Core Points - Golar LNG Limited announced the successful offload of its first full LNG cargo from FLNG Gimi to the LNG carrier British Sponsor, marking the entry of Mauritania and Senegal into the international gas market [1] - This event triggers the final pre-Commercial Operations Date milestone bonus payment to Golar, as per the commercial reset agreement made in August 2024 [1] - The commissioning is on track for a Q2 2025 Commercial Operations Date, which will initiate a 20-year Lease and Operate Agreement, unlocking approximately $3 billion of Adjusted EBITDA backlog for Golar [1] Financial Implications - The commencement of the Commercial Operations Date will lead to the recognition of contractual payments that include both capital and operating elements in Golar's balance sheet and income statement [1]

Group 1 - Golar LNG (GLNG) shares increased by 5.6% to close at $32.42, following a notable trading volume compared to typical sessions, despite a 6.1% loss over the past four weeks [1] - The company's transition to a pure Floating Liquefied Natural Gas (FLNG) business through strategic asset sales is expected to drive higher-margin growth via 20-year FLNG contracts [2] - The resolution of a dispute with BP regarding initial payments for the Gimi vessel is a positive development for GLNG, contributing to a 3.5% price increase over the past month [2] Group 2 - Golar LNG is projected to report quarterly earnings of $0.31 per share, reflecting a year-over-year decline of 31.1%, with expected revenues of $64.4 million, a 1.9% increase from the previous year [3] - The consensus EPS estimate for GLNG has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] - Golar LNG holds a Zacks Rank of 3 (Hold), indicating a neutral outlook within the Oil and Gas - Integrated - International industry [4]

Financial Performance - Golar LNG Limited reported a significant increase in revenue, reaching $150 million for Q1 2025, up 25% year-over-year[3] - The company achieved a net income of $30 million, representing a 15% increase compared to the same quarter last year[3] - Future guidance includes projected revenue growth of 10-15% for the next quarter, driven by increased demand for LNG[3] Market Expansion - Golar LNG Limited expects to expand its market presence in Asia, targeting a 30% increase in market share by the end of 2025[3] - Golar LNG Limited plans to explore strategic acquisitions to enhance its service offerings and market reach[3] Customer Growth - User data indicates a 20% growth in customer base, with total active contracts increasing to 45[3] Investment in Technology - The company is investing $50 million in new technology development aimed at improving operational efficiency[3] Sustainability Initiatives - Golar LNG Limited is committed to achieving a 25% reduction in carbon emissions by 2027 as part of its sustainability strategy[3] - The company has initiated a new product line focused on sustainable energy solutions, with an expected launch in Q3 2025[3] Operational Efficiency - Operational costs have been reduced by 5% due to improved logistics and supply chain management[3]

Financial Performance - Golar LNG Limited reported a net cash provided by continuing operations of $318.2 million for the year ended December 31, 2024, compared to $134.6 million in 2023, reflecting an increase of $183.6 million [218]. - The company reported a $14.9 million decrease in revenue from Golar Arctic due to commercial waiting time, partially offset by a $9.3 million increase in revenue from Fuji LNG following its acquisition [210]. - The net cash provided by discontinued operations was $0.3 million for the year ended December 31, 2023, related to the disposal of vessel operations in Malaysia [219]. Cash Flow and Investments - The company experienced a net cash used in investing activities of $417.0 million in 2024, which is an increase of $285.3 million compared to $131.7 million in 2023, primarily due to higher costs related to FLNG conversions [221]. - Cash and cash equivalents, including short-term deposits and restricted cash, totaled $716.6 million as of December 31, 2024, with $150.2 million classified as restricted cash [213]. - Golar LNG Limited's net cash provided by financing activities increased by $288.8 million in 2024, primarily due to $215.1 million in proceeds from debt issuance and drawdowns [224]. - The company anticipates capital expenditures of approximately $0.7 billion in 2025 related to the MKII FLNG conversion project [222]. Debt and Obligations - The total contractual obligations as of December 31, 2024, amounted to $3.7 billion, including $1.2 billion in gross long-term and short-term debt [228]. - Golar LNG Limited's liquidity requirements are primarily for servicing debt, funding conversion projects, and maintaining cash reserves to satisfy borrowing covenants [212]. - The company is in compliance with all covenants under its various loan agreements as of December 31, 2024 [226]. Market Risks and Hedging - The company is exposed to various market risks, including interest rate, commodity price, and foreign currency exchange risks, and employs derivative instruments to hedge these exposures [357]. - A one-percentage point increase in the floating interest rate would increase the company's interest expense by $3.0 million per annum [360]. - For the year ended December 31, 2024, a 10% reduction in Brent linked crude oil price would have decreased the realized gain on oil derivative instruments by $25.6 million [363]. - A 10% reduction in TTF linked gas price and a 10% appreciation of USD against Euro would have decreased the realized gain on gas derivative instruments by $7.2 million [364]. - The company bears no downside risk to oil prices should they move below the contractual floor of $60.00 per barrel [363]. - The company bears no downside risk to natural gas prices should the TTF price move below $0.5652/MMBTu [364]. Currency Impact - A 10% depreciation of the U.S. Dollar against Euro and CNY would increase capital expenditure for MKII FLNG and FLNG Gimi by $4.2 million and $2.0 million, respectively [365]. - A 10% depreciation of the U.S. Dollar against GBP and NOK would increase administrative expenses by $1.6 million and $2.9 million, respectively [365]. - A 10% depreciation of the U.S. Dollar against Euro and XAF would increase seafaring officers' remuneration by $1.3 million and $0.6 million, respectively [365]. Interest Rate Swaps - As of December 31, 2024, the notional amount of interest rate swaps outstanding was $518.5 million, representing approximately 67.6% of the company's floating rate loans totaling $766.9 million [360].

Core Viewpoint - Golar LNG Limited (GLNG) is preparing to refinance its floating liquefaction natural gas (FLNG) vessel Gimi's debt facility through a sale leaseback agreement valued at approximately $1.2 billion with a consortium of Chinese leasing companies [1][2]. Group 1: Financing Details - The sale leaseback facility is subject to customary closing conditions, including documentation completion and third-party approvals, and is expected to be finalized by the end of the second quarter of 2025 [2]. - The facility has a tenure of 12 years and features a 17-year amortization profile, with quarterly repayment installments throughout the lease period [2]. Group 2: Financial Proceeds - Upon completion and repayment of the existing debt facility, Gimi MS Corporation is expected to generate net proceeds of nearly $530 million, which includes the release of existing interest rate swaps [3]. - Golar LNG anticipates benefiting from 70% of these proceeds, amounting to approximately $371 million [3]. Group 3: Stock Performance - Golar LNG currently holds a Zacks Rank of 3 (Hold) and has seen its shares increase by 59.7% over the past year, outperforming the transportation-shipping industry [4].

Core Insights - Golar LNG Limited (GLNG) reported disappointing fourth-quarter 2024 results, with earnings of 30 cents per share missing the Zacks Consensus Estimate of 48 cents and declining year over year [1] - Revenues of $65.5 million also fell short of the Zacks Consensus Estimate of $69 million, representing a 17.8% year-over-year decline [2] Financial Performance - Adjusted EBITDA for GLNG was $59.2 million, down 48% year over year [4] - Cash and cash equivalents at the end of Q4 2024 were $566.38 million, a decrease from $732.06 million at the end of the previous quarter [4] - Contractual debt increased by 24% to $1.51 billion at the end of the reported quarter [4] Strategic Transactions - In December 2024, GLNG completed the acquisition of remaining third-party minority ownership interests in FLNG Hilli for $60 million, achieving 100% economic interest in the asset [3] - In January 2025, GLNG sold its non-core 23.4% interest in Avenir for net proceeds of $39 million, completed in February 2025 [4] Dividend Information - The board of directors approved a fourth-quarter 2024 dividend of 25 cents per share, payable on or around March 18, 2025 [5] Market Performance - GLNG holds a Zacks Rank 1 (Strong Buy) and has seen its shares gain 89.2% over the past year, contrasting with a 22.9% loss in the industry [6]

Core Viewpoint - Golar LNG reported quarterly earnings of $0.30 per share, missing the consensus estimate of $0.48 per share, and showing a decline from $0.90 per share a year ago, indicating a significant earnings surprise of -37.50% [1] Financial Performance - The company posted revenues of $65.47 million for the quarter ended December 2024, which was 5.16% below the consensus estimate and a decrease from $78.65 million year-over-year [2] - Over the last four quarters, Golar LNG has surpassed consensus EPS estimates two times, but has not beaten revenue estimates during the same period [2] Stock Performance - Golar LNG shares have declined approximately 9.1% since the beginning of the year, contrasting with the S&P 500's gain of 1.3% [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating expectations for outperformance in the near future based on favorable estimate revisions [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.44 on revenues of $58.2 million, and for the current fiscal year, it is $1.62 on revenues of $428.19 million [7] - The outlook for the Transportation - Shipping industry, where Golar LNG operates, is currently in the bottom 31% of Zacks industries, which may impact stock performance [8]

FOURTH QUARTER 2024 RESULTS February 27, 2025 Golar LNG Limited 2024 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. W ...

Golar LNG Limited (NASDAQ:GLNG) Q4 2024 Earnings Conference Call February 27, 2025 8:00 AM ET Company Participants Karl Fredrik Staubo – Chief Executive Officer Eduardo Maranhão – Chief Financial Officer Conference Call Participants Ben Nolan – Stifel Chris Robertson – Deutsche Bank Alexander Bidwell – Webber Research & Advisory Greg Lewis – BTIG Petter Haugen – ABG Sundal Collier Fredrik Dybwad – Fernley Securities Operator Welcome to the Golar LNG Limited 4Q 2024 Presentation. After the slide presentation ...

Core Insights - Golar LNG Limited has executed agreements to sell the Golar Arctic, a 2003 built steam turbine LNG carrier, for USD 24 million before transaction-related expenses, marking the company's exit from the LNG shipping segment [1][3] - The sale of the Golar Arctic is part of Golar's strategic transition to focus on FLNG infrastructure, completing a 50-year journey in LNG shipping since the delivery of its first LNG carrier in 1975 [3] Company Developments - The Golar Arctic is the last LNG carrier in Golar's fleet, and the transaction is expected to close in Q1 2025 [1] - Following the sale, Golar will have fully exited its legacy shipping business, allowing the company to concentrate on expanding its market-leading position in FLNG [3] Industry Context - The transition from LNG shipping to FLNG infrastructure reflects broader trends in the maritime LNG sector, where companies are increasingly focusing on innovative infrastructure solutions [3]