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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-K187

EXE filed 13 annual reports (10-K), 32 quarterly reports (10-Q) and 187 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, 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.
  2. 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.
  3. 8-KEXPAND ENERGY Corp 8-K Report, Material Agreement (Sep 16, 2026)Expand Energy Corporation (EXE) has announced a significant financing event through an underwritten public offering of $500 million in 5.650% Senior Notes due 2031. This offering, executed via an underwriting agreement with Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, aims to raise substantial capital, with the transaction expected to close on September 17, 2026. The offering is registered under a previously filed Form S-3, indicating SEC oversight and compliance. The issuance of these senior notes represents a key strategic move for Expand Energy, likely intended to fund growth initiatives, refinance existing debt, or bolster its balance sheet. Investors should note the interest rate of 5.650% and the maturity date of 2031, which provide specific parameters for evaluating the investment. The involvement of major underwriters like Citigroup and J.P. Morgan suggests a well-structured and potentially robust offering, though standard risks associated with public debt offerings apply.
  4. 8-KEXPAND ENERGY Corp 8-K Report, Executive Changes (Sep 16, 2026)Expand Energy Corporation (EXE) announced a significant leadership transition following the successful completion of its acquisition of Twin Eagle Holdings N.A., LLC on September 16, 2026. While Dan Turco is stepping down from his role as Executive Vice President—Marketing and Commercial, he will remain with the company as Executive Vice President of Commercial Activities. This new role will allow Mr. Turco to concentrate on Liquefied Natural Gas (LNG) initiatives and support the integration of gas marketing operations from the acquired entity.
  5. 8-KEXPAND ENERGY Corp 8-K Report, Corporate Update (Jul 30, 2026)Expand Energy Corporation (EXE) has filed an 8-K to disclose a significant development: the entry into an Agreement and Plan of Merger with Twin Eagle N.A., LLC. This transaction involves EXE acquiring Twin Eagle, a prominent independent natural gas marketing and optimization business, through a merger with its wholly-owned subsidiary, Eikon AW Holdings, LLC. The acquisition is structured as a reverse merger, with Twin Eagle surviving as a subsidiary of EXE. This strategic move aims to enhance EXE's market position by integrating Twin Eagle's established operations. The total consideration for the acquisition is set at $1.25 billion, subject to post-closing adjustments for working capital, cash, and indebtedness. EXE has already paid a $62.5 million deposit. The consummation of this merger is contingent upon customary closing conditions, including antitrust and regulatory approvals from the Hart-Scott-Rodino Act, Canada's Competition Act, and the Federal Energy Regulatory Commission.
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04—See also

Related Companies

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