Cheniere Energy (LNG) Q2 2026 earnings summary

Executive summary

• Achieved record operational and financial performance in Q2 2026, with consolidated adjusted EBITDA of $1.8B, net income of $3.07B, and distributable cash flow of ~$1.2B, driven by higher production and reliability.

• Exported 184 LNG cargoes (672 TBtu), a 20% year-over-year increase, supported by accelerated project ramp-up and debottlenecking.

• Raised full-year 2026 guidance for consolidated adjusted EBITDA to $7.90–$8.40B and DCF to $5.30–$5.80B, with the new low end above the previous high end.

• Advanced major growth projects, including substantial completion of CCL Stage 3 Train 6 and progress on SPL Expansion Phase 1.

• Returned over $666M to shareholders in Q2 2026 through dividends and share repurchases.

Financial highlights

• Q2 2026 revenues rose to $5.73B, up 24% year-over-year; net income surged 89% to $3.07B.

• Consolidated adjusted EBITDA for Q2 was $1.80B, up 27% year-over-year; distributable cash flow grew to ~$1.17B.

• 184 LNG cargoes exported in Q2, up from 154 in Q2 2025.

• Dividend declared at $0.555 per share; total H1 2026 dividend payout ~$230M.

• Repurchased 2.2M shares in Q2 for $550M; H1 buybacks total ~$1.1B for nearly 5M shares.

Outlook and guidance

• Full-year 2026 consolidated adjusted EBITDA guidance raised to $7.90–$8.40B; DCF guidance to $5.30–$5.80B.

• Production forecast increased to 53–54 million tons, reflecting improved reliability and ramp-up.

• Less than 1M tons of open volumes remain for 2026, limiting market volatility exposure.

• Committed to annual dividend growth of at least 10% through decade end.

• Expect to seek Board approval for annual dividend increase in 3Q.