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How Expand Energy (EXE) makes money

Expand Energy (EXE) made $3.3B of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Of every dollar of revenue, 19¢ was left as operating profit, 16¢ was left as net earnings.

Drawing the Sankey…

Expand Energy revenue by quarterExpand Energy revenue by quarter$2.2BQ1 2025$3.7BQ2 2025$3.0BQ3 2025$3.3BQ4 2025$4.4BQ1 2026$3.0BQ2 2026$3.3BQ3 2026
Expand Energy: where each dollar of revenue goesExpand Energy: where each dollar of revenue goesOperating profit19¢Income tax3¢Net earnings16¢Operating cash flow36¢Free cash flow10¢

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$3.3B100.0%
Operating profit$640M19.5%
Income tax$89.0M2.7%
Net earnings$519M15.8%
Operating cash flow$1.2B35.8%
Free cash flow$339M10.3%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$3.3B+11%
Q2 2026$3.0B-20%
Q1 2026$4.4B+100%
Q4 2025$3.3B+64%
Q3 2025$3.0B+358%
Q2 2025$3.7B+631%
Q1 2025$2.2B+103%

From Expand Energy's 10-Q filed Oct 27, 2026 (on EDGAR).

Questions

How does Expand Energy make money?

Expand Energy (EXE) made $3.3B of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Of every dollar of revenue, 19¢ was left as operating profit, 16¢ was left as net earnings.

What is Expand Energy's profit margin?

Net earnings were $519M, 15.8% of revenue, in the third quarter 2026; the operating margin was 19.5%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.