Cheniere Energy (LNG) Q4 2025 Earnings
How Did LNG Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −8.32%.
Did LNG Beat Earnings? Q4 2025 Results
Yes. Cheniere Energy reported Q4 2025 earnings of $10.68 a share on Feb 26, 2026, beating the $3.87 consensus estimate by 175.8%. Revenue was $5.5B against a $5.7B estimate.
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.
- 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
“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.”
Cheniere Energy CEO, on the earnings call
What Was Cheniere Energy's Outlook in Q4 2025?
Cheniere introduced full year 2026 guidance of $6.75-$7.25 billion Consolidated Adjusted EBITDA and $4.35-$4.85 billion Distributable Cash Flow, reflecting the expected completion of the remaining three trains at Corpus Christi Stage 3 during 2026. The company forecasts approximately $30 per common share of run-rate Distributable Cash Flow upon completion of the new $10+ billion share repurchase authorization through 2030 and achieving positive FID on the initial phases of both the SPL Expansion and CCL Expansion Projects, assuming approximately 175 million shares outstanding. Full year 2026 forecast net income attributable to Cheniere is projected at $2.2-$2.7 billion.
LNG YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $5.5B | $4.5B | +20.4% |
| Operating Income | $3.8B | $1.3B | +194.2% |
| Net Income | $2.3B | $977.0M | +135.6% |
LNG Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.