Filing Flows › Cheniere Energy (LNG) › Q2 2026 › vs Q1 2026
Cheniere Energy (LNG) Q2 2026 vs Q1 2026 (quarter over quarter)
Cheniere Energy's revenue fell $136M (-2%) from $5.9B in Q1 2026 to $5.7B in Q2 2026. The biggest changes: LNG −$904M (-14%); Other revenues +$774M (—); Other −$6.0M (-12%). Operating margin 74.8% against -59.4% (+134.3 pts).
Cheniere Energy, Q2 2026: revenue $5.7B (+24% year over year), operating margin 74.8%, net earnings $3.1B, operating cash flow $1.6B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 74.8% | -59.4% | +134.3 pts |
| Net margin | 53.5% | -59.7% | +113.2 pts |
| Free cash flow margin | 6.9% | 5.9% | +1.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| LNG | $5.6B | $6.5B | −$904M | -14% |
| Other | $43.0M | $49.0M | −$6.0M | -12% |
| Regasification | $34.0M | $34.0M | $0 | 0% |
| Other revenues | $55.0M | −$719M | $774M | — |
| Revenue | $5.7B | $5.9B | −$136M | -2% |
| Operating profit | $4.3B | −$3.5B | $7.8B | — |
| Costs & expenses | $1.4B | $9.4B | −$7.9B | -85% |
| Pre-tax earnings | $4.0B | −$3.8B | $7.8B | — |
| Other expense, net | $282M | $265M | $17.0M | +6% |
| Cost of revenue | $439M | $8.3B | −$7.9B | -95% |
| SG&A | $88.0M | $136M | −$48.0M | -35% |
| Other operating costs | $915M | $902M | $13.0M | +1% |
| Net earnings | $3.1B | −$3.5B | $6.6B | — |
| Minority interests | $574M | $90.0M | $484M | +538% |
| Income tax | $366M | −$341M | $707M | — |
| Depreciation & amortization | $380M | $373M | $7.0M | +2% |
| Share-based compensation | $37.0M | $78.0M | −$41.0M | -53% |
| Working capital & other | $1.9B | −$4.1B | $6.0B | — |
| Operating cash flow | $1.6B | $1.1B | $498M | +46% |
| Free cash flow (OCF − capex) | $398M | $344M | $54.0M | +16% |
| Capital expenditures | $1.2B | $736M | $444M | +60% |
Questions
How much did Cheniere Energy's revenue grow quarter over quarter in Q2 2026?
Cheniere Energy's revenue fell $136M (-2%) from $5.9B in Q1 2026 to $5.7B in Q2 2026.
What drove Cheniere Energy's revenue change in Q2 2026?
LNG −$904M (-14%); Other revenues +$774M (—); Other −$6.0M (-12%).