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 adjusted EBITDA and distributable cash flow. Net income for the quarter was $3.07 billion, an 89% increase from $1.63 billion in the same period of 2025.

For the six months ended June 30, 2026, revenue reached $11.60 billion, up 15% from $10.09 billion in the first half of 2025. Over that same span, the company posted a net loss of $434 million, compared with net income of $1.98 billion a year earlier. Consolidated adjusted EBITDA for the six months was $4.14 billion, up 26% from $3.29 billion, and distributable cash flow was $2.84 billion. For the twelve months ended June 30, 2026, net income was approximately $2.9 billion.

Guidance raised

Cheniere raised its full-year 2026 consolidated adjusted EBITDA guidance to a range of $7.90 billion to $8.40 billion, up from its previous range of $7.25 billion to $7.75 billion. It also raised full-year distributable cash flow guidance to $5.30 billion to $5.80 billion, up from $4.75 billion to $5.25 billion.

Chairman, President and CEO Jack Fusco called it "another outstanding quarter for Cheniere," pointing to the completion of Midscale Train 6 and progress toward a final investment decision on the first phase of the SPL Expansion Project. He said the company's results and outlook for the rest of the year had "enabled us to once again raise" its guidance ranges.

Volumes and production

Cheniere exported 184 LNG cargoes in the second quarter, up 19% from 154 a year earlier, totaling 672 TBtu of LNG volumes loaded, a 22% increase from 550 TBtu. For the six months, the company exported 371 cargoes, up 15% from 322, totaling 1,360 TBtu, up 17% from 1,159 TBtu. Cheniere tightened its full-year 2026 production forecast to a range of 53 million to 54 million tonnes, narrowed from an earlier range of 52 million to 54 million tonnes.

Growth projects

In June 2026, Cheniere achieved substantial completion of Midscale Train 6 of the CCL Stage 3 Project, following the substantial completions of Midscale Trains 1 through 4 in 2025 and Midscale Train 5 in March 2026. First LNG production from Midscale Train 7 is expected imminently. Also in June 2026, the Federal Energy Regulatory Commission authorized Cheniere to increase the LNG production capacity of the CCL Stage 3 Project and the CCL Midscale Trains 8 & 9 Project by about 5 million tonnes per annum 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, Inc. for the first phase of the SPL Expansion Project, and released Bechtel to begin early engineering and procurement under a limited notice to proceed.

Capital returns and balance sheet

Cheniere deployed about $884 million in the second quarter and $2.1 billion over the first half of 2026 under its capital allocation plan:

  • Repurchased 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
  • Paid quarterly dividends of $0.555 per share, totaling about $116 million in the quarter and $233 million over six months
  • Invested about $1.1 billion in growth capital during the quarter, with about $219 million funded through equity
  • Repaid about $253 million of long-term debt during the first half of the year

In July 2026, Cheniere declared a second-quarter dividend of $0.555 per share, payable August 18, 2026.

As of June 30, 2026, Cheniere had total available liquidity of $7.48 billion, including $1.1 billion in cash and cash equivalents and $5.96 billion in available commitments under its credit facilities. In June 2026, the company amended its revolving credit facility, extending its maturity by one year and increasing aggregate commitments by $500 million to $1.75 billion. It also amended and restated the CCH Working Capital Facility, renamed the CCH Revolving Credit Facility, extending its maturity by about four years, reducing applicable interest rates, and decreasing aggregate commitments by $500 million to $1.0 billion.