Companies /Energy
Cheniere Energy Partners LP
NYSE MKT: CQP Oil & Gas Midstream
$64.49
▼ $2.12 (−3.18%) today
Markets closed · 4:26pm ET

Cheniere Energy Partners (CQP) Q3 2026 Earnings

Reported Oct 29, 2026, 7:32am ET · SEC source
$1.01
Miss −13.31%
EPS · est. $1.17 GAAP

Cost of sales includes approximately $10 million of gains from changes in the fair value of commodity derivatives, primarily non-cash changes related to long-term IPM agreements (vs. $16 million of losses in Q3 2025); results also include $26 million of amortization of deferred NPNS assets and liabilities excluded from Adjusted EBITDA.

$2.6B
Beat +0.19%
Revenue · est. $2.6B
1 quarter
Consecutive EPS misses

How Did CQP Stock React to Q3 2026 Earnings?

% change · around the report
−2%0+2%Oct 28Nov 2report 7:32am ETearnings−2.2%−0.7%
−2%0+2%Oct 28Nov 2earnings−2.2%−0.7%
CQP −0.7%S&P 500 −2.2%
−6%−3%0+3%Oct 28Nov 2report 7:32am ETearnings−5.1%−0.7%
−6%−3%0+3%Oct 28Nov 2earnings−5.1%−0.7%
CQP −0.7%NASDAQ −5.1%
+2.82%
Day of report
−0.33%
Next session

Did CQP Beat Earnings? Q3 2026 Results

No. Cheniere Energy Partners reported Q3 2026 earnings of $1.01 a share on Oct 29, 2026, missing the $1.17 consensus estimate by 13.3%. Revenue was $2.6B against a $2.6B estimate.

Cheniere Energy Partners, L.P. delivered a mixed third quarter for 2026, posting GAAP earnings per unit of $1.01 that missed the $1.17 consensus estimate by 13.31%, even as revenue of $2.57 billion edged fractionally ahead of expectations and grew 7.1% year over year. The per-share result reflects GAAP accounting as reported, including approximately $10 million of non-cash gains from fair value changes in commodity derivatives tied to long-term IPM agreements, compared with $16 million of losses a year earlier, as well as $26 million of amortization of deferred NPNS assets excluded from Adjusted EBITDA. The underlying business showed genuine momentum: net income rose roughly $133 million and Adjusted EBITDA climbed about $69 million versus the prior-year quarter, driven by higher LNG volumes recognized in income and improved margins per MMBtu across 104 cargoes loaded at Sabine Pass. Looking ahead, management tightened full-year 2026 distribution guidance to $3.30 to $3.40 per unit, raising the floor from $3.10, and the partnership declared a quarterly distribution of $0.89 per common unit payable in November.

Key Takeaways
  • Higher total margins on LNG delivered
  • Higher LNG volumes recognized in income (378 TBtu in Q3 2026 vs 374 TBtu in Q3 2025)
  • Higher margins per MMBtu of LNG delivered
  • Approximately $10 million of non-cash gains from changes in fair value of commodity derivatives (IPM agreements) in Q3 cost of sales
  • 104 LNG cargoes exported (377 TBtu) in Q3 2026

What Is Cheniere Energy Partners's Outlook?

Full year 2026 distribution guidance was tightened to $3.30–$3.40 per common unit from $3.10–$3.40, with the base distribution maintained at $3.10 per common unit. The partnership expects to execute the SPL Expansion Project in a phased approach. FID on the first phase depends on regulatory approvals (pending FERC and DOE non-FTA authorizations) and on acceptable commercial and financing arrangements. A term loan sized to fund about 50% of phase-one costs has been committed, contingent on a positive FID.

CQP YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$800.0M$1.6B$2.4B$2.4B$2.6BRevenue$591.0M$815.0MOperating Income$506.0M$639.0MNet Income
$0$800.0M$1.6B$2.4BRevenueOperating IncomeNet Income
CQP income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $2.6B $2.4B +7.1%
Operating Income $815.0M $591.0M +37.9%
Net Income $639.0M $506.0M +26.3%

CQP Revenue by Segment

LNG revenues$2.0B+6.5%
LNG revenues—affiliate$567.0M+9.5%
Regasification revenues$34.0M+0.0%
Other revenues$17.0M

Figures from SEC filings and company reports. Not investment advice.