Companies /Energy

Cheniere Energy Inc

NYSE MKT: LNG Oil & Gas Midstream
$279.56
▼ $4.52 (−1.59%) today
Markets open · 12:47pm ET

Q2 2026 Earnings

Reported Aug 6, 2026, 7:31am ET · SEC source
$14.65
Miss +0.00%
EPS · est. $0.00 GAAP

Includes approximately $2.4 billion of non-cash gains from changes in fair value of commodity derivatives (primarily long-term IPM agreements) in cost of sales during Q2 2026, compared to $1.4 billion of gains in Q2 2025. Adjusted Net Income excluding derivative fair value changes was $632 million vs. $498 million in Q2 2025.

$5.7B
Miss +0.00%
Revenue · est. $0
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−0.8%0+0.8%Aug 6Aug 7report 7:31am ETearnings+0.2%−0.3%
−0.8%0+0.8%Aug 6Aug 7earnings+0.2%−0.3%
LNG −0.3%S&P 500 +0.2%
−0.7%0+0.7%+1.4%Aug 6Aug 7report 7:31am ETearnings+1.0%−0.3%
−0.7%0+0.7%+1.4%Aug 6Aug 7earnings+1.0%−0.3%
LNG −0.3%NASDAQ +1.0%
−4%−2%0+2%Aug 5Aug 14report 7:31am ETearnings+1.0%+1.0%
−4%−2%0+2%Aug 5Aug 14earnings+1.0%+1.0%
LNG +1.0%S&P 500 +1.0%
−4%−2%0+2%Aug 5Aug 14report 7:31am ETearnings+2.8%+1.0%
−4%−2%0+2%Aug 5Aug 14earnings+2.8%+1.0%
LNG +1.0%NASDAQ +2.8%
+4.32%
Day of report
−3.62%
Next session
+0.27%
One week

Did LNG Beat Earnings? Q2 2026 Results

Cheniere Energy posted a powerful second quarter for 2026, with GAAP earnings of $14.65 per diluted share on revenues of $5.73 billion, a 24% year-over-year revenue gain fueled by 184 LNG cargoes exported and a sharp rise in volumes recognized in income. The headline GAAP figure reflects approximately $2.40 billion in non-cash gains from changes in fair value of commodity derivatives tied to long-term IPM agreements flowing through cost of sales, compared to $1.40 billion of such gains a year ago; stripping those effects away, Adjusted Net Income reached $632 million, up from $498 million in Q2 2025, while Consolidated Adjusted EBITDA climbed 27% to $1.80 billion. Institutional investors have maintained broadly bullish positioning heading into the print, and the underlying operational momentum gave management confidence to raise full-year 2026 Consolidated Adjusted EBITDA guidance to $7.90 billion–$8.40 billion and Distributable Cash Flow guidance to $5.30 billion–$5.80 billion, with the CCL Stage 3 Project now 98.4% complete and first LNG from Train 7 expected imminently.

Key Takeaways
  • Higher volumes recognized in income: 672 TBtu in Q2 2026 vs 550 TBtu in Q2 2025, up 22%
  • Higher margins per MMBtu of LNG delivered
  • 184 LNG cargoes exported in Q2 2026 vs 154 in Q2 2025, up 19%
  • Substantial completion of Midscale Train 6 at CCL Stage 3 Project expanding operational capacity
  • Approximately $2.4 billion of gains from changes in fair value of commodity derivatives in Q2 2026

“The second quarter of 2026 marked another outstanding quarter for Cheniere, highlighted by the substantial completion of Midscale Train 6 at the CCL Stage 3 Project, and our further progress towards an FID of Phase 1 of the SPL Expansion Project.”

Cheniere Energy CEO, on the earnings call

Forward Guidance & Outlook

Cheniere raised its full year 2026 guidance: Consolidated Adjusted EBITDA to $7.90–$8.40 billion (from $7.25–$7.75 billion) and Distributable Cash Flow to $5.30–$5.80 billion (from $4.75–$5.25 billion). The full year 2026 production forecast was tightened upward to 53–54 million tonnes from 52–54 million tonnes. First LNG from CCL Stage 3 Midscale Train 7 is expected imminently, with substantial completion expected in the fall of 2026. CCL Midscale Trains 8 & 9 expected substantial completion in 2H 2028. The SPL Expansion Project Phase 1 FID remains subject to regulatory approvals and commercial/financing arrangements, with FERC and DOE applications pending.

LNG YoY Financials

Revenue$5.7B
Operating Income$4.3B
Net Income$3.1B

LNG Revenue by Segment

LNG Revenues$5.6B+24.9%
Other Revenues$58.0M−37.0%
Regasification Revenues$34.0M+0.0%

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