Cheniere Revenue Rises 39% to $6.173 Billion in Third Quarter of 2026

Key Facts

Cheniere Energy posted revenue of $6.173 billion in the third quarter of 2026, up 39% year over year, and net income of $1.170 billion, up 12%, according to the company’s results. Consolidated adjusted earnings before interest, taxes, depreciation and amortization totaled $1.900 billion, an increase of 18% from the same period a year earlier. The comparison shows revenue growth outpaced net income growth, while adjusted earnings rose at a pace between the two. The company said the increase in net income was tied to higher gross margins on delivered LNG. It attributed this to larger volumes recognized in income and improved margins per million British thermal units, as well as lower income tax provisions.

LNG revenue was $6.099 billion in the quarter, compared with $4.302 billion a year earlier, while regasification revenue remained at $34 million in both periods, according to the company’s quarterly filing. Cheniere said the increase in revenue was primarily associated with higher LNG volumes and prices per million British thermal units, driven by higher global prices. The company shipped 188 cargoes totaling 684 trillion British thermal units, compared with 163 cargoes and 586 trillion British thermal units in the third quarter of 2025. Cargoes increased 15% and export volumes rose 17% year over year. The increase in volumes added to the impact of prices and margins that the company cited in explaining the quarter’s results growth.

In the first nine months of 2026, net income was $736 million, compared with $3.028 billion in the corresponding period of 2025. The company said the main reason for the decline was unfavorable differences of $3.6 billion related to changes in the fair value of derivative instruments, most of them tied to long-term agreements with marketing partners. The company also cited factors that offset part of the impact, including higher volumes and a nonrecurring tax credit. The comparison highlights the different trajectory for the nine-month period from the third quarter, when net income rose year over year. This reflects the impact of changes in the fair value of derivatives on reported results for the extended period, alongside operating and margin performance during the quarter.

Cheniere raised its 2026 fiscal-year outlook, widening its consolidated adjusted earnings range to $8.75–9.25 billion from a previous range of $7.90–8.40 billion. It also raised its distributable cash flow range to $6.05–6.55 billion, compared with $5.30–5.80 billion previously. The outlook revision coincided with growth in U.S. LNG exports; the U.S. Energy Information Administration said the average was 17.4 billion cubic feet per day in the first half of 2026, up 23% from the same period a year earlier. The agency estimated an average of 17.3 billion cubic feet per day in the second half of 2026, then 18.7 billion in the first half of 2027. The agency said shipping disruptions through the Strait of Hormuz in March cut 20% of global LNG supplies, most of it from Qatar, and pushed global prices higher.

The company declared a quarterly cash distribution of $0.625 per common share, an increase of more than 12% from the previous quarter, payable on November 17, 2026, to shareholders of record on November 9. Available liquidity at September 30 was $8.079 billion, including $1.663 billion in cash and cash equivalents and $6.023 billion in commitments available through credit facilities. The company also deployed about $1.5 billion under its capital allocation plan during the quarter, including about $731 million in share repurchases and about $740 million in growth investments. These figures combine distributions, share repurchases and growth spending among the capital uses announced by the company. Cheniere shares closed at $297.77 on October 28, 2026.

On expansion and contracts, two Cheniere subsidiaries agreed with QatarEnergy to supply up to 4 million tonnes a year starting in the early 2030s through 2054. One million tonnes a year of the volume remains conditional on a positive final investment decision for the first phase of the Sabine Pass expansion. Chief Executive Jack Fusco said completion of the Corpus Christi Stage 3 project and continued debottlenecking give the company greater visibility into initial production expectations for 2027, without specifying an expected production volume. The Corpus Christi Midscale Trains 8 and 9 expansion project was 58.6% complete as of September 30, with the company targeting substantial completion in the second half of 2028. The company has about 56 million tonnes a year of liquefaction capacity in operation, about 5 million tonnes a year under construction, and more than 40 million tonnes a year in the regulatory permitting pipeline. In October, the company signed a long-term agreement with Petrobras to supply 0.8 million tonnes a year for 22 years; it also scheduled its third-quarter earnings call for October 29 at 11 a.m. Eastern time, or 10 a.m. Central time.