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Venture Global Q1 Earnings Top Estimates on Higher LNG Sales Volumes
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Key Takeaways
Venture Global exported 130 LNG cargoes in Q1, up sharply from 63 cargoes a year ago.
Venture Global's Plaquemines project generated revenues of $3.39B as commissioning activity accelerated.
Venture Global raised 2026 adjusted EBITDA guidance to $8.2B-$8.5B on a stronger LNG outlook.
Venture Global Inc. (VG - Free Report) recorded first-quarter 2026 earnings per share of 19 cents, which topped the Zacks Consensus Estimate of 13 cents by 46.2%. The bottom line improved 18.7% from the year-ago quarter’s 16 cents per share.
Total quarterly revenues of $4.60 billion increased 59% from $2.89 billion in the year-ago quarter. The top line beat the Zacks Consensus Estimate of $4.17 billion by 9.5%.
The strong quarterly results can be attributed to higher liquified natural gas (LNG) sales volumes at the Plaquemines Project as commissioning advanced, along with favorable interest rate swaps and reduced development expenses. Lower LNG sales prices, net of feed gas costs at the Calcasieu project and higher interest expenses partially offset the positives.
Venture Global, Inc. Price, Consensus and EPS Surprise
Plaquemines continued to be the key earnings engine during the quarter as the asset advanced through commissioning. The Plaquemines segment generated revenues of $3.39 billion, while income from operations totaled $1.04 billion.
Calcasieu segment revenues were $1.09 billion, and income from operations totaled $182 million. The Sales and Shipping segment generated revenues of $818 million and income from operations of $99 million.
VG's Operating Income Rises on Higher LNG Volumes
Income from operations totaled $1.15 billion compared with $1.08 billion in the first quarter of 2025. Adjusted EBITDA in the first quarter was $1.37 billion, up from the year-ago level of $1.35 billion, driven by higher LNG sales volumes, which helped offset pressure from lower LNG sales prices, net of feed gas costs.
Net income attributable to common stockholders increased to $488 million from $396 million in the prior-year period. The company attributed the earnings improvement primarily to higher income from operations, along with favorable interest rate swaps and reduced development expense. The positives were partly offset by lower LNG sales prices, net of the cost of feed gas and higher interest expenses.
Venture Global exported 130 cargoes in the first quarter, significantly higher than the 63 cargoes in the year-ago period. Total LNG volumes exported were 487.2 trillion British thermal units (TBtu), up from 233.6 TBtu in the year-ago quarter.
VG’s Costs & Expenses
The cost of sales in the quarter was $2.78 billion, up from the year-ago period’s $1.06 billion, reflecting a sharp increase in LNG volumes moving through the system. Operating and maintenance expenses were $270 million, higher than $252 million in the first quarter of 2025, while depreciation and amortization increased to $251 million from $216 million in the prior-year period.
General and administrative expenses declined to $97 million from $105 million, and development expenses decreased to $46 million from $182 million. Total operating expenses were $3.45 billion, up from $1.81 billion in the March-end quarter of 2025.
Balance Sheet of VG
As of March 31, 2026, the company had $1.6 billion in cash and cash equivalents, restricted cash of $335 million and net long-term debt of $36.5 billion.
VG’s Cash Flow
Net cash from operating activities was $763 million, while capital expenditures were $3.18 billion at the end of the first quarter of 2026.
Venture Global Raises Full-Year Adjusted EBITDA Outlook
VG increased full-year 2026 consolidated adjusted EBITDA guidance to $8.2 billion to $8.5 billion. The guidance assumes a fixed liquefaction fee range of $9.50-$10.50 per million British thermal units for remaining unsold cargoes in 2026.
The company expects to export 147-154 cargoes from the Calcasieu Project and 347-369 cargoes from the Plaquemines Project during the year.
VG’s Zacks Rank
Venture Global currently carries a Zacks Rank #2 (Buy).
Equinor reported first-quarter 2026 adjusted earnings per share of $1.48, which beat the Zacks Consensus Estimate of $1.01.
As of March 31, 2026, EQNR reported $5.9 million in cash and cash equivalents. At the quarter's end, long-term debt and lease liabilities totaled $25 billion.
BP reported first-quarter 2026 earnings of $1.24 per American Depositary Share, which beat the Zacks Consensus Estimate of 91 cents.
As of March 31, 2026, BP reported $35.7 million in cash and cash equivalents. At the quarter's end, its long-term debt totaled $25.3 billion.
Eni reported first-quarter 2026 adjusted earnings from continuing operations of 81 cents per American Depository Receipt, which missed the Zacks Consensus Estimate of $1.13.
As of March 31, 2026, E had a long-term debt of €21.7 billion, and cash and cash equivalents of €8.3 billion.
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Venture Global Q1 Earnings Top Estimates on Higher LNG Sales Volumes
Key Takeaways
Venture Global Inc. (VG - Free Report) recorded first-quarter 2026 earnings per share of 19 cents, which topped the Zacks Consensus Estimate of 13 cents by 46.2%. The bottom line improved 18.7% from the year-ago quarter’s 16 cents per share.
Total quarterly revenues of $4.60 billion increased 59% from $2.89 billion in the year-ago quarter. The top line beat the Zacks Consensus Estimate of $4.17 billion by 9.5%.
The strong quarterly results can be attributed to higher liquified natural gas (LNG) sales volumes at the Plaquemines Project as commissioning advanced, along with favorable interest rate swaps and reduced development expenses. Lower LNG sales prices, net of feed gas costs at the Calcasieu project and higher interest expenses partially offset the positives.
Venture Global, Inc. Price, Consensus and EPS Surprise
Venture Global, Inc. price-consensus-eps-surprise-chart | Venture Global, Inc. Quote
Venture Global Sees Plaquemines Lead Segment Mix
Plaquemines continued to be the key earnings engine during the quarter as the asset advanced through commissioning. The Plaquemines segment generated revenues of $3.39 billion, while income from operations totaled $1.04 billion.
Calcasieu segment revenues were $1.09 billion, and income from operations totaled $182 million. The Sales and Shipping segment generated revenues of $818 million and income from operations of $99 million.
VG's Operating Income Rises on Higher LNG Volumes
Income from operations totaled $1.15 billion compared with $1.08 billion in the first quarter of 2025. Adjusted EBITDA in the first quarter was $1.37 billion, up from the year-ago level of $1.35 billion, driven by higher LNG sales volumes, which helped offset pressure from lower LNG sales prices, net of feed gas costs.
Net income attributable to common stockholders increased to $488 million from $396 million in the prior-year period. The company attributed the earnings improvement primarily to higher income from operations, along with favorable interest rate swaps and reduced development expense. The positives were partly offset by lower LNG sales prices, net of the cost of feed gas and higher interest expenses.
Venture Global exported 130 cargoes in the first quarter, significantly higher than the 63 cargoes in the year-ago period. Total LNG volumes exported were 487.2 trillion British thermal units (TBtu), up from 233.6 TBtu in the year-ago quarter.
VG’s Costs & Expenses
The cost of sales in the quarter was $2.78 billion, up from the year-ago period’s $1.06 billion, reflecting a sharp increase in LNG volumes moving through the system. Operating and maintenance expenses were $270 million, higher than $252 million in the first quarter of 2025, while depreciation and amortization increased to $251 million from $216 million in the prior-year period.
General and administrative expenses declined to $97 million from $105 million, and development expenses decreased to $46 million from $182 million. Total operating expenses were $3.45 billion, up from $1.81 billion in the March-end quarter of 2025.
Balance Sheet of VG
As of March 31, 2026, the company had $1.6 billion in cash and cash equivalents, restricted cash of $335 million and net long-term debt of $36.5 billion.
VG’s Cash Flow
Net cash from operating activities was $763 million, while capital expenditures were $3.18 billion at the end of the first quarter of 2026.
Venture Global Raises Full-Year Adjusted EBITDA Outlook
VG increased full-year 2026 consolidated adjusted EBITDA guidance to $8.2 billion to $8.5 billion. The guidance assumes a fixed liquefaction fee range of $9.50-$10.50 per million British thermal units for remaining unsold cargoes in 2026.
The company expects to export 147-154 cargoes from the Calcasieu Project and 347-369 cargoes from the Plaquemines Project during the year.
VG’s Zacks Rank
Venture Global currently carries a Zacks Rank #2 (Buy).
Recent Q1 Releases From the Energy Sector
Some other top-ranked stocks from the energy sector that have recently released their earnings are Equinor ASA (EQNR - Free Report) , BP plc (BP - Free Report) and Eni S.p.A. (E - Free Report) . EQNR, BP and E each currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Equinor reported first-quarter 2026 adjusted earnings per share of $1.48, which beat the Zacks Consensus Estimate of $1.01.
As of March 31, 2026, EQNR reported $5.9 million in cash and cash equivalents. At the quarter's end, long-term debt and lease liabilities totaled $25 billion.
BP reported first-quarter 2026 earnings of $1.24 per American Depositary Share, which beat the Zacks Consensus Estimate of 91 cents.
As of March 31, 2026, BP reported $35.7 million in cash and cash equivalents. At the quarter's end, its long-term debt totaled $25.3 billion.
Eni reported first-quarter 2026 adjusted earnings from continuing operations of 81 cents per American Depository Receipt, which missed the Zacks Consensus Estimate of $1.13.
As of March 31, 2026, E had a long-term debt of €21.7 billion, and cash and cash equivalents of €8.3 billion.