Filing Flows › Williams Companies (WMB) › Q1 2026
Williams Companies (WMB) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Williams Companies (WMB) reported revenue of $3.0B for the first quarter 2026 (Q1 2026), -0.6% from a year earlier and -5% from the quarter before. Operating margin was 43.6%, net earnings $865M (28.5% of revenue).
Williams Companies, Q1 2026: revenue $3.0B (-0.6% year over year), operating margin 43.6%, net earnings $865M, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | -5% | -0.6% |
| Operating profit | $1.3B | +26% | +21% |
| Net earnings | $865M | +18% | +25% |
| Operating cash flow | $1.6B | +2% | +12% |
| Free cash flow | $244M | — | -42% |
What changed
Revenue was $3.0B in Q1 2026, down 1% year over year and down 5% from the previous quarter. Product was the largest line at 82% of revenue. NonRegulated Service Commodity Consideration lost $3.0M year over year (down 6%), 17% of the total change.
Operating profit was $1.3B, a 43.6% margin (up 7.7 points year over year). Total costs fell 13% while revenue fell 1%. Net earnings were $0.86B, up 25% year over year. The effective tax rate was 21.1%.
Operating cash flow was $1.6B (up 12% year over year), 176% of net income including minority interests. Non-cash charges added back $0.58B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.09B. Capital expenditures of $1.4B left free cash flow of $0.24B.
Questions
What was Williams Companies' revenue in the first quarter 2026?
Williams Companies (WMB) reported revenue of $3.0B for the first quarter 2026 (Q1 2026), -0.6% from a year earlier and -5% from the quarter before.
Was Williams Companies profitable in the first quarter 2026?
Operating profit was $1.3B (43.6% of revenue) and net earnings $865M.
Source: Williams Companies 10-Q on SEC EDGAR.