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Why Is Expand Energy (EXE) Up 4.5% Since Last Earnings Report?
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A month has gone by since the last earnings report for Expand Energy (EXE - Free Report) . Shares have added about 4.5% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Expand Energy due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for Expand Energy Corporation before we dive into how investors and analysts have reacted as of late.
Expand Energy Q2 Earnings Beat Estimates on Strong Production
Expand Energy reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate by 9%. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses.
Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion.
On July 27, Expand Energy announced the acquisition of Twin Eagle, creating North America’s leading integrated natural gas company.
Production & Price Realizations
The company reported the average second-quarter daily production (comprising 92% natural gas) of 7,482 million cubic feet of gas equivalent (MMcfe/day), increasing 3.9% from the year-ago level of 7,202 MMcfe/day. The daily production levels surpassed the Zacks Consensus Estimate of 7,460 MMcfe/day. Natural gas volume for the period came in at 6,896 MMcfe/day, up 4.5% year over year. The consensus mark called for 6,898 MMcf/day of natural gas. EXE’s oil production was 14 thousand barrels per day (MBbl/d), while NGL output totaled 83 MBbl/d.
The average sales price for natural gas during the second quarter was $2.42 per Mcf, down 17.4% from the prior-year realization of $2.93 per Mcf. It was also below the consensus mark of $2.64. The average realized oil price was $84.71 per barrel compared with the consensus mark of $80. Meanwhile, the average realized NGL price was $26.26 per barrel, above the Zacks Consensus Estimate of $25.79.
Costs & Expenses
Total operating expenses in the quarter were $2.3 billion, lower than the year-ago quarter’s $2.4 billion. This was mainly driven by decreases in exploration, marketing and depreciation, depletion and amortization expenses. The company’s exploration, marketing and depreciation, depletion and amortization expenses of $16 million, $649 million and $722 million during the second quarter of 2026 decreased from the year-ago levels of $20 million, $791 million and $769 million, respectively.
Dividend & Share Repurchases
In the second quarter, the company plans to pay its quarterly base dividend of 57.5 cents per share on Sept. 3, 2026, to its shareholders of record on Aug. 13. Furthermore, Expand Energy expects to continue its returns-focused allocation of capital, including share repurchases, while preserving its balance sheet capacity.
Year-to-date through July 24, 2026, Expand Energy has redeemed approximately $1.3 billion of gross debt and executed $849 million of share repurchases.
Financial Position
Cash flow from operations totaled $1.1 billion, decreasing from the prior-year quarter levels of $1.3 billion, while Expand Energy’s cash capital expenditure totaled $753 million, leading to a free cash flow of $343 million. It also paid out $138 million in dividends during the period.
As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had long-term debt of $3.7 billion, reflecting a debt-to-capitalization ratio of 15.96%.
Guidance for Q3 & 2026
Expand Energy is targeting an average daily production in the range of 7,400-7,500 MMcfe for the third quarter of 2026 and 7,400-7,600 MMcfe for full-year 2026. The company has budgeted its capital spending between $700 million and $780 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 downward during the past month.
VGM Scores
Currently, Expand Energy has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of A on the value side, putting it in the top 20% 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 downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Expand Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
View the Zacks #1 Rank List
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Why Is Expand Energy (EXE) Up 4.5% Since Last Earnings Report?
A month has gone by since the last earnings report for Expand Energy (EXE - Free Report) . Shares have added about 4.5% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Expand Energy due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for Expand Energy Corporation before we dive into how investors and analysts have reacted as of late.
Expand Energy Q2 Earnings Beat Estimates on Strong Production
Expand Energy reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate by 9%. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses.
Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion.
On July 27, Expand Energy announced the acquisition of Twin Eagle, creating North America’s leading integrated natural gas company.
Production & Price Realizations
The company reported the average second-quarter daily production (comprising 92% natural gas) of 7,482 million cubic feet of gas equivalent (MMcfe/day), increasing 3.9% from the year-ago level of 7,202 MMcfe/day. The daily production levels surpassed the Zacks Consensus Estimate of 7,460 MMcfe/day. Natural gas volume for the period came in at 6,896 MMcfe/day, up 4.5% year over year. The consensus mark called for 6,898 MMcf/day of natural gas. EXE’s oil production was 14 thousand barrels per day (MBbl/d), while NGL output totaled 83 MBbl/d.
The average sales price for natural gas during the second quarter was $2.42 per Mcf, down 17.4% from the prior-year realization of $2.93 per Mcf. It was also below the consensus mark of $2.64. The average realized oil price was $84.71 per barrel compared with the consensus mark of $80. Meanwhile, the average realized NGL price was $26.26 per barrel, above the Zacks Consensus Estimate of $25.79.
Costs & Expenses
Total operating expenses in the quarter were $2.3 billion, lower than the year-ago quarter’s $2.4 billion. This was mainly driven by decreases in exploration, marketing and depreciation, depletion and amortization expenses. The company’s exploration, marketing and depreciation, depletion and amortization expenses of $16 million, $649 million and $722 million during the second quarter of 2026 decreased from the year-ago levels of $20 million, $791 million and $769 million, respectively.
Dividend & Share Repurchases
In the second quarter, the company plans to pay its quarterly base dividend of 57.5 cents per share on Sept. 3, 2026, to its shareholders of record on Aug. 13. Furthermore, Expand Energy expects to continue its returns-focused allocation of capital, including share repurchases, while preserving its balance sheet capacity.
Year-to-date through July 24, 2026, Expand Energy has redeemed approximately $1.3 billion of gross debt and executed $849 million of share repurchases.
Financial Position
Cash flow from operations totaled $1.1 billion, decreasing from the prior-year quarter levels of $1.3 billion, while Expand Energy’s cash capital expenditure totaled $753 million, leading to a free cash flow of $343 million. It also paid out $138 million in dividends during the period.
As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had long-term debt of $3.7 billion, reflecting a debt-to-capitalization ratio of 15.96%.
Guidance for Q3 & 2026
Expand Energy is targeting an average daily production in the range of 7,400-7,500 MMcfe for the third quarter of 2026 and 7,400-7,600 MMcfe for full-year 2026. The company has budgeted its capital spending between $700 million and $780 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 downward during the past month.
VGM Scores
Currently, Expand Energy has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of A on the value side, putting it in the top 20% 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 downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Expand Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.