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EXPAND ENERGY CorpEXE

Sector
Energy
Industry
Crude Petroleum & Natural Gas
Exchange
Nasdaq

Stock Price $EXE

Latest filings

You are here#25 of 25 in Energy by market cap

Filing record · 2016–202610-K1310-Q328-K189

EXE filed 13 annual reports (10-K), 32 quarterly reports (10-Q) and 189 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Oct ’18Oct ’18
  2. Bankruptcy8-K · Jun ’20Jun ’20
  3. Deal closed8-K · Mar ’22Mar ’22
  4. Material agreement8-K · Sep ’25Sep ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $12.12B
YoY changeLargest recent move+111.6%in FY22Latest +186.3%

1 older move runs past ±150% (largest +186.3%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All EXE Financial Metrics61 metrics

Income Statement14

Balance Sheet27

Cash Flow15

Per Share5

02—Overview

EXPAND ENERGY Corp Financial Overview 2021–2025

Updated Jul 10, 2026

Expand Energy's natural gas, oil, and NGL sales exploded to $8,476 milliona in FY2025, a staggering surge driven by the Southwestern Energy merger and recovering commodity prices. This newly rebranded entity has successfully transformed from a post-bankruptcy restructuring story into an investment-grade U.S. natural gas powerhouse.

Financial flexibility has expanded dramatically alongside the company's operational footprint. Unused borrowing capacity scaled from $1.72 billionb in FY2021 to an upsized $3.5 billion credit facility limit by FY2025. Management leveraged this combined asset base to rapidly repair the balance sheet, eliminating approximately $1.2 billion in total debt within a single year. The mega-merger also boosted total proved reserves to a massive 25,880 Bcfe. Capitalizing on this scale, the company returned $865 million to shareholders through a combination of dividends and share repurchases.

Market valuation closely tracked this volatile fundamental trajectory. After navigating a commodity downcycle and merger integration costs that pushed earnings to a loss of $-4.55 per share in FY2024, the consolidated platform rapidly stabilized. Investors rewarded the subsequent debt reduction and S&P 500 inclusion, valuing the equity at $110.36c per share at the close of FY2025.

Recent Developments (Q4 2025 and Q1 2026)

Expand Energy's Q1 2026 results demonstrated a massive operational turnaround, shifting to a net income of $1.159 billiond compared to a $249 million net loss in Q1 2025. Total revenues surged by $2.1 billion year-over-year to $4.397 billion, while operating cash flow more than doubled to $2.402 billion. Amidst this financial upswing, the company navigated significant executive turnover, replacing its CEO with Interim CEO Michael Wichterich in February 2026 and appointing Marcel Teunissen as CFO in April 2026, alongside plans to relocate its headquarters to Texas by mid-2026.

Bulls highlight the robust liquidity that allowed the company to retire $1.287 billione in senior notes using cash on hand during April 2026. Bears caution that despite the recent quarterly profit, trailing unprofitability leaves the stock valued at a negative -21.3x earnings as of the Q1 2026 reporting date.

What to watch: the search for a permanent CEO; execution of the $2.75-$2.95 billion capital expenditure guidance for 2026

03—Filings

Recent SEC Filings

  1. 8-KEXPAND ENERGY Corp 8-K Report, Executive Changes (Oct 19, 2026)Expand Energy Corporation (EXE) announced a significant leadership change with the appointment of Daniel E. Brown as its new President and Chief Executive Officer, effective October 26, 2026. Mr. Brown brings a wealth of experience from his previous roles as CEO of Chord Energy Corporation and various leadership positions at Anadarko Petroleum. This appointment signals a strategic move by the company to leverage experienced leadership to drive future growth and value creation. The transition is smooth, with the interim CEO, Michael Wichterich, returning to his role as Non-Executive Chairman, with no disagreements reported. Mr. Brown's compensation package includes a base salary of $1,000,000, an annual target bonus of 125% of base salary, and substantial long-term incentive awards, including both restricted stock units (RSUs) and performance share units (PSUs). A significant portion of his compensation is a 'make-whole' equity award designed to compensate for forfeited compensation from his prior employer. These awards are subject to time-based and performance-based vesting, with provisions for accelerated vesting upon a Qualifying Termination. Additionally, Mr. Brown will join the Board of Directors.
  2. 8-KEXPAND ENERGY Corp 8-K Report, Executive Changes (Oct 13, 2026)Expand Energy Corporation (EXE) announced on October 13, 2026, the appointment of Sarah Grose as its new Vice President – Chief Accounting Officer, effective immediately. This appointment fills the critical role of principal accounting officer, a position that has been temporarily managed by Marcel Teunissen, the EVP and CFO. Ms. Grose is a seasoned internal candidate, having been with the company since 2019 and most recently serving as Director – Corporate Accounting, indicating a strong understanding of the company's financial operations. Ms. Grose's compensation package includes an annual base salary of $325,000, an annual cash performance bonus target of 50% of her base salary, and an annual long-term incentive target of $500,000. These terms are effective immediately and will be prorated for 2026. The company emphasizes that her appointment is standard, with no undisclosed arrangements and no conflicts of interest or reportable related-party transactions.
  3. 8-KEXPAND ENERGY Corp 8-K Report, Material Agreement (Oct 6, 2026)Expand Energy Corporation (EXE) has filed an 8-K to report a material amendment to its existing credit agreement. Specifically, Amendment No. 1 to the Amended and Restated Credit Agreement, dated October 6, 2026, extends the maturity date of the Company's credit facility by one year. This extension moves the maturity from September 30, 2030, to September 30, 2031. This extension provides Expand Energy with additional financial flexibility and a longer runway for its operations and strategic initiatives without the immediate pressure of refinancing the credit facility. Investors should view this as a positive development for the company's financial planning and stability, as it addresses a key upcoming debt obligation and shores up its capital structure for the near to medium term.
  4. 8-KEXPAND ENERGY Corp 8-K Report, Material Agreement (Sep 17, 2026)Expand Energy Corporation (EXE) has announced the successful closing of its underwritten public offering of $500 million in 5.650% Senior Notes due 2031. This offering was conducted under a previously effective shelf registration statement, demonstrating the company's ability to access capital markets efficiently. The net proceeds from this offering will provide the company with additional financial flexibility, which could be utilized for various corporate purposes, including general corporate needs, operational expansion, or strategic investments. These Senior Notes are unsecured obligations of Expand Energy Corporation and rank equally with other existing and future unsecured senior debt. Notably, they are structurally subordinated to any debt incurred by the company's subsidiaries, as they are not guaranteed by any subsidiary. Investors should note the optional redemption features, which allow the company to redeem the notes under specific conditions and pricing, particularly before the Par Call Date in August 2031. The indenture includes customary covenants that place restrictions on the company's ability to incur additional liens and on significant corporate transactions such as mergers or asset sales, providing a degree of protection to noteholders.
  5. 8-KEXPAND ENERGY Corp 8-K Report, Material Agreement (Sep 16, 2026)Expand Energy Corporation (NASDAQ: EXE) priced a underwritten public offering of $500 million aggregate principal amount of 5.650% Senior Notes due 2031 on September 15, 2026, according to the Form 8-K and the accompanying press release (Exhibit 99.1). The notes were sold to the public at 99.889% of face value, so the discount to par is about $0.56 million before underwriting fees, which the filing does not disclose. Closing is expected on September 17, 2026, subject to customary conditions. Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the representatives of the underwriters. The company plans to use the net proceeds for general corporate purposes. The filing does not specify particular uses such as debt repayment, capital expenditures, or acquisitions, and it does not disclose the company's pro forma leverage, credit ratings, or the effect on its liquidity. The offering was made under an effective Form S-3 shelf registration (File No. 333-283348) filed November 20, 2024, with a prospectus supplement, so it does not require a new registration statement. For investors, this is a routine, modest debt issuance relative to a company of Expand Energy's scale. It adds a new tranche of fixed-rate debt maturing in 2031 and does not signal a change in strategy. The key items to monitor are how the new notes affect the company's overall debt maturity profile and interest burden, and how management allocates the proceeds, which the company has not detailed beyond general corporate purposes.
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04—See also

Related Companies

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