WMB

Kinder Morgan (KMI) posted adjusted EPS of $0.39 on $4.51B revenue (+13.64% YoY) with its $10B pipeline backlog 90% natural gas and 60% tied to power generation. Williams Companies (WMB) reported $7.75B adjusted EBITDA (+9%) and is deploying $7B into power innovation projects including the Cogentrix platform and Socrates the Younger, trading at a 34 P/E versus 23 for KMI. Kinder Morgan is doubling down on traditional pipeline infrastructure for LNG exports and power generation, while Williams is pushing further down the value chain into power generation itself to capitalize on the data center power demand boom. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Kinder Morgan didn't make the cut. Grab the names FREE today. Kinder Morgan (NYSE:KMI) and Williams Companies (NYSE:WMB) just closed the books on record 2025 results, and both pipeline operators are pointing the same firehose of capital at LNG exports and data center power demand. The way they are doing it, however, looks quite different. One is leaning on a $10 billion pipeline backlog. The other is buying into power generation itself. Kinder Morgan delivered adjusted EPS of $0.39 against a $0.37 estimate on $4.51 billion in revenue, up 13.64% year over year. CEO Kim Dang credited "record-setting performance in our Natural Gas Pipelines business segment", with transport volumes up 9% and gathering volumes up 19%. The CO2 segment was the weak spot, dragged by softer commodity and D3 RIN prices. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Kinder Morgan didn't make the cut. Grab the names FREE today. Williams, under new CEO Chad Zamarin since July 2025, posted full-year adjusted EBITDA of $7.75 billion, up 9%, and Q4 EPS of $0.55. Transco continues to do the heavy lifting, with Transmission, Power & Gulf adjusted EBITDA of $3.71 billion, a $403 million jump. A $212 million impairment on Mid-Continent gas gathering was a reminder that not every basin is humming. Kinder Morgan is doubling down on what it already does best. Its $10 billion project backlog is roughly 90% natural gas, with about 60% tied to power generation. Trident Intrastate, SSE4, and Mississippi Crossing are all traditional pipeline projects. Dang says "total demand for natural gas is expected to grow by 17% through 2030, led by LNG exports", and KMI already moves...

Ovintiv Inc. OVV reported first-quarter 2026 adjusted earnings per share of $2, which beat the Zacks Consensus Estimate of $1.85. The bottom line also increased from the year-ago level of $1.42. The outperformance was driven by higher plant condensate, natural gas liquids and natural gas production volumes and higher average realized natural gas prices. The Denver, CO-based oil and gas exploration and production company’s total revenues of $2.5 billion increased 6.5% from the year-ago quarter’s figures. The top line also beat the Zacks Consensus Estimate by 9.8%. The outperformance was driven by higher product and service revenues. Ovintiv Inc. price-consensus-eps-surprise-chart | Ovintiv Inc. Quote On May 11, 2026, Ovintiv's board of directors declared a quarterly dividend of 30 cents per share, which will be paid on June 30, to its shareholders of record as of June 15. First-quarter shareholder returns totaled $169 million, consisting of share buybacks of $84 million and base dividend payments of $85 million. During the quarter, the company completed the $2.7 billion acquisition of NuVista Energy Ltd., adding roughly 100 MBOE/d of production, about 930 net equivalent well locations and nearly 140,000 net acres of land. Total first-quarter production was 678,900 barrels of oil equivalent per day (BOE/d) compared with 588,300 BOE/d in the prior-year period. The figure beat our prediction of 675,000 BOE/d. Natural gas production increased to 2,124 million cubic feet per day (MMcf/d) in the first quarter of 2026 from 1,764 MMcf/d in the prior-year quarter. Additionally, the figure beat our estimate of 2,115 MMcf/d. Total liquids production increased to 324.9 thousand barrels per day (Mbbls/d) in the first quarter of 2026 from 294.4 Mbbls/d in the prior-year quarter. Furthermore, the figure beat our prediction of 323 Mbbls/d. In the first quarter of 2026, natural gas contributed approximately 52.1%, and liquids accounted for about 47.9% of the total production. Ovintiv's realized natural gas price was $3.24 per thousand cubic feet compared with the year-ago level of $3.16. The realized oil price decreased to $70.78 per barrel from $71.79 in the prior-year quarter. Total expenses of $3.3 billion increased 33.2% from the year-ago quarter’s figure of $2.5 billion. Moreover, the figure was higher than our projection of $1.7 billion. Ovintiv’s cash from operating ac...

Pembina Pipeline Corporation PBA reported first-quarter 2026 earnings per share of 59 cents, which beat the Zacks Consensus Estimate of 52 cents and increased from the year-ago quarter’s level of 56 cents. This improvement was primarily driven by strong underlying operational performance and volume growth across the Pipelines and Facilities divisions. PBA’s Pipelines and Facilities volumes for the period were 2833 thousand barrels of oil equivalent per day (mboe/d) and 899 mboe/d, respectively, beating the consensus estimates of 2794 mboe/d and 277 mboe/d. This Calgary-based oil and gas storage and transportation company’s quarterly sales of $1.5 billion decreased about 3.5% year over year, caused by weak revenue performance in the Pipelines and Marketing & New Ventures segments. However, the metric beat the Zacks Consensus Estimate by 18.7%. Pembina Pipeline Corp. price-consensus-eps-surprise-chart | Pembina Pipeline Corp. Quote The company’s operating cash flow decreased approximately 60% to C$335 million. Adjusted EBITDA decreased 3% year over year to C$1.1 billion. Pembina Pipeline’s board of directors declared a quarterly cash dividend of 73.5 Canadian cents per share, representing an increase of approximately 3.5 percent, to its common shareholders of record as of June 15. The payout will be made on June 30, 2026. Near the end of the first quarter of 2026, the company successfully commissioned the Wapiti Expansion, both on schedule and within budget, which added 115 million cubic feet per day of natural gas processing capacity at the Wapiti Plant and the 28-megawatt K3 Cogeneration Facility at PGI’s K3 Plant. In the first quarter, the oil and gas storage and transportation company witnessed volumes of 4,083 mboe/d compared with 4,073 mboe/d reported in the prior-year quarter. Pipelines: Adjusted EBITDA of C$647 million decreased about 4.4% from the year-ago quarter’s level. This was caused primarily by lower net revenues on the Alliance Pipeline (C$26 million) due to the negotiated settlement between Alliance and its shippers and higher interruptible volumes on the Cochin Pipeline due to wider condensate price differentials. Volumes in this segment saw a 0.9% year-over-year increase to 2,833 mboe/d. Facilities: Adjusted EBITDA of C$363 million increased from the year-ago quarter’s C$345 million, driven primarily by a higher contribution from certain PG...

Marathon Petroleum Corporation MPC reported first-quarter 2026 adjusted earnings per share of $1.65, which beat the Zacks Consensus Estimate of 72 cents. Moreover, the bottom line increased significantly from the year-ago adjusted loss of 24 cents. The outperformance was driven by stronger-than-expected Refining & Marketing segment performance. The Findlay, OH-based oil and gas refining and marketing company reported revenues of $34.6 billion, which beat the Zacks Consensus Estimate of $30.3 billion. Moreover, the top line increased 8.5% year over year, reflecting higher sales and other operating revenues, along with higher revenues from other income. Marathon Petroleum Corporation price-consensus-eps-surprise-chart | Marathon Petroleum Corporation Quote The company distributed approximately $1 billion to its shareholders during the first quarter and ended the quarter with $3.6 billion of capacity remaining under its share repurchase authorizations as of March 31, 2026. MPC also announced an incremental $5 billion share repurchase authorization. With the addition of this new authorization, the company will have $8.6 billion available under its share repurchase authorizations as of March 31, 2026. Refining & Marketing: The Refining & Marketing segment reported adjusted EBITDA of $1.4 billion, up approximately 181.6% from the year-ago figure of $489 million, and the figure surpassed the consensus estimate by 51%. The refining margin improved to $17.74 per barrel from $13.38 in the prior-year quarter, primarily reflecting stronger crack spreads. Moreover, the figure beat the consensus estimate by 10.3%. Refining capacity utilization for the quarter was 89%, in line with the year-ago period. Midstream: This unit mainly reflects Marathon Petroleum’s general partner and majority limited partner interests in MPLX — a publicly traded master limited partnership that owns, operates, develops and acquires pipelines and other midstream assets. The segment reported adjusted EBITDA of $1.6 billion, down from the year-ago figure of $1.7 billion. The figure also missed the consensus estimate by 2.7%. Marathon Petroleum reported expenses of $33.2 billion in the first quarter of 2026, up from $31.2 billion reported in the year-ago quarter. In the reported quarter, Marathon Petroleum spent $1.2 billion on capital programs (26% on Refining & Marketing and 71% on the Midstream s...

The Williams Companies, Inc. WMB reported first-quarter 2026 adjusted earnings per share of 73 cents, which beat the Zacks Consensus Estimate of 65 cents. The bottom line increased from the year-ago period’s level of 60 cents, driven mainly by a 12.5% decrease in costs and expenses. Moreover, better-than-expected performance of its Transmission, Power & Gulf, Northeast G&P, West and Gas & NGL Marketing Services segments also contributed, with increases of 17.2%, 1.9%, 15.8% and 46.5%, respectively, from the year-ago quarter’s level. The Tulsa, OK-based oil and gas storage and transportation company’s revenues of $3 billion missed the Zacks Consensus Estimate of $3.3 billion. The figure decreased marginally by 0.6% from the year-ago quarter’s reported revenues. This can be attributed to lower service revenues tied to commodity contracts and an increased loss from commodity derivative instruments. Williams Companies, Inc. (The) price-consensus-eps-surprise-chart | Williams Companies, Inc. (The) Quote Adjusted EBITDA totaled $2.3 billion in the quarter under review, which was up 13.3% year over year. Cash flow from operations amounted to $1.6 billion, up 12% from the corresponding quarter of 2025. Transmission, Power & Gulf: The segment reported an adjusted EBITDA of $1 billion, up 17.2% from the year-ago quarter’s level. The increase was driven by contributions from Transco’s higher net rates and expansion projects, new Gulf volumes associated with Shenandoah, Whale and Ballymore, and higher storage revenues due to winter storms and higher rates. However, the figure missed the Zacks Consensus Estimate by 0.8%. Northeast G&P: Driven primarily by higher volumes at Ohio Valley Midstream and higher gathering volumes and rates at Bradford within Appalachia Midstream, this segment registered an adjusted EBITDA of $524 million. This represents a 1.9% increase from $514 million in the year-earlier quarter. It beat the Zacks Consensus Estimate of $513 million. West: This segment focuses on the gathering and processing of assets in the Western United States. Adjusted EBITDA for this segment totaled $410 million, up 15.8% from the prior-year quarter’s level of $354 million. Strong results were fueled by Louisiana Energy Gateway, which was placed into service, as well as higher gathering volumes, including contributions from the 2025 Rimrock and Saber acquisitions. Moreov...

Image source: The Motley Fool. Tuesday, May 5, 2026 at 9:30 a.m. ET President and Chief Executive Officer — Chad Zamarin Chief Financial Officer — John Porter Executive Vice President, Transmission & Gulf of Mexico — Larry Larsen President, Gas & NGL Marketing Services — Robert Wingo Chad Zamarin: Thanks, Danilo, and thank you all for joining us today. We're off to a great start in 2026. Our teams delivered another quarter of growth. We advanced our critical pipe and power projects in execution, and we commercialized 3 new major projects and upsized a fourth. First quarter earnings per share grew by 22% and adjusted EBITDA grew 13% to a record $2.25 billion. Our momentum continues to build, demonstrating the scalability of our strategy, the ongoing strength of our assets and the growing contribution from our expansion projects. Our teams continue to execute high-return expansions at a steady pace while adding new projects to our robust backlog. And during the quarter, we made consistent progress across our projects in execution. Most notably, we placed the Naughton Coal Conversion project into service, a critical milestone that again demonstrates how we help customers transition to cleaner burning natural gas while maintaining affordability and grid reliability. We also kicked off construction on NESE, the Northeast Supply Enhancement project and SESE, the Southeast Supply Enhancement project. Moving these large-scale pipeline projects into the construction phase is a testament to our team's ability to navigate complex permitting to deliver the infrastructure our country so desperately needs. I'm also excited to report that we have now placed on foundation all of the turbines at our Socrates Plato South location. In addition, we've completed construction on the first phase of the Aristotle pipeline, which will serve as a natural gas energy artery for several of our power innovation projects in Ohio, including Socrates. And we aren't slowing down. We continue to sign new deals at attractive multiples that will drive growth through the end of the decade and beyond and help us achieve the 10-plus percent earnings CAGR we set out at Analyst Day. Based on the strong start to the year and our visibility into the remainder of the year, we are currently pointing toward the upper half of our full year EBITDA guidance, as John will detail shortly. Looking forward, we...

Williams Companies, Inc. (The) (WMB) came out with quarterly earnings of $0.73 per share, beating the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.6 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +13.18%. A quarter ago, it was expected that this pipeline operator would post earnings of $0.58 per share when it actually produced earnings of $0.55, delivering a surprise of -5.17%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. The Williams Companies, which belongs to the Zacks Oil and Gas - Production and Pipelines industry, posted revenues of $3.03 billion for the quarter ended March 2026, missing the Zacks Consensus Estimate by 9.36%. This compares to year-ago revenues of $3.05 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. The Williams Companies shares have added about 25.7% since the beginning of the year versus the S&P 500's gain of 5.6%. While The Williams Companies has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for The Williams Companies was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the n...

Achieved record first quarter results driven by strong performance in Transmission and Gulf businesses, with Transco benefiting from higher tariff rates and expansion projects. Advanced the Power Innovation strategy by commercializing three major new projects, including Neo, the company's largest behind-the-meter power project to date. Successfully navigated complex permitting environments to move large-scale pipeline projects like NESE and SESE into the construction phase. Leveraged the natural gas grid's inherent compressibility to provide efficient backup energy solutions for data centers, displacing traditional diesel generation. Capitalized on the scalability of the existing footprint to upsize the Power Express project in Virginia, responding to rapid market growth and customer demand. Maintained a robust project backlog that supports a 10-plus percent earnings CAGR through the end of the decade. Observed a strong supply response across the gathering and processing portfolio, sanctioning roughly 700 million cubic feet per day of new expansion projects. Projecting full-year EBITDA toward the upper half of the original guidance range based on strong Q1 momentum and visibility into the remainder of the year. Anticipating seasonally lower EBITDA in Q2 followed by sequential growth in the second half of 2026, supported by the partial startup of the Socrates facility. Increased 2026 growth CapEx midpoint to $7.3 billion to accommodate the execution of five high-quality, fast-cycle power innovation projects. Expecting leverage to move modestly above the 3.5x to 4x target range in 2026 and 2027 before historic earnings growth in 2028 naturally deleverages the balance sheet. Targeting an early 2030 in-service date for the Silver Spur expansion, representing the first major pipeline infrastructure expansion in the Pacific Northwest in over two decades. Announced plans to divest the Cogentrix investment later in 2026 as part of ongoing portfolio optimization. Completed the divestiture of upstream Haynesville assets in January 2026, resulting in a book gain of approximately $180 million. Identified balance sheet leverage tightness as a temporary dynamic through 2027, with multiple financing options being evaluated to manage the transition. Continuing to advocate for federal permitting and judicial reform to mitigate the risk of project delays caused by state-level...

Williams (WMB) reported Q1 adjusted earnings late Monday of $0.73 per diluted share, up from $0.60 a

For the quarter ended March 2026, Williams Companies, Inc. (The) (WMB) reported revenue of $3.03 billion, down 0.6% over the same period last year. EPS came in at $0.73, compared to $0.60 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $3.34 billion, representing a surprise of -9.36%. The company delivered an EPS surprise of +13.18%, with the consensus EPS estimate being $0.65. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how The Williams Companies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Northeast G&P - Gathering volumes: 4.01 Bcf/D versus 4.10 Bcf/D estimated by two analysts on average. West - NGL equity sales: 7 millions of barrels of oil versus the two-analyst average estimate of 7.21 millions of barrels of oil. West - Gathering volumes: 6.37 Bcf/D compared to the 6.67 Bcf/D average estimate based on two analysts. Adjusted EBITDA- Other: $83 million compared to the $70.72 million average estimate based on three analysts. Adjusted EBITDA- Northeast G&P: $524 million compared to the $513.24 million average estimate based on three analysts. Adjusted EBITDA- Transmission, Power & Gulf: $1.01 billion versus the three-analyst average estimate of $1.02 billion. Adjusted EBITDA- Gas & NGL Marketing Services: $227 million versus $149.61 million estimated by three analysts on average. Adjusted EBITDA- West: $410 million compared to the $388.51 million average estimate based on three analysts. Modified EBITDA- Transmission, Power & Gulf: $1.01 billion versus $1.04 billion estimated by two analysts on average. Modified EBITDA- West: $407 million versus $389.26 million estimated by two analysts on average. Modified EBITDA- Northeast G&P: $524 million compared to the $512.86 million average estimate based on two analysts. View all Key Company Metrics for The Williams Companies here>>> Shares of The Williams Compa...

Image source: The Motley Fool. Tuesday, Nov. 4, 2025 at 9:30 a.m. ET President and CEO — Chad Zamarin Chief Financial Officer — John Porter Executive Vice President, Transmission & Gulf of Mexico — Larry Larsen Senior Vice President, Corporate Development — Robert Wingo General Counsel — Lane Wilson Need a quote from a Motley Fool analyst? Email [email protected] Chad Zamarin: Thanks, Danilo, and thank you for joining us today. We're excited to share the strong progress we've made and the tremendous opportunities ahead for Williams. So let's begin on Slide 2. We're strengthening our core business with delivered expansion projects while extending our backlog of highly attractive new opportunities that will drive ongoing growth. Starting with completed transmission projects, we recently placed Northwest Pipeline's Stanfield South project in service and completed Transco's Alabama, Georgia Connector and Commonwealth Energy Connector expansion projects. Importantly, on Transco, we are increasing pipeline capacity by nearly 200,000 dekatherms per day, which will provide access to additional natural gas supplies to increase reliability and affordability during the upcoming heating season. We've also recently completed Shenandoah and Salamanca, 2 important deepwater expansion projects. And in the Haynesville, our most recent expansion was brought online, which increases basin gathering and takeaway capacity as we prepare for the rapid growth in LNG exports alongside power demand growth within the Gulf Coast and Southeast regions. We recently announced 2 transmission projects, the Wharton West expansion on Transco in South Texas and the Green River West Expansion on Mountain West in Southwest Wyoming. Additionally, we signed customer agreements for our 10 Bcf expansion at our Pine Prairie storage facility in Louisiana. These milestones demonstrate our ongoing ability to advance projects across our nationwide transmission and storage footprint. With respect to strategic investments, we're advancing our wellhead to water strategy through a strategic LNG partnership and a complementary asset divestiture. We recently announced that we have signed agreements to sell our interest in our Haynesville upstream asset to JERA for $398 million plus deferred payments through 2029. Under JERA's ownership, Williams will continue to gather production and deliver volumes through our LEG s...

TULSA, Okla., May 04, 2026--(BUSINESS WIRE)--Williams (NYSE: WMB) today announced its unaudited financial results for the three months ended March 31, 2026. Natural gas-focused strategy continues to drive key financial results GAAP net income: $864 million, or $0.70 per diluted share (EPS), up 25% vs. 1Q 2025 Adjusted net income: $895 million, or $0.73 per diluted share (Adj. EPS), up 23% and 22%, respectively, vs. 1Q 2025 Adjusted EBITDA: $2.254 billion, up $265 million or 13% vs. 1Q 2025 Cash flow from operations (CFFO): $1.603 billion, up $170 million or 12% vs. 1Q 2025 Available funds from operations (AFFO): $1.770 billion, up $325 million or 22% vs. 1Q 2025 Dividend coverage ratio: 2.76x (AFFO basis) On track to deliver Adjusted EBITDA in upper half of 2026 guidance range Disciplined execution drives business growth, advances projects and optimizes portfolio Signed customer agreement on Neo, a $2.3 billion behind-the-meter power innovation project with 682 megawatts of installed capacity Signed natural gas infrastructure agreement for Atlas, providing up to 164 MMcf/d of capacity to Northeast data center Signed customer agreements on Silver Spur transmission project, a 275 MMcf/d expansion on Northwest Pipeline Announced ~700 MMcf/d of gathering expansions in Marcellus and Haynesville Upsized Transco's Power Express project, increasing capacity to 750 MMcf/d Started construction on Transco's Northeast Supply Enhancement and Southeast Supply Enhancement projects Placed in service Northwest Pipeline's Naughton Coal Conversion and received notice to proceed on Northwest Pipeline's Wild Trail project Commissioned Aristotle pipeline for Plato South power innovation facility Closed on sale of South Mansfield upstream JV and Anadarko gathering CEO Perspective Chad Zamarin, president and chief executive officer, made the following comments: "Williams delivered a strong first quarter, supported by the ongoing success of our natural gas-focused strategy and the performance of our premier assets. First-quarter GAAP net income increased 25% year-over-year to $864 million, and Adjusted EBITDA grew 13% year-over-year to $2.254 billion – driven by Transco’s expansion projects, new Gulf volumes, higher storage revenues and higher gathering volumes in the West." "Our teams continue to execute at an excellent pace on transmission expansions while adding to our portfolio...