Expand Energy beats quarterly profit estimates, expects minimal tariff impact

April 29 (Reuters) - Top U.S. natural gas producer Expand Energy EXE.O beat analysts' estimates for first-quarter profit on Tuesday, driven by higher natural gas prices and production, and signaled minimal near-term potential impact from tariffs.

Share were up about 1% at $108.50 in extended trading.

Average natural gas prices NGc1 have been on an upward trajectory over the past few quarters and touched a two-year high on March 10, supported by record flows to liquefied natural gas (LNG) export facilities and concerns over supply in the lead-up to the summer season.

Expand Energy's average realized price for natural gas during the quarter was up 23.2% year-over-year, at $3.51 per thousand cubic feet (Mcf), while production almost doubled to 6,254 million cubic feet per day (MMcfpd).

Expand Energy, formerly known as Chesapeake Energy, said in February it was on track to boost output by more than 5% in 2026 from levels expected in 2025 so long as market conditions warrant such a move.

U.S. President Donald Trump's tariffs on trading partners has heightened uncertainty in the natural gas industry on worries that a global trade war could curb global economic growth and crimp demand for energy.

However, the natural gas producer said it expects minimal near-term potential impact from tariffs on the back of favorable outlook for service pricing and added that long-term impact is largely dependent upon outcome and scale of the levies.

The Oklahoma City-based company, which acquired Southwestern for $7.4 billion to become the top U.S. independent natural gas producer, reported an adjusted profit of $2.02 per share for the quarter ended March 31, compared with analysts' average estimate of $1.88, according to data compiled by LSEG.