Filing Flows › Cheniere Energy Partners, L.P. (CQP) › Q1 2025
Cheniere Energy Partners, L.P. (CQP) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Cheniere Energy Partners, L.P. (CQP) reported revenue of $3.0B for the first quarter 2025 (Q1 2025), +30% from a year earlier and +22% from the quarter before. Operating margin was 27.6%, net earnings $641M (21.4% of revenue).
Cheniere Energy Partners, L.P., Q1 2025: revenue $3.0B (+30% year over year), operating margin 27.6%, net earnings $641M, operating cash flow $665M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | +22% | +30% |
| Operating profit | $826M | +2% | -6% |
| Net earnings | $641M | +3% | -6% |
| Operating cash flow | $665M | -24% | -0.6% |
| Free cash flow | $605M | -27% | -4% |
What changed
Revenue was $3.0B in Q1 2025, up 30% year over year and up 22% from the previous quarter. LNG was the largest line at 98% of revenue. LNG added $0.69B year over year (up 31%), 100% of the total change.
Operating profit was $0.83B, a 27.6% margin (down 10.5 points year over year). Operating profit fell $0.05B even though revenue rose $0.69B versus a year earlier, so costs grew faster than sales. Total costs grew 52% against revenue growth of 30%. The fastest-growing cost line was Cost of revenue (+76%). Net earnings were $0.64B, down 6% year over year. The effective tax rate was 0.0%.
Operating cash flow was $0.67B (down 1% year over year), 104% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization. Working capital and other items used $0.15B. Capital expenditures of $0.06B left free cash flow of $0.60B.
Questions
What was Cheniere Energy Partners, L.P.'s revenue in the first quarter 2025?
Cheniere Energy Partners, L.P.
Was Cheniere Energy Partners, L.P. profitable in the first quarter 2025?
Operating profit was $826M (27.6% of revenue) and net earnings $641M.