Excelerate Energy (EE) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Excelerate Energy published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Excelerate Energy reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS (diluted), which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Excelerate is an Up-C: Excelerate Energy, Inc. owns about 28.1% of the operating partnership and the Kaiser-controlled EE Holdings owns the rest as Class B interests. Net income of $60.0 million is the whole business; $14.2 million is attributable to Class A shareholders, and EPS is per Class A share.
• The Q3 2025 adjusted figures exclude $2.2 million of transition and transaction expenses from the Jamaica acquisition. There were none in Q3 2026, so GAAP and adjusted EPS are the same.

Source: Excelerate Energy Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Excelerate Energy splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Excelerate Energy's LNG, gas and power revenue was $132 million in Q3 2026, down 46% from $245 million in Q3 2025, 44% of total revenue.
• Excelerate Energy's Terminal services revenue was $166 million in Q3 2026, up 14% from $146 million in Q3 2025, 56% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Excelerate Energy said:

“Excelerate has narrowed its full-year 2026 Adjusted EBITDA guidance range. For the full year, Adjusted EBITDA is now expected to range between $495 million and $515 million.”

“Maintenance capex is now expected to range between $65 million and $75 million. The decrease reflects the expected deferral of certain planned maintenance activities.”

“Committed growth capital guidance has increased and is now expected to range between $400 million and $410 million for the full year.”

Source: Excelerate Energy Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the EE forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted net income per Class A share, each as first reported in that quarter's release.

We do not hold a confirmed date for Excelerate Energy's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Excelerate Energy reports two revenue lines. Terminal services, $165.7 million in Q3 2026, comes from leasing and operating its floating regasification terminals under long-term take-or-pay agreements, generally for fixed fees plus certain variable costs. LNG, gas and power, $131.6 million, is the sale of LNG, natural gas, power or steam that Excelerate sources and delivers itself, mostly on a back-to-back price basis. (Excelerate Energy Q3 2026 release, Nov 4, 2026; Excelerate Energy Form 10-Q, Q3 2026, Nov 5, 2026)

Total revenues fell to $297.2 million from $391.0 million a year earlier. The drop was in LNG, gas and power, down $113.6 million, while terminal services rose $19.8 million. Excelerate said the timing of deliveries under its Atlantic Basin agreement cut margin by $11.0 million. In March 2026 it received a force majeure notice from QatarEnergy under its long-term LNG purchase agreement and issued a matching notice to Petrobangla under its LNG supply agreement, and it cannot predict when full performance under those contracts will resume. (Excelerate Energy Q3 2026 release, Nov 4, 2026; Excelerate Energy Form 10-Q, Q3 2026, Nov 5, 2026)

Because LNG sales pass through much of their cost, Excelerate tracks Adjusted Gross Margin, which rose to $155.9 million from $144.6 million. The 10-Q credits the new nine-month charter of the Excelerate Acadia in Aqaba, Jordan, which began in July 2026, along with subcharter work ($13.9 million) and more short-term LNG, gas and power sales ($6.1 million). (Excelerate Energy Form 10-Q, Q3 2026, Nov 5, 2026)

As of September 30, 2026 Excelerate controlled or operated 12 floating regasification terminals, one onshore regasification terminal, two LNG carriers and a combined heat and power plant, with operations in countries including Argentina, Bangladesh, Brazil, Finland, Germany, Iraq, Jamaica, Jordan, Pakistan and the UAE. The customer base is small: in 2025 three customers each at times accounted for over 10% of revenues. (Excelerate Energy Form 10-Q, Q3 2026, Nov 5, 2026; Excelerate Energy Form 10-K, 2025, Feb 27, 2026)

Excelerate Energy's diluted EPS was $0.44 in Q3 2026, against $0.43 a year earlier. Adjusted EPS was also $0.44. The company's only adjustment is transition and transaction expenses from the Jamaica acquisition, which added $0.02 to adjusted EPS in Q3 2025 and nothing this quarter. (Excelerate Energy Q3 2026 release, Nov 4, 2026)

EPS covers a small share of the profit. Of $60.0 million of net income, $45.8 million went to non-controlling interests, the Class B partnership interests owned by the Kaiser-controlled EE Holdings, leaving $14.2 million for Class A shareholders. Diluted Class A shares averaged 32,219,366, against 32,692,679 a year earlier, after Excelerate repurchased $38.1 million of Class A stock in the first nine months of 2026. (Excelerate Energy Q3 2026 release, Nov 4, 2026; Excelerate Energy Form 10-K, 2025, Feb 27, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Excelerate Energy gives full-year guidance in its release. In Q3 2026 it narrowed full-year Adjusted EBITDA to $495 million to $515 million, lowered maintenance capex to $65 million to $75 million on deferred maintenance, and raised committed growth capital to $400 million to $410 million because of the timing of spending on its FSRU conversion project. (Excelerate Energy Q3 2026 release, Nov 4, 2026)

The release dates several projects that feed later results: initial LNG deliveries to the Bahamas LNG Hub in the first quarter of 2027, Colombia regasification service in the first quarter of 2027, a targeted second-quarter 2027 startup for the Iraq LNG import terminal, and a converted FSRU available in 2028. (Excelerate Energy Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Excelerate Energy, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Excelerate Energy's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning EE is on is EE a buy or a sell?, what analysts expect next is on the EE forecast, and what the company does is on the Excelerate Energy (EE) stock page.

Every number on this page can be traced to a document Excelerate Energy published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.