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Why Is Expand Energy (EXE) Up 6% Since Last Earnings Report?
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It has been about a month since the last earnings report for Expand Energy (EXE - Free Report) . Shares have added about 6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Expand Energy due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Expand Energy Q4 Earnings Beat Estimates on Strong Production
Expand Energy reported fourth-quarter 2025 adjusted earnings per share of $2, beating the Zacks Consensus Estimate of $1.89. The company’s bottom line increased from the year-ago adjusted profit of 55 cents, fueled by strong production and higher natural gas price realization.
Expand Energy’s ‘natural gas, oil and NGL’ revenues of $2.3 billion surpassed the Zacks Consensus Estimate of $2.2 billion. The top line was also higher than the year-ago figure of $1.6 billion.
Production & Price Realizations
The company reported the average fourth-quarter daily production (comprising 92% natural gas) of 7,400 million cubic feet of gas equivalent (MMcfe/day), increasing 15.4% from the year-ago level of 6,412 MMcfe/day. The daily production levels surpassed the Zacks Consensus Estimate of 7,288 MMcfe/day. Natural gas volume for the period came in at 6,824 MMcfe/day, up 17% year over year. The consensus mark called for 6,711 MMcf/day of natural gas. EXE’s oil production was 16 thousand barrels per day (MBbl/d), while NGL output totaled 80 MBbl/d.
The average sales price for natural gas during the fourth quarter was $3.28 per Mcf, up 33.9% from the prior-year realization of $2.45 per Mcf, and it was also above the consensus mark of $3.21. The average realized oil price was $47.97 per barrel compared with the consensus mark of $48.56. Meanwhile, the average realized NGL price was $23.48 per barrel, above the Zacks Consensus Estimate of$22.77.
Q4 Costs & Expenses
Total operating expenses in the quarter rose to $2.5 billion from the year-ago quarter’s $2.4 billion. This was mainly due to an increase in gathering, processing and transportation, marketing and a one-time impairment cost. The company’s gathering, processing and transportation, and marketing cost of $642 million and $791 million during the fourth quarter of 2025 rose from the year-ago level of $556 million and $654 million, respectively. Furthermore, Expand Energy also incurred a one-time impairment charge of $37 million during the fourth quarter of 2025.
Dividend & Share Repurchases
In the fourth quarter, the company plans to pay its quarterly base dividend of 57.5 cents per share on March 26, 2026, to its shareholders of record on March 05. Furthermore, Expand Energy plans to focus on reducing debt in 2026 to reinforce its balance sheet and enhance financial flexibility during market lows while continuing to reward shareholders through its base dividend and share buybacks.
Financial Position
Cash flow from operations totaled $956 million, which increased significantly from the prior-year quarter levels of $382 million, while Expand Energy’s capital expenditure totaled $741 million, leading to a free cash flow of $215 million. It also paid out $137 million in dividends during the period.
As of Dec. 31, 2025, the company had $616 million in cash and cash equivalents. Expand Energy had a long-term debt of $5 billion, reflecting a debt-to-capitalization of 21.2%.
Guidance for Q1 & 2026
Expand Energy is targeting an average daily production in the range of 7,400-7,500 MMcfe for the first quarter of 2026 and 7,400-7,600 MMcfe for full-year 2026. The company has budgeted its capital spending between $715 million and $790 million for the upcoming quarter, while for 2026, the figure is projected to be between $2.75 billion and $2.95 billion.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended upward during the past month.
The consensus estimate has shifted 34.01% due to these changes.
VGM Scores
Currently, Expand Energy has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Expand Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Expand Energy is part of the Zacks Alternative Energy - Other industry. Over the past month, TC Energy (TRP - Free Report) , a stock from the same industry, has gained 3.4%. The company reported its results for the quarter ended December 2025 more than a month ago.
TC Energy reported revenues of $2.99 billion in the last reported quarter, representing a year-over-year change of +16.9%. EPS of $0.70 for the same period compares with $0.75 a year ago.
For the current quarter, TC Energy is expected to post earnings of $0.75 per share, indicating a change of +13.6% from the year-ago quarter. The Zacks Consensus Estimate has changed +2% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for TC Energy. Also, the stock has a VGM Score of F.
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Why Is Expand Energy (EXE) Up 6% Since Last Earnings Report?
It has been about a month since the last earnings report for Expand Energy (EXE - Free Report) . Shares have added about 6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Expand Energy due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Expand Energy Q4 Earnings Beat Estimates on Strong Production
Expand Energy reported fourth-quarter 2025 adjusted earnings per share of $2, beating the Zacks Consensus Estimate of $1.89. The company’s bottom line increased from the year-ago adjusted profit of 55 cents, fueled by strong production and higher natural gas price realization.
Expand Energy’s ‘natural gas, oil and NGL’ revenues of $2.3 billion surpassed the Zacks Consensus Estimate of $2.2 billion. The top line was also higher than the year-ago figure of $1.6 billion.
Production & Price Realizations
The company reported the average fourth-quarter daily production (comprising 92% natural gas) of 7,400 million cubic feet of gas equivalent (MMcfe/day), increasing 15.4% from the year-ago level of 6,412 MMcfe/day. The daily production levels surpassed the Zacks Consensus Estimate of 7,288 MMcfe/day. Natural gas volume for the period came in at 6,824 MMcfe/day, up 17% year over year. The consensus mark called for 6,711 MMcf/day of natural gas. EXE’s oil production was 16 thousand barrels per day (MBbl/d), while NGL output totaled 80 MBbl/d.
The average sales price for natural gas during the fourth quarter was $3.28 per Mcf, up 33.9% from the prior-year realization of $2.45 per Mcf, and it was also above the consensus mark of $3.21. The average realized oil price was $47.97 per barrel compared with the consensus mark of $48.56. Meanwhile, the average realized NGL price was $23.48 per barrel, above the Zacks Consensus Estimate of$22.77.
Q4 Costs & Expenses
Total operating expenses in the quarter rose to $2.5 billion from the year-ago quarter’s $2.4 billion. This was mainly due to an increase in gathering, processing and transportation, marketing and a one-time impairment cost. The company’s gathering, processing and transportation, and marketing cost of $642 million and $791 million during the fourth quarter of 2025 rose from the year-ago level of $556 million and $654 million, respectively. Furthermore, Expand Energy also incurred a one-time impairment charge of $37 million during the fourth quarter of 2025.
Dividend & Share Repurchases
In the fourth quarter, the company plans to pay its quarterly base dividend of 57.5 cents per share on March 26, 2026, to its shareholders of record on March 05. Furthermore, Expand Energy plans to focus on reducing debt in 2026 to reinforce its balance sheet and enhance financial flexibility during market lows while continuing to reward shareholders through its base dividend and share buybacks.
Financial Position
Cash flow from operations totaled $956 million, which increased significantly from the prior-year quarter levels of $382 million, while Expand Energy’s capital expenditure totaled $741 million, leading to a free cash flow of $215 million. It also paid out $137 million in dividends during the period.
As of Dec. 31, 2025, the company had $616 million in cash and cash equivalents. Expand Energy had a long-term debt of $5 billion, reflecting a debt-to-capitalization of 21.2%.
Guidance for Q1 & 2026
Expand Energy is targeting an average daily production in the range of 7,400-7,500 MMcfe for the first quarter of 2026 and 7,400-7,600 MMcfe for full-year 2026. The company has budgeted its capital spending between $715 million and $790 million for the upcoming quarter, while for 2026, the figure is projected to be between $2.75 billion and $2.95 billion.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended upward during the past month.
The consensus estimate has shifted 34.01% due to these changes.
VGM Scores
Currently, Expand Energy has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Expand Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Expand Energy is part of the Zacks Alternative Energy - Other industry. Over the past month, TC Energy (TRP - Free Report) , a stock from the same industry, has gained 3.4%. The company reported its results for the quarter ended December 2025 more than a month ago.
TC Energy reported revenues of $2.99 billion in the last reported quarter, representing a year-over-year change of +16.9%. EPS of $0.70 for the same period compares with $0.75 a year ago.
For the current quarter, TC Energy is expected to post earnings of $0.75 per share, indicating a change of +13.6% from the year-ago quarter. The Zacks Consensus Estimate has changed +2% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for TC Energy. Also, the stock has a VGM Score of F.