Filing Flows › Venture Global (VG) › Q2 2025
Venture Global (VG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 12, 2025
Venture Global (VG) reported revenue of $3.1B for the second quarter 2025 (Q2 2025), +180% from a year earlier and +7% from the quarter before. Operating margin was 33.5%, net earnings $368M (11.9% of revenue).
Venture Global, Q2 2025: revenue $3.1B (+180% year over year), operating margin 33.5%, net earnings $368M, operating cash flow $1.5B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.1B | +7% | +180% |
| Operating profit | $1.0B | -4% | +186% |
| Net earnings | $368M | -7% | +21% |
| Operating cash flow | $1.5B | +31% | +161% |
What changed
Revenue was $3.1B in Q2 2025, up 180% year over year and up 7% from the previous quarter. LNG was the largest line at 99% of revenue. LNG added $2.0B year over year (up 179%), 99% of the total change.
Operating profit was $1.0B, a 33.5% margin (up 0.7 points year over year). Of the extra revenue versus a year earlier, 34% reached operating profit, above the 33% margin then. Total costs grew 177% against revenue growth of 180%. The fastest-growing cost line was Cost of revenue (+373%). Net earnings were $0.37B, up 21% year over year. The effective tax rate was 19.6%.
Operating cash flow was $1.5B (up 161% year over year), 307% of net income including minority interests. Non-cash charges added back $0.27B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.70B. Capital expenditures of $3.0B exceeded it, leaving free cash flow of −$1.5B.
Questions
What was Venture Global's revenue in the second quarter 2025?
Venture Global (VG) reported revenue of $3.1B for the second quarter 2025 (Q2 2025), +180% from a year earlier and +7% from the quarter before.
Was Venture Global profitable in the second quarter 2025?
Operating profit was $1.0B (33.5% of revenue) and net earnings $368M.
Source: Venture Global 10-Q on SEC EDGAR.