Cheniere Energy Inc

Latest Results (13.07.2026):

Cheniere Energy, Inc. — First Quarter 2026: Cheniere reported strong operating and cash results in 1Q 2026, with revenues of $5,868 million, Consolidated Adjusted EBITDA of $2,333 million and Distributable Cash Flow of approximately $1,670 million. Adjusted Net Income (excluding non‑cash unrealized derivative effects) was about $1,006 million, while reported GAAP Net Loss attributable to Cheniere was $(3,502) million driven by mark‑to‑market derivative effects. The company exported record volumes (688 TBtu) and 187 cargoes, executed ~$1.2 billion of capital allocation actions in the quarter (including ~$537 million of share repurchases), and raised full‑year 2026 guidance for Consolidated Adjusted EBITDA and Distributable Cash Flow.

Key financials

1Q 2026 results: Revenues $5,868M; Consolidated Adjusted EBITDA $2,333M (up vs. 1Q 2025 $1,872M); Distributable Cash Flow ~$1,670M (vs. ~$1,270M prior year). Adjusted Net Income ~ $1,006M (ex‑unrealized derivative impacts). Reported GAAP Net Loss $(3,502)M primarily reflecting non‑cash fair value changes on derivatives.

Guidance update

Cheniere raised full‑year 2026 guidance: Consolidated Adjusted EBITDA revised from $6.75–$7.25B to $7.25–$7.75B, and Distributable Cash Flow revised from $4.35–$4.85B to $4.75–$5.25B. CQP distribution guidance per unit remained $3.10–$3.40.

Production, exports and commercial

Operationally strong: produced 646 TBtu recognized in income (with some in‑transit timing effects), exported a record 688 TBtu and 187 cargoes in 1Q 2026. CCL Stage 3 progress accelerated (several trains near completion), supporting higher 2026 production expectations and forward selling activity.

Capital allocation and shareholder returns

Capital actions in 1Q 2026: deployed ~ $1.2B under the capital allocation plan, repurchased ~2.7M shares for ~$537M, invested ~ $1B of growth capex (with ~$301M equity funded), and declared a quarterly dividend of $0.555/share for 1Q 2026. CQP declared a $0.790/unit distribution for 1Q 2026.

Balance sheet and financing

Balance sheet moves: repaid ~$253M of long‑term debt (including redemption of SPL 2026 notes), issued $1.0B of 5.200% notes due 2036 and $750M of 6.000% notes due 2056, and exited the quarter with consolidated cash balance of ~ $1.5B (including restricted cash). Moody’s upgraded CEI senior unsecured and CCH senior secured ratings to Baa2 and Baa1, respectively.

Outlook drivers and risks

What will matter for the remainder of 2026: timing and ramp‑up of remaining CCL Stage 3 trains, upstream/downstream optimizations, international price volatility and cargo timing. Company notes a sensitivity of less than $50M Consolidated Adjusted EBITDA per $1/MMBtu change in market margin for full‑year 2026.