Cheniere Energy reported second-quarter 2026 revenue of $5.73 billion, up 24% from $4.64 billion a year earlier, and net income of $3.07 billion, up 89% from $1.63 billion. The company raised its full-year 2026 guidance, lifting its Consolidated Adjusted EBITDA range to $7.90 billion-$8.40 billion from $7.25 billion-$7.75 billion and its distributable cash flow range to $5.30 billion-$5.80 billion from $4.75 billion-$5.25 billion.
Second-quarter results
| 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% |
| Distributable cash flow | $1.17B | - | - |
| LNG cargoes exported | 184 | 154 | 19% |
| LNG volumes loaded | 672 TBtu | 550 TBtu | 22% |
For the first six months of 2026, revenue reached $11.60 billion, up 15% from $10.09 billion, while the company posted a net loss of $434 million against net income of $1.98 billion in the same period last year. Six-month Consolidated Adjusted EBITDA rose 26% to $4.14 billion, and distributable cash flow reached $2.84 billion. Cheniere said the six-month swing reflected $3.4 billion of unfavorable changes in the fair value of its derivative instruments, largely tied to its long-term Integrated Production Marketing agreements, partly offset by a nonrecurring excise tax credit and lower income tax provisions. For the twelve months ended June 30, 2026, net income totaled approximately $2.9 billion.
Production and guidance
Cheniere's LNG exports totaled 371 cargoes and 1,360 TBtu in the first six months of 2026, up 15% and 17% from a year earlier. The company tightened its full-year 2026 production forecast upward to 53-54 million tonnes, from a prior range of 52-54 million tonnes.
Capital allocation
Cheniere deployed $884 million in the second quarter and $2.1 billion over six months under its capital allocation plan. That included repurchasing 2.2 million shares for $550 million in the quarter and 4.9 million shares for $1.1 billion over six months, paying a $0.555 per share quarterly dividend totaling $116 million in the quarter and $233 million over six months, investing $1.1 billion in growth capital in the quarter and $2.1 billion over six months, of which $520 million was funded with equity, and repaying $253 million of long-term debt over the six-month period. In July 2026, Cheniere declared its second-quarter dividend of $0.555 per share, payable August 18, 2026.
Project milestones
Cheniere completed Midscale Train 6 of the CCL Stage 3 Project in June 2026, following the completions of Trains 1-4 in 2025 and Train 5 in March 2026. First LNG production from Train 7 is expected imminently. Also in June 2026, the Federal Energy Regulatory Commission authorized Cheniere to increase the 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, a Cheniere Energy Partners subsidiary, signed a lump-sum turnkey engineering, procurement and construction contract with Bechtel Energy for the first phase of the SPL Expansion Project and released Bechtel to begin early engineering and procurement work under a limited notice to proceed.
Balance sheet
Cheniere held $7.48 billion in total available liquidity as of June 30, 2026, including $1.10 billion in cash and equivalents, $420 million in restricted cash, and $5.96 billion in available credit facility commitments. In June 2026, the company extended its revolving credit facility maturity by one year and raised its commitments by $500 million to $1.75 billion, and amended its Corpus Christi Holdings working capital facility, renamed the CCH Revolving Credit Facility, extending its maturity by about four years, lowering rates, and reducing commitments by $500 million to $1.0 billion.
Jack Fusco, Cheniere's chairman, president and chief executive officer, said "the second quarter of 2026 marked another outstanding quarter for Cheniere." Fusco also cited continued progress toward a final investment decision on the first phase of the SPL Expansion Project.
