Cheniere Energy

Cheniere Energy (Cheniere) produces liquefied natural gas (LNG) on the U.S. Gulf Coast and sells it around the world, mostly under long-term contracts. It operates two terminals on the U.S. Gulf Coast: Sabine Pass in Louisiana, with more than 30 million tonnes per annum (mtpa) of capacity through Cheniere Energy Partners, and Corpus Christi in Texas, with more than 25 mtpa.

In total, about 56 mtpa is in operation and about 5 mtpa is under construction. Cheniere owns the general partner and 48.6% of the limited partner interest of Cheniere Energy Partners. In the first nine months of 2026, it exported 559 cargoes. Its shares trade on the New York Stock Exchange.

The head office is in Houston. Jack Fusco is Chairman, President and Chief Executive Officer.

Cheniere trades above its intrinsic value because investors pay for its long-term contracts, its growing cash flow per share and its expansion plans, although new LNG projects around the world can cause a global surplus. About 95% of the expected production of its terminals is contracted through the mid-2030s, with a weighted average remaining life of about 15 years. In 2026, Cheniere raised its outlook three times, to Consolidated Adjusted EBITDA of $8.75 to $9.25 billion, and it completed Corpus Christi Stage 3.

For the shares to earn this price, three things must be true. Cheniere must take a positive final investment decision on the first phase of the Sabine Pass Expansion and build it on budget. The new contracts, such as those with QatarEnergy and Petrobras in 2026, must fill the new capacity.

Buybacks must continue toward the target of about $30 of Distributable Cash Flow per share. The Q4 2026 report and the 2027 guidance, expected in early 2027, and the investment decision on the Sabine Pass Expansion are the next tests. Lower LNG prices or delays to the expansions can make the premium hard to keep.

1. Oct 29, 2026Passed

   Q3 2026 results and the 2026 guidanceHigher Consolidated Adjusted EBITDA and a kept or higher guidance pass; a lower guidance fails.Outcome: Consolidated Adjusted EBITDA rose 18% to $1,900 million, and Cheniere raised its 2026 guidance to $8.75 to $9.25 billion.
2. Jan 29, 2027 · est.Pending

   Q4 2026 results and the 2027 guidance2026 Consolidated Adjusted EBITDA within $8.75 to $9.25 billion and 2027 guidance for stable or higher EBITDA pass; lower guidance fails.
3. 2027 · est.Pending

   Final investment decision on the Sabine Pass ExpansionA positive final investment decision on the first phase with the planned term loan passes; a delay past 2027 fails.

Every passed and failed checkpoint across all picks

• November 3, 2026Cheniere priced $1.2 billion of 5.800% senior notes due 2037 at 99.313% of par. It can use the proceeds to repay debt, including the 5.125% senior secured notes of Corpus Christi Holdings due 2027.
• October 29, 2026Cheniere reported Q3 2026 results. Revenues rose 39% to $6,173 million, net income was $1,170 million, or $5.65 per diluted share, and Consolidated Adjusted EBITDA rose 18% to $1,900 million. It exported 188 cargoes. Cheniere raised its 2026 guidance to Consolidated Adjusted EBITDA of $8.75 to $9.25 billion and Distributable Cash Flow of $6.05 to $6.55 billion, and it increased the quarterly dividend by over 12% to $0.625 per share. In October 2026, its subsidiaries signed long-term contracts with QatarEnergy for up to 4 mtpa of LNG from the early 2030s through 2054. In August 2026, the seventh and last midscale train of Corpus Christi Stage 3 was complete, ahead of the guaranteed schedule and within budget.
• August 6, 2026Cheniere reported Q2 2026 results. Net income was $3.07 billion, and Consolidated Adjusted EBITDA was $1.80 billion. It raised its 2026 guidance to Consolidated Adjusted EBITDA of $7.90 to $8.40 billion.

Last earnings

October 29, 2026 (8-K on sec.gov)

Next earnings

Expected about January 29, 2027. The company has not confirmed the date.

• 8-KNew material agreement and Investor disclosureFiled November 3, 2026 · Read it on sec.gov
• 8-KEarnings release and Investor disclosureFiled October 29, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 29, 2026 · lng-20260930
• 8-KEarnings releaseFiled August 6, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Jun 30, 2026Filed August 6, 2026 · lng-20260630
• 8-KInvestor disclosureFiled July 28, 2026 · lng-20260728
• 8-KChange of directors or officers and Investor disclosureFiled July 14, 2026 · lng-20260714
• 8-KNew material agreement and New debt or financial obligationFiled July 2, 2026 · Read it on sec.gov
• 8-KNew material agreementFiled June 9, 2026 · Read it on sec.gov
• 8-KNew material agreement and Investor disclosureFiled May 27, 2026 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 3570)

• Other LNG producers are building new capacity. A global surplus can lower the prices of the uncontracted volumes that Cheniere Marketing sells and make new long-term contracts harder to sign.
• The Sabine Pass Expansion and the Corpus Christi Midscale Trains 8 and 9 need large investments. Delays, higher construction costs or missing permits can lower the return on these projects.
• Net income moves with non-cash changes in the fair value of derivatives, mainly the long-term Integrated Production Marketing agreements. In the first nine months of 2026, these changes reduced net income by about $3.6 billion before tax and non-controlling interests.
• LNG exports need permits from the Department of Energy and the Federal Energy Regulatory Commission. A change in U.S. export policy or trade disputes can delay new projects.
• The terminals are on the Gulf Coast, where hurricanes can stop production and damage facilities.

Cheniere funds itself with long-term debt at the parent and at its project subsidiaries, and with cash flow. At September 30, 2026, cash and cash equivalents were $1,663 million, of which $569 million was held by Cheniere Energy Partners, and restricted cash was $393 million. Read more

Dividend yield

0.8% (last 12 months, at today’s price of $293.49)

Paid per share

$2.29 in the last 12 months (4 payments)

Current annual rate

$2.50 ($0.625 × 4 a year)

Payout ratio

9% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

November 9, 2026, $0.625 per share

Dividends per share by year

Source: company filings and market data, read on November 11, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.