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Golar LNG Limited Interim results for the period ended March 31 2024
Newsfilter· 2024-05-28 11:02
Highlights and subsequent events Golar LNG Limited ("Golar" or "the Company") reports Q1 2024 ("Q1" or "the quarter") Net income attributable to Golar of $55 million inclusive of $6 million of non-cash items1, and Adjusted EBITDA1 of $64 million. FLNG Hilli maintained 100% economic uptime and market leading operational track record. FLNG Gimi on standby day rate ready to commence operations for BP. Framework Agreement announced in our Q4 2023 earnings report now progressed to detailed contractual negotiatio ...
Golar releases its 2023 Environmental, Social and Governance report
Newsfilter· 2024-05-28 08:53
Core Insights - Golar LNG Limited has released its 2023 Environmental, Social and Governance (ESG) report, highlighting its commitment to advancing the global energy transition towards a lower carbon future [1] - The report emphasizes Golar's technology and business model, particularly its flagship Floating Liquefied Natural Gas (FLNG) business and the small-scale Flare to Gas (F2X) initiative, which aims to capture and monetize flare gas onshore [1] Summary by Categories Environmental Initiatives - Golar's FLNG business and F2X initiative are positioned as key components in supporting the transition to a lower carbon future [1] Social Impact - The report outlines how Golar's operations benefit the communities in which it operates, indicating a focus on social responsibility alongside environmental goals [1] Governance - The 2023 ESG report is part of Golar's commitment to transparency and accountability in its business practices [2]
Golar releases its 2023 Environmental, Social and Governance report
globenewswire.com· 2024-05-28 08:53
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended). 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. Words such as "may," "could," "can", "should," "would," "expect," "plan," "anticipate," "intend," "forecast," "believe," "estimate," "predict," "propose," "potential," "continue," or the negative of ...
Will Golar LNG (GLNG) Beat Estimates Again in Its Next Earnings Report?
Zacks Investment Research· 2024-05-06 17:11
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Golar LNG (GLNG) , which belongs to the Zacks Transportation - Shipping industry, could be a great candidate to consider.When looking at the last two reports, this operator of carriers for natural gas shipping has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 45%, on average, in the last two quarters.For ...
Golar LNG Limited – Q1 2024 results presentation
Newsfilter· 2024-04-25 18:41
Golar LNG's 1st Quarter 2024 results will be released before the NASDAQ opens on Tuesday, May 28, 2024. In connection with this a webcast presentation will be held at 1:00 P.M (London Time) on Tuesday May 28, 2024. The presentation will be available to download from the Investor Relations section at www.golarlng.com We recommend that participants join the conference call via the listen-only live webcast link provided. Sell-side analysts interested in raising a question during the Q&A session that will immed ...
Golar LNG Limited (GLNG): Strong Industry, Solid Earnings Estimate Revisions
Zacks Investment Research· 2024-04-12 18:56
One stock that might be an intriguing choice for investors right now is Golar LNG Limited (GLNG) . This is because this security in the Transportation - Shipping space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the ...
Golar LNG (GLNG) - 2023 Q4 - Annual Report
2024-03-28 21:02
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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...
Golar LNG (GLNG) - 2023 Q4 - Earnings Call Presentation
2024-02-29 12:50
Golar LNG Limited 2024 I 15 1) See the appendix for definition and reconciliation of the non-GAAP measures 2) Hilli Distributable Adjusted EBITDA is based on Hilli Adjusted EBITDA less Day 1 gain, amortization of deferred commissioning period revenue and accrued overproduction for the period. See appendix. Golar's pro rata share is based on 94.6% of T1&T2, 89.1% oil-indexed & 89.4% of T3 incremental results from January 1, 2023 (44.6% of T1&T2, 89.1% oil-indexed & 86.9% of T3 incremental results before Q1 2 ...
Golar LNG (GLNG) - 2023 Q3 - Quarterly Report
2023-11-21 16:59
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 2023 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 ...
Golar LNG (GLNG) - 2023 Q3 - Earnings Call Transcript
2023-11-21 16:02
Financial Data and Key Metrics Changes - Total operating revenues for Q3 2023 amounted to $67 million, with total FLNG tariffs reaching $95 million [12] - Net income for the quarter was $114 million, a significant improvement compared to Q2, including $39 million in non-cash items [13] - Adjusted EBITDA came in at $75 million, slightly down from Q2, but expected to improve in Q4 due to higher Brent and TTF prices [70][72] - Current liquidity position is close to $1 billion, supporting growth ambitions and shareholder returns [13][73] Business Line Data and Key Metrics Changes - Hilli delivered its 100th cargo in October 2023, continuing to demonstrate strong operational performance [5][91] - Gimi is expected to transition from CapEx to cash flow with operations starting in 2024, contributing to increased shareholder returns [9][17] - Hilli generated $73 million in Q3, a 14% increase year-on-year [98] Market Data and Key Metrics Changes - Golar LNG is positioned as the only provider of FLNG as a service, with a focus on expanding African gas exports due to lower shipping costs compared to US projects [6][7] - The company anticipates a positive impact from higher oil and gas prices driving increased tariffs for the remainder of 2023 [14] Company Strategy and Development Direction - Golar LNG aims to target integrated projects that align FLNG economics with upstream partners, enhancing exposure to LNG offtake prices [64] - The company is actively pursuing re-chartering opportunities for Hilli, with detailed discussions ongoing for three different projects [88] - Golar is committed to FLNG growth, with plans for Mark II and Mark III designs to increase liquefaction capacity [58] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing increased interest in re-chartering Hilli and the potential for higher capacity utilization and improved economics in new contracts [47][132] - The commissioning period for Gimi is targeted to take six months, with efforts to reduce this timeframe [45][78] - Management highlighted the importance of maintaining a balance between shareholder returns and funding growth projects [115] Other Important Information - The company declared a dividend of $0.25 per share for the quarter and continued its share buyback program [65][101] - Golar finalized the sale of the LNG carrier Gandria for a net consideration of $15 million [92] Q&A Session Summary Question: What is the expected revenue and cash flow during the commissioning period for Gimi? - Management indicated that operating expenses would be passed through to customers during the commissioning phase, allowing for some revenue realization [109] Question: How does the company view the balance between dividends and buybacks? - Management believes that operating cash flow can be returned to shareholders through a combination of buybacks and dividends, with a focus on sustainable dividends [115] Question: What are the expected CapEx requirements for the Mark II project? - Management stated that the total projected CapEx for Mark II would be around $2 billion, with significant liquidity available to support this [115][131] Question: What is the timeline for Gimi's arrival and commissioning? - Gimi is expected to arrive at the GTA hub around late December, with a commissioning period of approximately six months [30][66] Question: What are the prospects for re-chartering Hilli? - Management is in detailed discussions for three different re-chartering opportunities, with expectations for higher capacity utilization and improved economics [88][132]