Why Is Golar LNG (GLNG) Up 24.8% Since Last Earnings Report?

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]