Filing Flows › Venture Global (VG) › Q2 2026 › vs Q2 2025
Venture Global (VG) Q2 2026 vs Q2 2025 (year over year)
Venture Global's revenue rose $1.5B (+48%) from $3.1B in Q2 2025 to $4.6B in Q2 2026. The biggest changes: LNG revenue +$1.5B (+48%); Other revenue +$1.0M (+5%). Operating margin 47.8% against 33.5% (+14.3 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 47.8% | 33.5% | +14.3 pts |
| Net margin | 29.4% | 11.9% | +17.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| LNG revenue | $4.6B | $3.1B | $1.5B | +48% |
| Other revenue | $22.0M | $21.0M | $1.0M | +5% |
| Revenue | $4.6B | $3.1B | $1.5B | +48% |
| Operating profit | $2.2B | $1.0B | $1.1B | +111% |
| Costs & expenses | $2.4B | $2.1B | $327M | +16% |
| Pre-tax earnings | $1.8B | $591M | $1.2B | +197% |
| Other expense, net | $435M | $447M | −$12.0M | -3% |
| Cost of revenue | $1.7B | $1.4B | $241M | +17% |
| Research & development | $23.0M | $57.0M | −$34.0M | -60% |
| General & admin | $112M | $103M | $9.0M | +9% |
| Other operating costs | $595M | $484M | $111M | +23% |
| Net earnings | $1.3B | $368M | $979M | +266% |
| Minority interests | $70.0M | $107M | −$37.0M | -35% |
| Income tax | $336M | $116M | $220M | +190% |
| Depreciation & amortization | $260M | $267M | −$7.0M | -3% |
| Share-based compensation | $15.0M | $11.0M | $4.0M | +36% |
| Working capital & other | $450M | $812M | −$362M | -45% |
| Operating cash flow | $2.1B | $1.5B | $614M | +42% |
| Capital expenditures | $3.7B | $3.0B | $739M | +25% |
| Negative free cash flow (OCF − capex) | $1.6B | $1.5B | $125M | +8% |
Questions
How much did Venture Global's revenue grow year over year in Q2 2026?
Venture Global's revenue rose $1.5B (+48%) from $3.1B in Q2 2025 to $4.6B in Q2 2026.
What drove Venture Global's revenue change in Q2 2026?
LNG revenue +$1.5B (+48%); Other revenue +$1.0M (+5%).