Updated version 1 - Quarterly profits of natural gas producer Expand Energy exceed market expectations

The full text has been supplemented with details and background information.

Reuters, October 27 - Expand Energy (EXE.O), the largest natural gas producer in the United States, reported third-quarter profits on Tuesday that exceeded Wall Street expectations, mainly thanks to an increase in natural gas production.

Driven by liquefied natural gas (LNG) exports and electricity demand from artificial intelligence data centers, U.S. natural gas consumption is expected to reach a historic high.

The stock rose 1.5% in after-hours trading.

For the quarter ended September 30, the company’s average daily natural gas output was about 7.54 billion cubic feet equivalent, up from around 7.33 billion cubic feet equivalent a year earlier.

According to data compiled by the London Stock Exchange Group (LSEG), the company’s adjusted earnings per share for the quarter ended September 30 were $1.46, higher than the analyst average estimate of $1.27.

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