Filing Flows › Cheniere Energy (LNG) › Q1 2025
Cheniere Energy (LNG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Cheniere Energy (LNG) reported revenue of $5.4B for the first quarter 2025 (Q1 2025), +28% from a year earlier and +23% from the quarter before. Operating margin was 17.7%, net earnings $353M (6.5% of revenue).
Cheniere Energy, Q1 2025: revenue $5.4B (+28% year over year), operating margin 17.7%, net earnings $353M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.4B | +23% | +28% |
| Operating profit | $961M | -45% | -17% |
| Net earnings | $353M | -64% | -30% |
| Operating cash flow | $1.2B | -25% | -1% |
| Free cash flow | $605M | -44% | +2% |
What changed
Revenue was $5.4B in Q1 2025, up 28% year over year and up 23% from the previous quarter. LNG was the largest line at 95% of revenue. LNG added $1.2B year over year (up 29%), 99% of the total change. Other declined 5%.
Operating profit was $1.0B, a 17.7% margin (down 9.5 points year over year). Operating profit fell $0.19B even though revenue rose $1.2B versus a year earlier, so costs grew faster than sales. Total costs grew 45% against revenue growth of 28%. The fastest-growing cost line was Cost of revenue (+60%). Net earnings were $0.35B, down 30% year over year. The effective tax rate was 15.3%.
Operating cash flow was $1.2B (down 1% year over year), 184% of net income including minority interests. Non-cash charges added back $0.31B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items added $0.19B. Capital expenditures of $0.62B left free cash flow of $0.60B.
Questions
What was Cheniere Energy's revenue in the first quarter 2025?
Cheniere Energy (LNG) reported revenue of $5.4B for the first quarter 2025 (Q1 2025), +28% from a year earlier and +23% from the quarter before.
Was Cheniere Energy profitable in the first quarter 2025?
Operating profit was $961M (17.7% of revenue) and net earnings $353M.
Source: Cheniere Energy 10-Q on SEC EDGAR.