Earnings summaries and quarterly performance for EXPAND ENERGY.
Executive leadership at EXPAND ENERGY.
Nick Dell’Osso
Detailed
President and Chief Executive Officer
CEO
BR
Brittany Raiford
Detailed
Vice President, Interim Chief Financial Officer and Treasurer
CL
Chris Lacy
Detailed
Executive Vice President, General Counsel and Corporate Secretary
JV
Joshua Viets
Detailed
Executive Vice President, Chief Operations Officer
Board of directors at EXPAND ENERGY.
BD
Benjamin Duster IV
Detailed
Director
BS
Brian Steck
Detailed
Director
CK
Catherine Kehr
Detailed
Director
CJ
Chip Johnson
Detailed
Director
JG
John Gass
Detailed
Director
MG
Matthew Gallagher
Detailed
Lead Independent Director
MW
Michael Wichterich
Detailed
Chairman of the Board
SE
Sarah Emerson
Detailed
Director
SK
Shameek Konar
Detailed
Director
TD
Timothy Duncan
Detailed
Director
Research analysts who have asked questions during EXPAND ENERGY earnings calls.
John Freeman
Raymond James Financial
6 questions for EXE
Also covers: APA, AR, CRGY +9 more
Kevin MacCurdy
Pickering Energy Partners
6 questions for EXE
Also covers: AR, CHRD, CNX +15 more
Neil Mehta
Goldman Sachs
6 questions for EXE
Also covers: AESI, APA, AR +36 more
Scott Hanold
RBC Capital Markets
6 questions for EXE
Also covers: APA, CHRD, CIVI +13 more
Zach Parham
JPMorgan Chase & Co.
6 questions for EXE
Also covers: CIVI, CNX, CRC +7 more
DL
Doug Leggate
Wolfe Research
5 questions for EXE
Also covers: APA, AR, BP +23 more
JS
Josh Silverstein
UBS Group
5 questions for EXE
Also covers: APA, AR, CIVI +10 more
Betty Jiang
Barclays
3 questions for EXE
Also covers: APA, AR, BKV +17 more
CM
Charles Meade
Johnson Rice & Company L.L.C.
3 questions for EXE
Also covers: APA, BRY, COP +17 more
DM
Devin Mcdermott
Morgan Stanley
3 questions for EXE
Also covers: COP, CVX, EQT +3 more
Matthew Portillo
Tudor, Pickering, Holt & Co.
3 questions for EXE
Also covers: CTRA, DVN, MRO +1 more
PD
Paul Diamond
Citigroup
3 questions for EXE
Also covers: AR, CHRD, CRK +11 more
PJ
Phillips Johnston
Capital One Securities, Inc.
3 questions for EXE
Also covers: CHRD, COP, CRC +8 more
John Annis
Texas Capital Bank
2 questions for EXE
Also covers: BSM, EQT, GRNT +4 more
Kalei Akamine
Bank of America
2 questions for EXE
Also covers: CNX, COP, CRC +10 more
LM
Leo Mariani
ROTH MKM
2 questions for EXE
Also covers: APA, AR, CIVI +18 more
ND
Neal Dingmann
Truist Securities
2 questions for EXE
Also covers: APA, CHRD, CIVI +36 more
Phillip Jungwirth
BMO Capital Markets
2 questions for EXE
Also covers: AR, CIVI, COP +21 more
DD
David Deckelbaum
TD Cowen
1 question for EXE
Also covers: ALB, ALTM, APA +17 more
DL
Douglas Leggate
Wolfe Research
1 question for EXE
Also covers: APA, COP, CVX +6 more
JE
John Ennis
Texas Capital
1 question for EXE
Also covers: EQT
Recent press releases and 8-K filings for EXE.
Extendicare Reports Q4 and Full Year 2025 Results, Increases Dividend, and Provides Update on CBI Home Health Acquisition
EXE
Earnings
Dividends
M&A
- Extendicare reported strong financial results for Q4 and full year 2025, with Adjusted EBITDA (excluding out-of-period items) increasing by 36.4% to $45.6 million in Q4 2025 and 24.3% to $160.6 million for the full year 2025.
- The company announced a 5% increase to its monthly dividend to 4.41 cents per common share, effective with the dividend to be declared in March 2026.
- Extendicare entered into a definitive agreement to acquire CBI Home Health for $570.0 million, anticipated to close in early Q2 2026, and expects the acquisition to be 20% accretive to fully diluted AFFO per share.
- The CBI Home Health acquisition is being partially funded by $191.5 million net proceeds from a private placement of common shares in December 2025 and a $214.5 million upsizing of its senior secured credit facility.
1 day ago
EXPAND ENERGY Reports Q4 and Full-Year 2025 Results and Provides 2026 Outlook
EXE
Earnings
Guidance Update
Dividends
- EXPAND ENERGY reported Adjusted EBITDAX of $1,425 million for Q4 2025 and $5,078 million for FY 2025, with Net Income of $553 million for Q4 2025 and $1,819 million for FY 2025.
- The company returned ~$865 million to shareholders in 2025 and announced an annual base dividend of $2.30 per share for 2026, with a $0.575 per share payment for Q4 2025.
- For 2026, EXPAND ENERGY projects total production of 7,400-7,600 MMcfe/d and total capital expenditures of $2,750-$2,950 million.
- The company achieved ~$1.2 billion in gross debt reduction since the merger close and anticipates at least $1 billion in net debt reduction in 2026.
- Operational improvements led to a ~15% improvement in Haynesville breakeven to less than $2.75.
Feb 18, 2026, 2:00 PM
Expand Energy Discusses Q4 2025 Results, CEO Search, and Marketing Strategy
EXE
CEO Change
M&A
New Projects/Investments
- Expand Energy achieved a 15% reduction in breakevens in the Haynesville in 2025 and reported $200 million in hedging gains for the year.
- The company is undergoing a CEO search, with Mike Wichterich serving as interim CEO, and expects the search to take 6 to 9 months.
- A key strategic focus for 2026 is enhancing its marketing business, aiming for $0.20 improved realizations across its business, which is projected to add approximately $500 million in EBITDA.
- For 2026, the company plans to continue reducing debt and considering shareholder returns, while also reducing maintenance capital.
Feb 18, 2026, 2:00 PM
Expand Energy Discusses Q4 2025 Results, CEO Search, and Marketing Strategy
EXE
CEO Change
Guidance Update
New Projects/Investments
- Expand Energy discussed its 2025 Fourth Quarter and Full Year Financial and Operating Results.
- The company is actively searching for a new CEO, with Mike Wichterich serving as Interim President and CEO, and the search is anticipated to take six to nine months.
- A key strategic focus is to increase realizations by $0.20, which is projected to generate an additional $500 million in EBITDA through premium markets, storage, and value chain participation.
- Expand Energy expects to average 7.5 Bcf per day in production for the full year with $2.85 billion in CapEx. The company also expanded its storage capacity by 3.5 Bcf in Q4 2025, reaching a total of 5 Bcf.
Feb 18, 2026, 2:00 PM
EXPAND ENERGY (EXE) Reports Strong 2025 Performance, Strategic Marketing Shift, and Initiates CEO Search
EXE
Earnings
Management Change
New Projects/Investments
- EXPAND ENERGY (EXE) achieved a 15% reduction in breakevens in the Haynesville and $200 million in hedging gains for 2025, while also reducing debt and returning capital to shareholders.
- The company is undergoing a strategic shift to enhance its marketing capabilities, moving to Houston to capture new demand and aiming for a $0.20 improvement in realizations across its business, which is projected to add approximately $500 million in EBITDA.
- Operational improvements in the Haynesville, including advanced completion designs and D&C cost reductions, are expected to drive sustainable higher productivity.
- A search for a new CEO is underway, anticipated to last six to nine months, to lead the company's broader energy vision.
- EXPAND ENERGY prioritizes balance sheet strength through debt reduction and maintains a disciplined approach to M&A, having completed over $15 billion in transactions in the past five years.
Feb 18, 2026, 2:00 PM
Expand Energy Corporation Reports Q4 and Full-Year 2025 Results, Issues 2026 Outlook
EXE
Earnings
Guidance Update
Dividends
- Expand Energy Corporation reported net income of $553 million or $2.30 per fully diluted share for Q4 2025, and $1,819 million or $7.57 per fully diluted share for the full-year 2025. Adjusted EBITDAX was $1,425 million for Q4 2025 and $5,078 million for the full year.
- The company's net production in Q4 2025 was approximately 7.40 Bcfe/d (92% natural gas), representing a 15% increase compared to Q4 2024. Full-year 2025 net production was approximately 7.18 Bcfe/d.
- In 2025, Expand Energy reduced gross debt by approximately $660 million and returned $865 million to shareholders through quarterly base dividends, variable dividends, and share repurchases.
- For 2026, Expand Energy expects to produce approximately 7.5 Bcfe/d with ~$2.85 billion of capital. The company plans to prioritize further debt reduction of at least $1 billion and will pay a quarterly base dividend of $0.575 per common share in March 2026.
Feb 17, 2026, 9:02 PM
Expand Energy Announces Headquarters Relocation, Interim CEO Appointment, and Reaffirms 2025 Outlook
EXE
CEO Change
Management Change
Guidance Update
- Expand Energy Corporation (EXE) plans to relocate its corporate headquarters from Oklahoma City, Oklahoma, to Houston, Texas, by mid-2026 to strengthen industry relationships and accelerate its strategy.
- Michael Wichterich has been appointed Interim President and Chief Executive Officer, effective immediately, succeeding Domenic (Nick) J. Dell’Osso, Jr., who has stepped down from the Board.
- As Interim President and CEO, Mr. Wichterich will receive a monthly base salary of $125,000 and an annual long-term incentive award with an aggregate grant date fair value of $3,600,000.
- The company reaffirmed its synergy, capital, and operating outlook for the fourth quarter and full year 2025.
Feb 9, 2026, 1:29 PM
Expand Energy Discusses Natural Gas Outlook and Strategy at Goldman Sachs Conference
EXE
Guidance Update
New Projects/Investments
- Expand Energy (EXE) maintains a constructive outlook on natural gas macro, anticipating volatility but also opportunities, with mid-cycle price expectations of $3.50-$4 for 2026 and 2027.
- The company was surprised by the significant U.S. natural gas production growth in 2025, particularly from Haynesville, and questions its sustainability at current price levels, noting the marginal break-even for growth is above $3.50.
- EXE employs a "Hedge-to-Wedge" strategy, hedging for an eight-quarter period using collars and swaps to protect capital and reduce cash flow volatility.
- Expand Energy's capital allocation is stable between Marcellus and Haynesville, with a focus on optimizing cash flow at mid-cycle prices and developing the Western Haynesville as a new, high-cost but strategically advantageous area.
- The company believes the traditional Haynesville can only grow a few more Bcf/d, and future demand growth will necessitate activating higher-cost assets, potentially requiring $4-$4.50 to incentivize supply.
Jan 6, 2026, 2:40 PM
Expand Energy (EXE) Discusses Natural Gas Outlook and Strategy
EXE
Guidance Update
New Projects/Investments
M&A
- Expand Energy (EXE) maintains a constructive outlook on the natural gas macro for 2026 and 2027, anticipating volatility with opportunities and positioning its portfolio with low-cost assets and strong inventory.
- The company employs a "Hedge-to-wedge" strategy, hedging eight quarters forward to manage near-term price risk and protect capital, particularly when the forward curve exceeds its mid-cycle price expectation of $3.50-$4.
- Expand's capital allocation is stable between the Marcellus and Haynesville, aiming for 7.5 Bcf/day total production optimized for $3.50-$4 mid-cycle prices. The company is also developing the Western Haynesville, having acquired inventory at under $1 million per location.
- While U.S. natural gas production, led by Haynesville, saw significant growth in the past year, the sustainability of this growth at current price levels is questioned, with the marginal break-even for growth estimated above $3.50.
- Expand believes the traditional Haynesville core can add a few more Bcf/day, but significant future supply growth to meet demand will require activating higher-cost assets, potentially needing $4-$4.50.
Jan 6, 2026, 2:40 PM
Expand Energy Discusses Natural Gas Strategy and Market Outlook
EXE
Guidance Update
New Projects/Investments
M&A
- Expand Energy's CEO, Nick Dell'Osso, maintains a constructive macro outlook for natural gas, expecting volatility but with opportunities, and notes the 2026 and 2027 forward strip aligns with their mid-cycle price expectations of $3.50-$4.
- The company utilizes a "Hedge-to-wedge" strategy, hedging for an eight-quarter period with collars and swaps to protect capital and manage near-term price risk, aiming to reduce cash flow volatility.
- Expand Energy's capital allocation between Marcellus and Haynesville is stable, designed to optimize cash flow at $3.50-$4 mid-cycle prices.
- The company is developing the Western Haynesville, having acquired acreage at a cost well under $1 million per location, significantly below other Haynesville transactions, and plans to leverage its experience to be a cost leader in this high-cost area.
- Dell'Osso believes the traditional Haynesville cannot fully meet the projected 18 Bcf/d of additional U.S. gas demand over the next few years, suggesting that $4-$4.50 prices will be necessary to activate higher-cost assets to meet this demand.
Jan 6, 2026, 2:40 PM
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