Filing Flows › Excelerate Energy (EE) › Q3 2025
Excelerate Energy (EE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Excelerate Energy (EE) reported revenue of $391M for the third quarter 2025 (Q3 2025), +102% from a year earlier and +91% from the quarter before. Operating margin was 22.3%, net earnings $14.0M (3.6% of revenue).
Excelerate Energy, Q3 2025: revenue $391M (+102% year over year), operating margin 22.3%, net earnings $14.0M, operating cash flow $115M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $391M | +91% | +102% |
| Operating profit | $87.2M | +101% | +46% |
| Net earnings | $14.0M | +195% | +56% |
| Operating cash flow | $115M | +32% | +189% |
| Free cash flow | $62.9M | +17% | +122% |
What changed
Revenue was $391.0M in Q3 2025, up 102% year over year and up 91% from the previous quarter. LNG Gas and Power was the largest line at 63% of revenue. LNG Gas and Power added $201.9M year over year (up 466%), 102% of the total change. Terminal Services declined 3%.
Operating profit was $87.2M, a 22.3% margin (down 8.6 points year over year). Of the extra revenue versus a year earlier, 14% reached operating profit, below the 31% margin then. Total costs grew 127% against revenue growth of 102%. The fastest-growing cost line was Other operating costs (+155%). Net earnings were $14.0M, up 56% year over year. The effective tax rate was 12.6%.
Operating cash flow was $114.9M (up 189% year over year), 209% of net income including minority interests. Non-cash charges added back $31.8M of depreciation and amortization and $3.3M of share-based compensation. Working capital and other items added $24.8M. Capital expenditures of $52.0M left free cash flow of $62.9M.
Questions
What was Excelerate Energy's revenue in the third quarter 2025?
Excelerate Energy (EE) reported revenue of $391M for the third quarter 2025 (Q3 2025), +102% from a year earlier and +91% from the quarter before.
Was Excelerate Energy profitable in the third quarter 2025?
Operating profit was $87.2M (22.3% of revenue) and net earnings $14.0M.
Source: Excelerate Energy 10-Q on SEC EDGAR.