Expand Energy Corporation (EXE) reported third-quarter total revenues and other of $3.286 billion, versus $2.966 billion a year earlier, while net income was $519 million versus $547 million. For the first nine months, total revenues and other were $10.643 billion versus $8.852 billion, and net income was $2.2 billion versus $1.266 billion. Operating cash flow for the nine months was $4.675 billion, compared with $3.619 billion.
EXE completed its approximately $1.4 billion acquisition of Twin Eagle on September 16, 2026; the natural-gas marketing and logistics business contributed $196 million of revenue and $4 million of net earnings through September 30, 2026. During the nine months, EXE repurchased 9.8 million shares for $909 million. Liquidity as of September 30, 2026 was $3.9 billion, including $3.1 billion available under the Credit Facility. Lenders consented on October 6, 2026, to extend that facility’s maturity to September 30, 2031. Fitch upgraded the revolver credit rating and senior notes from BBB- to BBB on May 6, 2026. Estimated gross undiscounted gathering, processing, transportation and storage commitments were $8.94 billion.
Expand Energy Corporation (EXE) reported third-quarter 2026 total revenues and other of $3.286 billion, compared with $2.966 billion a year earlier. Net income was $519 million, or $2.24 per diluted share, versus $547 million and $2.28; adjusted net income was $338 million ($1.46 per diluted share), and adjusted EBITDAX was $1.229 billion. For the first nine months, net income was $2.2 billion versus $1.266 billion. Net cash provided by operating activities was $1.177 billion. Production averaged approximately 7.54 Bcfe/d, 92% natural gas. The company completed the Twin Eagle acquisition on September 16, 2026, and reported total debt of $4.6 billion and leverage of 0.8x at quarter-end.
Expand Energy repurchased $305 million of common stock in Q3; year-to-date repurchases were approximately $900 million, about 4% of shares outstanding. For 2026, it expects 11–12 rigs, approximately $3 billion in capital investment, and average daily production of approximately 7.45–7.55 Bcfe/d. Marketing adjusted EBITDA was $150 million for the first nine months; the company expects $80 million in Q4, reflecting the Twin Eagle acquisition.
Expand Energy Corp. (EXE) VP, Treasurer Brittany Raiford forfeited 511 common shares to the issuer on October 15, 2026, to satisfy tax-withholding obligations tied to partial vesting of a previously disclosed restricted stock unit award. The shares were reported at $90.80 per share; Raiford's direct holdings afterward were 17,937 shares.
Expand Energy Corporation appointed Daniel E. Brown as president and chief executive officer, effective when his employment begins, anticipated October 26, 2026. Brown will also join the board until the company’s next annual meeting. Michael A. Wichterich will leave the interim CEO role and remain chairman; the transition was planned. Wichterich may retain a pro-rata portion of his 2026 long-term incentive award, subject to retaining RSUs and PSUs with an aggregate grant-date fair value of $1,000,000.
Brown’s offer letter sets an annual base salary of $1,000,000 and a target cash bonus of 125% of base salary; his 2026 bonus will be paid at target achievement. Annual long-term incentives have an $8,750,000 target value, split 30% in RSUs and 70% in PSUs, prorated for 2026. A make-whole award has target values of $4,726,662 in RSUs and $10,925,584 in PSUs. The RSUs vest in equal installments on December 31, 2027, December 31, 2028 and December 31, 2029. The PSUs are tied to total shareholder return over overlapping periods ending December 31, 2028, December 31, 2029 and December 31, 2030, and may vest early upon a qualifying termination.
Expand Energy Corp (EXE) lists direct holdings reported by Sarah Tintera Grose, VP-Chief Accounting Officer, as of October 8, 2026: 3,274 common-stock securities, identified in a footnote as restricted stock units, each a contingent right to receive one common share. The filing also lists two performance share unit entries, each linked to 246 underlying common shares. Each unit represents a contingent right to receive zero to two shares, depending respectively on relative or absolute total shareholder return; both entries list March 15, 2028 as the expiration date.
Expand Energy Corp EVP - General Counsel Christopher W. Lacy forfeited 1,839 common shares to the issuer on October 15, 2026, to satisfy tax withholding obligations in connection with partial vesting of a previously disclosed restricted stock unit award. He directly held 57,192 shares after the transaction.
Expand Energy Corporation appointed Sarah Grose as Vice President – Chief Accounting Officer on October 8, 2026, and she assumed principal accounting officer duties effective immediately. Marcel Teunissen, the company’s Executive Vice President and Chief Financial Officer, had been performing those duties on an interim basis. Grose joined the company in 2019 and most recently served as Director – Corporate Accounting from 2021 to 2026.
Her annual base salary is $325,000. Her annual cash performance bonus target is 50% of her annual base salary, earned based on performance goals established by the Board or Compensation Committee and prorated for 2026. She will also participate in the 2021 Long-Term Incentive Program, with an annual long-term incentive target of $500,000.
Expand Energy Corporation entered into Amendment No. 1 to its Amended and Restated Credit Agreement, extending the credit facility’s maturity by one year, from September 30, 2030, to September 30, 2031. The agreement is among the company, its lenders and JPMorgan Chase Bank, N.A., as administrative agent.
Expand Energy Corporation (EXE) completed an underwritten public offering of $500,000,000 aggregate principal amount of its 5.650% Senior Notes due 2031, issued under an automatically effective Form S-3 shelf registration. The Notes are senior unsecured obligations, ranking equally with other unsecured senior debt and senior to any future subordinated debt.
The Notes are not guaranteed by subsidiaries and are therefore structurally subordinated to subsidiary indebtedness. Expand Energy may redeem the Notes at an optional redemption price before August 15, 2031, and at 100% of principal plus accrued interest on or after that Par Call Date. The Indenture includes customary covenants limiting certain liens and major corporate transactions.
Expand Energy Corporation (EXE) is offering $500,000,000 aggregate principal amount of 5.650% Senior Notes due 2031 under a shelf registration. The notes are senior unsecured obligations, effectively subordinated to any future secured debt and structurally subordinated to subsidiary debt, including the Twin Eagle Credit Facility.
The notes are priced at 99.889% of principal with a 0.600% underwriting discount, generating expected net proceeds of about $496.4 million before expenses, to be used for general corporate purposes. Interest accrues from September 17, 2026, is payable semi-annually on March 15 and September 15 starting March 15, 2027, and the notes mature on September 15, 2031, with make-whole and par call redemption features.