Filing Flows › Expand Energy (EXE) › Q1 2026
Expand Energy (EXE) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 28, 2026
Expand Energy (EXE) reported revenue of $4.4B for the first quarter 2026 (Q1 2026), +100% from a year earlier and +34% from the quarter before. Operating margin was 34.8%, net earnings $1.2B (26.4% of revenue).
Expand Energy, Q1 2026: revenue $4.4B (+100% year over year), operating margin 34.8%, net earnings $1.2B, operating cash flow $2.4B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.4B | +34% | +100% |
| Operating profit | $1.5B | +106% | — |
| Net earnings | $1.2B | +110% | — |
| Operating cash flow | $2.4B | +151% | +119% |
| Free cash flow | $1.7B | +688% | +218% |
What changed
Revenue was $4.4B in Q1 2026, up 100% year over year and up 34% from the previous quarter. Natural Gas was the largest line at 70% of revenue. Natural Gas added $1.0B year over year (up 52%), 48% of the total change. NGL declined 20%.
Operating profit was $1.5B, a 34.8% margin (up 47.0 points year over year). Total costs grew 16% against revenue growth of 100%. The fastest-growing cost line was General & admin (+34%). Net earnings were $1.2B. The effective tax rate was 22.2%.
Operating cash flow was $2.4B (up 119% year over year), 207% of net earnings. Non-cash charges added back $0.71B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.52B. Capital expenditures of $0.71B left free cash flow of $1.7B.
Questions
What was Expand Energy's revenue in the first quarter 2026?
Expand Energy (EXE) reported revenue of $4.4B for the first quarter 2026 (Q1 2026), +100% from a year earlier and +34% from the quarter before.
Was Expand Energy profitable in the first quarter 2026?
Operating profit was $1.5B (34.8% of revenue) and net earnings $1.2B.
Source: Expand Energy 10-Q on SEC EDGAR.