Top US natural gas producer Expand Energy surpassed Wall Street expectations for third-quarter profit on Tuesday, boosted by higher natural gas output.
U.S. natural gas consumption is expected to hit record highs, driven by LNG exports and power demand from AI data centers.
Shares of the company were up 1.5% in extended trading.
For the quarter ended September 30, the company’s natural gas production averaged about 7.54 billion cubic feet equivalent per day, up from about 7.33 Bcfe/d a year ago.
The company posted an adjusted profit of $1.46 for the quarter ended September 30, compared with analysts’ average estimate of $1.27, according to data compiled by LSEG.
(Reporting by Akshaya V in Bengaluru, additional reporting by Vallari Srivastava in Bengaluru; Editing by Shailesh Kuber)