The Williams Companies, Inc. (WMB) Revenue by Segment

Williams Companies revenue by segment at a glance

In Q2 fiscal 2026 (the quarter ended June 30, 2026), Williams Companies's largest business segment was Transmission, Power & Gulf, with $1.37 billion or 37% of revenue, up 5.1% from a year earlier. Next: Gas & NGL Marketing Services (29%), West (19%) and Northeast G & P (14%).

By product or service, Product brought in 36%, NonRegulated Service Monetary Consideration brought in 34% and Regulated Service brought in 27% of revenue in Q2 fiscal 2026.

By region, West Midstream brought in 40%, Transco brought in 28% and Northeast Midstream brought in 18% of revenue in Q2 fiscal 2019.

The fastest-growing business segment from a year earlier was West (+7.3%).

From company filings, in USD; latest quarter ended June 30, 2026; quarterly data from Q3 fiscal 2017.

The Williams Companies, Inc.

WMBEnergy

United States

Energy

Revenue breakdown

Fiscal quarters, from company filings

Segments by quarter (USD)

Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i

WestGas & NGL Marketing ServicesTransmission and Gulf of MexicoNortheast G and PTransmission, Power & GulfAtlantic GulfNortheast G & PTransmission and Gulf of AmericaOther

Q2 FY26 breakdown

Fiscal quarter ended Jun 30, 2026

Item	Revenue	Share	vs year before
Transmission, Power & Gulf	USD 1.37B	36.8%	+5.1%
Gas & NGL Marketing Services	USD 1.10B	29.4%	-9.6%
West	USD 724.00M	19.4%	+7.3%
Northeast G & P	USD 534.00M	14.3%	+0.9%
All other segments - Corporate and otheri	USD 138.00M		+0.7%
Intersegment eliminationsi	-USD 482.00M		–

Sum of items USD 3.72B; corporate items and eliminations -USD 344.00M. Shares are of the items shown. Click an item with › to see its parts.

Also reported by:

All periods

Every item and period in one grid. Purple = calculated; "–" = not available.

Item	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18	Q2 FY18	Q1 FY18	Q4 FY17	Q3 FY17
West	724.0M	756.0M	730.0M	709.0M	675.0M	726.0M	–	663.0M	615.0M	700.0M	599.0M	533.0M	500.0M	503.0M	604.0M	708.0M	687.0M	562.0M	576.0M	531.0M	443.0M	476.0M	–	734.0M	640.0M	691.0M	958.0M	741.0M	842.0M	884.0M	1.2B	1.4B	1.2B	1.1B	–	1.0B
Gas & NGL Marketing Services	1.1B	2.4B	1.5B	1.2B	1.2B	2.1B	–	1.0B	922.0M	1.3B	684.0M	558.0M	505.0M	1.1B	882.0M	938.0M	559.0M	854.0M	1.6B	882.0M	724.0M	1.1B	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Transmission and Gulf of Mexico	–	–	–	–	–	–	–	–	–	–	1.0B	1.1B	1.0B	1.0B	1.0B	1.0B	1.0B	995.0M	1.0B	937.0M	900.0M	912.0M	–	859.0M	834.0M	886.0M	–	925.0M	889.0M	918.0M	–	–	–	–	–	–
Northeast G and P	–	–	–	–	–	–	–	–	472.0M	498.0M	505.0M	505.0M	514.0M	509.0M	472.0M	459.0M	448.0M	423.0M	425.0M	417.0M	399.0M	393.0M	–	393.0M	356.0M	389.0M	418.0M	384.0M	370.0M	328.0M	320.0M	322.0M	311.0M	330.0M	–	275.0M
Transmission, Power & Gulf	1.4B	1.4B	1.5B	1.4B	1.3B	1.3B	–	1.2B	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Atlantic Gulf	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	793.0M	–	–	–	823.0M	756.0M	707.0M	717.0M	–	670.0M
Northeast G & P	534.0M	531.0M	530.0M	519.0M	529.0M	544.0M	–	491.0M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Transmission and Gulf of America	–	–	–	–	–	–	–	–	1.1B	1.1B	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Corporate Segment and Other Operating	–	–	–	–	–	–	–	–	–	–	168.0M	130.0M	91.0M	117.0M	201.0M	215.0M	196.0M	39.0M	132.0M	98.0M	52.0M	63.0M	–	8.0M	9.0M	8.0M	8.0M	–	8.0M	7.0M	8.0M	10.0M	8.0M	8.0M	–	18.0M
All other segments - Corporate and other	138.0M	143.0M	153.0M	136.0M	137.0M	155.0M	–	95.0M	86.0M	108.0M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–

Williams Companies revenue by business segment, last 4 quarters

Business segment	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
Transmission, Power & Gulf	$1.4B	$1.4B	$1.4B	$1.3B	37%
Gas & NGL Marketing Services	$1.1B	$2.4B	$1.2B	$1.2B	29%
West	$724.0M	$756.0M	$709.0M	$675.0M	19%
Northeast G & P	$534.0M	$531.0M	$519.0M	$529.0M	14%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

Williams Companies revenue by product or service, last 4 quarters

Product or service	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
Product	$1.2B	$2.5B	$1.3B	$1.3B	36%
NonRegulated Service Monetary Consideration	$1.2B	$1.1B	$1.1B	$1.1B	34%
Regulated Service	$925.0M	$976.0M	$952.0M	$906.0M	27%
NonRegulated Service Commodity Consideration	$45.0M	$46.0M	$45.0M	$47.0M	1%
Other Service	$38.0M	$59.0M	$36.0M	$38.0M	1%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

Williams Companies revenue by region, last 4 quarters

Region	Q2 FY19	Q1 FY19	Q3 FY18	Q2 FY18	Share
West Midstream	$842.0M	$884.0M	$1.3B	$1.1B	40%
Transco	$591.0M	$597.0M	$501.0M	$483.0M	28%
Northeast Midstream	$370.0M	$328.0M	$322.0M	$311.0M	18%
Atlantic Gulf Midstream	$191.0M	$207.0M	$255.0M	$224.0M	9%
Northwest Pipeline	$110.0M	$114.0M	$110.0M	$108.0M	5%
Other Geographical	$8.0M	$7.0M	$10.0M	$8.0M	under 1%

In USD, fiscal quarters as reported; share = part of Q2 FY19 revenue.

Questions and answers

What are Williams Companies's business segments?

Transmission, Power & Gulf, Gas & NGL Marketing Services, West and Northeast G & P (as reported for Q2 fiscal 2026).

Which business segment makes the most money for Williams Companies?

Transmission, Power & Gulf: $1.37 billion, or 37% of revenue, in Q2 fiscal 2026.

What are Williams Companies's main products and services?

By revenue in Q2 fiscal 2026: Product (36%), NonRegulated Service Monetary Consideration (34%), Regulated Service (27%) and NonRegulated Service Commodity Consideration (1%).

Where does Williams Companies make its money?

By region in Q2 fiscal 2019: West Midstream (40%), Transco (28%), Northeast Midstream (18%) and Atlantic Gulf Midstream (9%).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.