Expand Energy beats third-quarter estimates and raises 2026 spending plan to about $3 billion

Revenue reached $3.29 billion, against $2.63 billion expected, and the company now plans to run 11 to 12 drilling rigs in 2026.

Expand Energy reported third-quarter earnings of $1.46 per share, $0.18 above expectations. Revenue came in at $3.29 billion, against $2.63 billion expected.

The company raised its full-year 2026 capital investment plan to about $3 billion. It now expects to run 11 to 12 drilling rigs and to produce an average of 7.45 billion to 7.55 billion cubic feet equivalent per day.

For the fourth quarter, the company expects marketing EBITDA of $80 million. That figure, a measure of operating profit before interest, taxes, depreciation and amortization, reflects the acquisition of Twin Eagle.

Expand Energy will pay a quarterly dividend of $0.575 per share on December 3, 2026, to shareholders of record on November 12, 2026. It has $1 billion left under its expanded share repurchase authorization.

This is the first earnings report under Daniel Brown as permanent chief executive. He took over on October 19, less than two weeks ago, from interim chief executive Michael Wichterich. The earnings and revenue beats, higher 2026 capital spending and a rig count of 11 to 12 point to growth after the more cautious interim period. The Twin Eagle contribution, the unchanged dividend and the $1 billion of unused buyback capacity suggest the new leadership is acting on several capital return fronts at once rather than easing in.