Q4 25 EPS
$10.68
BEAT +175.81%
Est. $3.87
Q4 25 Revenue
$5.45B
MISS 4.97%
Est. $5.73B
vs S&P Since Q4 25
-3.4%
TRAILING MARKET
LNG +5.1% vs S&P +8.6%
Full Year 2025 Results
FY 25 EPS
$24.13
BEAT +78.69%
Est. $13.50
FY 25 Revenue
$19.98B
MISS 0.04%
Est. $19.98B
Market Reaction
Did LNG Beat Earnings? Q4 2025 Results
Cheniere Energy posted a blowout fourth quarter to cap a record-setting 2025, with earnings per share of $10.68 demolishing the $3.87 consensus estimate by 175.97%, even as revenue of $5.45 billion came in slightly below the $5.68 billion Wall Street… Read more Cheniere Energy posted a blowout fourth quarter to cap a record-setting 2025, with earnings per share of $10.68 demolishing the $3.87 consensus estimate by 175.97%, even as revenue of $5.45 billion came in slightly below the $5.68 billion Wall Street expected, though still representing a solid 20.4% year-over-year gain. The primary engine behind the dramatic earnings outperformance was approximately $1.60 billion in favorable derivative fair value variances during the quarter, combined with higher LNG delivery volumes from the newly completed CCL Stage 3 trains, which helped drive net income attributable to Cheniere to $2.30 billion, up 136% year-over-year. The company also declared a major strategic milestone, completing its "20/20 Vision" capital allocation plan and announcing a share repurchase authorization of over $10 billion through 2030, a move that has drawn fresh institutional interest amid tightening global LNG supply. Looking ahead, management introduced 2026 guidance of $6.75 to $7.25 billion in Consolidated Adjusted EBITDA, with an ambitious longer-term target of approximately $30 per share in run-rate Distributable Cash Flow upon full execution of the buyback program and expansion project FIDs.
Key Takeaways
- • Record LNG production in 2025 with 670 cargoes exported
- • Higher volumes of LNG delivered from substantial completion of initial trains of CCL Stage 3 Project
- • Favorable variances of approximately $1.6 billion in Q4 and $2.3 billion for full year from changes in fair value of derivative instruments
- • Partially offset by lower total margins per MMBtu of LNG delivered
- • Lower contributions from certain portfolio optimization activities related to charter vessel portfolio
LNG YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
LNG Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are celebrating 10 years of LNG exports at Cheniere, a remarkable milestone made possible thanks to our team's commitment to safety, operational excellence and execution across our platform every single day. This commitment also enabled another record-setting year of LNG production in 2025, driving full year financial results to the high end of our guidance ranges.”
— Jack Fusco, Q4 2025 Earnings Press Release
LNG Earnings Trends
LNG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LNG EPS Trend
Earnings per share: estimate vs actual
LNG Revenue Trend
Quarterly revenue: estimate vs actual
LNG Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | $5.87B | +0.39% |
| Q4 25 BEAT FY | $3.87 | $10.68 | +175.81% | $5.45B | -4.97% |
| FY Full Year | $13.50 | $24.13 | +78.69% | $19.98B | -0.04% |
| Q3 25 BEAT | $2.78 | $4.75 | +71.11% | $4.44B | -0.96% |
| Q2 25 BEAT | $2.42 | $7.30 | +201.69% | $4.64B | +8.08% |
| Q1 25 MISS | $3.19 | $1.57 | -50.80% | $5.44B | +9.88% |