Cheniere Energy (LNG) Q3 FY2026 earnings: revenue $6.2 billion, up 39.0% on the year

Cheniere Energy, Inc. (LNG) reported revenue of $6.2 billion for Q3 FY2026, the quarter ended 30 September 2026, up 39.0% on the same quarter a year earlier. Net income was $1.2 billion, up 11.5% on the year, and diluted earnings per share $5.65. The figures are the company's own, from the 10-Q it filed with the SEC on 29 October 2026.

Revenue$6.2 billionup 39.0%

Net income$1.2 billionup 11.5%

Diluted EPS$5.65

QuarterQ3 FY2026ended 30 September 2026

What management said

Guidance figures: 4 raised, 1 kept.

Nine-month net income fell on derivatives: Nine-month net income attributable to Cheniere was $736 million, against $3,028 million, primarily from $3.6 billion of unfavorable derivative fair value changes.
Consolidated Adjusted EBITDA rose on margins: Consolidated Adjusted EBITDA was $1,900 million for the quarter, up 18%, and $6,037 million for nine months, up 23%, from higher total margins on LNG delivered.
Cargoes and volumes both up: Quarter cargoes exported were 188, up from 163, and volumes were 684 TBtu, up from 586 TBtu. Nine-month cargoes were 559 and volumes 2,044 TBtu.

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	6,173	5,732	4,441	+39.0%
Cost of revenue	3,207	439	1,750	+83.3%
Gross profit	2,966	5,293	2,691	+10.2%
Gross margin	48.0%	92.3%	60.6%
Selling, general and administrative	112	88.0	81.0	+38.3%
Operating income	1,915	4,290	1,817	+5.4%
Operating margin	31.0%	74.8%	40.9%
Interest expense	285	287	236	+20.8%
Pre-tax income	1,654	4,008	1,599	+3.4%
Income tax	168	366	303	-44.6%
Effective tax rate	10.2%	9.1%	18.9%
Net income	1,170	3,068	1,049	+11.5%
Net margin	19.0%	53.5%	23.6%
Diluted EPS	$5.65	$14.65	$4.75	+18.9%

$ 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	2,466	1,578	1,425	+73.1%
Capital expenditure	732	1,180	687	+6.6%
Free cash flow	1,734	398	738	+135.0%
Free cash flow margin	28.1%	6.9%	16.6%
Cash from investing	-758	-1,185	-688	n/a
Cash from financing	-1,174	-644	-1,357	n/a
Depreciation and amortisation	393	380	338	+16.3%
Share-based compensation	75.0	37.0	35.0	+114.3%
Buybacks	706	576	997	-29.2%
Dividends paid	114	116	109	+4.6%
Diluted shares, weighted	207m	210m	220m	-5.9%
Shares outstanding at period end	204m	207m	215m	-5.1%

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
Shareholders' equity	6,555	6,191	6,749	-2.9%
Non-controlling interest	5,415	5,299	4,594	+17.9%
Redeemable equity	0.0	0.0	118	n/a
Debt	24,138	24,257	22,745	+6.1%
Operating lease liabilities	1,822	1,951	2,091	-12.9%
Other liabilities	10,905	10,274	8,805	+23.9%
Total liabilities and equity	48,835	47,972	45,102	+8.3%
Fixed assets	37,469	37,154	35,345	+6.0%
Cash and equivalents	1,663	1,099	1,075	+54.7%
Receivables	1,389	1,228	799	+73.8%
Inventory	722	723	458	+57.6%
Other assets	7,592	7,768	7,425	+2.2%
Total assets	48,835	47,972	45,102	+8.3%

Questions

What was Cheniere Energy's revenue in Q3 FY2026?

Cheniere Energy (LNG) reported revenue of $6.2 billion for Q3 FY2026, the quarter ended 30 September 2026, up 39.0% on the same quarter a year earlier.

How much did Cheniere Energy earn in Q3 FY2026?

Net income for Q3 FY2026 was $1.2 billion, up 11.5% on the year, and diluted earnings per share $5.65.

When did Cheniere Energy report Q3 FY2026 results?

Cheniere Energy 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	6,557	7,484	8,007	8,852	9,085	7,310	4,102	4,159	4,823	4,253	3,251	3,763	4,436	5,444	4,641	4,441	5,450	5,868	5,732	6,173
Cost of revenue	5,365	7,336	5,752	11,073	1,471	n/a	912	556	1,427	2,236	784	1,255	1,746	3,571	1,117	1,750	712	8,318	439	3,207
Gross profit	1,192	148	2,255	-2,221	7,614	n/a	3,190	3,603	3,396	2,017	2,467	2,508	2,690	1,873	3,524	2,691	4,738	-2,450	5,293	2,966
Gross margin	18%	2%	28%	-25%	84%	n/a	78%	87%	70%	47%	76%	67%	61%	34%	76%	61%	87%	-42%	92%	48%
R&D	2.0	5.0	3.0	4.0	4.0	10.0	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
SG&A	101	96.0	77.0	92.0	151	107	87.0	102	178	101	99.0	99.0	142	116	99.0	81.0	87.0	136	88.0	112
Operating income	439	-613	1,477	-3,016	6,711	7,991	2,308	2,755	2,435	1,154	1,588	1,647	1,739	961	2,530	1,817	3,804	-3,488	4,290	1,915
Operating margin	7%	-8%	18%	-34%	74%	109%	56%	66%	50%	27%	49%	44%	39%	18%	55%	41%	70%	-59%	75%	31%
Interest expense	350	349	357	354	346	297	291	283	270	266	257	247	240	229	237	236	246	255	287	285
Pre-tax income	62.0	-972	1,094	-3,396	6,368	7,751	2,070	2,531	2,226	948	1,372	1,438	1,545	789	2,323	1,599	3,571	-3,753	4,008	1,654
Tax rate	1856%	n/a	17%	n/a	19%	17%	18%	17%	18%	11%	15%	16%	17%	15%	18%	19%	18%	n/a	9%	10%
Net income	-1,323	-865	741	-2,385	3,937	5,434	1,369	1,701	1,377	502	880	893	977	353	1,626	1,049	2,302	-3,502	3,068	1,170
Net margin	-20%	-12%	9%	-27%	43%	74%	33%	41%	29%	12%	27%	24%	22%	6%	35%	24%	42%	-60%	54%	19%
Diluted EPS	-$5.22	-$3.41	$2.90	-$9.54	$15.78	$22.10	$5.61	$7.03	$5.76	$2.13	$3.84	$3.93	$4.33	$1.57	$7.30	$4.75	$10.68	-$16.65	$14.65	$5.65
Operating cash flow	412	2,655	2,517	2,399	2,952	3,421	1,579	1,698	1,720	1,246	1,116	1,391	1,641	1,228	831	1,425	2,055	1,080	1,578	2,466
Capital expenditure	205	178	845	316	491	712	332	386	691	650	503	516	569	623	1,024	687	744	736	1,180	732
Free cash flow	207	2,477	1,672	2,083	2,461	2,709	1,247	1,312	1,029	596	613	875	1,072	605	-193	738	1,311	344	398	1,734
Buybacks	3.0	25.0	540	75.0	733	450	324	358	341	1,189	510	282	281	363	327	997	1,037	537	576	706
Dividends paid	85.0	86.0	84.0	81.0	98.0	99.0	96.0	96.0	102	105	97.0	98.0	112	112	111	109	119	117	116	114
Shares outstanding	254m	254m	250m	250m	244m	243m	241m	238m	235m	229m	226m	224m	224m	222m	220m	215m	210m	210m	207m	204m
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. 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.