Jun 2026 (Q2 FY26) — Aug 11, 2026
Venture Global Q2 FY26 — Record EBITDA and Accelerated Expansion
Read the full callVenture Global (VG) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Venture Global earnings: last reported Tue, 11 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 | 4,578 | +47.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 47.8 | +14.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. |
Guidance
What management said, and what became of it
10 of 12 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Plaquemines Phase 1 transition to permanent power island | Transition from temporary power to permanent power island capacity in Q4 2025 | Jun 2025 | Ghosted | |
| Full-year cargo exports from Calcasieu Pass and Plaquemines combined | 486 to 527 cargoes | Dec 2025 | we are tightening and raising the midpoint of the cargo range for the full year | Revised Up |
| CP2 Phase 2 final investment decision (FID) | FID for CP2 Phase 2 in 2026 | Jun 2025 | we completed the FID of Phase 2 of CP2 with an $8.6 billion project financing | Achieved |
2 of Venture Global, Inc.'s 25 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 22 more targets are in the full ledger.
Claimed
- Achieved largest ever quarterly EBITDA of $2.5 billion, a 79% increase year-over-year.
- Increased 2026 EBITDA guidance to $8.7 billion-$9.1 billion, up from $8.2 billion-$8.5 billion.
- Exported 127 cargoes in Q2, contributing to the 1,000th cargo milestone just 4 years after first cargo.
- Executed over 2 MTPA of new or increased LNG offtake agreements, increasing 2026 contracted position to 91%.
- Increased quarterly common dividend by 122% to $0.04 per share.
Qualified
- Maintained a broader-than-usual guidance range due to outsized LNG price volatility related to events in the Middle East.
- European gas inventories remain well below normal levels, indicating potential exposure to severe winter weather.
Price
$12.81 +0.71% · +$0.09
Performance +44.3% 1Y
1Y: $8.88 on 17 Oct 2025 → $12.81. High $17.53 (27 Mar 2026), low $5.92 (16 Dec 2025).
- Previous close
- $12.72
- 52-week range
- $5.92 – $17.53
- One year
- +37.89%
Overview
- Symbol
- VG
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
10 of 12 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Plaquemines Phase 1 transition to permanent power island | Transition from temporary power to permanent power island capacity in Q4 2025 | Jun 2025 | Ghosted | |
| Full-year cargo exports from Calcasieu Pass and Plaquemines combined | 486 to 527 cargoes | Dec 2025 | we are tightening and raising the midpoint of the cargo range for the full year | Revised Up |
| CP2 Phase 2 final investment decision (FID) | FID for CP2 Phase 2 in 2026 | Jun 2025 | we completed the FID of Phase 2 of CP2 with an $8.6 billion project financing | Achieved |
Claimed
- Achieved largest ever quarterly EBITDA of $2.5 billion, a 79% increase year-over-year.
- Increased 2026 EBITDA guidance to $8.7 billion-$9.1 billion, up from $8.2 billion-$8.5 billion.
- Exported 127 cargoes in Q2, contributing to the 1,000th cargo milestone just 4 years after first cargo.
- Executed over 2 MTPA of new or increased LNG offtake agreements, increasing 2026 contracted position to 91%.
- Increased quarterly common dividend by 122% to $0.04 per share.
Qualified
- Maintained a broader-than-usual guidance range due to outsized LNG price volatility related to events in the Middle East.
- European gas inventories remain well below normal levels, indicating potential exposure to severe winter weather.
The full ledger
Open Venture Global, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 25 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 12, 2026
Venture Global, Inc. Q1 FY26 — Guidance Raise & CP2 Phase II FID
Read the full callDec 2025 (Q4 FY25) — Mar 2, 2026
Venture Global Q4 FY25 — Landmark Year with Production Ramp and Strategic Expansion
Read the full callEvery analysed call
Venture Global earnings calls (VG)
Financials
What the filings say
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 926 | 1,524 | 2,894 | 3,101 | 3,329 | 4,445 | 4,599 | 4,578 |
| Expenses | 737 | 930 | 1,814 | 2,063 | 2,009 | 2,727 | 3,448 | 2,390 |
| Operating profit | 189 | 594 | 1,080 | 1,038 | 1,320 | 1,718 | 1,151 | 2,188 |
| Operating margin | 20.4% | 39.0% | 37.3% | 33.5% | 39.6% | 38.6% | 25.0% | 47.8% |
| Other income | -561 | 644 | -412 | -447 | -683 | -251 | -415 | -435 |
| Interest | 128 | 117 | 276 | 310 | 421 | 447 | 444 | 489 |
| Profit before tax | -372 | 1,238 | 668 | 591 | 637 | 1,467 | 736 | 1,753 |
| Tax rate | 21.0% | 20.0% | 22.6% | 19.6% | 13.7% | 18.8% | 15.1% | 19.2% |
| EPS ($ per share) | -0.15 | — | 0.17 | 0.15 | 0.18 | — | 0.20 | 0.54 |
| Line item | Dec 2024 | Dec 2025 |
|---|---|---|
| Reserves | 2,611 | 4,720 |
| Total liabilities | 35,595 | 41,450 |
| Fixed assets | 34,675 | 46,588 |
| Total assets | 43,491 | 53,446 |
| Line item | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Cash from operations | 4,550 | 2,149 | 6,566 |
| Cash from investing | -8,725 | -14,159 | -13,220 |
| Cash from financing | 7,635 | 10,752 | 5,465 |
| Net cash flow | 3,460 | -1,258 | -1,189 |
| Capital expenditure | -8,091 | -13,717 | -13,365 |
| Free cash flow | -3,541 | -11,568 | -6,799 |
VG revenue by segment
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|
| Plaquemines Project | 41% | 68% | 76% | 76% | 74% | 82% | +79.8% |
| Sales and Shipping | — | — | — | — | 18% | 40% | — |
| Calcasieu Project | 57% | 30% | 21% | 19% | 24% | 16% | -23.3% |
| CP 2 Project | <1% | 0% | 0% | 0% | 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
VG operating KPIs by quarter
| KPI | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Weighted average fixed liquefaction fee Calcasieu Pass | $2.66During the second quarter of 2025, Calcasieu Pass was able to export 38 cargoes and realized a weighted average fixed liquefaction fee of $2.66 per MMBtu in the second quarter.Source: earnings call transcript | $1.76At Calcasieu Pass, we realized a weighted average fixed liquefaction fee of $1.76 per MMBtu in the third quarter.Source: earnings call transcript | — | — | — | -33.8% |
| Commissioning cargoes exported Plaquemines | 51The continued progress enabled Plaquemines to export 51 commissioning cargoes during the second quarter, surpassing the high end of our previously projected range by 1 cargo.Source: earnings call transcript | 64Despite these challenges, our continued construction and commissioning progress enabled Plaquemines to export 64 commissioning cargos during Q3, hitting the high end of our previously projected range.Source: earnings call transcript | 90At Plaquemines, the facility exported 90 cargoes at a realized weighted average liquefaction fee of $6.02 per MMBtu on our commissioning cargoes during the fourth quarter, which was negatively impacted by a brief period of margin compression in December as Henry Hub prices escalated, shipping day rates increased and TTF remained largely static.Source: earnings call transcript | — | — | +40.6% |
| Weighted average fixed liquefaction fee Plaquemines | $7.09The facility realized a weighted average fixed liquefaction fee of $7.09 per MMBtu on these cargoes.Source: earnings call transcript | $6.79The facility realized a weighted average fixed liquefaction fee of $6.79 per MMBtu on these commissioning cargos during the quarter.Source: earnings call transcript | — | — | — | -4.2% |
| Cargoes exported | — | — | — | 130Operationally, we safely exported a new record of 130 cargoes in the first quarter.Source: earnings call transcript | 127In the second quarter, we exported 127 cargoes, while maintaining our incredible record of safety.Source: earnings call transcript | -2.3% |
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
138 filings between Nov 13, 2025 and Oct 15, 2026.
Open market
decisions to buy or sellPurchases
$16.0K
1 purchase by 1 insider
Sales
$409.10M
67 sales by 8 insiders
64% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 66
- Option exercise — converted options into shares
Also filed: 4 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Larson Keith D | — | $201.72M | Oct 15, 2026 |
| Musser Fory | — | $69.98M | Aug 20, 2026 |
| Thayer Jonathan W | — | $68.24M | Sep 18, 2026 |
| Earl Thomas | — | $31.16M | May 27, 2026 |
| Blake Sarah | — | $22.73M | Aug 14, 2026 |
| Cothran Brian | — | $11.69M | Sep 14, 2026 |
| Granat Sari Beth | — | $2.70M | Aug 13, 2026 |
| STATON JIMMY D | — | $881.0K | Aug 13, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 15, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 5,300 | $68.3K |
| Oct 15, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 394,979 | $331.8K |
| Oct 15, 2026 | Larson Keith D General Counsel and Secretary | Sale 10b5-1 plan | 389,679 | $4.84M |
| Oct 14, 2026 | Larson Keith D General Counsel and Secretary | Sale 10b5-1 plan | 394,978 | $5.28M |
| Oct 14, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 394,978 | $331.8K |
| Sep 18, 2026 | Thayer Jonathan W Chief Financial Officer | Option exercise 10b5-1 plan | 111,111 | $128.9K |
| Sep 18, 2026 | Thayer Jonathan W Chief Financial Officer | Sale 10b5-1 plan | 111,111 | $1.58M |
| Sep 17, 2026 | Thayer Jonathan W Chief Financial Officer | Sale 10b5-1 plan | 111,111 | $1.60M |
| Sep 17, 2026 | Thayer Jonathan W Chief Financial Officer | Option exercise 10b5-1 plan | 111,111 | $128.9K |
| Sep 17, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 394,979 | $331.8K |
| Sep 17, 2026 | Larson Keith D General Counsel and Secretary | Sale 10b5-1 plan | 394,979 | $5.69M |
| Sep 16, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 155,692 | $130.8K |
| Sep 16, 2026 | Larson Keith D General Counsel and Secretary | Sale 10b5-1 plan | 394,979 | $5.85M |
| Sep 16, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 239,287 | $189.0K |
| Sep 14, 2026 | Cothran Brian Chief Operating Officer | Option exercise 10b5-1 plan | 152,660 | $177.1K |
| Sep 14, 2026 | Cothran Brian Chief Operating Officer | Sale 10b5-1 plan | 152,660 | $2.47M |
| Sep 9, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 1,885,804 | $1.49M |
| Sep 9, 2026 | Larson Keith D General Counsel and Secretary | Sale 10b5-1 plan | 1,885,804 | $28.69M |
| Sep 8, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 464,196 | $366.7K |
| Sep 8, 2026 | Larson Keith D General Counsel and Secretary | Sale 10b5-1 plan | 464,196 | $6.98M |
| Aug 20, 2026 | Musser Fory Senior VP, Development | Sale | 259,413 | $3.70M |
| Aug 20, 2026 | Musser Fory Senior VP, Development | Option exercise | 259,413 | $204.9K |
| Aug 19, 2026 | Musser Fory Senior VP, Development | Sale | 12,600 | $176.5K |
| Aug 19, 2026 | Musser Fory Senior VP, Development | Option exercise | 12,600 | $10.0K |
| Aug 19, 2026 | Thayer Jonathan W Chief Financial Officer | Option exercise 10b5-1 plan | 111,111 | $128.9K |
| Aug 19, 2026 | Thayer Jonathan W Chief Financial Officer | Sale 10b5-1 plan | 111,111 | $1.54M |
| Aug 18, 2026 | Thayer Jonathan W Chief Financial Officer | Sale 10b5-1 plan | 111,111 | $1.57M |
| Aug 18, 2026 | Thayer Jonathan W Chief Financial Officer | Option exercise 10b5-1 plan | 111,111 | $128.9K |
| Aug 17, 2026 | Musser Fory Senior VP, Development | Sale | 22,013 | $308.6K |
| Aug 17, 2026 | Musser Fory Senior VP, Development | Option exercise | 22,013 | $17.4K |
| Aug 14, 2026 | Musser Fory Senior VP, Development | Option exercise | 447,534 | $353.6K |
| Aug 14, 2026 | Musser Fory Senior VP, Development | Sale | 447,534 | $6.27M |
| Aug 14, 2026 | Blake Sarah SVP, Chief Accounting Officer | Sale | 1,000,000 | $14.02M |
| Aug 14, 2026 | Blake Sarah SVP, Chief Accounting Officer | Option exercise | 1,000,000 | $1.55M |
| Aug 13, 2026 | Granat Sari Beth Director | Option exercise | 200,000 | $532.0K |
| Aug 13, 2026 | STATON JIMMY D Director | Sale | 66,000 | $881.0K |
| Aug 13, 2026 | Granat Sari Beth Director | Sale | 200,000 | $2.70M |
| Aug 13, 2026 | STATON JIMMY D Director | Option exercise | 1,100,000 | $869.0K |
| Aug 13, 2026 | Larson Keith D General Counsel and Secretary | Sale 10b5-1 plan | 555,555 | $7.49M |
| Aug 13, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 555,555 | $438.9K |
| Jul 21, 2026 | Thayer Jonathan W Chief Financial Officer | Option exercise 10b5-1 plan | 111,111 | $128.9K |
| Jul 21, 2026 | Thayer Jonathan W Chief Financial Officer | Sale 10b5-1 plan | 111,111 | $1.56M |
| Jul 20, 2026 | Thayer Jonathan W Chief Financial Officer | Option exercise 10b5-1 plan | 111,111 | $128.9K |
| Jul 20, 2026 | Thayer Jonathan W Chief Financial Officer | Sale 10b5-1 plan | 111,111 | $1.58M |
| Jul 16, 2026 | Larson Keith D General Counsel and Secretary | Sale 10b5-1 plan | 555,555 | $7.17M |
| Jul 16, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 555,555 | $438.9K |
| Jul 15, 2026 | Larson Keith D General Counsel and Secretary | Sale 10b5-1 plan | 555,556 | $7.18M |
| Jul 15, 2026 | Larson Keith D General Counsel and Secretary | Option exercise 10b5-1 plan | 555,556 | $438.9K |
| Jun 18, 2026 | Thayer Jonathan W Chief Financial Officer | Option exercise 10b5-1 plan | 111,111 | $128.9K |
| Jun 18, 2026 | Thayer Jonathan W Chief Financial Officer | Sale 10b5-1 plan | 111,111 | $1.21M |
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.
Your own record
Start an Inve Case for Venture Global, Inc.
Free account. Everything above stays public.
Write why you follow Venture Global, Inc. and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading