Jun 2026 (Q2 FY26) — Aug 6, 2026
Cheniere Q2 FY26 — Strong Production Outperformance Drives Upward Guidance Revision
Read the full callCheniere (LNG) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Cheniere earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 5,732 | +23.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 74.8 | +20.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 3,068 | +88.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
10 of 11 judged targets kept · 14 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full-year consolidated adjusted EBITDA guidance | $6.75 billion to $7.25 billion | Dec 2025 | Today, we are further increasing our full year 2026 financial guidance to $7.9 billion to $8.4 billion of consolidated adjusted EBITDA | Revised Up |
| Corpus Christi Midscale Trains 8 & 9 substantial completion / capacity addition | add approximately 5 million tonnes of capacity by 2028 | Jun 2025 | On our mid-scale trains 8 and 9 and debottlenecking project, we have now safely progressed over 48% complete, continue to track ahead of the schedule across critical work streams. | On Track |
1 of Cheniere Energy, Inc.'s 25 targets was missed. See which ones, and which are quietly gone. The 2 above are the free sample; 23 more targets are in the full ledger.
Claimed
- Consolidated adjusted EBITDA reached approximately $1.8 billion, with distributable cash flow of approximately $1.2 billion.
- Produced and exported 184 cargoes or 672 TBtu, a 20% increase year-over-year.
- Full-year 2026 financial guidance for consolidated adjusted EBITDA raised to $7.9 billion-$8.4 billion and DCF to $5.3 billion-$5.8 billion.
- CCL Stage 3 Train 6 achieved substantial completion in June, and Train 7 commissioning commenced, expected well ahead of its 2027 guaranteed date.
- Repurchased approximately 2.2 million shares for $550 million in Q2, contributing to $1.1 billion in buybacks for H1 FY26.
Qualified
- LNG exports through the Strait of Hormuz remained severely constrained, with LNG tanker transit recovery under 10% of pre-conflict levels.
- Global LNG exports declined by approximately 3 million tonnes year-over-year due to Middle East supply disruption.
- Europe is expected to struggle to reach its 80% storage target before winter, with an approximately 11 Bcm storage deficit versus last year.
- China's LNG imports declined 10% to approximately 27 million tons in H1, though now nearing its limit for demand flexibility.
Price
$286.6 −0.98% · −$2.83
Performance +30.9% 1Y
1Y: $218.96 on 17 Oct 2025 → $286.6. High $296.91 (27 Mar 2026), low $188.83 (15 Dec 2025).
- Previous close
- $289.43
- 52-week range
- $188.83 – $296.91
- One year
- +29.50%
Overview
- Symbol
- LNG
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
10 of 11 judged targets kept · 14 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full-year consolidated adjusted EBITDA guidance | $6.75 billion to $7.25 billion | Dec 2025 | Today, we are further increasing our full year 2026 financial guidance to $7.9 billion to $8.4 billion of consolidated adjusted EBITDA | Revised Up |
| Corpus Christi Midscale Trains 8 & 9 substantial completion / capacity addition | add approximately 5 million tonnes of capacity by 2028 | Jun 2025 | On our mid-scale trains 8 and 9 and debottlenecking project, we have now safely progressed over 48% complete, continue to track ahead of the schedule across critical work streams. | On Track |
Claimed
- Consolidated adjusted EBITDA reached approximately $1.8 billion, with distributable cash flow of approximately $1.2 billion.
- Produced and exported 184 cargoes or 672 TBtu, a 20% increase year-over-year.
- Full-year 2026 financial guidance for consolidated adjusted EBITDA raised to $7.9 billion-$8.4 billion and DCF to $5.3 billion-$5.8 billion.
- CCL Stage 3 Train 6 achieved substantial completion in June, and Train 7 commissioning commenced, expected well ahead of its 2027 guaranteed date.
- Repurchased approximately 2.2 million shares for $550 million in Q2, contributing to $1.1 billion in buybacks for H1 FY26.
Qualified
- LNG exports through the Strait of Hormuz remained severely constrained, with LNG tanker transit recovery under 10% of pre-conflict levels.
- Global LNG exports declined by approximately 3 million tonnes year-over-year due to Middle East supply disruption.
- Europe is expected to struggle to reach its 80% storage target before winter, with an approximately 11 Bcm storage deficit versus last year.
- China's LNG imports declined 10% to approximately 27 million tons in H1, though now nearing its limit for demand flexibility.
The full ledger
Open Cheniere Energy, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 25 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Cheniere Energy Q1 FY26 — Record LNG Exports and Raised Full-Year Guidance
Read the full callDec 2025 (Q4 FY25) — Feb 26, 2026
Cheniere Energy Q4 FY25 — Early Completion of Capital Allocation Plan & Increased Buyback
Read the full callEvery analysed call
Cheniere earnings calls (LNG)
Financials
What the filings say
Net profit, year on year: +89% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 3,763 | 4,436 | 5,444 | 4,641 | 4,441 | 5,450 | 5,868 | 5,732 |
| Expenses | 2,116 | 2,697 | 4,483 | 2,111 | 2,624 | 1,646 | 9,356 | 1,442 |
| Operating profit | 1,647 | 1,739 | 961 | 2,530 | 1,817 | 3,804 | -3,488 | 4,290 |
| Operating margin | 43.8% | 39.2% | 17.6% | 54.5% | 40.9% | 69.8% | −59.4% | 74.8% |
| Other income | -209 | -194 | -172 | -207 | -218 | -233 | -265 | -282 |
| Interest | 247 | 240 | 229 | 237 | 236 | 246 | 255 | 287 |
| Profit before tax | 1,438 | 1,545 | 789 | 2,323 | 1,599 | 3,571 | -3,753 | 4,008 |
| Tax rate | 16.1% | 16.9% | 15.3% | 18.3% | 18.9% | 17.9% | 9.1% | 9.1% |
| Net profit | 893 | 977 | 353 | 1,626 | 1,049 | 2,302 | -3,502 | 3,068 |
| EPS ($ per share) | 3.95 | — | 1.57 | 7.32 | 4.76 | — | -16.65 | 14.68 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | — | — | 1 | — | — | — | — | — |
| Reserves | -4,156 | -3,508 | -3,593 | -6,021 | -4,942 | 4,546 | 7,382 | 12,243 |
| Total liabilities | 30,058 | 33,057 | 33,479 | 39,291 | 41,437 | 34,056 | 33,798 | 34,804 |
| Fixed assets | 27,245 | 29,673 | 30,421 | 30,288 | 31,528 | 32,456 | 33,552 | 35,755 |
| Total assets | 31,987 | 35,492 | 35,697 | 39,258 | 41,266 | 43,076 | 43,858 | 47,882 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,990 | 1,833 | 1,265 | 2,469 | 10,523 | 8,418 | 5,394 | 5,539 |
| Cash from investing | -3,654 | -3,163 | -1,947 | -912 | -1,844 | -2,202 | -2,279 | -3,012 |
| Cash from financing | 2,207 | 1,168 | -235 | -1,817 | -8,014 | -4,180 | -4,451 | -4,130 |
| Net cash flow | — | — | -917 | -260 | 670 | 2,038 | -1,335 | -1,606 |
| Capital expenditure | -3,643 | -3,056 | -1,839 | -966 | -1,830 | -2,121 | -2,238 | -3,078 |
| Free cash flow | -1,653 | -1,223 | -574 | 1,503 | 8,693 | 6,297 | 3,156 | 2,461 |
LNG revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Product and Service Other | 5% | -5% | 2% | 2% | 2% | -1% | 2% | 1% | -37.0% |
| Regasification Service | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 0.0% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
LNG operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Capital expenditures Stage 3 | ~$325MDuring the first quarter, we funded approximately $325 million of CapEx on Stage 3, bringing total spend on the project to over $4.8 billion.Source: earnings call transcript | ~$400MDuring the second quarter, we funded approximately $400 million of CapEx on Stage 3, bringing total spend on the project to approximately $5.2 billion unlevered.Source: earnings call transcript | $300M+During the third quarter, we funded over $300 million of CapEx on Stage 3, bringing total spend to approximately $5.5 billion unlevered.Source: earnings call transcript | — | — | — | — |
| LNG cargoes exported | — | — | — | 185During the fourth quarter, we exported 185 LNG cargoes from our facilities.Source: earnings call transcript | 187The 187 cargoes we exported through March topped the previous record set in the fourth quarter of last year.Source: earnings call transcript | 184On the production side, we produced and exported 184 cargoes or 672 TBtu, a 20% increase over the same period last year.Source: earnings call transcript | -1.6% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
65 filings between Nov 4, 2025 and Aug 15, 2026.
Open market
decisions to buy or sellPurchases
$1.04M
2 purchases by 1 insider
Sales
$17.68M
5 sales by 4 insiders
Compensation
not trading decisions- 8
- Award — granted as compensation
- 19
- Option exercise — converted options into shares
- 23
- Tax withheld — shares kept back by the company to cover tax
Also filed: 6 dispositions to the issuer, 2 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Davis Zach | — | $8.70M | Mar 30, 2026 |
| Markowitz Sean N | — | $6.47M | Mar 26, 2026 |
| BOTTA G ANDREA | — | $1.48M | Mar 27, 2026 |
| MORELAND W BENJAMIN | $1.04M | — | Nov 4, 2025 |
| SHEAR NEAL A | — | $1.02M | Mar 2, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 15, 2026 | Mitchelmore Lorraine Director | Tax withheld | 51 | $13.9K |
| Jul 14, 2026 | Vitalone Britt J. Director | Award | 614 | $0 |
| May 14, 2026 | Robillard Donald F JR Director | Award | 1,432 | $0 |
| May 14, 2026 | Gray Denise Director | Award | 1,307 | $0 |
| May 14, 2026 | COLLAWN PATRICIA K Director | Award | 1,391 | $0 |
| May 14, 2026 | Edwards Brian E Director | Award | 809 | $0 |
| May 14, 2026 | Mitchelmore Lorraine Director | Award | 1,307 | $0 |
| May 14, 2026 | SHEAR NEAL A Director | Award | 1,307 | $0 |
| May 14, 2026 | MORELAND W BENJAMIN Director | Award | 1,411 | $0 |
| May 13, 2026 | Mitchelmore Lorraine Director | Tax withheld | 394 | $94.3K |
| Mar 30, 2026 | Davis Zach EVP & CFO | Sale | 29,000 | $8.70M |
| Mar 27, 2026 | BOTTA G ANDREA Director | Sale | 5,000 | $1.48M |
| Mar 26, 2026 | Feygin Anatol EVP & Chief Commercial Officer | Gift | 6,012 | $0 |
| Mar 26, 2026 | Markowitz Sean N EVP, CLO and Corp Sec | Sale | 8,810 | $2.56M |
| Mar 26, 2026 | Markowitz Sean N EVP, CLO and Corp Sec | Sale | 13,436 | $3.91M |
| Mar 2, 2026 | SHEAR NEAL A Director | Sale | 4,100 | $1.02M |
| Feb 15, 2026 | Mitchelmore Lorraine Director | Tax withheld | 53 | $11.7K |
| Feb 11, 2026 | Hinz Maas SVP, Operations | Disposition to issuer | 1,267 | $253.5K |
| Feb 11, 2026 | Hinz Maas SVP, Operations | Option exercise | 2,090 | — |
| Feb 11, 2026 | Slack David L SVP & Chief Accounting Officer | Tax withheld | 579 | $127.0K |
| Feb 11, 2026 | Feygin Anatol EVP & Chief Commercial Officer | Tax withheld | 1,157 | $253.9K |
| Feb 11, 2026 | Markowitz Sean N EVP, CLO and Corp Sec | Tax withheld | 1,157 | $253.9K |
| Feb 11, 2026 | Feygin Anatol EVP & Chief Commercial Officer | Option exercise | 2,939 | — |
| Feb 11, 2026 | Fusco Jack A President and CEO | Disposition to issuer | 8,082 | $1.62M |
| Feb 11, 2026 | Fusco Jack A President and CEO | Option exercise | 13,326 | — |
| Feb 11, 2026 | Slack David L SVP & Chief Accounting Officer | Option exercise | 1,508 | — |
| Feb 11, 2026 | Fusco Jack A President and CEO | Tax withheld | 5,244 | $1.05M |
| Feb 11, 2026 | Markowitz Sean N EVP, CLO and Corp Sec | Option exercise | 2,939 | — |
| Feb 11, 2026 | Davis Zach EVP & CFO | Option exercise | 3,285 | — |
| Feb 11, 2026 | Hinz Maas SVP, Operations | Tax withheld | 823 | $164.6K |
| Feb 11, 2026 | Davis Zach EVP & CFO | Tax withheld | 1,293 | $283.7K |
| Feb 9, 2026 | Feygin Anatol EVP & Chief Commercial Officer | Tax withheld | 1,356 | $292.4K |
| Feb 9, 2026 | Feygin Anatol EVP & Chief Commercial Officer | Option exercise | 3,808 | — |
| Feb 9, 2026 | Hinz Maas SVP, Operations | Disposition to issuer | 999 | $199.5K |
| Feb 9, 2026 | Markowitz Sean N EVP, CLO and Corp Sec | Tax withheld | 1,356 | $292.4K |
| Feb 9, 2026 | Hinz Maas SVP, Operations | Tax withheld | 649 | $129.6K |
| Feb 9, 2026 | Markowitz Sean N EVP, CLO and Corp Sec | Option exercise | 3,808 | — |
| Feb 9, 2026 | Fusco Jack A President and CEO | Tax withheld | 6,692 | $1.34M |
| Feb 9, 2026 | Hinz Maas SVP, Operations | Option exercise | 1,648 | — |
| Feb 9, 2026 | Fusco Jack A President and CEO | Disposition to issuer | 10,312 | $2.06M |
| Feb 9, 2026 | Fusco Jack A President and CEO | Option exercise | 17,004 | — |
| Feb 9, 2026 | Davis Zach EVP & CFO | Option exercise | 3,944 | — |
| Feb 9, 2026 | Davis Zach EVP & CFO | Tax withheld | 1,446 | $311.8K |
| Feb 9, 2026 | Slack David L SVP & Chief Accounting Officer | Option exercise | 2,965 | — |
| Feb 9, 2026 | Slack David L SVP & Chief Accounting Officer | Tax withheld | 723 | $155.9K |
| Feb 8, 2026 | Davis Zach EVP & CFO | Tax withheld | 980 | $208.8K |
| Feb 8, 2026 | Davis Zach EVP & CFO | Option exercise | 3,975 | — |
| Feb 8, 2026 | Feygin Anatol EVP & Chief Commercial Officer | Tax withheld | 923 | $196.7K |
| Feb 8, 2026 | Feygin Anatol EVP & Chief Commercial Officer | Option exercise | 3,726 | — |
| Feb 8, 2026 | Markowitz Sean N EVP, CLO and Corp Sec | Tax withheld | 923 | $196.7K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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