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Golar LNG (GLNG) - 2021 Q1 - Earnings Call Transcript
2021-05-20 18:13
Golar LNG Limited (NASDAQ:GLNG) Q1 2021 Results Conference Call May 20, 2021 10:00 AM ET Company Participants | --- | |-------------------------------------------------| | | | | | Karl Staubo - CEO Eduardo Maranhão - CFO | | Conference Call Participants | | Randy Giveans - Jefferies | | James Yoon - Citi Mike Webber - Webber Research | | Omar Nokta - Clarksons | | | | Sean Morgan - Evercore | | Ben Nolan - Stifel | | Greg Lewis - BTIG Liam Burke - B. Riley | Operator Good day and thank you for standing by. ...
Golar LNG (GLNG) - 2020 Q4 - Annual Report
2021-04-22 10:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF ...
Golar LNG (GLNG) - 2020 Q3 - Earnings Call Transcript
2020-11-30 18:54
Golar LNG Limited (NASDAQ:GLNG) Q3 2020 Earnings Conference Call November 20, 2020 10:00 AM ET Company Participants Iain Ross - CEO Karl Fredrik Staubo - CFO Eduardo Maranhão - CFO, Hygo Tor Olav Trøim - Chairman of Golar LNG and Hygo Stuart Buchanan - Head, IR Conference Call Participants Ben Nolan - Stifel Nicolaus Mike Webber - Webber Research Sean Morgan - Evercore ISI Randy Giveans - Jefferies Craig Shere - Tuohy Brothers Ken Hoexter - Bank of America Merrill Lynch Greg Lewis - BTIG Operator Ladies and ...
Golar LNG (GLNG) - 2020 Q3 - Earnings Call Presentation
2020-11-30 14:23
Golar LNG © Golar LNG Limited Third Quarter 2020 Results November 30, 2020 Solid Results, Fundamentals Continue to Improve 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 occu ...
Golar LNG (GLNG) - 2020 Q2 - Earnings Call Transcript
2020-08-13 22:07
Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA of $67 million on revenue of $102 million for Q2 2020, driven by solid FLNG performance and better seasonal results in shipping [3][5] - Time charter earnings increased to $45,000 per day, representing an 88% rise over the same period last year [5] - The company experienced a net loss of $156 million, primarily due to a $135.9 million impairment on shares in Golar Partners [11][12] Business Line Data and Key Metrics Changes - FLNG operations maintained 100% commercial uptime with a stable EBITDA generation of $41 million [12] - Shipping revenues were $48 million, down due to typical seasonality but improved compared to Q2 2019 [12] - Golar Power received full capacity payments equating to $19 million in revenue, less operating costs [5] Market Data and Key Metrics Changes - The second quarter saw a decline in TFDE spot rates to around $30,000 per day, attributed to seasonal LNG demand decline and lower global economic activity due to COVID-19 [23] - The company expects Q3 TCE to be $35,000 per day, with lower LNG prices stimulating demand as a cleaner fuel alternative [26] Company Strategy and Development Direction - The company is focusing on derisking shipping and building backlog while progressing discussions for potential expansion and extension of FLNG operations [43] - Golar Power is advancing small-scale distribution projects in Brazil, with a significant MOU signed with Norsk Hydro to deliver gas to the Alunorte Alumina refinery [33][34] - The company aims to simplify its structure into four stand-alone legs: FSRU, FLNG, shipping, and Golar Power [56] Management's Comments on Operating Environment and Future Outlook - Management noted that the pace of conversations regarding FLNG projects remains steady despite market turmoil, with ongoing dialogues with potential customers [68] - The company anticipates that lower LNG prices will lead to increased demand for liquefaction and shipping in the future [27] - Management expressed confidence in achieving sufficient liquidity and cash flow for the remainder of 2020 through refinancing and operational cash generation [21] Other Important Information - The company has committed to refinancing a $150 million bilateral loan due in November 2020 and a $30 million outstanding margin loan due in August/September 2020 [18] - The company is exploring international opportunities for replicating its Brazilian model, particularly in Southeast Asia and West Africa [59] Q&A Session Summary Question: What are the strategic options for the company? - Management indicated that the Board has approved the examination of a range of strategic options, with a focus on simplifying the group into four stand-alone legs [54][56] Question: How does the company plan to replicate its success in Brazil in other regions? - Management highlighted the importance of partnering with experienced local players and identified Southeast Asia and West Africa as potential areas for development [59] Question: What are the CapEx requirements and cash flow generation potential for Golar Power? - Management stated that detailed CapEx figures will be announced upon taking FID on certain projects, but emphasized that merchant power generation will not require additional CapEx [64][65] Question: What is the status of FLNG projects and discussions with potential customers? - Management described the pace of conversations as steady, with ongoing dialogues despite low LNG prices, and expressed confidence in the competitiveness of their liquefaction projects [68][70] Question: What are the hurdles for converting MOUs into contracts? - Management noted that the final investment decision for Barcarena is contingent on obtaining necessary permits and regulatory approvals, while small-scale contracts are progressing with various customers [80]
Golar LNG (GLNG) - 2020 Q2 - Earnings Call Presentation
2020-08-13 17:40
Golar LNG © Golar LNG Limited Second Quarter 2020 Results August 13, 2020 Delivering on our commitments 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 ...
Golar LNG (GLNG) - 2020 Q1 - Earnings Call Transcript
2020-05-29 04:22
Golar LNG Limited (NASDAQ:GLNG) Q1 2020 Earnings Conference Call May 28, 2020 10:00 AM ET Company Participants Iain Ross – Chief Executive Officer Callum Mitchell-Thomson – Chief Financial Officer Conference Call Participants Ken Hoexter – BofA Merrill Lynch Randy Giveans – Jefferies Michael Webber – Webber Research & Advisory James Monigan – Citi Craig Shere – Tuohy Brothers Investment Research Greg Lewis – BTIG Jason Gabelman – Cowen and Company Liam Burke – B. Riley FBR Iain Ross Thank you. Good morning, ...
Golar LNG (GLNG) - 2020 Q1 - Earnings Call Presentation
2020-05-28 14:10
Golar LNG © Golar LNG Limited First Quarter 2020 Results May 28, 2020 Operations and cash-flow generation remain resilient 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 occu ...
Golar LNG (GLNG) - 2019 Q4 - Annual Report
2020-04-30 19:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) | PART I | | PAGE | | --- | --- | --- | | ITEM 1. | IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS | 1 | | ITEM 2. | OFFER STATISTICS AND EXPECTED TIMETABLE | 1 | | ITEM 3. | KEY INFORMATION | 1 | | ITEM 4. | INFORMATION ON THE COMPANY | 31 | | ITEM 4A. | UNRESOLVED STAFF COMMENTS | 49 | | ITEM 5. | OPERATING AND FINANCIAL REVIEW AND PROSPECTS | 50 | | ITEM 6. | DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES | 73 | | ITEM ...
Golar LNG (GLNG) - 2018 Q4 - Annual Report
2019-03-29 15:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) [ ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR [ ] SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR ...