Expand Energy Beats Estimates with Strong Q2 Earnings

Expand Energy, a US natural gas producer, has reported better-than-expected profits for the second quarter. The company's production averaged 6.9 billion cubic feet per day (Bcfepd) during the period, up from about 6.6 Bcfepd in the same quarter last year.

The increase in output was driven by growing demand for natural gas to power data centers and rising liquefied natural gas exports. However, the average realized price of natural gas was $2.90 per thousand cubic feet (Mcf), compared to $2.98 Mcf a year earlier.

Natural gas futures averaged $3.020 per million British thermal units, down 17.5% from a year ago. Despite this decline, Expand Energy's adjusted profit of $1.33 per share for the April-to-June quarter surpassed analysts' average estimate of $1.12 per share.