Venture Global, Inc. (NYSE:VG) shares initially rose Monday after the company reported third-quarter fiscal 2025 results, but later gave up those gains and are now trading lower.
Details
Revenue of $3.33 billion beat the consensus of $3.30 billion. Revenue escalated 260% year over year (Y/Y) in the quarter.
On the other hand, EPS of 16 cents missed the street view of 23 cents.
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Adjusted EBITDA surged 439% Y/Y to roughly $1.5 billion, driven primarily by higher LNG sales volumes from the Plaquemines Project.
As of September 30, the company’s total assets stood at $50.1 billion.
Key Metrics
Venture Global set a new record by exporting 100 LNG cargos totaling 372 TBtu in the quarter, up 237% Y/Y.
The company signed three more LNG sale and purchase agreements, bringing total contracted volumes for the second half of 2025 to 5.25 MTPA, including deals inked in November.
Management Commentary
Venture Global CEO Mike Sabel added, “We are pleased with the construction and commissioning process at Plaquemines, which is progressing well and safely despite power island construction delays and normal-course challenges inherent in projects of this scale and complexity.”
“This quarter we reaffirmed our COD timing for Phase 1 and Phase 2, and thanks to incremental investments made by VG including temporary power at no additional cost to our customers, we remain on track to reach COD at Phase 1 in 54 months. The early-stage construction progress at CP2 is also well positioned to bring new LNG supply to global markets on schedule.”
According to Reuters, Sabel said he expects the company’s CP2 LNG project under construction in Louisiana to deliver returns of up to 30%.
Meanwhile, counterparties in arbitration are seeking $4.8–$5.5 billion in compensation over alleged failures to supply LNG from its Calcasieu Pass facility.
Recent Major LNG Deals
In conjunction with the earnings release, Venture Global penned a 20-year Sales and Purchase Agreement (SPA) with Naturgy for 1 MTPA of LNG starting in 2030.
Last week, Venture Global inked a 20-year SPA with Greece’s ATLANTIC – SEE LNG TRADE S.A. for at least 0.5 MTPA of U.S. LNG beginning in 2030, with an option to increase the volume.
Price Action: VG shares were trading lower by 1.94% to $7.835 at last check Monday.
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