Cheniere Energy Stock Earnings Reports

Cheniere reported strong operational and financial results for Q3 2025 with consolidated adjusted EBITDA of ~ $1.6 billion, distributable cash flow (DCF) of ~ $1.6 billion and net income of ~ $1.0 billion. Management reconfirmed full-year 2025 EBITDA guidance of $6.6B–$7.0B and raised full‑year DCF guidance to $4.8B–$5.2B (driven primarily by a favorable IRS CAMT rule change and prior bonus depreciation impacts). Major project progress: Corpus Christi Stage 3 exceeded 90% total completion, achieved substantial completion of Train 3 ahead of plan, and accelerated the Train 4 timeline to expect first LNG soon with substantial completion by year‑end; trains 5–7 are expected to reach substantial completion across spring, summer and fall 2026. 2026 production is preliminarily forecast at ~51–53 million tonnes (about 50–52 mt after commissioning/in‑transit timing), up ~5 mt YoY, with ~47 mt covered by long‑term contracts and ~3–5 mt of spot volume for marketing. Operationally, the company faced feed‑gas composition variability (nitrogen and heavier hydrocarbons) and is deploying process and engineering fixes plus planned maintenance in 2026 to bolster reliability. Capital allocation: Cheniere deployed ~ $1.8B in the quarter across growth CapEx, dividends and buybacks (repurchased ~4.4M shares for just over $1B), declared an increased quarterly dividend of $0.555/share (annualized $2.22), and has now deployed ~$18B of an initial $20B target through 2026 (on track to surpass it and already advancing toward a $25B through‑2030 target). Liquidity and balance sheet remain strong (cash ~ $1.4B, significant undrawn revolvers/term loan capacity); they repaid notes and reshaped maturities to lower interest and improve positioning for future brownfield expansion. Market view: management expects LNG supply growth (U.S. and global) to moderate spot prices over 2026–2030, catalyzing price‑sensitive demand—particularly in Asia—while Cheniere’s highly contracted platform insulates cash flow and supports disciplined brownfield growth.