WMB Q1 2025 Earnings
Reported May 5, 2025 at 4:19 PM ET · SEC Source
Q1 25 EPS
$0.60
BEAT +8.44%
Est. $0.55
Q1 25 Revenue
$3.05B
BEAT +3.60%
Est. $2.94B
vs S&P Since Q1 25
0.0%
TRAILING MARKET
WMB +28.9% vs S&P +29.0%
Market Reaction
Did WMB Beat Earnings? Q1 2025 Results
Williams Companies opened 2025 on a strong footing, posting first-quarter adjusted EPS of $0.60 against a consensus estimate of $0.55, an 8.44% beat, while revenue of $3.05 billion topped expectations by 3.60% and climbed 10.0% year-over-year. The pr… Read more Williams Companies opened 2025 on a strong footing, posting first-quarter adjusted EPS of $0.60 against a consensus estimate of $0.55, an 8.44% beat, while revenue of $3.05 billion topped expectations by 3.60% and climbed 10.0% year-over-year. The primary engine behind the results was a $98 million surge in service revenues tied to expansion projects and the Crowheart acquisition completed late last year, which helped lift GAAP net income attributable to common stockholders 9% to $690 million and push cash flow from operations up 16% to $1.43 billion. A notable strategic milestone accompanied the numbers: Williams commercialized Socrates, a $1.60 billion Power Innovation project in Ohio backed by a long-term power purchase agreement serving AI-driven data center demand, underscoring the company's pivot toward secular growth in natural gas infrastructure. The period also brought a leadership transition, with CEO Alan Armstrong set to step down on July 1 and Chad Zamarin moving into the role. Looking ahead, Williams raised its full-year 2025 Adjusted EBITDA guidance midpoint by $50 million to $7.70 billion, with adjusted EPS guided to a midpoint of $2.06.
Key Takeaways
- • $98 million increase in service revenues driven by expansion projects and acquisitions
- • Contributions from Crowheart upstream acquisition completed Q4 2024
- • Higher rates and volumes at Ohio Valley Midstream
- • Higher commodity-based rates at Laurel Mountain Midstream
- • Higher commodity margins and contributions from Overland Pass Pipeline in West segment
- • Favorable net changes in working capital and derivative collateral requirements boosting CFFO
- • Record contracted transmission capacity of 34.3 Bcf/d
WMB YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
“Once again, our base business drove higher earnings for the quarter with recently commissioned Transco projects contributing additional fee-based revenues while our consolidated Crowheart upstream operations also drove growth. As a result of our recent investment in Cogentrix Energy and the continued outperformance of our base business, we are raising our Adjusted EBITDA guidance midpoint by $50 million to $7.7 billion.”
— Alan Armstrong, Q1 2025 Earnings Press Release
WMB Earnings Trends
WMB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WMB EPS Trend
Earnings per share: estimate vs actual
WMB Revenue Trend
Quarterly revenue: estimate vs actual
WMB Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 FY | — | $0.55 | — | — | — |
| FY Full Year | — | $2.10 | — | $11.95B | — |
| Q3 25 | — | $0.49 | — | $2.92B | — |
| Q2 25 MISS | $0.49 | $0.46 | -5.99% | $2.78B | +1.81% |
| Q1 25 BEAT | $0.55 | $0.60 | +8.44% | $3.05B | +3.60% |