Filing Flows › Cheniere Energy (LNG) › Q2 2025
Cheniere Energy (LNG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Cheniere Energy (LNG) reported revenue of $4.6B for the second quarter 2025 (Q2 2025), +43% from a year earlier and -15% from the quarter before. Operating margin was 54.5%, net earnings $1.6B (35.0% of revenue).
Cheniere Energy, Q2 2025: revenue $4.6B (+43% year over year), operating margin 54.5%, net earnings $1.6B, operating cash flow $831M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | -15% | +43% |
| Operating profit | $2.5B | +163% | +59% |
| Net earnings | $1.6B | +361% | +85% |
| Operating cash flow | $831M | -32% | -26% |
What changed
Revenue was $4.6B in Q2 2025, up 43% year over year and down 15% from the previous quarter. LNG was the largest line at 95% of revenue. LNG added $1.4B year over year (up 45%), 99% of the total change. Other declined 22%.
Operating profit was $2.5B, a 54.5% margin (up 5.7 points year over year). Of the extra revenue versus a year earlier, 68% reached operating profit, above the 49% margin then. Total costs grew 27% against revenue growth of 43%. The fastest-growing cost line was Cost of revenue (+42%). Net earnings were $1.6B, up 85% year over year. The effective tax rate was 18.3%.
Operating cash flow was $0.83B (down 26% year over year), 44% of net income including minority interests. Non-cash charges added back $0.33B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $1.4B. Capital expenditures of $1.0B exceeded it, leaving free cash flow of −$0.19B.
Questions
What was Cheniere Energy's revenue in the second quarter 2025?
Cheniere Energy (LNG) reported revenue of $4.6B for the second quarter 2025 (Q2 2025), +43% from a year earlier and -15% from the quarter before.
Was Cheniere Energy profitable in the second quarter 2025?
Operating profit was $2.5B (54.5% of revenue) and net earnings $1.6B.
Source: Cheniere Energy 10-Q on SEC EDGAR.