Summary
Cheniere Energy, Inc. reported a net loss of $3.502 billion for the first quarter of 2026, a significant decrease from a net income of $353 million in the same period of 2025. This loss was primarily driven by a substantial $4.8 billion unfavorable change in the fair value of derivative instruments, largely related to long-term Integrated Physical Marketing (IPM) agreements, exacerbated by widening global to U.S. natural gas price spreads and increased market volatility. Despite the net loss, operational performance showed strength with an increase in total revenues to $5.868 billion from $5.444 billion year-over-year, largely due to higher LNG volumes delivered from the Corpus Christi Stage 3 Project and increased Henry Hub pricing. The company also reaffirmed its commitment to growth, with significant progress on its Corpus Christi LNG Terminal expansion projects and a substantial remaining share repurchase authorization of approximately $9.7 billion as of March 31, 2026.
Financial Highlights
49 data points| Revenue | $5.87B |
| SG&A Expenses | $136.00M |
| Operating Expenses | $9.36B |
| Operating Income | -$3.49B |
| Net Income | -$3.50B |
| EPS (Basic) | $-16.65 |
| EPS (Diluted) | $-16.65 |
| Shares Outstanding (Basic) | 210.50M |
| Shares Outstanding (Diluted) | 210.50M |
Key Highlights
- 1Reported a net loss of $3.502 billion for Q1 2026, compared to a net income of $353 million in Q1 2025, primarily due to significant unfavorable fair value changes in derivative instruments.
- 2Total revenues increased to $5.868 billion from $5.444 billion year-over-year, driven by higher LNG volumes and Henry Hub pricing.
- 3Operating costs and expenses surged to $9.356 billion from $4.483 billion, largely due to unfavorable changes in derivative instruments included in cost of sales and increased natural gas feedstock costs.
- 4The company achieved substantial completion of Train 5 of the Corpus Christi Stage 3 Project in March 2026.
- 5Cheniere issued $1.75 billion in new senior notes in March 2026 and used proceeds to repay debt.
- 6The share repurchase authorization was increased to approximately $10 billion, with $9.7 billion remaining as of March 31, 2026.
- 7Liquidity remains strong, with total available liquidity of $8.349 billion as of March 31, 2026, including cash and available credit facilities.