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VG Q2 Earnings Beat Estimates on Higher LNG Volumes, Outlook Raised
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Key Takeaways
Venture Global's Q2 EPS soared 264.3% y/y to 51 cents as revenues climbed 47.6% to $4.58B.
LNG volumes sold rose 41.7%, while Plaquemines supplied 90 of 127 exported cargoes in the quarter.
Venture Global raised 2026 adjusted EBITDA guidance to $8.70-$9.10B and cargo outlook to 50--518.
Venture Global, Inc. (VG - Free Report) reported second-quarter 2026 earnings of 51 cents per share, beating the Zacks Consensus Estimate of 49 cents by 4.08%. The bottom line skyrocketed 264.3% from 14 cents in the year-ago quarter.
Quarterly revenues rose 47.6% year over year to $4.58 billion and topped the Zacks Consensus Estimate of $4.50 billion by 1.64%. Higher LNG sales volumes, led by Plaquemines commissioning, and stronger LNG sales prices net of feed gas costs drove the results. Venture Global exported 127 cargoes during the quarter.
Venture Global, Inc. Price, Consensus and EPS Surprise
LNG volumes sold increased 41.7% year over year to 466.4 trillion British thermal units, or TBtu, from 329.2 TBtu. Exported LNG volumes rose 44.6% to 478.3 TBtu from 330.8 TBtu.
Plaquemines accounted for 90 cargoes, while Calcasieu Pass contributed 37. The company also exported its 1,000th cargo across its projects, reaching the milestone about four years after its first export.
Venture Global Posts Strong Operating Profit Growth
Income from operations climbed 110.8% year over year to $2.19 billion from $1.04 billion. Consolidated adjusted EBITDA increased 78.8% to $2.49 billion from $1.39 billion, with the EBITDA margin reaching 54%.
Net income attributable to common stockholders was $1.35 billion compared with $368 million a year earlier. Higher sales volumes and better LNG sales prices net of feed gas costs were the primary contributors to the EBITDA increase.
VG Sees Mixed Expense Trends in the Quarter
Cost of sales increased to $1.66 billion from $1.42 billion as LNG volumes rose. Operating and maintenance expenses advanced to $335 million from $217 million, reflecting increased commissioning work at Plaquemines and a larger fleet of Venture Global-owned ships in operation.
General and administrative expenses were $112 million compared with $103 million a year ago. Development expenses fell to $23 million from $57 million, while depreciation and amortization declined to $260 million from $267 million. Total operating expenses were $2.39 billion versus $2.06 billion.
Venture Global Advances Plaquemines & CP2
Plaquemines remains in the final stages of construction, commissioning and assurance testing ahead of Phase 1 commercial operations. Venture Global continues to target Phase 1 commercial operations in the fourth quarter of 2026 and Phase 2 in mid-2027.
CP2 remains on schedule for first LNG in the second half of 2027. The project had 16 liquefaction modules on site, roofs raised on all four LNG storage tanks, and five gas and steam turbines on foundations. Engineering was 100% complete and procurement stood at 79%.
VG Raises Full-Year EBITDA Guidance
Venture Globalraised its 2026 consolidated adjusted EBITDA guidance to $8.70-$9.10 billion from $8.20-$8.50 billion. The updated range assumes a fixed liquefaction fee of $12.50-$13.50 per million British thermal units (MMBtu) for remaining unsold cargoes. A $1 per MMBtu change in the fee is expected to move full-year adjusted EBITDA by $180-$210 million.
The company expects 500-518 cargoes in 2026, including 149-154 from Calcasieu Pass and 351-364 from Plaquemines. As of Aug. 11, 91% of expected 2026 cargoes were contracted at a weighted-average liquefaction fee of $5.05 per MMBtu, while 75% of expected 2027 cargoes were contracted.
Venture Global Expands Liquidity & Shareholder Returns
Cash and restricted cash totaled $4.60 billion as of June 30, 2026, while total assets reached $61.52 billion. The company also had a $2-billion corporate revolving credit facility that remained undrawn and fully available.
Venture Global refinanced $5.30 billion of capital since the start of the second quarter, generating more than $100 million of expected annual interest and coupon savings. The board raised the quarterly dividend 122% to 4 cents per share, payable Sept. 30, to shareholders of record as of Sept. 15.
Zacks Rank & Key Picks
Venture Global currently carries a Zacks Rank #3 (Hold).
View the Zacks #1 Rank List
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VG Q2 Earnings Beat Estimates on Higher LNG Volumes, Outlook Raised
Key Takeaways
Venture Global, Inc. (VG - Free Report) reported second-quarter 2026 earnings of 51 cents per share, beating the Zacks Consensus Estimate of 49 cents by 4.08%. The bottom line skyrocketed 264.3% from 14 cents in the year-ago quarter.
Quarterly revenues rose 47.6% year over year to $4.58 billion and topped the Zacks Consensus Estimate of $4.50 billion by 1.64%. Higher LNG sales volumes, led by Plaquemines commissioning, and stronger LNG sales prices net of feed gas costs drove the results. Venture Global exported 127 cargoes during the quarter.
Venture Global, Inc. Price, Consensus and EPS Surprise
Venture Global, Inc. price-consensus-eps-surprise-chart | Venture Global, Inc. Quote
VG Benefits From Higher LNG Sales Volumes
LNG volumes sold increased 41.7% year over year to 466.4 trillion British thermal units, or TBtu, from 329.2 TBtu. Exported LNG volumes rose 44.6% to 478.3 TBtu from 330.8 TBtu.
Plaquemines accounted for 90 cargoes, while Calcasieu Pass contributed 37. The company also exported its 1,000th cargo across its projects, reaching the milestone about four years after its first export.
Venture Global Posts Strong Operating Profit Growth
Income from operations climbed 110.8% year over year to $2.19 billion from $1.04 billion. Consolidated adjusted EBITDA increased 78.8% to $2.49 billion from $1.39 billion, with the EBITDA margin reaching 54%.
Net income attributable to common stockholders was $1.35 billion compared with $368 million a year earlier. Higher sales volumes and better LNG sales prices net of feed gas costs were the primary contributors to the EBITDA increase.
VG Sees Mixed Expense Trends in the Quarter
Cost of sales increased to $1.66 billion from $1.42 billion as LNG volumes rose. Operating and maintenance expenses advanced to $335 million from $217 million, reflecting increased commissioning work at Plaquemines and a larger fleet of Venture Global-owned ships in operation.
General and administrative expenses were $112 million compared with $103 million a year ago. Development expenses fell to $23 million from $57 million, while depreciation and amortization declined to $260 million from $267 million. Total operating expenses were $2.39 billion versus $2.06 billion.
Venture Global Advances Plaquemines & CP2
Plaquemines remains in the final stages of construction, commissioning and assurance testing ahead of Phase 1 commercial operations. Venture Global continues to target Phase 1 commercial operations in the fourth quarter of 2026 and Phase 2 in mid-2027.
CP2 remains on schedule for first LNG in the second half of 2027. The project had 16 liquefaction modules on site, roofs raised on all four LNG storage tanks, and five gas and steam turbines on foundations. Engineering was 100% complete and procurement stood at 79%.
VG Raises Full-Year EBITDA Guidance
Venture Globalraised its 2026 consolidated adjusted EBITDA guidance to $8.70-$9.10 billion from $8.20-$8.50 billion. The updated range assumes a fixed liquefaction fee of $12.50-$13.50 per million British thermal units (MMBtu) for remaining unsold cargoes. A $1 per MMBtu change in the fee is expected to move full-year adjusted EBITDA by $180-$210 million.
The company expects 500-518 cargoes in 2026, including 149-154 from Calcasieu Pass and 351-364 from Plaquemines. As of Aug. 11, 91% of expected 2026 cargoes were contracted at a weighted-average liquefaction fee of $5.05 per MMBtu, while 75% of expected 2027 cargoes were contracted.
Venture Global Expands Liquidity & Shareholder Returns
Cash and restricted cash totaled $4.60 billion as of June 30, 2026, while total assets reached $61.52 billion. The company also had a $2-billion corporate revolving credit facility that remained undrawn and fully available.
Venture Global refinanced $5.30 billion of capital since the start of the second quarter, generating more than $100 million of expected annual interest and coupon savings. The board raised the quarterly dividend 122% to 4 cents per share, payable Sept. 30, to shareholders of record as of Sept. 15.
Zacks Rank & Key Picks
Venture Global currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are PBF Energy Inc. (PBF - Free Report) , HF Sinclair Corporation (DINO - Free Report) and Cactus, Inc. (WHD - Free Report) . PBF and DINO sport a Zacks Rank #1 (Strong Buy) at present, and WHD carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05.
As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million.
HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39.
As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion.
Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents.
As of June 30, 2026, WHD had cash and cash equivalents of $365 million.