Venture Global's Inaugural Earnings Report: Sales Miss, $18 Billion LNG Expansion At Louisiana And More

Venture Global, Inc. VG shares are trading higher premarket on Friday. The company reported fourth-quarter results on Thursday.

Venture Global began trading on the NYSE on January 24, 2025, following its initial public offering.

Revenue declined 7% year over year to $1.52 billion, missing the consensus of $1.92 billion. LNG volumes sold fell 13% Y/Y, with Cragos declining 18% Y/Y and TBtu decreasing 16% Y/Y.

Adjusted EBITDA fell 15% Y/Y to $688 million due to weak LNG sales volumes and increased costs to remediate and commission the Calcasieu Project. EPS of $0.33 beat the consensus of $0.30.

Venture Global CEO Mike Sabel said, “We have brought much needed incremental LNG capacity to the market from Calcasieu Pass and Plaquemines – the majority of which went to our allies in Europe.”

”We continue to improve and optimize production, most recently at Plaquemines, where every liquefaction train we have activated thus far has consistently demonstrated pro rata production levels of approximately 140% of nameplate capacity.”

”We also recently announced that we anticipate commencing commercial operations at Calcasieu Pass on April 15, 2025, and are thrilled to report that we are launching the FID process for CP2.”

Related Read: Venture Global’s Pullback Presents Big Opportunity, Analyst Says

Outlook: For 2025, the company expects adjusted EBITDA of $6.8 billion – $7.4 billion.

The company expects to export 140 – 148 cargos from the Calcasieu Project and 219 – 239 cargos from the Plaquemines Project.

In a separate release, Venture Global announced a brownfield expansion at its Plaquemines LNG facility in Louisiana.

The expansion will add 24 trains and represents an $18 billion investment, bringing the company’s total planned U.S. investment to over $75 billion.

Price Action: VG shares, which closed down 36% at $9.10 on Thursday, are up 1.65% at $9.25 premarket at the last check Friday.

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