Expand Energy

EXE · Energy · Market cap $21.2B

Q1 FY26 Jan 1 – Mar 31, 2026 reported Apr 28, 2026

Revenue$4.4B +100% year over year

Gross profit$2.3B

Operating profit$1.5B

Net profit$1.2B 26% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	4.4	100%	+100%
Natural Gas Sales	3.1	70%	+52%
Natural Gas Gathering…	1.2	27%	+33%
Oil Sales	0.1	2%	+12%
Cost of revenue	−2.1	48%
Gross profit	2.3	52% margin	+30pp
G&A	−0.1	1%	−1pp
Other	−0.7	16%	+0pp
Operating profit	1.5	35% margin	+47pp
Tax	−0.3
Net profit	1.2	26%	+38pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	3.7	100%	+631%
Oil and Gas	2	54%	+435%
Natural Gas Gathering…	0.8	22%	+479%
Natural Gas Marketing Sales	0.7	19%	+429%
Oil Sales	0.1	3%
Cost of revenue	−1.6	43%
Gross profit	2.1	56% margin	+36pp
G&A	−0	1%	−8pp
Other	−0.8	21%	+0pp
Operating profit	1.3	34% margin	+93pp
Tax	−0.3
Net profit	1	26%	+71pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Jan 1 – Mar 31, 2026	Apr 28, 2026	$4.4B	+100%	34%	$1.2B	26%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 29, 2025	$3.7B	+631%	35%	$1B	26%