Aug. 12 at 2:42 AM
$VG taken from Jack Prandelli’s post on X
🇺🇸Venture Global just raised its 2026 EBITDA guidance to
$8.7–9.1 billion.
And the stock dropped.
Here's the gap between the headline and the reality.
The numbers that explain why the miss happened:
Calcasieu Pass operating income: down 63% year on year.
Not because volumes dropped LNG sales were up 42% to 466 TBtu.
But because Calcasieu entered commercial operations, triggering a structural shift in how facility fees are recognized.
Lower US natural gas prices compounded the drag.
Operating expenses: +15.9% to
$2.39 billion.
Interest expense: +58% to
$489 million the cost of financing a
$61.5B asset base during a construction ramp.
The miss was a Calcasieu accounting story, not a demand story.
Plaquemines drove almost all of the growth.
Cargo forecasts tightened and raised.
Full-year EBITDA guidance lifted for the second consecutive
To read the entire post go to X. Good info.
