Williams Companies (NYSE: WMB) is expected to report Q2 earnings on July 31. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Williams Companies's revenues will grow 16.0% and EPS will contract -31.8%.

The average estimate for revenue is $2.14 billion. On the bottom line, the average EPS estimate is $0.15.

Revenue details
 Last quarter, Williams Companies logged revenue of $1.81 billion. GAAP reported sales were 10% lower than the prior-year quarter's $2.02 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.22. GAAP EPS of $0.23 for Q1 were 67% lower than the prior-year quarter's $0.70 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 42.0%, 80 basis points better than the prior-year quarter. Operating margin was 23.5%, 260 basis points worse than the prior-year quarter. Net margin was 8.9%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $8.31 billion. The average EPS estimate is $0.70.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 522 members out of 545 rating the stock outperform, and 23 members rating it underperform. Among 119 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 111 give Williams Companies a green thumbs-up, and eight give it a red thumbs-down.

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