Filing Flows › Venture Global (VG) › Q1 2026
Venture Global (VG) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 12, 2026
Venture Global (VG) reported revenue of $4.6B for the first quarter 2026 (Q1 2026), +59% from a year earlier and +3% from the quarter before. Operating margin was 25.0%, net earnings $488M (10.6% of revenue).
Venture Global, Q1 2026: revenue $4.6B (+59% year over year), operating margin 25.0%, net earnings $488M, operating cash flow $763M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +3% | +59% |
| Operating profit | $1.2B | -33% | +7% |
| Net earnings | $488M | -54% | +23% |
| Operating cash flow | $763M | -64% | -32% |
What changed
Revenue was $4.6B in Q1 2026, up 59% year over year and up 3% from the previous quarter. LNG revenue was the largest line at 99% of revenue. LNG revenue added $1.7B year over year (up 59%), 99% of the total change.
Operating profit was $1.2B, a 25.0% margin (down 12.3 points year over year). Of the extra revenue versus Q1 2025, 4% reached operating profit, below the 37% margin then. Total costs grew 90% against revenue growth of 59%. The fastest-growing cost line was Cost of revenue (+163%). Net earnings were $0.49B, up 23% year over year. The effective tax rate was 15.1%.
Operating cash flow was $0.76B (down 32% year over year), 122% of net income including minority interests. Non-cash charges added back $0.25B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.12B. Capital expenditures of $3.2B exceeded it, leaving free cash flow of −$2.4B.
Questions
What was Venture Global's revenue in the first quarter 2026?
Venture Global (VG) reported revenue of $4.6B for the first quarter 2026 (Q1 2026), +59% from a year earlier and +3% from the quarter before.
Was Venture Global profitable in the first quarter 2026?
Operating profit was $1.2B (25.0% of revenue) and net earnings $488M.
Source: Venture Global 10-Q on SEC EDGAR.