Company Performance - Golar LNG Limited (GLNG) reported second-quarter 2025 earnings of 26 cents per share, missing the Zacks Consensus Estimate of 29 cents and declining year over year [1][8] - Revenues for the quarter were $75.7 million, surpassing the Zacks Consensus Estimate of $66.3 million and improving by 17% year over year [1][8] - Adjusted EBITDA for the quarter was $49.25 million, reflecting a decline of 16% year over year [3] Financial Position - As of June 30, 2025, Golar LNG had cash and cash equivalents of $783.42 million, an increase from $521.43 million at the end of the previous quarter [4] - The company's share of contractual debt rose by 71% year over year to $2.05 billion [4][8] - The board of directors approved a second-quarter 2025 dividend of 25 cents per share, payable on or around September 2, 2025 [4] Operational Developments - In June 2025, the FLNG Gimi achieved its Commercial Operations Date, marking the start of a 20-year lease term with BP [2] - On August 6, 2025, SESA reached a Final Investment Decision for the charter of Golar's 3.5 MTPA MKII FLNG, with completion anticipated by 2025 [3] Industry Comparison - Vista Energy S.A.B. de CV reported second-quarter 2025 adjusted earnings per share of 55 cents, missing estimates, while revenues increased to $610.5 million [6] - ExxonMobil reported second-quarter 2025 earnings per share of $1.64, beating estimates, but total revenues of $81.5 billion missed expectations [7]

Financial Data and Key Metrics Changes - Total operating revenues reached $75 million, with FLNG tariffs at $82 million, a significant increase due to Gimi's commercial operations date [34] - Total EBITDA for Q2 was $49 million, positively impacted by Gimi's COD, with a trailing twelve-month EBITDA of $208 million [34][35] - Net income for the quarter was $31 million, including a $30 million gain recognized upon Gimi's startup [35][36] - The company raised $575 million through convertible bonds and repurchased 2.5 million shares for approximately $103 million, strengthening liquidity to nearly $900 million [36][38] Business Line Data and Key Metrics Changes - The Hilli unit secured a 20-year redeployment charter in Argentina, adding $5.7 billion to the EBITDA backlog [12] - Gimi reached its commercial operations date in June, marking a significant milestone for the company [13] - Total EBITDA from FLNG operations was $57 million after project development expenses [37] Market Data and Key Metrics Changes - The global FLNG fleet consists of seven units on the water and four under construction, with Golar being the market leader in liquefaction capacity [5][6] - Increased interest from gas resource owners in FLNG solutions is noted, indicating a strengthening demand for monetizing gas [6] Company Strategy and Development Direction - Golar plans to continue its growth trajectory by adding additional FLNG units, with a focus on securing long-term contracts before ordering new units [8][9] - The company aims to maintain a strategy of having only one open FLNG unit at a time, ensuring financial flexibility for growth [8][9] - The company is exploring opportunities for a fourth FLNG unit, with discussions ongoing regarding potential contracts in various regions [70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the FLNG market's growth potential, drawing parallels to the FPSO industry's development [31] - The company anticipates significant upside potential from commodity exposure linked to its contracts, particularly with a breakeven profit share mechanism [61][62] - Management emphasized the importance of running the business effectively to reflect its value in the market [66] Other Important Information - The company has a total EBITDA backlog of $17 billion, which is expected to grow significantly with the addition of new contracts and units [42][46] - A dividend of $0.25 per share was declared, with payment scheduled for early September [36] Q&A Session Summary Question: What skills do the new board members bring? - The new board members include individuals with strong backgrounds in accounting, financing, and energy infrastructure, expected to enhance Golar's commercial discussions [50][52] Question: Is there a possibility of swapping Gimi for a Mark III unit? - All options are being evaluated, and a Mark III could either replace Gimi or be an addition, depending on infrastructure needs [54] Question: How does the company evaluate its backlog valuation? - The company sees a fixed EBITDA of around $800 million per year and believes the unique commodity exposure adds significant value [60][61] Question: What are the commercial prospects for a fourth unit? - The company sees opportunities for both Mark I and II in West Africa, while larger projects may require a Mark III [70] Question: Are there economies of scale with larger units? - While CapEx per ton may not differ significantly, operating costs show economies of scale for larger units [81] Question: Will the company divest Gimi? - The Gimi contract is seen as a proof of concept, and there are no current plans to divest it [92]

Golar LNG (GLNG) Q2 2025 Earnings Call August 14, 2025 08:00 AM ET Speaker0Welcome to the Golar LNG Limited Second Quarter twenty twenty five Presentation Conference Call and Webcast. After the slide presentation, the CEO, Carl Friedrich Staubo and CFO, Eduardo Maranau, there will be a question and answer session. I I would now like to pass over to Karl Fredrik Staubo. Karl, please go ahead.Speaker1Thank you, operator, and welcome to Golar's Q2 twenty twenty five earnings results presentation. My name is Ka ...

Group 1 - Golar LNG reported quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.29 per share, and down from $0.42 per share a year ago, representing an earnings surprise of -10.34% [1] - The company posted revenues of $75.67 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 14.20%, compared to year-ago revenues of $62.98 million [2] - Golar LNG shares have lost about 5% since the beginning of the year, while the S&P 500 has gained 10% [3] Group 2 - The earnings outlook for Golar LNG is uncertain, with current consensus EPS estimates of $0.55 on $121.38 million in revenues for the coming quarter and $1.47 on $375.67 million in revenues for the current fiscal year [7] - The Zacks Industry Rank for Oil and Gas - Integrated - International is currently in the bottom 24% of over 250 Zacks industries, indicating potential challenges for the sector [8] - New Fortress Energy, another company in the same industry, is expected to report a quarterly loss of $0.29 per share, with revenues projected to be $686.21 million, up 60.3% from the year-ago quarter [9]

SECOND QUARTER 2025 RESULTS August 14, 2025 Golar LNG Limited 2025 I 1 Forward looking statements This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management's current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Word ...

Core Insights - Golar LNG Limited has secured a 20-year charter agreement for the FLNG Hilli in Argentina, generating a net charter hire of $285 million per year, totaling $5.7 billion over the contract term [2][6][7] - The company reported a Q2 2025 net income of $16 million and an Adjusted EBITDA of $49 million, with a total cash position of $891 million [6][20][27] - Golar's share of contractual debt as of June 30, 2025, is approximately $2.05 billion, reflecting a significant increase from the previous year [20][28][38] Financial Performance - The company experienced a 13% decrease in net income year-over-year for Q2 2025, with total operating revenues increasing by 17% [20][21] - Adjusted EBITDA backlog increased by $13.7 billion, with significant upside potential from commodity-linked tariffs [6][11] - The company declared a dividend of $0.25 per share for Q2 2025, with a total of 102.3 million shares outstanding [18][20] Operational Developments - The FLNG Gimi achieved Commercial Operations Date (COD) in June 2025, with Golar owning 70% of the asset and an expected net earnings backlog of approximately $3 billion [4][6] - The MKII FLNG conversion project is on schedule, with $0.8 billion spent to date, and is expected to be delivered in Q4 2027 [5][8] - Golar is exploring additional FLNG growth units and has engaged with three prospective shipyards for future projects [12][13] Market Position and Strategy - Golar is positioned as a leading provider of FLNG solutions, capitalizing on the increasing demand for flexible LNG export options [13][14] - The company aims to optimize asset-level debt and secure attractive financing for future FLNG projects [3][5] - Golar's 10% ownership in Southern Energy S.A. (SESA) provides additional commodity exposure, equating to approximately $28 million in annual commodity exposure for every $1/MMBtu change in achieved FOB prices [10][11]

Core Viewpoint - Golar LNG Limited announces the appointment of Mr. Stephen J. Schaefer to its Board of Directors effective August 1, 2025, highlighting his extensive experience in the natural gas and electricity markets [1][3]. Company Summary - Mr. Schaefer has been involved in the natural gas and electricity sectors since 1993 and currently serves as Chairman of Talen Energy Corporation and is a board member of GenOn Energy [2]. - His previous roles include Chairman of GenOn Energy and Texgen Power LLC, and board member for Homer City Holdings LLC and Element Markets LLC [2]. - Prior to retirement in 2015, Mr. Schaefer was a Partner at Riverstone Holdings, focusing on energy investments, and was a Managing Director at Huron Consulting Group, where he founded its Energy Practice [2]. - From 1998 to 2003, he served as Managing Director and Vice President of Duke Energy North America, overseeing mergers and acquisitions [2]. - Mr. Schaefer is a Chartered Financial Analyst and holds a B.S. in Finance and Accounting from Northeastern University [2]. Industry Insight - The appointment of Mr. Schaefer is expected to enhance Golar's growth ambitions due to his deep expertise in global energy markets and strategic vision [3]. - The company anticipates valuable insights and leadership from Mr. Schaefer, which will be instrumental in advancing its objectives [3].

Core Viewpoint - Golar LNG Limited has announced the pricing of $500 million in 2.75% Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $75 million, expected to close on June 30, 2025 [1][5]. Group 1: Notes Details - The Notes will bear interest at 2.75% per annum, payable semi-annually starting December 15, 2025, and maturing on December 15, 2030 [2]. - The initial conversion rate is set at 17.3834 common shares per $1,000 principal amount, equating to an initial conversion price of approximately $57.53 per share, representing a 40% premium over the average share price of $41.09 on June 25, 2025 [2]. - The Notes are redeemable at the company's option starting December 20, 2028, if the common shares' price exceeds 130% of the conversion price for a specified period [3]. Group 2: Fundamental Change and Use of Proceeds - In the event of a fundamental change, holders can require the company to purchase the Notes at a price equal to 100% of the principal amount plus accrued interest [4]. - The net proceeds from the sale of the Notes will be used to repurchase 2.5 million common shares and for general corporate purposes, including potential growth investments and repaying debt [5].

Core Viewpoint - Golar LNG Limited plans to offer $500 million in Convertible Senior Notes due 2030, with an option for an additional $75 million, to fund share repurchases and general corporate purposes [1][4]. Group 1: Offering Details - The offering will be made to qualified institutional buyers under Rule 144A of the Securities Act [1]. - The Notes will be senior, unsecured obligations, maturing on December 15, 2030, and will pay interest semiannually [3]. - The Company intends to use the net proceeds to repurchase up to 2.5 million common shares and for various corporate purposes, including growth investments and debt repayment [4]. Group 2: Interest from Directors - Certain directors and officers of the Company have expressed interest in purchasing common shares from investors in the offering [2]. - Entities controlled by or affiliated with the Company's directors have indicated interest in purchasing the Notes at the initial offering price [2]. Group 3: Regulatory Information - The Notes and shares issuable upon conversion have not been registered under the Securities Act and may not be offered or sold without registration or an exemption [6]. - This announcement does not constitute an offer to sell or a solicitation to buy the Notes [5].

Group 1 - The article highlights the first coverage of an infrastructure-focused energy player, presenting it as a distinctive and attractive investment opportunity [1] - The identification of the company was linked to a recent cooperation announcement between YPF and Eni, indicating potential strategic partnerships in the energy sector [1] Group 2 - The analysis is conducted by buy-side hedge professionals who focus on fundamental, income-oriented, long-term analysis across various sectors globally [1]