Venture Global (VG) Q1 2026 Financial Results Summary

Release Date: May 12, 2026

Venture Global, Inc. (NYSE: VG) has reported its financial results for the first quarter ending March 31, 2026. The following are key financial highlights and metrics from the quarter:

Key Financial Highlights:

• Revenue: $4.6 billion, an increase of 59% compared to $2.9 billion in Q1 2025.
• Income from Operations: $1.2 billion, increasing by 7% from $1.1 billion in Q1 2025.
• Net Income: $0.5 billion (or $488 million), up 23% compared to $396 million in Q1 2025.
• Consolidated Adjusted EBITDA: $1.4 billion, representing a 2% increase from $1.3 billion in Q1 2025.

LNG Sales Performance:

• Exported Cargos: 130 cargos, a significant rise of 106% from 63 cargos in Q1 2025.
• Liquefied Natural Gas Sold: 481 TBtu, an increase of 111% compared to 228.3 TBtu sold in Q1 2025.
• Total Assets: Reached $56.3 billion, showing an increase of $11.2 billion from $45.1 billion as of March 31, 2025.

Operational Developments:

• Increased EBITDA Guidance: Raised to $8.2 - $8.5 billion, up from $5.2 - $5.8 billion, assuming a liquefaction fee of $9.50/MMBtu - $10.50/MMBtu for unsold cargos.
• Cargo Contracting: Sold 84% of available cargos for 2026 at a weighted average liquefaction fee of $4.51/MMBtu.
• Tightened Cargo Range: Updated expected cargo range for 2026 to 494 - 523 from 486 - 527.

Strategic Initiatives:

• Final Investment Decision: Announced for CP2 Phase II, with successful closing of an $8.6 billion project financing, bringing total CP2 financing to $20.7 billion.
• Supply Agreements:
  • Increased five-year binding LNG agreement with Vitol from 1.5 MTPA to approximately 1.7 MTPA.
  • A new agreement with TotalEnergies for approximately 0.85 MTPA of LNG starting in 2026.
  • Contracted three additional LNG sales and purchase agreements (SPAs), including a 20-year SPA with Hanwha Aerospace and two five-year agreements with Trafigura and Vitol.

Recent Financial Milestones:

• Calcasieu Pass Funding, LLC completed a $1.75 billion senior secured term loan B credit facility.
• Venture Global Calcasieu Pass, LLC closed a $750 million offering of 6.0% senior secured notes due 2036 to prepay construction-term loans.

Outlook for 2026:

• Consolidated Adjusted EBITDA guidance updated to $8.2 billion - $8.5 billion.
• Expected to export 147 - 154 cargos from the Calcasieu Project and 347 - 369 cargos from the Plaquemines Project in 2026.
• Anticipated commissioning completion for Plaquemines Project Phase I in Q4 2026.

Additional Information:

• There is no mention of a quarterly dividend declared or share repurchase in the reported results.
• The management reaffirmed their commitment to deliver reliable energy and maintain operational integrity amid challenges in the global LNG market.

This summary captures the essential financial metrics and company developments for Venture Global, enabling stakeholders to review the company's performance in Q1 2026. Further details can be discussed in the forthcoming conference call scheduled for May 12, 2026, at 9:00 am Eastern Time (ET).

Note: All amounts are in millions.

VENTURE GLOBAL, INC. - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share information)

	March 31, 2026	March 31, 2025
REVENUE	$ 4,599	$ 2,894
OPERATING EXPENSE
Cost of sales (exclusive of depreciation)	2,784	1,059
Operating and maintenance expense	270	252
General and administrative expense	97	105
Development expense	46	182
Depreciation and amortization	251	216
Total operating expense	3,448	1,814
INCOME FROM OPERATIONS	1,151	1,080
OTHER INCOME (EXPENSE)
Interest income	28	56
Interest expense, net	-444	-276
Gain (loss) on interest rate swaps	15	-192
Loss on financing transactions	-13	—
Loss on foreign currency transactions	-1	—
Total other expense	-415	-412
INCOME BEFORE INCOME TAX EXPENSE	736	668
Income tax expense	111	151
NET INCOME	625	517
Less: Net income attributable to redeemable stock of subsidiary	42	38
Less: Net income attributable to non-controlling interests	27	15
Less: Dividends on VGLNG Series A Preferred Shares	68	68
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 488	$ 396
BASIC EARNINGS PER SHARE
Net income attributable to common stockholders per share—basic	$ 0.20	$ 0.17
Weighted average number of shares of common stock outstanding—basic	2,463	2,399
DILUTED EARNINGS PER SHARE
Net income attributable to common stockholders per share—diluted	$ 0.19	$ 0.15
Weighted average number of shares of common stock outstanding—diluted	2,635	2,643

VENTURE GLOBAL, INC. - CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions, except share information)

	2026	2025
ASSETS
Current assets
Cash and cash equivalents	$ 1,599	$ 2,355
Restricted cash	335	195
Accounts receivable	810	918
Inventory, net	241	253
Derivative assets	88	65
Prepaid expenses and other current assets	146	254
Total current assets	3,219	4,040
Property, plant and equipment, net	49,754	46,588
Right-of-use assets	731	737
Noncurrent restricted cash	1,117	875
Deferred financing costs	831	543
Noncurrent derivative assets	206	216
Other noncurrent assets	Disclaimer The content on MarketsFN.com is provided for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or trading guidance. All investments carry risk and past performance does not guarantee future results. You are solely responsible for your investment decisions and should conduct independent research and consult a qualified financial advisor before acting. MarketsFN.com and its authors are not liable for any losses or damages arising from the use of this information.