Cheniere raises 2026 forecast, lifts dividend more than 12%

Cheniere Energy, Inc. (LNG) said on Oct. 29 that it raised its full-year 2026 guidance for Consolidated Adjusted EBITDA and Distributable Cash Flow, and that its board declared a quarterly cash dividend of 62.5 cents per share, an increase of over 12%.

The liquefied natural gas exporter reported third-quarter net income attributable to Cheniere of $1.17 billion. The company said it also reached a milestone of 5,000 LNG cargoes exported from its U.S. Gulf Coast operations, which it said came faster than any other LNG producer worldwide.

Here's how the company did:

• Revenue: $6.17 billion vs. $4.44 billion a year earlier
• Net income attributable to Cheniere: $1.17 billion vs. $1.05 billion a year earlier
• Diluted earnings per share: $5.65 vs. $4.75 a year earlier
• Consolidated Adjusted EBITDA: $1.90 billion vs. $1.61 billion a year earlier
• Adjusted Net Income: $750 million vs. $591 million a year earlier

2026 guidance

The company now expects Consolidated Adjusted EBITDA of $8.75 billion to $9.25 billion for 2026, up from its previous range of $7.90 billion to $8.40 billion. Distributable Cash Flow guidance rose to $6.05 billion to $6.55 billion, from $5.30 billion to $5.80 billion. Both are non-GAAP measures.

Jack Fusco, Chairman, President and Chief Executive Officer, said the results and outlook “enable us to further raise our guidance ranges for 2026.” He added that completion of the CCL Stage 3 Project and continued debottlenecking “provide increased visibility into our initial production forecast for 2027.”

Dividend and share repurchases

The 62.5-cent quarterly dividend is payable Nov. 17 to shareholders of record as of Nov. 9. The prior quarterly dividend was 55.5 cents.

In the third quarter, the company repurchased about 2.8 million shares for about $731 million. In the first nine months of 2026, it repurchased about 7.7 million shares for $1.8 billion. It also paid dividends totaling about $347 million in the nine months.

Projects and contracts

The company said it completed the seventh train of its CCL Stage 3 Project in August, ahead of its guaranteed schedule and within budget. The train expanded its liquefaction capacity by over 20%.

In October, Sabine Pass Liquefaction, LLC and Corpus Christi Liquefaction, LLC signed long-term LNG sale and purchase agreements with QatarEnergy for up to 4 million tonnes per year, beginning in the early 2030s and running through 2054. One million tonnes is subject to a positive final investment decision on the first phase of the SPL Expansion Project. In September, Cheniere Marketing, LLC signed a 22-year agreement with Petrobras to supply 0.8 million tonnes per year of LNG.

In September, the Federal Energy Regulatory Commission issued the final environmental impact statement for the SPL Expansion Project. The company said it had obtained commitments for a term loan to finance construction costs of the first phase, sized at about 50% of total estimated project costs. Closing is subject to conditions, including a positive final investment decision.

In a filing, the company said third-quarter capital spending included about $740 million of growth capital, with about $626 million funded from equity cash flows.