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Houston based Cheniere Energy  reported higher than expected third quarter earnings Thursday. $LNG gained from higher LNG revenue, and the natural gas company raised guidance for global demand.


Cheniere LNG

Cheniere Energy, Inc. NYSEAMERICAN: LNG Reported Earnings Before Open THursday

$0.26 Beat $0.24 EPS and $1.82 billion Beat $1.50 billion forecast in revenue 

Earnings

Cheniere Energy Inc. (LNG) on Thursday reported third-quarter net income of $65 million, after reporting a loss in the same period a year earlier. On a per-share basis $LNG had profit of 26 cents beating expectations of 24 cents per share.  Revenue of $1.82 billion was well ahead of an expected $1.5 billion. 

Last quarter Cheniere Energy reported a net loss of $18 million, or $0.07 per share (basic and diluted), for the three months ended June 30, 2018, compared to a net loss of $285 million, or $1.23 per share (basic and diluted), for the comparable 2017 period. $LNG posted revenue of $1.54 billion short of Street forecasts of $1.61 billion. EPS also fell short with estimates of seven analysts looking for earnings of 32 cents per share.

Cheniere Energy, Inc. NYSEAMERICAN: LNG

Market Reaction - Pre Market $63.85 ▲ $1.77 (+2.85%)

Highlights

  • Cheniere exported 65 cargoes of LNG during the three months, up from 44 in the year-earlier quarter.
  • As of October 31, 2018, more than 215 cargoes have been produced, loaded, and exported from the SPL Project year to date.
  • To date, more than 475 cumulative LNG cargoes have been exported from the SPL Project, with deliveries to 29 countries and regions worldwide.
  • In August 2018, feed gas was introduced to Train 1 of the CCL Project (defined below) as part of the commissioning process.
  • In September 2018, feed gas was introduced to Train 5 of the SPL Project as part of the commissioning process, and first LNG production from Train 5 occurred in October 2018.
  • Financial For the nine months ended September 30, 2018, we achieved Consolidated Adjusted EBITDA of over $2.0 billion and Distributable Cash Flow of approximately $470 million.

Outlook

  • Cheniere raised its guidance for adjusted earnings to between $2.45 billion and $2.55 billion for 2018 overall, from $2.30 billion to $2.50 billion previously.
  • For 2019, the company expects adjusted earnings of $2.90 billion to $3.20 billion.

"In September 2018, we closed the previously announced merger of Cheniere Energy Partners LP Holdings, LLC (“Cheniere Partners Holdings”) with our wholly owned subsidiary. As a result of the merger, all of the publicly-held shares of Cheniere Partners Holdings not owned by us were canceled and shareholders received 0.4750 shares of our common stock for each publicly-held share of Cheniere Partners Holdings."

 

Cheniere Energy Q2 Earnings Recap

Earnings

Cheniere Energy reported a net loss of $18 million, or $0.07 per share (basic and diluted), for the three months ended June 30, 2018, compared to a net loss of $285 million, or $1.23 per share (basic and diluted), for the comparable 2017 period. $LNG posted revenue of $1.54 billion short of Street forecasts of $1.61 billion. EPS also fell short with estimates of seven analysts looking for earnings of 32 cents per share.

Cheniere Energy, Inc. NYSEAMERICAN: LNG

Market Reaction - After hours $60.90 +$0.50 +(0.83%)

Highlights

“The second quarter was highlighted by the achievement of a positive FID on Train 3 at the CCL Project, which reinforces our position as the leader in U.S. LNG. We continue to see significant opportunities in the market today, and we are leveraging our world-class LNG platform to deliver on our growth plans.”

The decrease in net loss was primarily due to increased income from operations as a result of additional Trains in operation at the SPL Project, increased derivative gain, decreased loss on modification or extinguishment of debt, and decreased net income attributable to non-controlling interest, partially offset by increased interest expense, net of amounts capitalized.

Cheniere Q2 Sabine pass

Earnings and Guidance

 Cheniere Q2 Earnings

Cheniere Q2 Trains

About Cheniere

Cheniere Energy, Inc., a Houston-based energy company primarily engaged in LNG-related businesses, owns and operates the Sabine Pass LNG terminal in Louisiana. Directly and through its subsidiary, Cheniere Energy Partners, L.P., Cheniere is developing, constructing, and operating liquefaction projects near Corpus Christi, Texas and at the Sabine Pass LNG terminal, respectively. Cheniere is also exploring a limited number of opportunities directly related to its existing LNG business.

Source: Cheniere

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