Filing Flows › Cheniere Energy Partners, L.P. (CQP) › Q1 2026
Cheniere Energy Partners, L.P. (CQP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Cheniere Energy Partners, L.P. (CQP) reported revenue of $3.6B for the first quarter 2026 (Q1 2026), +20% from a year earlier and +24% from the quarter before. Operating margin was 10.0%, net earnings $186M (5.2% of revenue).
Cheniere Energy Partners, L.P., Q1 2026: revenue $3.6B (+20% year over year), operating margin 10.0%, net earnings $186M, operating cash flow $910M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.6B | +24% | +20% |
| Operating profit | $361M | -75% | -56% |
| Net earnings | $186M | -86% | -71% |
| Operating cash flow | $910M | +3% | +37% |
| Free cash flow | $879M | +2% | +45% |
What changed
Revenue was $3.6B in Q1 2026, up 20% year over year and up 24% from the previous quarter. LNG was the largest line at 99% of revenue. LNG added $0.61B year over year (up 21%), 100% of the total change.
Operating profit was $0.36B, a 10.0% margin (down 17.6 points year over year). Operating profit fell $0.47B even though revenue rose $0.61B versus Q1 2025, so costs grew faster than sales. Total costs grew 50% against revenue growth of 20%. The fastest-growing cost line was Cost of revenue (+62%). Net earnings were $0.19B, down 71% year over year. The effective tax rate was 0.0%.
Operating cash flow was $0.91B (up 37% year over year), 489% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization. Working capital and other items added $0.55B. Capital expenditures of $0.03B left free cash flow of $0.88B.
Questions
What was Cheniere Energy Partners, L.P.'s revenue in the first quarter 2026?
Cheniere Energy Partners, L.P.
Was Cheniere Energy Partners, L.P. profitable in the first quarter 2026?
Operating profit was $361M (10.0% of revenue) and net earnings $186M.