Williams Cos. Reports Increased Earnings in 4Q 2025

Pipeline operator sees 19% rise in cash flow from operations and 18% increase in net income.

Published on Feb. 11, 2026

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Williams, a Tulsa-based pipeline company, announced its unaudited financial results for the fourth quarter and full year of 2025. The company reported earnings of 55 cents per share, missing analyst estimates but still representing a 17% increase over the prior year. Williams saw a 19% rise in cash flow from operations to $5.8 billion and an 18% increase in net income to $2.615 billion.

Why it matters

Williams' strong financial performance in 2025 highlights the continued growth and profitability of the company's pipeline operations, which are critical to the nation's energy infrastructure. The results also demonstrate the company's ability to execute on expansion projects and capitalize on rising energy demand.

The details

Williams' fourth-quarter and full-year 2025 net income increased by $248 million and $393 million, respectively, compared to the prior year. Adjusted net income was $2.571 billion or $2.10 per diluted share, up 10%. The company's pipeline operation saw cash flow from operations of $5.8 billion, a 19% increase over 2024. Williams also announced a new "power innovation project" called Socrates the Younger, which will add over $7 billion in capital investment to the company's portfolio.

  • Williams announced its unaudited financial results for the three and 12 months ended Dec. 31, 2025.
  • The company expects 2026 Adjusted EBITDA between $8.05 billion and $8.35 billion.

The players

Williams Cos.

A Tulsa-based pipeline company that operates critical energy infrastructure across the United States.

Chad Zamarin

President and chief executive officer of Williams Cos.

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What they’re saying

“In 2025, Williams delivered record Adjusted EBITDA of $7.75 billion, capping a five‑year Adjusted EBITDA CAGR of 9%, and a five-year EPS CAGR of 14%.”

— Chad Zamarin, President and chief executive officer (okenergytoday.com)

“Today we are announcing 2026 Adjusted EBITDA guidance of $8.2 billion at the midpoint, reflecting the ongoing strong growth of our business as we realize the benefit of pipeline transmission and offshore projects that came online in 2025, as well as expected revenues from a partial year of our first power innovation project that is expected to come online in the second half of 2026.”

— Chad Zamarin, President and chief executive officer (okenergytoday.com)

What’s next

Williams has new pipeline projects underway and the company announced a new "power innovation project" called Socrates the Younger, which will add over $7 billion in capital investment to the company's portfolio.

The takeaway

Williams' strong financial performance in 2025, marked by increased earnings, cash flow, and net income, demonstrates the company's ability to execute on expansion projects and capitalize on rising energy demand. The announcement of a new "power innovation project" also signals the company's commitment to diversifying its energy portfolio and playing a critical role in the nation's energy future.