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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Neil Mehta | Goldman Sachs | 13 (0%) |
| Scott Hanold | RBC Capital Markets | 13 (0%) |
| Doug Leggate | Wolfe Research | 13 (0%) |
| John Freeman | Raymond James | 13 (8%) |
| Zach Parham | JPMorgan | 12 (0%) |
| Kevin MacCurdy | Pickering Energy Partners | 11 (0%) |
| Charles Meade | Johnson Rice | 10 (0%) |
| Matt Portillo | Tudor, Pickering, Holt | 10 (0%) |
| Phillip Jungwirth | BMO Capital Markets | 7 (0%) |
| Devin McDermott | Morgan Stanley | 6 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wolfe Research | 1 | 13 (0%) |
| JPMorgan | 2 | 13 (0%) |
| RBC Capital Markets | 1 | 13 (0%) |
| Raymond James | 1 |
| 13 (8%) |
| Goldman Sachs | 1 | 13 (0%) |
| Pickering Energy Partners | 1 | 11 (0%) |
| Johnson Rice | 1 | 10 (0%) |
| Tudor, Pickering, Holt | 1 | 10 (0%) |
Expand Energy generated $1.7B in free cash flow in Q1 2026, reducing gross debt by $1.3B (meeting the full-year target in one quarter) and returning over $290M to shareholders. A Delfin LNG SPA for 1.15 million tons per year extended the company's reach to global markets, and marketing generated approximately $90M in incremental value from monetizing volatility. The Western Haynesville first well showed encouraging results, and the company held 72% of the lowest breakeven Haynesville inventory per third-party analysis.
Capex Investment | Demand | Capital Allocation | Competitive Dynamics | Cost Pressure | Revenue Growth | Macroeconomic | Pricing | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 9 | 6 | 3 | 3 | 2 | 1 | 4 | 2 |
| 2025Q1 | 7 | 7 | 5 | 2 | 6 | 4 | 4 | 3 |
| 2025Q2 | 3 | 4 | 5 | 4 | 4 | 1 | 4 | 4 |
| 2025Q3 | 9 | 3 | 5 | 3 | 6 | 3 | 3 | 3 |
| 2025Q4 | 8 | 9 | 7 | 5 | 2 | 7 | 1 | 1 |
| 2026Q1 | 4 | 7 | 4 | 5 | 1 | 5 | 3 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Capex Investment | 9 | 7 | 3 | 9 | 8 | 4 |
| Demand | 6 | 7 | 4 | 3 | 9 | 7 |
| Capital Allocation | 3 | 5 | 5 | 5 | 7 | 4 |
| Competitive Dynamics | 3 | 2 | 4 | 3 | 5 | 5 |
| Cost Pressure | 2 | 6 | 4 | 6 | 2 | 1 |
| Revenue Growth | 1 | 4 | 1 | 3 | 7 | 5 |
| Macroeconomic | 4 | 4 | 4 | 3 | 1 | 3 |
| Pricing | 2 | 3 | 4 | 3 | 1 | 2 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.00B | +10.5% | $-1.72 | -142.8% | 31.9% | -19.3% | -20.0% | $-154M |
| FY2025 Q1 | $2.20B | +104.7% | $-1.06 | -688.9% | 35.3% | -12.2% | -11.3% | $533M |
| FY2025 Q2 | $3.69B | +632.8% | $4.02 | +332.4% | 38.3% | 34.4% | 26.3% | $665M |
| FY2025 Q3 | $2.97B | +359.1% | $2.27 | +367.1% | 79.5% | 24.4% | 18.4% | $426M |
| FY2025 Q4 | $3.05B | +52.4% | $2.30 | +233.7% | 46.4% | 18.3% | 18.1% | $78M |
| FY2026 Q1 | $4.40B | +100.2% | $4.81 | +553.8% | 53.2% | 34.8% | 26.4% | $1.70B |
| FY2026 Q2 | $2.96B | -19.7% | $2.19 | -45.5% | 78.6% | 22.3% | 17.6% | $343M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What EXE and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Today, we announced a new offtake SPA with Delfin LNG for 1.15 million tons per year, extending our market reach to global demand centers.”
Expand signed a new 1.15 mtpa LNG offtake SPA with Delfin LNG (replacing a prior agreement), extending Expand's reach to global demand centers and adding Delfin as an LNG offtake counterparty.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
EXE Expand Energy | 7 | +100.2% | |
| APA APA Corporation | 5 | -11.7% | |
| COP ConocoPhillips | 6 | -2.5% | |
| CTRA Coterra | · | n/a | |
| DVN Devon Energy | 5 | -13.0% | |
| EOG EOG Resources | 9 | +15.7% | |
| EQT EQT Corporation | 9 | +39.7% | |
| FANG Diamondback Energy | 6 | +5.2% | |
| OXY Occidental Petroleum | 6 | -23.1% | |
| TPL Texas Pacific Land Corporation | 8 | +20.8% |