Cheniere Energy Partners (CQP) Q3 FY2026 earnings: revenue $2.6 billion, up 7.1% on the year

Cheniere Energy Partners, L.P. (CQP) reported revenue of $2.6 billion for Q3 FY2026, the quarter ended 30 September 2026, up 7.1% on the same quarter a year earlier. Net income was $639 million, up 26.3% on the year, and diluted earnings per share $1.01. The figures are the company's own, from the 10-Q it filed with the SEC on 29 October 2026.

Revenue$2.6 billionup 7.1%

Net income$639 millionup 26.3%

Diluted EPS$1.01

QuarterQ3 FY2026ended 30 September 2026

What management said

Guidance figures: 1 raised, 1 kept.

Revenue and net income rose: Third quarter revenues were $2,574 million, up 7% from $2,404 million, and net income was $639 million, up 26% from $506 million. Nine-month revenues rose 12% to $8,757 million.
Adjusted EBITDA rose 8% in quarter: Adjusted EBITDA was $954 million in the quarter against $885 million, up 8%. For nine months it was $3,112 million against $2,649 million, up 17%. Adjusted EBITDA is a non-GAAP measure.
Higher margins on delivered LNG: Net income rose about $133 million in the quarter, mainly from higher total margins on LNG delivered, driven by higher volumes recognized in income and higher margins per MMBtu.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Revenue	2,574	2,583	2,404	+7.1%
Cost of revenue	1,276	765	1,278	-0.2%
Gross profit	1,298	1,818	1,126	+15.3%
Gross margin	50.4%	70.4%	46.8%
Operating income	815	1,340	696	+17.1%
Operating margin	31.7%	51.9%	29.0%
Interest expense	182	183	189	-3.7%
Net income	639	1,161	506	+26.3%
Net margin	24.8%	44.9%	21.0%
Diluted EPS	$1.01	n/a	$0.80	+26.2%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Operating cash flow	941	699	658	+43.0%
Capital expenditure	229	266	48.0	+377.1%
Free cash flow	712	433	610	+16.7%
Free cash flow margin	27.7%	16.8%	25.4%
Cash from investing	-232	-266	-49.0	n/a
Cash from financing	-571	-268	-589	n/a
Depreciation and amortisation	174	174	173	+0.6%
Shares outstanding at period end	484m	484m	484m	+0.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Debt	14,395	14,444	14,761	-2.5%
Total liabilities and equity	17,839	17,679	16,834	+6.0%
Fixed assets	15,087	15,034	15,399	-2.0%
Cash and equivalents	569	443	121	+370.2%
Inventory	165	165	147	+12.2%
Other assets	2,018	2,037	1,167	+72.9%
Total assets	17,839	17,679	16,834	+6.0%

Questions

What was Cheniere Energy Partners' revenue in Q3 FY2026?

Cheniere Energy Partners (CQP) reported revenue of $2.6 billion for Q3 FY2026, the quarter ended 30 September 2026, up 7.1% on the same quarter a year earlier.

How much did Cheniere Energy Partners earn in Q3 FY2026?

Net income for Q3 FY2026 was $639 million, up 26.3% on the year, and diluted earnings per share $1.01.

When did Cheniere Energy Partners report Q3 FY2026 results?

Cheniere Energy Partners filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 29 October 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023	Q3 FY2023	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,258	3,328	4,181	4,976	4,721	2,917	1,933	2,128	2,686	2,295	1,894	2,055	2,460	2,989	2,455	2,404	2,910	3,600	2,583	2,574
Cost of revenue	2,112	2,562	3,202	4,843	1,442	330	604	684	1,125	968	661	773	1,172	1,703	1,196	1,278	968	2,762	765	1,276
Gross profit	1,146	766	979	133	3,279	2,587	1,329	1,444	1,561	1,327	1,233	1,282	1,288	1,286	1,259	1,126	1,942	838	1,818	1,298
Gross margin	35%	23%	23%	3%	69%	89%	69%	68%	58%	58%	65%	62%	52%	43%	51%	47%	67%	23%	70%	50%
R&D	n/a	n/a	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating income	719	362	555	-299	2,762	2,129	818	988	1,101	875	766	827	812	826	715	696	1,469	361	1,340	815
Operating margin	22%	11%	13%	-6%	59%	73%	42%	46%	41%	38%	40%	40%	33%	28%	29%	29%	50%	10%	52%	32%
Interest expense	195	203	216	222	229	208	207	205	203	202	202	199	197	190	188	189	186	181	183	182
Net income	507	159	342	-514	2,511	1,935	622	791	906	682	570	635	623	641	553	506	1,287	186	1,161	639
Net margin	16%	5%	8%	-10%	53%	66%	32%	37%	34%	30%	30%	31%	25%	21%	23%	21%	44%	5%	45%	25%
Diluted EPS	$0.94	-$0.11	n/a	n/a	$4.63	n/a	n/a	n/a	$1.42	n/a	n/a	n/a	$1.05	n/a	n/a	$0.80	$2.38	n/a	n/a	$1.01
Operating cash flow	624	800	786	856	1,707	847	691	655	916	669	732	691	876	665	558	658	887	910	699	941
Capital expenditure	153	87.0	152	117	95.0	89.0	60.0	21.0	50.0	36.0	30.0	39.0	49.0	60.0	68.0	48.0	23.0	31.0	266	229
Free cash flow	471	713	634	739	1,612	758	631	634	866	633	702	652	827	605	490	610	864	879	433	712
Shares outstanding	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m	484m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 29 October 2026: the filing.