EXE

Expand EnergyNASDAQ · Oil & Gas Exploration & Production · Energy

Previous close

90.55

Change

+0.11 / +0.12%

FinDog View

Bullish

52-Week Range ?

83.25 – 126.62

P/E (TTM) ?

7.5

Forward P/E ?

10.2

Based on consensus earnings for the next 12 months

Market Cap

$20.9B

+7.68%

S&P 500 −0.91% over same period

Volume / Avg Volume

2.2M / 3.5M

0.61× average

Latest earnings analysisFY2026 Q2Reported 2026-07-28

Expand Energy Q2 2026: revenue down 19.8% on weaker gas prices

Expand Energy's second-quarter revenue fell 19.8% to $2.96 billion and GAAP net income halved to $522 million, yet adjusted earnings of $1.33 a share beat the $1.1574 consensus by 14.9%. The quarter's GAAP profit leaned on $449 million of derivative gains, so the cleaner read is the adjusted number plus the debt paydown. Read the balance sheet improvement as the real story.

Read the full analysis →

Revenue$2.96BYoY −19.80%

EPS (non-GAAP)$1.33Beatest. $1.16

Next-day move+4.45%

Price History

Closing price · USD1M 6M 1Y 5Y

Historical P/E

Close ÷ trailing four-quarter EPS · Period median 12.61M 6M 1Y 5Y

Recent Earnings

Click to read the FinDog analysis

Period	Reported	Revenue	EPS Actual / Est.	Next-Day Move	Analysis
FY2026 Q2 Quarter ended 2026-06	2026-07-28	$3.0B	1.33 / 1.16	+4.45%	Read analysis →
FY2026 Q1 Quarter ended 2026-03	2026-04-28	$4.4B	3.83 / 3.68	+4.16%	Pending
FY2025 Q4 Quarter ended 2025-12	2026-02-17	$12.1B	2.00 / 1.90	−3.14%	Pending
FY2025 Q3 Quarter ended 2025-09	2025-10-28	$3.0B	0.97 / 0.98	−0.58%	Pending
FY2025 Q2 Quarter ended 2025-06	2025-07-29	$3.7B	1.10 / —	+4.87%	Pending
FY2025 Q1 Quarter ended 2025-03	2025-04-29	$2.2B	2.02 / —	−3.32%	Pending

Next Earnings

Date and consensus from the earnings calendar; the analysis is generated automatically after the releaseEarnings Calendar →

Report date

2027-02-15

in 106 days · After hours

Consensus EPS

$2.10

Last quarter EPS $1.33

Avg. next-day move over the last 6 reports

±3.4%

Decision Panel

Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market data

Valuation

P/E is at percentile 42 of its 5-year rangeMid-range

5-year range 2.0 – 58.7 · Median 9.5

Last 4 quarters: $900M in buybacks + $548M in dividends, 6.91% of market cap combined

P/E (TTM)

7.5

P/B

1.1

P/S

1.5

Dividend Yield

3.66%

Earnings Reaction

Over the last 6 reports, the stock moved ±3.4% on average on the first trading day after, rising 3 times

Most recent +4.45%

Volatility & Correlation

1-year beta -0.12 · Correlation with S&P 500 -0.05Low beta

Annualized volatility 30% vs. 13% for the S&P 500

Insider Trading

View all →

Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions

No open-market buys or sells by officers or directors in the last 90 days.

Multi-Quarter Financial Trends

View all quarters →

Last 12 quarters · As reported by the company

Quarter	Revenue ($B)	YoY	Gross Margin	Operating Income ($B)	Net Income ($B)	Free Cash Flow ($B)	EPS
FY2026 Q3	3.29	+10.8%	—	0.64	0.52	0.34	2.24
FY2026 Q2	2.96	−19.8%	—	0.66	0.52	0.34	2.19
FY2026 Q1	4.40	+100.2%	—	1.53	1.16	1.70	4.81
FY2025 Q4	3.27	+63.5%	—	0.75	0.55	0.22	2.33
FY2025 Q3	2.97	+357.7%	—	0.73	0.55	0.43	2.28
FY2025 Q2	3.69	+630.7%	—	1.27	0.97	0.67	4.02
FY2025 Q1	2.20	+103.1%	—	-0.27	-0.25	0.53	-1.06
FY2024 Q4	2.00	+2.7%	—	-0.39	-0.40	-0.15	-2.15
FY2024 Q3	0.65	−57.1%	—	-0.16	-0.11	0.12	-0.85
FY2024 Q2	0.51	−73.3%	—	-0.29	-0.23	-0.09	-1.73
FY2024 Q1	1.08	−67.9%	—	0.03	0.03	0.13	0.18
FY2023 Q4	1.95	−52.8%	—	0.73	0.57	0.09	4.10

Peers

Largest by market cap in the sector · Latest quarterView Energy sector →

Ticker	Company	Market Cap	P/E	Revenue YoY	Gross Margin	1M	View
EXE	Expand Energy	$20.9B	7.5	+10.8%	—	+7.68%	Bullish
XOM	ExxonMobil	$753B	22.6	+42.3%	—	+15.05%	Neutral	Compare
CVX	Chevron Corporation	$465B	22.6	+51.4%	45.5%	+15.33%	Bullish	Compare
COP	ConocoPhillips	$184B	19.7	+43.3%	62.9%	+23.08%	Bullish	Compare
MPC	Marathon Petroleum	$124B	14.2	+53.8%	17.2%	+12.47%	Neutral	Compare
VLO	Valero Energy	$121B	15.4	+43.3%	20.4%	+3.11%	Bullish	Compare
PSX	Phillips 66	$109B	15.0	+46.4%	19.2%	+10.78%	Bullish	Compare
WMB	Williams Companies	$87.7B	29.6	+0.0%	—	+9.39%	Neutral	Compare
EOG	EOG Resources	$86.6B	12.6	+57.4%	—	+20.17%	Bullish	Compare

The View in One Line

Adjusted EPS 1.33 beat by 14.9%, free cash flow $343M, buybacks plus dividends $652M, debt cut to $3.69B at ~0.5x leverage; bullish if gas prices hold.

Updated 2026-10-30

View History

09-17Neutral → Bullish
Adjusted EPS $1.33 beat by 14.9%, FCF $343M, buybacks plus dividends $652M, debt cut to $3.685B with ~0.5x leverage. Bullish.

Notable Institutional Holders

Citadel Advisors · Ken Griffin$56.7MReduced −59%
Bridgewater Associates · Ray Dalio$40.8M
Renaissance Technologies$2.1MReduced −93%

As of 2026-06-30

ETFs holding it

XLE Energy Select Sector SPDR Fund0.98%
RSP Invesco S&P 500 Equal Weight ETF0.19%
VYM Vanguard High Dividend Yield ETF0.08%
QUAL iShares MSCI USA Quality Factor ETF0.07%
VOO Vanguard S&P 500 ETF0.03%
IVV iShares Core S&P 500 ETF0.03%
SPY SPDR S&P 500 ETF Trust0.03%
VTI Vanguard Total Stock Market ETF0.03%

Weights estimated at latest prices

Key Events

10-19Management Change
Expand Energy Appoints Daniel E. Brown as President and CEO
The board appointed Daniel E. Brown, 51, as president and CEO effective October 26, 2026, with a $1 million annual base salary.Source ↗
10-13Management Change
Expand Energy Appoints Sarah Grose as Chief Accounting Officer
On October 8, 2026, Sarah Grose was appointed VP and Chief Accounting Officer of Expand Energy, with a base salary of $325,000 and long-term incentive target of $500,000.Source ↗
10-06Capital Actions
Expand Energy Amends Credit Agreement, Extends Maturity by One Year
On October 6, 2026, Expand Energy amended its credit agreement with JPMorgan and lenders, extending the facility maturity from September 30, 2030 to September 30, 2031.Source ↗
09-17Capital Actions
Expand Energy issues $500 million 5.650% senior notes
On September 17, 2026, Expand Energy completed a $500 million offering of 5.650% senior notes due 2031.Source ↗
09-16M&A / Contracts
Twin Eagle Acquisition Completed; Executive Dan Turco Changes Role
Expand Energy completed its acquisition of Twin Eagle Holdings N.A. on September 16, 2026; Dan Turco stepped down as Executive Vice President of Marketing and Commercial and became Executive Vice President of Commercial Activities.Source ↗
09-16Capital Actions
Expand Energy Prices $500 Million of 2031 Senior Notes
Expand Energy priced $500 million of 5.650% senior notes due 2031 on September 15, 2026, with settlement expected on September 17.Source ↗
07-30M&A / Contracts
Expand Energy Acquires Twin Eagle for $1.25 Billion
Expand Energy signed a merger agreement on July 24, 2026 to acquire natural gas marketer Twin Eagle for $1.25 billion, with a $62.5 million deposit already paid.Source ↗
06-26Management Change
VP of Accounting Resigns; CFO Temporarily Assumes Chief Accounting Officer Role
On June 23, 2026, VP of Accounting and Controller Gregory M. Larson resigned, and CFO Marcel Teunissen will temporarily serve as Chief Accounting Officer effective immediately while the company searches for a permanent successor.Source ↗

Key Financial Trends

Quarterly Revenue ($B)3.3

Free Cash Flow ($B)0.3