Venture Global (VG) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 results with revenue of $4.6B, up 48% year-over-year, and net income of $1.35B, up 266% year-over-year, driven by higher LNG volumes and prices.

• Exported 127 LNG cargos in Q2, reaching the milestone of 1,000th LNG cargo since March 2022.

• Increased quarterly dividend by 122% to $0.04/share for Q3 2026.

• Strong operational reliability with a recordable incident rate of 0.10, well below industry average.

• Expanded total assets to $61.5B, up $15B from a year ago.

Financial highlights

• Q2 2026 revenue: $4.6B (+48% YoY); net income: $1.35B (+266% YoY); Adjusted EBITDA: $2.5B (+79% YoY); EBITDA margin: 54%.

• Income from operations: $2.2B (+111% YoY).

• Cash & restricted cash: $4.6B as of June 30, 2026; total assets: $61.5B.

• 127 cargos exported in Q2; 478 TBtu LNG volumes exported (+45% YoY).

Outlook and guidance

• 2026 EBITDA guidance raised to $8.7–$9.1B, up from $8.2–$8.5B, with 91% of cargos contracted and current market volatility considered.

• Expect to export 500–518 cargos in 2026; 91% of 2026 and 75% of 2027 cargos contracted as of August 11, 2026.

• Plaquemines Phase I COD expected in Q4 2026; CP2 expansion FID targeted for early 2027.

• Each $1/MMBtu change in liquefaction fees impacts 2026 EBITDA by $180–$210M.

• 2026 capex expected at $13B.