Golar LNG (GLNG)

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Sale of Shareholding in Avenir LNG Limited
Newsfilter· 2025-01-27 21:31
Transaction Details - Golar LNG Limited has entered into a share purchase agreement to sell all its shares in Avenir LNG Limited to Stolt-Nielsen Gas Ltd for approximately USD 40 million [1] - The transaction is expected to be completed during the first quarter of 2025, subject to the fulfilment of conditions under the share purchase agreement [1] Golar's Remaining Stake in HIGAS - Golar will retain a 25% shareholder position and continue as a debt provider to Higas Srl, the HIGAS LNG storage terminal in Sardinia [2] - As of the end of October 2024, the book value of HIGAS was USD 40.5 million (on a 100% basis), comprising USD 24.7 million in shareholder loans and USD 15.8 million in shareholders' equity [2] Strategic Rationale - The sale aligns with Golar's strategy to focus on expanding its market-leading FLNG (Floating Liquefied Natural Gas) position [3] - Golar's investment in Avenir LNG was no longer considered a core asset following the sale of Hygo Energy Transition Ltd in 2021 [3] - Golar played a key role in founding Avenir LNG, which has grown into one of the largest small-scale LNG shipping companies globally [3]
FLNG Gimi Received First Gas From the GTA Field
Newsfilter· 2025-01-21 12:50
Core Points - Golar LNG Limited announced that FLNG Gimi received feed gas from the bp operated FPSO on the Greater Tortue Ahmeyim project, marking the commencement of full commissioning [1] - The first LNG export cargo is expected in Q1 2025, with full Commercial Operations Date anticipated in Q2 2025, contingent on meeting all conditions [1] - The receipt of gas will lead to an upward adjustment to the Commissioning Rate under the commercial reset agreed in August 2024, triggering a 20-year Lease and Operate Agreement [2] - This agreement is expected to unlock approximately $3 billion of Adjusted EBITDA Backlog, which includes both capital and operating elements recognized in the balance sheet and income statement [2]
Why Is Golar LNG (GLNG) Up 24.8% Since Last Earnings Report?
ZACKS· 2024-12-12 17:36
Core Viewpoint - Golar LNG's recent performance has shown a 24.8% increase in share price since the last earnings report, outperforming the S&P 500, raising questions about the sustainability of this trend leading up to the next earnings release [1] Financial Performance - Golar LNG reported Q3 2024 earnings of 53 cents per share, exceeding the Zacks Consensus Estimate of 37 cents, although the earnings declined year over year [2] - Revenues for the quarter were $64.8 million, meeting the Zacks Consensus Estimate but reflecting a 4% decline year over year [3] - Adjusted EBITDA was $59 million, which represents a 21% decline year over year [4] Cash and Debt Position - The company ended Q3 2024 with cash and cash equivalents of $732.06 million, an increase from $527.59 million at the end of the previous quarter [4] - Golar LNG's share of contractual debt rose by 25% to $1.46 billion by the end of the reported quarter [5] Dividend and Share Buyback - The board approved a dividend of 25 cents per share for Q3 2024, scheduled for payment on or around December 2, 2024, to shareholders of record as of November 25, 2024 [5] - Of the $150 million share buyback program, $74.1 million remains available [5] Market Sentiment and Outlook - Estimates for Golar LNG have remained flat over the past month, indicating a lack of significant changes in market expectations [6] - The company currently holds a Zacks Rank of 3 (Hold), suggesting an expectation of an in-line return from the stock in the coming months [8] Investment Scores - Golar LNG has a subpar Growth Score of D, a Momentum Score of F, and a Value Score of F, resulting in an overall aggregate VGM Score of F, placing it in the fifth quintile for investment strategy [7]
Golar LNG (GLNG) - 2024 Q3 - Quarterly Report
2024-11-27 18:46
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of November 2024 Commission File Number: 000-50113 Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [ X ] Form 40-F [ ] INFORMATION CONTAINED IN THIS FORM 6-K REPORT Included is the Overview, Operating and Financial Review for the ...
Golar LNG (GLNG) - 2024 Q3 - Earnings Call Transcript
2024-11-12 16:24
Financial Data and Key Metrics Changes - Golar LNG ordered its third FLNG, a Mark II FLNG with an annual liquefaction capacity of 3.5 million tonnes per annum, representing a 70% increase in Golar's own liquefaction capacity [4] - The Mark II FLNG is expected to be delivered by 2027 and will be the first available FLNG for charter globally [4] Business Line Data and Key Metrics Changes - The existing FLNGs, particularly Hilli, continued to demonstrate market-leading operational performance during the quarter [5] Market Data and Key Metrics Changes - No specific market data or key metrics changes were provided in the available content Company Strategy and Development Direction and Industry Competition - The company is focusing on expanding its liquefaction capacity through the new Mark II FLNG, which is expected to enhance its competitive position in the market [4] Management's Comments on Operating Environment and Future Outlook - Management has indicated positive progress for the existing FLNGs and is optimistic about the operational performance moving forward [5] Other Important Information - The presentation included forward-looking statements, emphasizing the company's growth strategy and future projects [4] Q&A Session Summary - No specific questions and answers from the Q&A session were provided in the available content
Golar announces pricing of USD 300 million unsecured bond issue
GlobeNewswire News Room· 2024-09-05 20:01
Group 1 - Golar LNG Limited has successfully priced USD 300 million in senior unsecured bonds in the Nordic bond market, maturing in September 2029 with an interest rate of 7.75% per annum [1] - The net proceeds from the bond issue will be used for capital expenditure, refinancing of debt, and general corporate purposes [1] - An application will be made for the bonds to be listed on the Oslo Stock Exchange [1] Group 2 - DNB Markets and Pareto Securities acted as Global Coordinators and Joint Bookrunners, while Clarksons Securities and Fearnley Securities served as Joint Bookrunners in the bond issue [2] Group 3 - Golar LNG is a NASDAQ listed maritime LNG infrastructure company with a 75-year history, known for pioneering maritime LNG infrastructure including the world's first Floating LNG liquefaction terminal and Floating Storage and Regasification Unit projects [3] - The company is focused on FLNG and is the only proven provider of FLNG as a service, owning the world's largest fleet of FLNG units by annual liquefaction capacity [3] - Golar LNG has a market-leading operational track record in the industry [3]
Golar LNG (GLNG) Q2 Earnings, Revenues Lag Estimates, Down Y/Y
ZACKS· 2024-08-20 18:30
Golar LNG Limited (GLNG) Performance Summary - GLNG reported second-quarter 2024 earnings of 42 cents per share, missing the Zacks Consensus Estimate of 44 cents and declining year over year [1] - Revenues for the quarter were $63 million, below the Zacks Consensus Estimate of $67.4 million, also showing a year-over-year decline [1] - Adjusted EBITDA was $58.71 million, representing a 29% decrease year over year [1] Financial Position - As of the end of the second quarter 2024, GLNG had cash and cash equivalents of $527.59 million, down from $548 million at the end of the previous quarter [2] - The company's share of contractual debt increased by 2% to $1.19 billion [2] - The board approved a dividend of 25 cents per share for the second quarter 2024, payable on or around September 3, 2024, to shareholders of record on August 26, 2024 [2] Share Buyback and Market Performance - As of June 30, 2024, there were 104.0 million shares issued and outstanding, with $74.1 million remaining from the approved $150.0 million share buyback scheme [3] - GLNG's shares have gained 43.8% year to date, outperforming the industry average increase of 23.2% [4]
Golar LNG (GLNG) - 2024 Q2 - Quarterly Report
2024-08-16 17:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of August 2024 Commission File Number: 000-50113 GOLAR LNG LIMITED (Translation of registrant's name into English) 2nd Floor S.E. Pearman Building 9 Par-la-Ville Road Hamilton HM 11 Bermuda (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports u ...
Golar LNG (GLNG) - 2024 Q2 - Earnings Call Transcript
2024-08-15 14:16
Golar LNG Limited (NASDAQ:GLNG) Q2 2024 Earnings Conference Call August 15, 2024 8:00 AM ET Company Participants Karl Fredrik Staubo - CEO Eduardo Maranhao - CFO Conference Call Participants Chris Robertson - Deutsche Bank Ben Nolan - Stifel Craig Shere - Tuohy Brothers Liam Burke - B. Riley Financial Alexander Bidwell - Webber Research Advisory Operator Welcome to the Golar LNG Limited Q2 2024 Presentation. After the slide presentation by CEO, Karl Fredrik Staubo and CFO, Eduardo Maranhao, there will be a ...
Golar LNG (GLNG) Q2 Earnings and Revenues Lag Estimates
ZACKS· 2024-08-15 13:35
Golar LNG (GLNG) came out with quarterly earnings of $0.42 per share, missing the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -4.55%. A quarter ago, it was expected that this operator of carriers for natural gas shipping would post earnings of $0.44 per share when it actually produced earnings of $0.45, delivering a surprise of 2.27%. Over the ...