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Close of Nov 06, 2026 · end-of-day data
WMB 8-K filings in 2025
Every material Form 8-K Williams Companies filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Northwest Pipeline LLC, a Williams subsidiary, entered a Credit Agreement with PNC Bank, National Association, as administrative agent, and borrowed $250 million on December 1, 2025. The proceeds are being used to refinance its 7.125% senior notes due December 1, 2025, with the rest available for working capital, acquisitions, capital expenditures and general corporate purposes. The agreement requires a debt-to-capitalization ratio of no greater than 65%, tested each fiscal quarter.
$250 million borrowed as term loans on December 1, 2025
Term loans mature on the third anniversary of the December 1, 2025 effective date
Interest is based on Term SOFR or the Alternate Base Rate, plus an applicable rate tied to senior unsecured debt ratings
Debt-to-capitalization covenant of no greater than 65%, tested at the end of each fiscal quarter
Transcontinental Gas Pipe Line Company, an indirect wholly owned subsidiary of Williams Companies, completed a private offering on November 20, 2025 of $1.0 billion of 5.100% senior notes due 2036 and $700 million of 5.750% senior notes due 2056. The notes are senior unsecured obligations, so the filing adds new debt for the subsidiary, and the filing does not state how the proceeds will be used.
$1.0 billion of 5.100% senior notes due March 15, 2036, priced at 99.936% of par
$700 million of 5.750% senior notes due March 15, 2056, priced at 99.413% of par
Interest is paid semi-annually from March 15, 2026; notes rank equally with other senior unsecured debt
Company agreed to complete an exchange offer within 365 days after November 20, 2025
Williams reported third-quarter 2025 results with adjusted EBITDA of $1.920 billion, up 13% from a year earlier, and total revenues of $2.923 billion, up from $2.653 billion. GAAP net income available to common stockholders fell to $646 million, or $0.53 per diluted share, from $705 million, or $0.58, a year earlier, and the company reaffirmed its 2025 adjusted EBITDA guidance midpoint of $7.75 billion while raising its 2025 growth capital budget by $500 million.
Adjusted EBITDA was $1.920 billion, up $217 million or 13% from third quarter 2024; adjusted EPS was $0.49, up 14%.
GAAP net income was $646 million ($0.53 per diluted share), down from $705 million ($0.58) a year earlier, including a $25 million compression asset write-off.
Cash flow from operations rose 16% to $1.439 billion; AFFO rose 13% to $1.449 billion.
2025 adjusted EBITDA guidance midpoint of $7.75 billion was reaffirmed; 2025 growth capex was increased by $500 million to between $3.95 billion and $4.25 billion for the Louisiana LNG project with Woodside Energy.
Williams reported second-quarter 2025 GAAP net income of $546 million, or $0.45 per diluted share, compared with $401 million, or $0.33 per share, a year earlier. The company raised the midpoint of its 2025 Adjusted EBITDA guidance by $50 million to $7.75 billion, citing Transco expansion projects and new Gulf volumes. For shareholders, the higher guidance and a dividend increase to $2.00 for 2025 indicate improved expected earnings and returns.
GAAP net income was $546 million, or $0.45 per diluted share, versus $401 million, or $0.33, in second-quarter 2024.
Adjusted EBITDA was $1.808 billion, up $141 million or 8% from second-quarter 2024.
2025 Adjusted EBITDA guidance midpoint raised by $50 million to $7.75 billion, within a range of $7.6 billion to $7.9 billion.
Dividend increased 5.3% on an annualized basis to $2.00 in 2025 from $1.90 in 2024.
On June 30, 2025, Williams completed a registered offering of $750 million of 4.625% Senior Notes due 2030 and $750 million of 5.300% Senior Notes due 2035, totaling $1.5 billion. The notes are senior unsecured obligations and carry covenants limiting liens and certain mergers or asset sales, which adds long-term debt to the company's balance sheet.
Offering: $750 million of 4.625% notes due 2030 and $750 million of 5.300% notes due 2035
2030 notes pay interest semi-annually on June 30 and December 30, starting December 30, 2025
2035 notes pay interest semi-annually on March 30 and September 30, starting September 30, 2025
Company may redeem the 2030 notes before May 30, 2030 and the 2035 notes before June 30, 2035 at a make-whole premium
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Williams Companies filing is on SEC EDGAR ↗. 8-K briefs of other companies →