Filing Flows › Venture Global (VG) › Q1 2025
Venture Global (VG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
Venture Global (VG) reported revenue of $2.9B for the first quarter 2025 (Q1 2025), +105% from a year earlier and +90% from the quarter before. Operating margin was 37.3%, net earnings $396M (13.7% of revenue).
Venture Global, Q1 2025: revenue $2.9B (+105% year over year), operating margin 37.3%, net earnings $396M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +90% | +105% |
| Operating profit | $1.1B | +82% | +75% |
| Net earnings | $396M | -55% | -39% |
| Operating cash flow | $1.1B | +66% | +75% |
What changed
Revenue was $2.9B in Q1 2025, up 105% year over year and up 90% from the previous quarter. LNG was the largest line at 100% of revenue. LNG added $1.5B year over year (up 105%), 99% of the total change.
Operating profit was $1.1B, a 37.3% margin (down 6.3 points year over year). Of the extra revenue versus a year earlier, 31% reached operating profit, below the 44% margin then. Total costs grew 128% against revenue growth of 105%. The fastest-growing cost line was Cost of revenue (+190%). Net earnings were $0.40B, down 39% year over year. The effective tax rate was 22.6%.
Operating cash flow was $1.1B (up 75% year over year), 215% of net income including minority interests. Non-cash charges added back $0.22B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.37B. Capital expenditures of $3.5B exceeded it, leaving free cash flow of −$2.4B.
Questions
What was Venture Global's revenue in the first quarter 2025?
Venture Global (VG) reported revenue of $2.9B for the first quarter 2025 (Q1 2025), +105% from a year earlier and +90% from the quarter before.
Was Venture Global profitable in the first quarter 2025?
Operating profit was $1.1B (37.3% of revenue) and net earnings $396M.
Source: Venture Global 10-Q on SEC EDGAR.