Highlights

  • Venture Global shows 158.67% one-year basic EPS growth, P/E of 11.02 and PEG of 0.00.
  • Third quarter 2026 LNG sold and recognized in revenue was 465.8 TBtu across 124 cargoes.
  • Implied weighted average fixed liquefaction fee was $6.79 per MMBtu for the third quarter.
  • Management raised 2026 consolidated adjusted EBITDA guidance to $8.7 billion to $9.1 billion.

Basic earnings per share growth of 158.67% over one year, a trailing twelve-month P/E of 11.02 and a PEG of 0.00 on an expected basis define Venture Global (NYSE:VG) as an undervalued growth stock, with shares trading at USD 14.36 on October 28, 2026, up 3.98%. Alongside those figures, the liquefied natural gas producer raised its 2026 consolidated adjusted EBITDA guidance to $8.7 billion to $9.1 billion with its second quarter 2026 results in August, and announced on October 7 that it sold and recognized in revenue 465.8 TBtu of LNG in the third quarter.

Based in Arlington, Virginia, and incorporated in Delaware, Venture Global produces and exports LNG. Its Class A common stock trades on the New York Stock Exchange. The company operates the Calcasieu Pass and Plaquemines facilities and is building a third project, CP2, with expansions planned at CP2 and Plaquemines. Management expects run-rate production across the three projects of approximately 85 MTPA once Plaquemines Phase 1 is operating.

Growth: Third Quarter 2026 Volumes and Liquefaction Fee

In an October 7 current report, Venture Global stated that it sold and recognized in revenue 465.8 TBtu of LNG in the quarter ended September 30, 2026, at an implied weighted average fixed liquefaction fee of $6.79 per MMBtu. It exported 124 cargoes from its facilities during the quarter.

Calcasieu Pass sold and recognized 137.7 TBtu and exported 37 cargoes. Plaquemines sold and recognized 328.1 TBtu and exported 87 cargoes. It also exported five Delivered Ex-Ship cargoes, totaling 20.4 TBtu, to be recognized in the following quarter.

The company said net income, cash flow and other results will be announced with its third quarter earnings, and that volumes and the fee are only a few measures of operating performance. The fee excludes the impact of gas supply basis.

Valuation: P/E of 11.02, PEG of 0.00 and Management Commentary

The P/E ratio of 11.02 is measured on trailing twelve-month earnings, and the PEG ratio of 0.00 on expected growth.

On the second quarter 2026 earnings call, management said its 2026 guidance range contemplates a liquefaction fee of $12.50 to $13.50 per MMBtu for cargoes remaining to be sold in 2026. It said a $1.00 per MMBtu change in fixed liquefaction fees over the rest of 2026 would adjust consolidated adjusted EBITDA by $180 million to $210 million, and by $650 million to $700 million for 2027.

Chief Executive Officer Michael Sabel said the option value of the company's configuration, which allows extra volumes beyond nameplate capacity, is in his view not captured in the company's value at all.

Capital Structure and Shareholder Returns

Management said on the call that the Board approved an increase in the quarterly common dividend, that the company plans to grow the dividend over time and that it may pursue share repurchases as its capital program matures. Chief Financial Officer Jonathan Thayer said the company repaid debt through July, including most of the bridge loan at CP2, and that refinancings completed in 2026 are expected to reduce annual interest and coupon obligations by more than $100 million.

Management listed funding expansion, deleveraging and balance sheet optimization, and return of capital as its priorities.

Disclosed Risks and Outlook for 2026 and Beyond

The company kept a broader guidance range than usual given LNG price volatility related to events in the Middle East, and expects to tighten it after the third quarter. Sabel also said European gas inventories remain well below normal levels. The company does not provide a reconciliation of forward-looking adjusted EBITDA to net income, and stated that the projected non-GAAP amounts could differ materially from GAAP.

Management said arbitrations tied to Calcasieu Pass remain outstanding. It expects resolution of the next one before the end of 2026, with a further hearing beginning at the end of November, and said it remains open to settling.

For 2026, management guided to 500 to 518 cargoes, including 351 to 364 from Plaquemines and 149 to 154 from Calcasieu Pass, and said 91% of volumes were contracted, up from 84% on the first quarter call. It reaffirmed Plaquemines Phase 1 commercial operation in the fourth quarter of 2026 and expects CP2 first LNG in the second half of 2027. It targets a final investment decision on a 10 MTPA CP2 expansion in early 2027 and on the first phase of the Plaquemines expansion in the first half of 2027.