Filing Flows › Cheniere Energy Partners, L.P. (CQP) › Q2 2025
Cheniere Energy Partners, L.P. (CQP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Cheniere Energy Partners, L.P. (CQP) reported revenue of $2.5B for the second quarter 2025 (Q2 2025), +30% from a year earlier and -18% from the quarter before. Operating margin was 29.1%, net earnings $553M (22.5% of revenue).
Cheniere Energy Partners, L.P., Q2 2025: revenue $2.5B (+30% year over year), operating margin 29.1%, net earnings $553M, operating cash flow $558M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | -18% | +30% |
| Operating profit | $715M | -13% | -7% |
| Net earnings | $553M | -14% | -3% |
| Operating cash flow | $558M | -16% | -24% |
| Free cash flow | $490M | -19% | -30% |
What changed
Revenue was $2.5B in Q2 2025, up 30% year over year and down 18% from the previous quarter. LNG was the largest line at 98% of revenue. LNG added $0.56B year over year (up 30%), 100% of the total change.
Operating profit was $0.71B, a 29.1% margin (down 11.3 points year over year). Operating profit fell $0.05B even though revenue rose $0.56B versus a year earlier, so costs grew faster than sales. Total costs grew 54% against revenue growth of 30%. The fastest-growing cost line was Cost of revenue (+81%). Net earnings were $0.55B, down 3% year over year. The effective tax rate was 0.0%.
Operating cash flow was $0.56B (down 24% year over year), 101% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization. Working capital and other items used $0.17B. Capital expenditures of $0.07B left free cash flow of $0.49B.
Questions
What was Cheniere Energy Partners, L.P.'s revenue in the second quarter 2025?
Cheniere Energy Partners, L.P.
Was Cheniere Energy Partners, L.P. profitable in the second quarter 2025?
Operating profit was $715M (29.1% of revenue) and net earnings $553M.