Williams reports Q3 adjusted EPS below consensus as revenue beats estimates

Williams misses quarterly EPS estimate

Williams Companies reported adjusted earnings of $0.54 per share for the third quarter, below the Zacks Consensus Estimate of $0.55, according to reports published on November 2 and November 3, 2026. The adjusted figure represented a 1.82% earnings surprise and compared with $0.49 per share a year earlier.

Before the earnings release, the quarterly consensus had been $0.52 per share. Williams exceeded that earlier estimate by $0.02 per share, although the actual result remained below the updated consensus.

Revenue rises above consensus

Revenue for the quarter ended September 2026 was $3.22 billion, up from $2.92 billion in the year-earlier quarter and 1.19% above the Zacks Consensus Estimate. Williams has exceeded consensus revenue estimates in two of the past four quarters, compared with one EPS estimate beat over the same period.

The reported EPS figures were adjusted for non-recurring items. The reviewed reports did not provide a GAAP earnings comparison or reconcile the adjusted result to a GAAP measure.

Estimates and market performance

The current consensus calls for adjusted EPS of $0.63 on $3.58 billion of revenue for the coming quarter and $2.56 on $12.99 billion of revenue for the current fiscal year. These are forecasts, not realized results.

Williams shares had gained about 23.7% from the beginning of 2026 through the reporting period, compared with a 10.7% gain for the S&P 500. The source maintained a Zacks Rank #3, or Hold, designation and said the shares were expected to perform in line with the market in the near term.

Industry context and follow-up

Oil and Gas – Production and Pipelines ranked in the bottom 19% of more than 250 Zacks industries at the time of the reports. The company’s earnings call was identified as a potential source of information about the immediate stock reaction and future earnings expectations.

The next verifiable measurement points were management’s earnings-call commentary and any revisions to the coming-quarter and current-fiscal-year consensus estimates after the results.