Investing.com -- Expand Energy Corp (NASDAQ:EXE) reported third quarter adjusted earnings of $1.46 per share, beating analyst estimates of $1.31 by $0.15. Revenue reached $3.29 billion, surpassing the consensus estimate of $2.86 billion.
The company generated net cash from operating activities of $1.177 billion during the quarter, driven by operational performance and liquids revenue. Net production averaged 7.54 Bcfe per day, consisting of 92% natural gas. Expand Energy completed the acquisition of Twin Eagle Holdings on September 16, adding to its operational scale.
Shares fell 0.9% in after-hours trading Tuesday following the results.
"With our diversified scale, investment-grade balance sheet and coast-to-coast customer access, Expand Energy is uniquely positioned to monetize the volatility we see in the gas market today, provide advantaged supply to premium markets and capitalize on the demand growth we expect in the future," said President and Chief Executive Officer Danny Brown.
For full year 2026, the company updated its capital investment guidance to approximately $3 billion and expects to operate 11 to 12 rigs. Average daily production is projected at 7.45 to 7.55 Bcfe per day.
The company reported $150 million of marketing adjusted EBITDA for the nine months ended September 30, 2026. For the fourth quarter, Expand Energy expects $80 million of marketing EBITDA, reflecting the impact of the Twin Eagle acquisition.
During the third quarter, Expand Energy repurchased $305 million of common stock, bringing year-to-date repurchases to approximately $900 million, representing 4% of shares outstanding. The company has $1 billion of capacity remaining under its expanded repurchase authorization. Expand Energy plans to pay a quarterly base dividend of $0.575 per share on December 3, 2026.
Total debt stood at $4.6 billion at quarter-end with a leverage ratio of 0.8x.
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