0000895126-26-000011
SEC filingExpand Energy Corporation (EXE) reported strong financial results for fiscal year 2025, ending December 31, 2025. The company generated total revenues of $12.12 billion, driven by $11.64 billion in core revenues and a $550 million gain on derivatives. Net income reached $1.82 billion, with earnings per share of $8.00 (both basic and diluted). Operating income was $2.47 billion, reflecting efficient cost management with total operating expenses of $9.65 billion. The company maintained robust cash generation, with net cash provided by operating activities of $4.58 billion. Capital expenditures totaled $2.74 billion, indicating continued investment in growth. The balance sheet shows total assets of $28.29 billion, with stockholders' equity of $18.58 billion and long-term debt of $5.01 billion. The company returned capital to shareholders through $765 million in dividends and $100 million in stock repurchases.
Expand Energy Corporation delivered solid financial performance for fiscal year 2025. The company reported total revenues of $12.12 billion, consisting of $11.64 billion in core revenues, $550 million in derivative gains, and a $65 million loss on asset sales. Net income reached $1.82 billion, translating to earnings per share of $8.00 on both basic and diluted bases. Operating income was $2.47 billion, representing a 20.4% operating margin. The company maintained strong cash generation with $4.58 billion in operating cash flow. Weighted average shares outstanding were 237.3 million (basic) and 240.4 million (diluted).
The company's revenue stream is primarily driven by its core operations, with $11.64 billion in revenues from natural gas, oil, and NGL activities. A significant $550 million gain on derivatives contributed to overall revenue performance, while asset sales resulted in a $65 million loss. The marketing segment accounted for $3.16 billion of operating expenses, indicating substantial marketing operations. No detailed segment breakdown or geographic mix was provided in the available data.
Operating margin was 20.4% based on $2.47 billion operating income from $12.12 billion total revenues. The cost structure shows significant expenses in gathering, processing and transportation ($2.38 billion), marketing ($3.16 billion), and depreciation, depletion and amortization ($2.98 billion). Production costs were $635 million, while general and administrative expenses totaled $181 million. Other operating expenses included severance and ad valorem taxes ($193 million), exploration ($46 million), and impairments ($37 million).
Net cash provided by operating activities was $4.58 billion, with major adjustments including $2.98 billion in depreciation and $550 million in derivative gains. Investing activities used $2.76 billion, primarily for capital expenditures ($2.74 billion) and property acquisitions ($195 million). Financing activities used $1.51 billion, including $765 million in dividends, $100 million in stock repurchases, and $663 million in debt purchases. The balance sheet shows $28.29 billion in total assets, with $24.36 billion in net property and equipment. Current assets totaled $2.92 billion, including $616 million in cash. Total liabilities were $9.71 billion, with $5.01 billion in long-term debt. Stockholders' equity was $18.58 billion.
No specific management guidance, strategic priorities, or forward-looking statements were provided in the available financial data. The filing does not include discussion of risk factors, market conditions, or operational outlook beyond the reported financial results for fiscal year 2025.