Expand EnergyEXEEarnings & Financial Report
Expand Energy Corporation is the largest independent natural gas producer in the U.S., based on net daily production. Headquartered in Oklahoma City, the company operates in the Appalachian Basin of the Marcellus Formation in Pennsylvania and West Virginia, as well as the Haynesville Shale in Northwestern Louisiana.
Revenue
$2.0B
Gross Profit
N/A
Operating Profit
$-386.0M
Net Profit
$-399.0M
Gross Margin
N/A
Operating Margin
-19.3%
Net Margin
-19.9%
YoY Growth
2.7%
EPS
$-2.15
Expand Energy Q4 FY2024 Financial Summary
Expand Energy reported revenue of $2.0B (up 2.7% YoY) for Q4 FY2024, with a net profit of $-399.0M (down 170.1% YoY) (-19.9% margin).
Key Financial Metrics
| Total Revenue | $2.0B |
|---|---|
| Net Profit | $-399.0M |
| Gross Margin | N/A |
| Operating Margin | -19.3% |
| Report Period | Q4 FY2024 |
Revenue Breakdown
Expand Energy Q4 FY2024 revenue of $2.0B breaks down across 4 segments, led by Natural Gas Gathering Transportation Marketing And Processing at $649.0M (32.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Natural Gas Gathering Transportation Marketing And Processing | $649.0M | 32.4% |
| Natural Gas Marketing Sales | $569.0M | 28.4% |
| Natural Gas Sales | $483.0M | 24.1% |
| Other | $300.0M | 15.0% |
Expand Energy Revenue by Segment — Quarterly Trend
Expand Energy revenue by segment across the last 4 reported quarters, showing how each business line (such as Natural Gas Gathering Transportation Marketing And Processing and Natural Gas Marketing Sales) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Natural Gas Marketing Sales | $734.0M | — | $719.0M | $837.0M |
| Natural Gas Sales | — | $826.0M | $845.0M | $821.0M |
| Other | — | — | — | $180.0M |
Expand Energy Annual Revenue by Year
Expand Energy annual revenue history includes year-by-year totals (for example, 2025 revenue was $12.1B).
| Year | Annual Revenue |
|---|---|
| 2025 | $12.1B |
| 2023 | $8.7B |
| 2022 | $11.7B |
Expand Energy Quarterly Revenue & Net Profit History
Expand Energy results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $3.3B | +63.5% | $553.0M | 16.9% |
| Q3 FY2025 | $3.0B | +357.7% | $547.0M | 18.4% |
| Q2 FY2025 | $3.7B | +630.7% | $968.0M | 26.2% |
| Q1 FY2025 | $2.2B | +103.1% | $-249.0M | -11.3% |
| Q4 FY2024 | $2.0B | +2.7% | $-399.0M | -19.9% |
| Q3 FY2024 | $648.0M | -57.1% | $-114.0M | -17.6% |
| Q1 FY2024 | $1.1B | -67.9% | $26.0M | 2.4% |
| Q4 FY2023 | $1.9B | -52.8% | $569.0M | 29.2% |
Income Statement
| Q4 2023 | Q1 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.95B | $1.08B | $648.0M | $2.00B | $2.20B | $3.69B | $2.97B | $3.27B |
| YoY Growth | -52.8% | -67.9% | -57.1% | 2.7% | 103.1% | 630.7% | 357.7% | 63.5% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $14.38B | $14.02B | $13.39B | $27.89B | $27.93B | $27.77B | $27.61B | $28.29B |
| Liabilities | $3.65B | $3.34B | $3.20B | $10.33B | $10.74B | $9.83B | $9.46B | $9.71B |
| Equity | $10.73B | $10.68B | $10.19B | $17.57B | $17.19B | $17.94B | $18.15B | $18.58B |
Cash Flow
| Q4 2023 | Q1 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $470.0M | $552.0M | $422.0M | $382.0M | $1.10B | $1.32B | $1.20B | $956.0M |