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Cheniere Energy Partners reported Q2 FY2026 revenue of $2.6 billion, below the consensus estimate of $2.7 billion. Adjusted earnings per share, as counted by the consensus, were $1.10, above the $0.95 consensus estimate.
On a year-earlier comparison, the company reported revenue of $2.6 billion, up from $2.5 billion. Its gross margin rose to 59.7% from 37.3%, while operating margin increased to 51.9% from 29.1%.
Cheniere reported diluted earnings per share, a separate measure from the consensus-adjusted figure, of $2.14, compared with $0.91 a year earlier. Free cash flow was $433.0 million, down from $490.0 million in the prior-year quarter.
In its filing, Cheniere said LNG production is typically higher in cooler months and major maintenance is usually scheduled in the second and third quarters.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $2.6 billion | $2.5 billion | 5.21% |
| Diluted EPS | $2.14 | $0.91 | 135.2% |
| Gross margin | 59.7% | 37.3% | 22.5 percentage points |
| Operating margin | 51.9% | 29.1% | 22.8 percentage points |
| Free cash flow | $433.0 million | $490.0 million | −11.6% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $1.10 | $0.95 | Beat by 15.8% |
| Revenue | $2.6 billion | $2.7 billion | Missed by 3.93% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
An earnings call was not available for the quarter, so management’s call commentary and analysts’ questions cannot be reported.
Guidance
Cheniere reconfirmed its full-year 2026 distribution guidance for common unitholders and maintained its base distribution, rather than changing either figure, in its August results release.
| Metric | For | Guide | Previous guide | Change |
|---|---|---|---|---|
| Dividend, Per Common Unit | FY2026 | $3.10–$3.40 | — | New |