What changed
$LNG — Liquefies natural gas for global transport and energy supply.
🎯 Q1 FY26 | Rev $6B | EPS $9.17 vs $4.69 🟢 | Margin -59.4%
💡 Consensus expected EPS of $4.69, but reported EPS (GAAP) was -$2.59 per the 10-Q, while the headline beat of $9.17 appears to be a non-GAAP or adjusted figure. The market is likely confusing adjusted EBITDA/distributable cash flow with GAAP net income. The massive GAAP loss of $3.5B vs.
🏢 Business Quality: 4/10 | Valuation: rich
📉 Reward/Risk: Upside 15% to $275 if market continues to ignore GAAP losses; downside 40% to $145 if GAAP losses persist and debt concerns rise. Ratio: 0.4x.
🔮 Catalyst: Q2 2026 earnings (early August 2026): watch for GAAP net income improvement and FCF generation. Failure signal: another GAAP loss or FCF below $500M.
💰 Entry: Current price $239.4 is not attractive.