Quarterly ResultApr 28, 2026, 04:01 PM
EXE Q1 Net Income $1.16B; Debt Reduced $1.3B; New LNG SPA
AI Summary
Expand Energy Corporation reported strong first quarter 2026 financial and operating results, with net income of $1,159 million and net cash provided by operating activities of $2,402 million. The company significantly reduced total debt by approximately $1.3 billion and net debt by $1.6 billion from year-end 2025, while also repurchasing $150 million of common stock. Additionally, Expand Energy signed a new 20-year Sales and Purchase Agreement with Delfin FLNG Vessel 1 for ~1.15 million tonnes of LNG offtake per year, further extending its market reach.
Key Highlights
- Signed 20-year SPA with Delfin FLNG for ~1.15 million tonnes of LNG offtake per year.
- Net cash provided by operating activities of $2,402 million.
- Net income of $1,159 million, or $4.81 per fully diluted share.
- Adjusted EBITDAX of $1,968 million.
- Total debt reduced by ~$1.3 billion from senior note redemption in April 2026.
- Repurchased $150 million of common stock through April 24, 2026.
- Net production of ~7.44 Bcfe/d, reaffirming 2026 guidance of ~7.5 Bcfe/d.
- Plans to pay quarterly base dividend of $0.575 per share on June 4, 2026.