Cheniere Energy raises full-year guidance on record export volumes
The company increased its 2026 consolidated adjusted EBITDA forecast to a range of $7.25 billion to $7.75 billion
Cheniere Energy (LNG), the liquefied natural gas exporter, reported first-quarter revenues of $5.87 billion, an 8% increase over the $5.44 billion recorded in the same period last year.
The company raised its full-year 2026 consolidated adjusted EBITDA guidance to a range of $7.25 billion to $7.75 billion, up from a previous range of $6.75 billion to $7.25 billion. Distributable cash flow guidance for the year was also increased to between $4.75 billion and $5.25 billion from a prior range of $4.35 billion to $4.85 billion.
Consolidated adjusted EBITDA for the first quarter rose 25% to $2.33 billion, compared with $1.87 billion in the prior-year quarter. This growth followed a record quarterly export volume of 187 cargoes, an 11% increase over the 168 cargoes exported in the first quarter of 2025. Total LNG volumes loaded rose 13% to 688 TBtu from 608 TBtu in the previous year.
Operational capacity expanded as the company achieved substantial completion of Train 5 of the CCL Stage 3 Project in March 2026. This followed the completion of Trains 1-4 in 2025. Total combined production capacity in operation reached approximately 55 mtpa as of July 2026, up from over 53 mtpa in the first quarter and approximately 52 mtpa in the fourth quarter of 2025.
Despite the growth in operating metrics, net income swung to a net loss of $3.5 billion in the first quarter, compared to a profit of $353 million in the first quarter of 2025. The loss was primarily due to $4.8 billion in unfavorable variances from the fair value of derivative instruments.
Cheniere appointed Britt Vitalone to its Board of Directors effective July 14, 2026.