Filing Flows › Expand Energy (EXE) › Q2 2025
Expand Energy (EXE) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 29, 2025
Expand Energy (EXE) reported revenue of $3.7B for the second quarter 2025 (Q2 2025), +631% from a year earlier and +68% from the quarter before. Operating margin was 34.4%, net earnings $968M (26.2% of revenue).
Expand Energy, Q2 2025: revenue $3.7B (+631% year over year), operating margin 34.4%, net earnings $968M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | +68% | +631% |
| Operating profit | $1.3B | — | — |
| Net earnings | $968M | — | — |
| Operating cash flow | $1.3B | +21% | +533% |
| Free cash flow | $665M | +25% | — |
What changed
Revenue was $3.7B in Q2 2025, up 631% year over year and up 68% from the previous quarter. Natural gas, oil and NGL was the largest line at 55% of revenue. Natural gas, oil and NGL added $1.6B year over year (up 435%), 52% of the total change.
Operating profit was $1.3B, a 34.4% margin (up 92.6 points year over year). Total costs grew 203% against revenue growth of 631%. The fastest-growing cost line was Other operating costs (+217%). Net earnings were $1.0B. The effective tax rate was 21.2%.
Operating cash flow was $1.3B (up 533% year over year), 137% of net earnings. Non-cash charges added back $0.77B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.43B. Capital expenditures of $0.66B left free cash flow of $0.67B.
Questions
What was Expand Energy's revenue in the second quarter 2025?
Expand Energy (EXE) reported revenue of $3.7B for the second quarter 2025 (Q2 2025), +631% from a year earlier and +68% from the quarter before.
Was Expand Energy profitable in the second quarter 2025?
Operating profit was $1.3B (34.4% of revenue) and net earnings $968M.
Source: Expand Energy 10-Q on SEC EDGAR.