Venture Global Stock Earnings Reports

Venture Global reported strong operational and financial momentum in Q1 2026. Management highlighted the FID of CP2 Phase II and rapid construction progress that they expect will make CP2 one of the fastest FID-to-first-LNG projects in the industry. Total assets rose to ~$56 billion and the company now has ~52 MTPA of medium- and long-term contracts representing approximately $137 billion of revenue backlog. Q1 revenue was $4.6 billion (up vs. prior year) and consolidated adjusted EBITDA was $1.4 billion; management raised 2026 EBITDA guidance to $8.2–$8.5 billion (from $5.2–$5.8B), driven by higher cargo volumes and contracted pricing assumptions. Operationally, the company exported a record 130 cargoes in Q1 and has not missed a scheduled cargo since Calcasieu Pass COD. Financing activity in Q2 simplified capital structure and lowered interest costs (including $8.6B project financing for CP2 Phase II, Term Loan B refinancing, and $750M Calcasieu Pass notes). The company is actively contracting available capacity (84% contracted for 2026) and plans bolt-on expansions (CP2 full expansion now scoped at ~10 MTPA / 12 trains and Plaquemines bolt-ons) to capture accretive growth. Management emphasized a low-cost U.S. feed gas advantage, proprietary operational/data capabilities that drive throughput and lower unit costs, and a path toward investment-grade credit metrics as cash flows ramp. Key risks called out include market seasonality, uncertainty from Middle East supply disruptions, and the timing of project ramp-ups and commissioning.