Energy
Cheniere's Q2 FY2026 net income soared to $3.1 billion as a $1.4 billion derivative fair value swing and a 20% volume increase from new trains overshadowed higher non-cash charges.
Key risk: Commodity Price and Spread Volatility
Earnings are sensitive to global LNG and U.S. natural gas price spreads, which caused a $3.4 billion unfavorable derivative swing in the first half of 2026.