| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | August 6, 2026 | 5/12 | 1 medium, 1 low flags | 0 | 0 | Call sheet → |
| Q1'26 | May 7, 2026 | 11/12 | 2 medium, 6 low flags | 5 | 0 | Call sheet → |
| Q4'25 | February 26, 2026 | 11/12 | 1 medium, 5 low flags | 5 | 0 | Call sheet → |
| Q3'25 | October 30, 2025 | 10/12 | 3 medium, 2 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | Deliver Stage 3 trains on schedule, with substantial completion in 2027 (Q1) Management still says “well ahead of the guaranteed date” but provides no firm date - still pending |
| Q1'26 | Delivered | Growing dividend by ~10% annually through 2030 (Q4 2025) Q1 dividend $0.555 per share, maintaining 10% annual growth trajectory |
| Q1'26 | Delivered | Addressing feed gas composition challenges (Q4 2025) Root causes identified, solutions deployed, driving 1M tonne production increase |
| Q1'26 | Pending | CCL expansion FERC approval in first half of 2026 (Q4 2025) Received scheduling notice, confirms H1 2026 timeline intact |
| Q1'26 | Pending | Line of sight to SPL expansion permits by end of 2026 (Q4 2025) On track, now budgeting LNTPs in 2026 ahead of early 2027 FID |
| Q1'26 | Exceeded | 2026 EBITDA guidance $6.75-7.25B (Q4 2025) Raised to $7.25-7.75B, previous high-end became new low-end |
| Q1'26 | Exceeded | 2026 production forecast of 51-53M tonnes (Q4 2025) Raised to 52-54M tonnes, +1M tonne increase from operational improvements |
| Q1'26 | Exceeded | Substantial completion of Trains 5, 6, and 7 in spring, summer, and fall respectively (Q4 2025) Train 5 achieved first LNG in Q1 (spring), Train 6 producing 'imminently' (ahead of summer target), both tracking weeks ahead of schedule |
| Q4'25 | Delivered | Stage 3 construction execution remaining on accelerated schedule Train 3 substantial completion achieved ahead of forecast, 95% total project complete |
| Q4'25 | Delivered | Efforts to mitigate feed gas-related challenges Reported positive results with improved maintenance in Q4, developing long-term solutions |
| Q4'25 | Exceeded | Continued progress on comprehensive capital allocation plan Completed $20B 2020 Vision plan ahead of schedule, deployed over $6B in 2025 |
| Q4'25 | Exceeded | Full year 2025 guidance of $6.6-7B EBITDA and $4.4-4.8B DCF Delivered $6.94B EBITDA and $5.3B DCF, both above high end of ranges |
| Q4'25 | Pending | Trains 5-7 substantial completion in spring, summer, fall respectively Timeline unchanged and Train 5 achieved first LNG this week ahead of spring target |
| Q4'25 | Exceeded | Train 4 expected to produce first LNG by end of year Delivered substantial completion by year-end vs just first LNG promised |
| Q3'25 | Exceeded | Stage 3 project execution on accelerated schedule 90%+ completion, Train 3 commissioning in 38 days vs 77 for Train 1 |
| Q3'25 | Delivered | Dividend growth ~10% annually Q3 dividend increased >10% to $2.22 annualized as promised |
| Q3'25 | Delivered | Share count reduction toward 200 million target Down to 215 million range from 220 million, accelerating pace |
| Q3'25 | Delivered | 2025 EBITDA guidance $6.5-7.0 billion Tightened to $6.6-7.0 billion, tracking well within range |
| Q3'25 | Pending | First three trains substantial completion by end of 2025 Train 3 achieved, Train 2 completed in Q3, on track for original promise |
| Q3'25 | Exceeded | Train 4 in commissioning by end of year (Q2 2025 call) Now expecting first LNG 'very soon' and substantial completion by year-end, ahead of original timeline |
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