Cheniere Energy reported second-quarter 2026 revenue of $5.73 billion, up 24% from $4.64 billion a year earlier, and raised its full-year 2026 guidance for both profitability measures. Net income for the quarter was $3.07 billion, up 89% from $1.63 billion in the second quarter of 2025.

Metric Q2 2026 Q2 2025 Change
Revenue $5.73B $4.64B +24%
Net income $3.07B $1.63B +89%
Consolidated Adjusted EBITDA $1.80B $1.42B +27%
LNG cargoes exported 184 154 +19%
LNG volumes (TBtu) 672 550 +22%

Guidance raised again

Cheniere now expects full-year 2026 Consolidated Adjusted EBITDA of $7.90 billion to $8.40 billion, up from a previous range of $7.25 billion to $7.75 billion. It also raised its full-year distributable cash flow guidance to $5.30 billion to $5.80 billion, from $4.75 billion to $5.25 billion. Chairman, President and CEO Jack Fusco said the increases reflect a "constructive outlook and enhanced visibility for the remainder of the year." Consolidated Adjusted EBITDA for the quarter rose $388 million from a year earlier on higher total margins on delivered LNG, driven mainly by higher volumes recognized in income.

For the first six months of 2026, Cheniere reported revenue of $11.60 billion, up 15% from $10.09 billion in the same period of 2025, and Consolidated Adjusted EBITDA of $4.14 billion, up 26%. The six-month period showed a net loss of $434 million, compared with net income of $1.98 billion in the first half of 2025. Cheniere attributed the swing mainly to changes in the fair value of derivative instruments tied to its long-term Integrated Production Marketing agreements, partly offset by higher margins on higher delivered volumes.

LNG volumes climb

Cheniere exported 184 LNG cargoes in the second quarter, up 19% from 154 a year earlier, carrying 672 trillion British thermal units, or TBtu, of gas, up 22%. Over the first six months of 2026, cargoes rose 15% to 371 and volumes rose 17% to 1,360 TBtu. Cheniere tightened its full-year 2026 production forecast upward to a range of 53 million to 54 million tonnes, from a previous range of 52 million to 54 million tonnes.

Capital returned and reinvested

Cheniere deployed about $884 million of capital during the quarter and $2.1 billion over six months under its capital allocation plan. That included buying back about 2.2 million shares for roughly $550 million in the quarter, and 4.9 million shares for about $1.1 billion over six months. Cheniere paid quarterly dividends totaling about $116 million in the quarter and $233 million over six months. In July 2026, the company declared a second-quarter dividend of $0.555 per share, payable August 18, 2026.

Cheniere also invested about $1.1 billion of growth capital in the quarter and $2.1 billion over six months, with $219 million and $520 million of those amounts funded through equity. The company repaid about $253 million of consolidated long-term debt in the first six months of 2026.

Growth projects advance

In June 2026, Cheniere reached substantial completion of the sixth train of the CCL Stage 3 Project. A train is a processing unit that cools natural gas into liquid form for export. That milestone follows the substantial completions of the first four trains of the project in 2025 and the fifth train in March 2026. First LNG production from the seventh train is expected imminently. Also in June 2026, the Federal Energy Regulatory Commission authorized Cheniere to increase the licensed production capacity of the CCL Stage 3 Project and the CCL Midscale Trains 8 and 9 Project by about 5 million tonnes per year combined.

In May 2026, Sabine Pass Liquefaction Stage V, LLC, a subsidiary of Cheniere Energy Partners, L.P., signed a lump-sum, turnkey engineering, procurement and construction contract with Bechtel Energy for the first phase of the SPL Expansion Project. Cheniere released Bechtel to begin early engineering and procurement work under a limited notice to proceed. Fusco said the quarter marked "another outstanding quarter for Cheniere," pointing to the Train 6 completion and progress toward a final investment decision on the SPL Expansion Project's first phase.

Balance sheet and liquidity

As of June 30, 2026, Cheniere held $1.099 billion of cash and cash equivalents and $420 million of restricted cash. It had $5.956 billion of available commitments across its credit facilities, for total available liquidity of $7.475 billion.

In June 2026, Cheniere amended its revolving credit facility to extend the maturity by one year and increase commitments by $500 million to $1.75 billion. It also amended and restated its CCH Working Capital Facility, renamed the CCH Revolving Credit Facility, extending the maturity by about four years and reducing the applicable interest rates and fees. That amendment decreased aggregate commitments by $500 million to $1.0 billion.

As of June 30, 2026, Cheniere held all of the general partner interest and a 48.6% limited partner interest in Cheniere Energy Partners, L.P.