Filing Flows › Cheniere Energy Partners, L.P. (CQP) › Q3 2025
Cheniere Energy Partners, L.P. (CQP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Cheniere Energy Partners, L.P. (CQP) reported revenue of $2.4B for the third quarter 2025 (Q3 2025), +17% from a year earlier and -2% from the quarter before. Operating margin was 29.0%, net earnings $506M (21.0% of revenue).
Cheniere Energy Partners, L.P., Q3 2025: revenue $2.4B (+17% year over year), operating margin 29.0%, net earnings $506M, operating cash flow $658M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4B | -2% | +17% |
| Operating profit | $696M | -3% | -16% |
| Net earnings | $506M | -8% | -20% |
| Operating cash flow | $658M | +18% | -5% |
| Free cash flow | $610M | +24% | -6% |
What changed
Revenue was $2.4B in Q3 2025, up 17% year over year and down 2% from the previous quarter. LNG was the largest line at 98% of revenue. LNG added $0.35B year over year (up 17%), 100% of the total change. Other declined 6%.
Operating profit was $0.70B, a 29.0% margin (down 11.3 points year over year). Operating profit fell $0.13B even though revenue rose $0.35B versus a year earlier, so costs grew faster than sales. Total costs grew 39% against revenue growth of 17%. The fastest-growing cost line was Cost of revenue (+65%). Net earnings were $0.51B, down 20% year over year. The effective tax rate was 0.0%.
Operating cash flow was $0.66B (down 5% year over year), 130% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization. Capital expenditures of $0.05B left free cash flow of $0.61B.
Questions
What was Cheniere Energy Partners, L.P.'s revenue in the third quarter 2025?
Cheniere Energy Partners, L.P.
Was Cheniere Energy Partners, L.P. profitable in the third quarter 2025?
Operating profit was $696M (29.0% of revenue) and net earnings $506M.