Expand Energy Corporation (EXE Quick QuoteEXE - Free Report) is set to release first-quarter 2026 earnings on April 28, 2026.The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a profit of $3.69 per share on revenues of $2.97 billion.

Let us delve into the factors that might have influenced EXE’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.

Highlights of EXE’s Q4 Earnings & Surprise History

In the fourth quarter, the U.S.-based natural gas producer’s adjusted earnings of $2 per share beat the Zacks Consensus Estimate of $1.89, driven by strong production and higher natural gas price realization. Moreover, the company’s ‘natural gas, oil and NGL’ revenues of $2.3 billion surpassed the Zacks Consensus Estimate of $2.2 billion. Expand Energy’s earnings beat the consensus estimate in three of the trailing four quarters and missed in one, delivering an average surprise of 5.43%

This is depicted in the graph below. 

Expand Energy Corporation Price and EPS Surprise

Expand Energy Corporation price-eps-surprise | Expand Energy Corporation Quote

Trend in the Estimate Revision of EXE

The Zacks Consensus Estimate for first-quarter 2026 earnings has remained unchanged overall but has recorded two downward revisions in the past seven days. The estimated figure indicates an 82.67% year-over-year bottom-line increase. Moreover, the Zacks Consensus Estimate for revenues indicates an increase of 29.19% from the year-ago period’s level.

Factors to Consider Ahead of EXE’s Q1 Release

Expand Energy generates revenues primarily by extracting and selling natural gas from major shale basins, including the Haynesville and Marcellus/Utica regions, and supplying utilities, industrial customers and LNG exporters.

The company’s revenues depend largely on the price of gas and the volume it produces. Expand Energy follows a typical exploration and production model — acquiring reserves, drilling wells and selling output — while focusing on operational efficiency and scale to keep costs low and margins stable. It also benefits from proximity to LNG export terminals, which provide exposure to global demand, and generates smaller contributions from natural gas liquids, oil production and occasional asset transactions.

We believe EXE stands to benefit from strengthening natural gas demand — driven by LNG exports, expanding AI and data center energy consumption, EV growth and broader electrification — supported by its core positions in the Haynesville and Marcellus basins. Based on our estimates, we expect the company’s total daily production to increase 9.5% year over year compared with the same quarter last year. We also expect EXE’s average realized sales price to rise 32.7% year over year to $4.75 from the last year’s level.

Rising expenses might have weighed on results. EXE’s fourth-quarter total costs and expenses were 5.9% higher than the year-ago quarter’s figure, and this upward trajectory is expected to have persisted in the quarter to be reported. Combined spending on production costs, gathering, processing and transportation, marketing, and depreciation, depletion and amortization, along with persistent inflationary pressures, might have continued to weigh on margins.

What Does Our Model Say About EXE?

The proven Zacks model does not conclusively predict an earnings beat for Expand Energy this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. This is not the case here.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

EXE’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is 0.00%.

EXE’s Zacks Rank:  EXE currently carries a Zacks Rank #3.

Stocks to Consider

Here are some firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.

ConocoPhillips (COP Quick QuoteCOP - Free Report) has an Earnings ESP of +8.05% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

The firm is scheduled to release earnings on April 30. ConocoPhillips is a U.S.-based exploration and production company focused on discovering, developing, and producing oil and natural gas resources across multiple regions worldwide. Notably, the Zacks Consensus Estimate for ConocoPhillips’s 2026 earnings per share indicates 57.64% year-over-year growth. Valued at around $149.43 billion, ConocoPhillips’ shares have risen 38.5% in a year.

TotalEnergies (TTE Quick QuoteTTE - Free Report) has an Earnings ESP of +20.30% and a Zacks Rank #1. The firm is scheduled to release earnings on April 30. TotalEnergies is a France-based global energy company engaged in oil and gas exploration, production, refining and a growing portfolio of renewable and low-carbon energy solutions worldwide.

Notably, the Zacks Consensus Estimate for TotalEnergies’ 2026 earnings per share indicates 25.54% year-over-year growth. Valued at around $214.76 billion, TotalEnergies has gained 54.1% in a year.

Valero Energy Corporation (VLO Quick QuoteVLO - Free Report) has an Earnings ESP of +3.23% and a Zacks Rank #1. The firm is scheduled to release earnings on April 30. Valero Energy is a leading international manufacturer and marketer of transportation fuels, petrochemical products and renewable diesel.

Notably, the Zacks Consensus Estimate for Valero Energy’s 2026 earnings per share indicates 79.36% year-over-year growth. Valued at around $70.08 billion, Valero Energy has gained 104.2% in a year.