Filing Flows › Expand Energy (EXE) › Q3 2025
Expand Energy (EXE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Expand Energy (EXE) reported revenue of $3.0B for the third quarter 2025 (Q3 2025), +358% from a year earlier and -20% from the quarter before. Operating margin was 24.4%, net earnings $547M (18.4% of revenue).
Expand Energy, Q3 2025: revenue $3.0B (+358% year over year), operating margin 24.4%, net earnings $547M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | -20% | +358% |
| Operating profit | $725M | -43% | — |
| Net earnings | $547M | -43% | — |
| Operating cash flow | $1.2B | -9% | +185% |
| Free cash flow | $426M | -36% | +244% |
What changed
Revenue was $3.0B in Q3 2025, up 358% year over year and down 20% from the previous quarter.
Operating profit was $0.72B, a 24.4% margin (up 48.4 points year over year). Total costs grew 179% against revenue growth of 358%. The fastest-growing cost line was Other operating costs (+187%). Net earnings were $0.55B. The effective tax rate was 20.3%.
Operating cash flow was $1.2B (up 185% year over year), 220% of net earnings. Non-cash charges added back $0.74B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.10B. Capital expenditures of $0.78B left free cash flow of $0.43B.
Questions
What was Expand Energy's revenue in the third quarter 2025?
Expand Energy (EXE) reported revenue of $3.0B for the third quarter 2025 (Q3 2025), +358% from a year earlier and -20% from the quarter before.
Was Expand Energy profitable in the third quarter 2025?
Operating profit was $725M (24.4% of revenue) and net earnings $547M.
Source: Expand Energy 10-Q on SEC EDGAR.