AI-extracted from the 10-Q filed 2026-07-28 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Expand Energy reported Q2 net income of $522M on total revenues of $2,960M, driven by $1,830M in natural gas, oil and NGL sales, with production reaching 7,482 MMcfe/day across Haynesville, Northeast and Southwest Appalachia.
Biggest Revenue Drivers
Natural gas, oil and NGL sales$1,830M-9.4% QoQ
Lower average gas prices partially offset by higher oil and NGL prices; increased volumes from new well production added $71M.
Gains on derivatives$449M-48.8% QoQ
Natural gas derivatives realized gains of $304M and unrealized gains of $122M; lower volatility than prior quarter.
Biggest Revenue Drivers
Natural gas, oil and NGL sales$1,830M-9.4% QoQ
Lower average gas prices partially offset by higher oil and NGL prices; increased volumes from new well production added $71M.
Gains on derivatives$449M-48.8% QoQ
Natural gas derivatives realized gains of $304M and unrealized gains of $122M; lower volatility than prior quarter.
Largest Expense Items
Depreciation, depletion and amortization$722M-6.1% QoQ
Lower depletion rates due to higher reserve evaluation prices in current quarter.
Marketing expenses$649M-17.9% QoQ
Decreased from lower natural gas prices; optimization efforts partially offset decline.
Production expenses$168M+11.3% QoQ
Increased salt water disposal and workover expenses in Haynesville from higher production activity.
Margins: Operating income declined to $661M from $1,269M QoQ due to lower commodity prices offset by production growth. Gross margins compressed as gathering and production costs increased with higher volumes, though per-unit costs remained disciplined at $0.25/Mcfe for production and $0.93/Mcfe for G&P.
Watch Items from the Filing
Pending Twin Eagle Acquisition ($1.25B) announced July 24, 2026 to close Q3 2026, materially expanding marketing and logistics capabilities; funding via cash and credit facility draws.
Redeemed $1.3B of senior notes in H1 2026 (6.75% and 5.875% notes due 2029); debt reduced from $5.0B to $3.7B, improving leverage but consuming operating cash flow.
Haynesville represents 44% of revenues; Southwest Appalachia 30%; Northeast Appalachia 26%. Geographic concentration in lower-margin Appalachia regions carries margin pressure.
Liquidity of $4.2B (includes $0.7B cash, $3.5B undrawn credit facility) sufficient for capital program of $2.75–$2.95B in 2026 and $1.25B Twin Eagle acquisition.
Long-term LNG offtake agreement with Delfin FLNG 1 LLC (~1.15 MTPA, effective, commercial deliveries 2031) commits ~$2.9B over term; commodity price and inflation exposure.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Johnson S P IVDirectorGrant or award · Jun 4, 2026
Kehr Catherine ADirectorGrant or award · Jun 4, 2026
Congress trading in EXE
8 transactions in EXE reported by 3 members of Congress under the STOCK Act, most recent trade Feb 17, 2026. Reported transactions, not recommendations.
About EXPAND ENERGY Corp (EXE): stock profile, AI score and financials
EXPAND ENERGY Corp (EXE) stock profile, AI quality score, and SEC EDGAR financial data, a Energy sector company. 13F Pro's AI-powered ranking engine scores EXE at 82.3/100 on a composite quality score built from its SEC filings, placing it at rank #14 of 2,925 stocks — the top 1% of the AI-ranked universe. EXE scores in the top quartile across revenue growth (95.6), revenue scale (89.0), balance sheet strength (85.3). Based on the latest XBRL financial filings (Q2 2026), EXPAND ENERGY Corp reports quarterly revenue of $3.0B, net income of $522.0M, an operating margin of 22.3%. Top institutional holders of EXE by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. EXE trades on the Nasdaq exchange and files with the SEC under CIK 895126. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate EXE daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for EXPAND ENERGY Corp directly from SEC EDGAR.