Filing Flows › Venture Global (VG) › Q2 2026 › vs Q1 2026
Venture Global (VG) Q2 2026 vs Q1 2026 (quarter over quarter)
Venture Global's revenue fell $21.0M (-0.5%) from $4.6B in Q1 2026 to $4.6B in Q2 2026. The biggest changes: LNG revenue −$19.0M (-0.4%); Other revenue −$2.0M (-8%). Operating margin 47.8% against 25.0% (+22.8 pts).
Venture Global, Q2 2026: revenue $4.6B (+48% year over year), operating margin 47.8%, net earnings $1.3B, operating cash flow $2.1B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 47.8% | 25.0% | +22.8 pts |
| Net margin | 29.4% | 10.6% | +18.8 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| LNG revenue | $4.6B | $4.6B | −$19.0M | -0.4% |
| Other revenue | $22.0M | $24.0M | −$2.0M | -8% |
| Revenue | $4.6B | $4.6B | −$21.0M | -0.5% |
| Operating profit | $2.2B | $1.2B | $1.0B | +90% |
| Costs & expenses | $2.4B | $3.4B | −$1.1B | -31% |
| Pre-tax earnings | $1.8B | $736M | $1.0B | +138% |
| Other expense, net | $435M | $415M | $20.0M | +5% |
| Cost of revenue | $1.7B | $2.8B | −$1.1B | -40% |
| Research & development | $23.0M | $46.0M | −$23.0M | -50% |
| General & admin | $112M | $97.0M | $15.0M | +15% |
| Other operating costs | $595M | $521M | $74.0M | +14% |
| Net earnings | $1.3B | $488M | $859M | +176% |
| Minority interests | $70.0M | $137M | −$67.0M | -49% |
| Income tax | $336M | $111M | $225M | +203% |
| Depreciation & amortization | $260M | $251M | $9.0M | +4% |
| Share-based compensation | $15.0M | $12.0M | $3.0M | +25% |
| Working capital & other | $450M | $12.0M | $438M | 38× |
| Operating cash flow | $2.1B | $763M | $1.3B | +172% |
| Capital expenditures | $3.7B | $3.2B | $538M | +17% |
| Negative free cash flow (OCF − capex) | $1.6B | $2.4B | −$771M | -32% |
Questions
How much did Venture Global's revenue grow quarter over quarter in Q2 2026?
Venture Global's revenue fell $21.0M (-0.5%) from $4.6B in Q1 2026 to $4.6B in Q2 2026.
What drove Venture Global's revenue change in Q2 2026?
LNG revenue −$19.0M (-0.4%); Other revenue −$2.0M (-8%).