Cheniere Energy Partners, L.P. (CQP) Earnings
Cheniere Energy Partners, L.P. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $0.95. CQP has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +32.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $1.07 | $1.23 | +15.0% | $3.6B | +24.0% |
| Feb 26, 2026 | $1.11 | $2.66 | +139.6% | $2.9B | +4.7% |
| Oct 30, 2025 | $1.02 | $0.81 | -20.6% | $2.4B | -6.1% |
| Aug 7, 2025 | $0.96 | $0.91 | -5.2% | $2.5B | -7.4% |
| May 8, 2025 | $1.06 | $1.08 | +1.9% | $3.0B | +14.3% |
| Feb 20, 2025 | $1.13 | $1.05 | -7.1% | $2.5B | +0.3% |
| Oct 31, 2024 | $0.97 | $1.08 | +11.3% | $2.1B | -11.6% |
| Aug 8, 2024 | $0.88 | $0.95 | +8.0% | $1.9B | -8.0% |
| May 3, 2024 | $0.97 | $1.18 | +21.6% | $2.3B | +4.0% |
| Feb 22, 2024 | $0.71 | $0.96 | +35.2% | $2.7B | +8.7% |
| Nov 2, 2023 | $0.53 | $0.60 | +13.2% | $2.1B | -8.5% |
| Aug 3, 2023 | $0.85 | $0.84 | -1.2% | $1.9B | -14.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2025 · February 26, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
It takes 18 months to two years to obtain a permit, and pipeline plans need to be filed with FERC and made public, followed by 3 to 4 years of construction. The U.S. natural gas production has increased from around 67 - 68 BCF a day in February 2016 to over 110 BCF a day currently. We work to get economies of scale by going back to optimized plans for projects like SPL and CCL expansions. Filings for CCL Stage 3 and mid - scale 8 and 9 expansions are about de - bottlenecking and accommodating peak production at certain sites. The CPC contract starts mid - 2026.
Guidance
Committed to growing the dividend by approximately 10% per year throughout the decade. There is potential upside to volume guidance from Corpus Stage 3 trains coming online earlier than contemplated. Plans are in place for FIDs of Train 7 and Train 4 with cost - effective strategies to achieve economies of scale.
Segment performance
Asia is expected to grow from a roughly 270 million ton market, which has been stagnant in recent years due to high prices, to well over 400 million tons in the next decade. Gas - to - power demand in the U.S. is at new highs, partly driven by growing data center electricity needs.
Risks & headwinds
Concerns that rising LNG exports could worsen domestic affordability pressures. Uncertainties regarding the permitting and commercialization of incremental capacity in China.
Analyst Q&A
Q: What is your view on rising LNG exports exacerbating domestic affordability pressures and its impact on Chinese ability to permit and commercialize incremental capacity, as well as LNG's importance as a strategic trade and geopolitical lever?
A: It takes 18 months to two years to get a permit, and pipeline plans take 3 to 4 years for construction. We purchase firm transportation. Gas - to - power entities don't like firm transportation. We explain how the markets work to legislators and regulators.
Q: Talk about the drivers of significant EPC CapEx escalation in LNG greenfield projects in 2025 and its impact on brownfield projects like yours?
A: There is some escalation, and we are working through it with partners. Lead time is more of a concern than inflation. We have gone back to an optimized plan to obtain economies of scale.
Q: Timing and use case for the CCL Stage 3 and mid - scale 8 and 9 expansions?
A: Those filings are about de - bottlenecking and accommodating peak production at certain times of the year at the site. It is part of the overall plan to reach 75 million tons.
Q: When is the CPC contract expected to kick in during 2026?
A: It starts mid - year.
Q: How does the ramp - up of Corpus Stage 3 affect the volume guidance upside?
A: Still early in the year, but if all three trains were a month early, there could be comfortably over $50 million of incremental EBITDA at current margins. Things are progressing well.
Q: Do SBA opportunities support higher - cost trains beyond initial brownfield opportunities?
A: If we needed to get to 20 million tons of additional contracted volumes, we couldn't maintain the $2.50 - $3 standard currently. Our performance and reliability help capture premium contracts.
Q: Thoughts on dividend growth and its relation to buybacks?
A: Committed to growing the dividend by 10% per year through the decade. 50% of the payout ratio is for buybacks, which enhances the company's financial flexibility.