Venture Global Inc. VG recorded fourth-quarter 2025 earnings per share of 41 cents, which topped the Zacks Consensus Estimate of 35 cents. The bottom line improved from the year-ago quarter’s 33 cents.
Total quarterly revenues of $4.4 billion increased from $1.5 billion in the year-ago quarter. However, the top line missed the Zacks Consensus Estimate of $4.7 billion.
The strong quarterly earnings can be attributed to higher liquefied natural gas (LNG) sales volumes, primarily from the Plaquemines project. Lower LNG sales prices, net of feedgas cost at the Calcasieu project, partially offset the positives.
VG’s Operating Results
Income from operations totaled $1.72 billion compared with $594 million in the fourth quarter of 2024. This increase was primarily driven by higher LNG sales volumes at the Plaquemines project due to commissioning progress. It was partially offset by lower LNG sales prices after accounting for feedgas costs at the Calcasieu project following the commencement of LNG sales under its post-COD sales and purchase agreements.
Venture Global exported 128 cargoes in the fourth quarter, significantly higher than the 33 cargoes in the year-ago period. The total LNG volumes exported were 478 trillion British thermal units (TBtu), up from 128 TBtu in the year-ago quarter.
Adjusted EBITDA in the fourth quarter totaled $2 billion, up 191% from the year-ago level of $688 million due to higher LNG sales volumes following the Plaquemines project commissioning.
VG’s Costs & Expenses
The cost of sales in the quarter totaled $2.1 billion, up from the year-ago period’s $414 million. Operating and maintenance expenses increased to $261 million from $211 million in the fourth quarter of 2024.
Total operating expenses were $2.7 billion, up from $930 million in the December-end quarter of 2024.
Balance Sheet of VG
As of Dec. 31, 2025, the partnership had $2.4 billion in cash and cash equivalents, and a net long-term debt of $33.4 billion.
VG’s Outlook
For 2026, the company projected adjusted EBITDA of $5.2-$5.8 billion. For the first quarter of 2026, the metric is expected to be $1.15-$1.25 billion. The LNG company anticipates exporting 145-156 cargoes from the Calcasieu Project. From the Plaquemines project, it expects to export 341-371 cargoes in the year.
Recent Q4 Releases
Some other companies from the energy sector that have recently reported fourth-quarter results are Range Resources Corporation RRC, EOG Resources EOG and Cactus Inc. WHD.
Range Resources reported fourth-quarter 2025 adjusted earnings of 82 cents per share, which beat the Zacks Consensus Estimate of 68 cents. Fourth-quarter revenues of $811.86 million rose from the year-ago quarter’s $749.83 million. The outperformance can be attributed to higher gas-equivalent production and increased natural gas price realization. RRC hiked its quarterly cash dividend to 10 cents per share, payable to shareholders of record as of March 13, 2026.
EOG Resources posted fourth-quarter 2025 adjusted earnings per share of $2.27, which beat the Zacks Consensus Estimate of $2.20. Fourth-quarter revenues of $5.64 billion rose from the year-ago quarter’s $5.59 billion. Better-than-expected earnings were mainly driven by higher oil-equivalent production volumes. A decrease in the average realized price for crude oil and condensates partially offset the gains.
Cactus registered fourth-quarter 2025 adjusted earnings of 65 cents per share, which beat the Zacks Consensus Estimate of 58 cents. Fourth-quarter revenues declined to $261 million from $272 million a year ago. The company’s quarterly revenues were primarily aided by higher sales of drilling equipment and increased rental income in the Pressure Control segment. Lower customer activity levels affected the Spoolable Technologies segment, partially affecting its quarterly performance.
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Range Resources Corporation (RRC): Free Stock Analysis Report EOG Resources, Inc. (EOG): Free Stock Analysis Report Venture Global, Inc. (VG): Free Stock Analysis Report Cactus, Inc. (WHD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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