Filing Flows › Williams Companies (WMB) › Q2 2026 › vs Q1 2026
Williams Companies (WMB) Q2 2026 vs Q1 2026 (quarter over quarter)
Williams Companies's revenue rose $23.0M (+0.8%) from $3.0B in Q1 2026 to $3.1B in Q2 2026. The biggest changes: Revenue from contracts with customers −$1.3B (-28%). Operating margin 38.7% against 43.6% (-4.9 pts).
Williams Companies, Q2 2026: revenue $3.1B (+10% year over year), operating margin 38.7%, net earnings $827M, operating cash flow $1.4B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 38.7% | 43.6% | -4.9 pts |
| Net margin | 27.1% | 28.5% | -1.5 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| NonRegulated Service Monetary Consideration | $1.2B | $1.1B | $8.0M | +0.7% |
| Regulated Service | $925M | $976M | −$51.0M | -5% |
| NonRegulated Service Commodity Consideration | $45.0M | $46.0M | −$1.0M | -2% |
| Other Service | $38.0M | $59.0M | −$21.0M | -36% |
| Service | $2.2B | $2.2B | −$65.0M | -3% |
| Product | $1.2B | $2.5B | −$1.3B | -51% |
| Revenue from contracts with customers | $3.4B | $4.7B | −$1.3B | -28% |
| Revenue | $3.1B | $3.0B | $23.0M | +0.8% |
| Other revenues (net loss) | $326M | $1.7B | −$1.4B | -81% |
| Operating profit | $1.2B | $1.3B | −$139M | -11% |
| Costs & expenses | $1.9B | $1.7B | $162M | +9% |
| Pre-tax earnings | $1.1B | $1.2B | −$20.0M | -2% |
| Other expense, net | $46.0M | $165M | −$119M | -72% |
| General & admin | $180M | $193M | −$13.0M | -7% |
| Other operating costs | $1.7B | $1.5B | $175M | +12% |
| Net earnings | $827M | $865M | −$38.0M | -4% |
| Minority interests | $49.0M | $47.0M | $2.0M | +4% |
| Income tax | $260M | $244M | $16.0M | +7% |
| Depreciation & amortization | $592M | $584M | $8.0M | +1% |
| Share-based compensation | $17.0M | $22.0M | −$5.0M | -23% |
| Working capital & other | $60.0M | −$132M | $192M | — |
| Operating cash flow | $1.4B | $1.6B | −$227M | -14% |
| Capital expenditures | $1.8B | $1.4B | $475M | +35% |
| Negative free cash flow (OCF − capex) | $458M | −$244M | $702M | — |
Questions
How much did Williams Companies's revenue grow quarter over quarter in Q2 2026?
Williams Companies's revenue rose $23.0M (+0.8%) from $3.0B in Q1 2026 to $3.1B in Q2 2026.
What drove Williams Companies's revenue change in Q2 2026?
Revenue from contracts with customers −$1.3B (-28%).