2025 through 2030, with significant growth anticipated in Q3 2025 across all business segments [14] - The upcoming February analyst day is viewed as a potential catalyst for WMB, with expectations of an increase in EBITDA growth targets [15]

Core Viewpoint - The Williams Companies, Inc. (WMB) is expected to report third-quarter 2025 results on November 3, with a consensus estimate of earnings at 51 cents per share and revenues at $3.1 billion [1][8]. Group 1: Previous Quarter Performance - In the last reported quarter, WMB missed the consensus earnings estimate, reporting adjusted earnings per share of 46 cents against an expected 49 cents, and revenues of $2.8 billion, which fell short by $277 million due to underperformance in the Gas & NGL Marketing Services segment [2]. - WMB has beaten the Zacks Consensus Estimate for earnings in three of the last four quarters, with an average earnings surprise of 2.5% [3]. Group 2: Upcoming Quarter Expectations - The Zacks Consensus Estimate for the third-quarter earnings indicates an 18.6% year-over-year increase, while revenues are expected to rise by 14.8% compared to the previous year [3]. - The Transmission & Gulf of Mexico unit, particularly the Transco project, is anticipated to drive growth, with an estimated adjusted EBITDA of $946 million, reflecting a 14% increase from the previous year's $830 million [4]. Group 3: Cost Considerations - Rising costs and inflation are expected to negatively impact results, with total costs and expenses in the second quarter reported at $1.8 billion, a nearly 12% increase from the previous year [5][8]. Group 4: Earnings Prediction Model - The earnings prediction model suggests a potential earnings beat for WMB, supported by a positive Earnings ESP of +1.03% and a Zacks Rank of 3 [6][7][9].

Core Viewpoint - Williams has announced a quarterly cash dividend, indicating a commitment to returning value to shareholders and reflecting the company's financial health [1] Group 1 - The company has declared a cash dividend for the quarter, which is a positive signal for investors [1] - This announcement may enhance investor confidence and attract potential investors looking for dividend-paying stocks [1]