Venture Global Inc. reported fourth‑quarter 2025 revenue of $4.4 billion, up 192% from $1.5 billion in Q4 2024, and net income of $1.1 billion, a 23% increase from $0.9 billion a year earlier. Adjusted EBITDA for the quarter was $2.0 billion, matching the company’s guidance and reflecting the ramp‑up of its Plaquemines LNG facility and continued growth at Calcasieu Pass.
For the full year ended December 31, 2025, the company generated $13.8 billion in revenue, a 177% jump from $5.0 billion in FY 2024, and $2.3 billion in net income, a 53% rise from $1.5 billion a year earlier. Diluted earnings per share were $0.41, beating the consensus estimate of $0.35 by $0.06, or 17.9%.
The earnings beat was driven by disciplined cost management and a favorable mix of high‑margin LNG exports. However, margin compression in the first quarter of 2026 was attributed to the narrowing spread between domestic and international gas prices and the impact of Winter Storm Fern, which disrupted operations at the Plaquemines site.
Management guided 2026 consolidated adjusted EBITDA to a range of $5.2 billion to $5.8 billion, maintaining confidence in continued expansion of the Plaquemines and CP2 projects while acknowledging short‑term headwinds. "At the beginning of 2025, we set a number of ambitious operational targets and I am pleased to be able to say that the team has exceeded every one of those targets in just one year — we shipped 380 cargos, signed eight new 20‑year SPA agreements enabling CP2 Phase I FID, and have demonstrated the capability to generate approximately 40% over nameplate at Plaquemines," CEO Mike Sabel said.
Investors responded favorably to the results, citing the strong earnings beat, robust revenue growth, and forward‑looking guidance as key drivers of confidence in the company’s execution and market position.
The company’s operational momentum is underpinned by the rapid ramp‑up of the Plaquemines LNG facility and sustained performance at Calcasieu Pass, positioning Venture Global as a leading LNG producer in North America. The guidance signals management’s belief that the company can continue to scale production while managing short‑term pricing pressures and weather‑related disruptions.
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