Cheniere Reports Third Quarter 2026 Results, Raises Full Year 2026 Financial Guidance, and Increases Quarterly Dividend by Over 12%

HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE: LNG) today announced its financial results for the third quarter 2026. THIRD QUARTER 2026 SUMMARY FINANCIAL RESULTS (in billions) Three Months Ended September 30, 2026 Nine Months Ended September 30, 2026 Revenues $6.17 $17.77 Net Income1,2 $1.17 $0.74 Consolidated Adjusted EBITDA3 $1.90 $6.04 Distributable Cash Flow3 $1.23 $4.07 2026 FULL YEAR FINANCIAL GUIDANCE (in billions) 2026 Previous 2026 Revised Consolidated Adjusted EBITDA3 $7.90 - $8.40 $8.75 - $9.25 Distributable Cash Flow3 $5.30 - $5.80 $6.05 - $6.55 RECENT HIGHLIGHTS Financial During the three and nine months ended September 30, 2026, Cheniere generated revenues of approximately $6.2 billion and $17.8 billion, Consolidated Adjusted EBITDA3 of approximately $1.9 billion and $6.0 billion, Distributable Cash Flow3 of approximately $1.2 billion and $4.1 billion, and net income1,2 of approximately $1.2 billion and $736 million, respectively. Raising full year 2026 Consolidated Adjusted EBITDA3 guidance from $7.90 billion - $8.40 billion to $8.75 billion - $9.25 billion and full year 2026 Distributable Cash Flow3 guidance from $5.30 billion - $5.80 billion to $6.05 billion - $6.55 billion. Capital Allocation For the third quarter 2026, Cheniere’s Board of Directors has declared a quarterly cash dividend of $0.625 per common share, an increase of over 12% from the prior quarter, payable on November 17, 2026 to shareholders of record as of the close of business on November 9, 2026. During the three and nine months ended September 30, 2026, Cheniere deployed approximately $1.5 billion and $3.6 billion, respectively, under its comprehensive capital allocation plan by: Repurchasing an aggregate of approximately 2.8 million and 7.7 million shares of common stock for approximately $731 million and $1.8 billion, respectively, Paying quarterly dividends of $0.555 and $1.665 per share of common stock, totaling approximately $114 million and $347 million, respectively, Investing approximately $740 million and $2.8 billion of growth capital with approximately $626 million and $1.1 billion funded with equity cash flows, respectively, and Repaying approximately $54 million and $307 million of consolidated long-term indebtedness, respectively. In October 2026, S&P Global Ratings upgraded its issuer credit rating of Cheniere Corpus Christi Holdings, LLC (“CCH”) from BBB+ to A- with a stable outlook. Commercial In October 2026, Sabine Pass Liquefaction, LLC (“SPL”) and Corpus Christi Liquefaction, LLC (CCL) entered into long-term LNG sale and purchase agreements (“SPA”) with QatarEnergy to supply in aggregate up to 4 million tonnes per annum (“mtpa”) of liquefied natural gas (“LNG”) on a free-on-board (“FOB”) basis beginning in the early 2030s through 2054, with 1 mtpa subject to, among other things, a positive Final Investment Decision (“FID”) with respect to the first phase of the SPL Expansion Project (defined below). In September 2026, Cheniere Marketing, LLC (“Cheniere Marketing”) entered into a long-term LNG SPA with Petrobras to supply 0.8 mtpa of LNG on a FOB basis for 22 years. Growth / Operations In September 2026, the Federal Energy Regulatory Commission (“FERC”) issued the final environmental impact statement (“EIS”) relating to the SPL Expansion Project. In September 2026, the FERC issued a draft EIS relating to the CCL Expansion Project (defined below). In September 2026, Cheniere and its subsidiaries obtained commitments for a term loan to finance the construction costs of the first phase of the SPL Expansion Project that are not expected to be funded with available cash. The term loan is being sized to finance approximately 50% of the total estimated project costs of the first phase. Closing and funding are subject to customary conditions, including the issuance of a positive FID with respect to the first phase of the SPL Expansion Project. In August 2026, Cheniere produced and exported its 5,000th cargo of LNG from its U.S. Gulf Coast operations, achieving this milestone faster than any other LNG producer worldwide. In August 2026, substantial completion of the seventh train (“Midscale Train 7”) of the CCL Stage 3 Project (defined below) was achieved, marking the project complete ahead of the guaranteed completion schedule and within budget, and expanding Cheniere’s LNG production capacity by over 20%. CEO COMMENT “We achieved key milestones across the Cheniere platform in the third quarter of 2026, highlighted by the substantial completion of the seventh and final train of the CCL Stage 3 Project, the export of our 5,000th LNG cargo, and our continued commercial success in support of future brownfield growth at Sabine Pass and Corpus Christi,” said Jack Fusco, Cheniere’s Chairman, President and Chief Executive Officer. “Our outstanding results and improved outlook enable us to further raise our guidance ranges for 2026, and the successful completion of CCL Stage 3 and our continued debottlenecking efforts provide increased visibility into our initial production forecast for 2027. Across our business, we continue to reinforce our track record for operational excellence and safety, executing on our long-term capital allocation plan, and accretively growing our leading infrastructure platform to reliably meet the energy needs of our customers worldwide for decades to come.” SUMMARY AND REVIEW OF FINANCIAL RESULTS (in millions, except LNG data) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 % Change 2026 2025 % Change Revenues $ 6,173 $ 4,441 39 % $ 17,773 $ 14,526 22 % Net income1,2 $ 1,170 $ 1,049 12 % $ 736 $ 3,028 N/M Consolidated Adjusted EBITDA3 $ 1,900 $ 1,608 18 % $ 6,037 $ 4,896 23 % LNG exported: Number of cargoes 188 163 15 % 559 485 15 % Volumes (TBtu) 684 586 17 % 2,044 1,745 17 % LNG volumes loaded (TBtu) 685 586 17 % 2,045 1,744 17 % Net income1,2 was approximately $1.2 billion and $736 million for the three and nine months ended September 30, 2026, respectively, as compared to net income1,2 of approximately $1.0 billion and $3.0 billion for the corresponding 2025 periods. The increase for the three months ended September 30, 2026 is due to higher total margins on LNG delivered, driven by higher volumes recognized in income as well higher margins per MMBtu of LNG delivered during the period, as well as lower provisions for income tax relative to the 2025 period. The decrease for the nine months ended September 30, 2026 is primarily due to $3.6 billion of unfavorable variances related to the changes in the fair value of our derivative instruments, predominantly related to our long-term Integrated Production Marketing (“IPM”) agreements (before tax and non-controlling interests), and partially offset primarily by higher volumes recognized in income and to a lesser extent higher margins per MMBtu of LNG delivered during the period, as well as the recognition of a nonrecurring excise tax credit during the 2026 period. Share-based compensation expenses included in net income totaled $75 million and $190 million for the three and nine months ended September 30, 2026, respectively, compared to $35 million and $140 million for the corresponding 2025 periods. Consolidated Adjusted EBITDA3 increased approximately $292 million and $1.1 billion for the three and nine months ended September 30, 2026, respectively, as compared to the corresponding 2025 periods, due to higher total margins on LNG delivered, driven by higher volumes recognized in income as well higher margins per MMBtu of LNG delivered during the period. Our financial results are reported on a consolidated basis. Our ownership interest in Cheniere Partners, L.P. (“Cheniere Partners”) (NYSE: CQP) as of September 30, 2026 consisted of 100% ownership of the general partner interest and a 48.6% limited partner interest. BALANCE SHEET MANAGEMENT Capital Resources The table below provides a summary of our available liquidity (in millions) as of September 30, 2026: September 30, 2026 Cash and cash equivalents(1) $ 1,663 Restricted cash and cash equivalents(2) 393 Available commitments under our credit facilities: SPL Revolving Credit Facility 873 Cheniere Partners Revolving Credit Facility 1,000 CCH Credit Facility 1,510 CCH Revolving Credit Facility 890 Cheniere Revolving Credit Facility 1,750 Total available commitments under our credit facilities 6,023 Total available liquidity $ 8,079 (1) $569 million of cash and cash equivalents was held by Cheniere Partners. (2) $35 million of restricted cash and cash equivalents was held by Cheniere Partners. Recent Key Financial Transactions and Updates In September 2026, SPL repaid approximately $54 million aggregate principal amount outstanding of its Senior Secured Notes due 2037 with weighted average rate of 4.748% as of June 30, 2026 (the “2037 SPL Senior Notes”) based on the fixed amortization schedules. In September 2026, Cheniere and its subsidiaries obtained commitments for a term loan to finance the construction costs of the first phase of the SPL Expansion Project that are not expected to be funded with available cash. Closing and funding are subject to customary conditions, including the issuance of a positive FID with respect to the first phase of the SPL Expansion Project. Additionally, we have secured commitments to amend and extend the maturities of the SPL Revolving Credit Facility and the Cheniere Partners Revolving Credit Facility, including the reallocation of $250 million in commitments from the SPL Revolving Credit Facility to the Cheniere Partners Revolving Credit Facility. LIQUEFACTION PROJECTS OVERVIEW In aggregate across the Sabine Pass LNG terminal and the Corpus Christi LNG terminal, we have approximately 56 mtpa of liquefaction capacity in operation, approximately 5 mtpa under construction, and over 40 mtpa in the regulatory permitting process. SPL Project Through Cheniere Partners, we operate liquefaction and export facilities with a total production capacity of over 30 mtpa of LNG at the Sabine Pass LNG terminal in Cameron Parish, Louisiana (the “SPL Project”), inclusive of six liquefaction trains. SPL Expansion Project Through Cheniere Partners, we are developing an expansion adjacent to the SPL Project with an expected total peak production capacity of up to approximately 20 mtpa of LNG (the “SPL Expansion Project”), inclusive of estimated debottlenecking opportunities. We expect to execute the SPL Expansion Project in a phased approach, maximizing brownfield economics, and a positive FID is subject to, among other things, receipt of necessary regulatory approvals and acceptable commercial and financing arrangements. The first phase includes a single train, Train 7, and a boil-off gas re-liquefaction unit, along with supporting infrastructure and tie-ins to the existing Sabine Pass LNG terminal, and has an expected total production capacity of over 6 mtpa of LNG, inclusive of estimated debottlenecking opportunities. In May 2026, the lump sum, turnkey engineering, procurement and construction (EPC) contract with Bechtel Energy, Inc. (“Bechtel”) for the first phase of the SPL Expansion Project was signed, and Bechtel was released to commence early engineering and procurement under a limited notice to proceed (LNTP). The FERC application for authorization to site, construct and operate the SPL Expansion Project, as well as the Department of Energy (“DOE”) application authorizing the export of LNG to non-free trade agreement (“FTA”) countries, remain pending. In September 2026, the FERC issued the final EIS relating to the SPL Expansion Project. CCL Project We operate liquefaction and export facilities with a total production capacity of over 25 mtpa of LNG at the Corpus Christi LNG terminal near Corpus Christi, Texas (the “CCL Project”), inclusive of three liquefaction trains with over 15 mtpa of total liquefaction capacity, and seven midscale trains (the “CCL Stage 3 Project”), which has a total liquefaction capacity of over 10 mtpa. Midscale Train 7 of the CCL Stage 3 Project reached substantial completion in August 2026, marking the CCL Stage 3 Project complete. CCL Midscale Trains 8 & 9 Project We are constructing an expansion adjacent to the CCL Stage 3 Project consisting of two additional midscale trains with an expected total production capacity of approximately 5 mtpa of LNG (the “CCL Midscale Trains 8 & 9 Project”), inclusive of estimated debottlenecking opportunities. CCL Midscale Trains 8 & 9 Project Progress as of September 30, 2026: CCL Midscale Trains 8 & 9 Project Project Status Under Construction Project Completion Percentage 58.6%(1) Expected Substantial Completion 2H 2028 (1) Engineering 95.2% complete, procurement 84.9% complete, subcontract work 57.9% complete and construction 14.5% complete. CCL Expansion Project We are developing an expansion adjacent to the CCL Project with an expected total peak production capacity of up to approximately 24 mtpa of LNG, inclusive of estimated debottlenecking opportunities (the “CCL Expansion Project”). We expect to execute the CCL Expansion Project in a phased approach, maximizing brownfield economics, and a positive FID is subject to, among other things, receipt of necessary regulatory approvals and acceptable commercial and financing arrangements. The FERC application for authorization to site, construct and operate the CCL Expansion Project, as well as the DOE application authorizing the export of LNG to non-FTA countries, remain pending. INVESTOR CONFERENCE CALL AND WEBCAST We will host a conference call to discuss our financial and operating results for the third quarter 2026 on Thursday, October 29, 2026, at 11 a.m. Eastern time / 10 a.m. Central time. A listen-only webcast of the call and an accompanying slide presentation may be accessed through our website at www.cheniere.com. Following the call, an archived recording will be made available on our website. ______________________ 1 Net income as used herein refers to Net income attributable to Cheniere Energy, Inc. on our Consolidated Statements of Operations. 2 See “Reconciliation of Non-GAAP Measures” for Adjusted Net Income, a non-GAAP financial measure, which excludes non-cash changes in fair value of our derivative instruments and related adjustments to income tax (benefit) and non-controlling interest. 3 Non-GAAP financial measure. See “Reconciliation of Non-GAAP Measures” for further details. About Cheniere Cheniere Energy, Inc. is the leading producer and exporter of LNG in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with a total combined production capacity of approximately 56 mtpa of LNG in operation and an additional approximately 5 mtpa of expected production capacity under construction or in commissioning, inclusive of estimated debottlenecking opportunities. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, Dubai and Washington, D.C. For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, filed with the Securities and Exchange Commission. Use of Non-GAAP Financial Measures In addition to disclosing financial results in accordance with U.S. GAAP, the accompanying news release contains non-GAAP financial measures. Consolidated Adjusted EBITDA and Distributable Cash Flow are non-GAAP financial measures that we use to facilitate comparisons of operating performance across periods. These non-GAAP measures should be viewed as a supplement to and not a substitute for our U.S. GAAP measures of performance and the financial results calculated in accordance with U.S. GAAP and reconciliations from these results should be carefully evaluated. Non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or in lieu of an analysis of our results as reported under GAAP and should be evaluated only on a supplementary basis. Forward-Looking StatementsRead the full story here

Cheniere Reports Third Quarter 2026 Results, Raises Full Year 2026 Financial Guidance, and Increases Quarterly Dividend by Over 12%

Inne wiadomości firmowe