Venture Global, Inc. (NYSE:VG) shares surged 7% in premarket trading on Monday after the liquefied natural gas exporter reported fourth-quarter results that exceeded profit forecasts, supported by a sharp increase in production volumes.
The company posted adjusted earnings per share of $0.41 for the fourth quarter, ahead of analyst estimates of $0.35.
Quarterly revenue totaled $4.45 billion, in line with market expectations and marking a 192% increase compared with $1.52 billion recorded in the same period a year earlier.
During the quarter, Venture Global exported 128 LNG cargoes and sold 478 TBtu of liquefied natural gas, representing a 275% rise from the fourth quarter of 2024.
For the full year 2025, the company generated revenue of $13.8 billion, up 177% year over year, while consolidated adjusted EBITDA reached $6.3 billion, an increase of 198% from the prior year.
Looking ahead, Venture Global issued consolidated adjusted EBITDA guidance for 2026 in the range of $5.20 billion to $5.80 billion, with a midpoint of $5.50 billion.
For the first quarter of 2026, consolidated adjusted EBITDA is expected to come in between $1.15 billion and $1.25 billion, reflecting the effects of Winter Storm Fern and pressure on margins. The company forecasts total exports of between 486 and 527 cargoes in 2026 across its operating facilities.
“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,” said CEO Mike Sabel. “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.”
Venture Global reaffirmed its timeline for the Plaquemines Project, targeting commercial operations for Phase I in the fourth quarter of 2026 and Phase II in mid-2027. Construction on CP2 Phase I remains on schedule and within budget, with first production expected toward the end of 2027.