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Expand Energy Q3 profit beats analyst expectations

By Reuters News


Overview

  • North America natural gas producer's Q3 revenue beat analyst expectations

  • Adjusted EPS for Q3 beat analyst expectations

  • Company completed Twin Eagle acquisition and repurchased $305 mln of stock in Q3


Outlook

  • Expand Energy expects 2026 capital investment of about $3 bln

  • Company expects 2026 average daily production of 7.45–7.55 Bcfe/d

  • Company expects Q4 marketing EBITDA of $80 mln, reflecting Twin Eagle acquisition impact


Result Drivers

  • OPERATIONAL PERFORMANCE - Co said strong operational performance and liquids revenue drove cash generation

  • ACQUISITION IMPACT - Co said Twin Eagle acquisition contributed to marketing segment results in Q3

  • PRODUCTION VOLUME - Co cited drilling and well completions leading to net production of 7.54 Bcfe/d in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$3.29 bln

$2.61 bln (18 Analysts)

Q3 Adjusted EPS

Beat

$1.46

$1.27 (24 Analysts)

Q3 Net Income

$519 mln

Q3 Operating Expenses

$2.65 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 24 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

  • Wall Street's median 12-month price target for Expand Energy Corporation is $123.50, about 31.4% above its October 26 closing price of $94.02

  • The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Oct 26 - EQT to buy Range Resources in $13 billion deal to create top US gas producer

  • Oct 26 - Ovintiv to buy Logan Energy for $890 million, expanding Montney oil position

  • Oct 26 - Alliance Resource Partners Q3 profit jumps on record royalty revenues


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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