Cheniere Energy Q1 Earnings Miss Estimates, Revenues Rise Y/Y

Financial Performance - Cheniere Energy reported a first-quarter 2025 adjusted profit of $1.57 per share, missing the Zacks Consensus Estimate of $2.81 and down from $2.13 per share in the year-ago quarter, attributed to increased operating costs and expenses [1] - Revenues totaled $5.4 billion, exceeding the Zacks Consensus Estimate of $4.4 billion and increasing by 28% from $4.3 billion in the prior year, driven by strong LNG shipments [2] - Consolidated adjusted EBITDA was $1.9 billion, up about 5.6% from the previous year, supported by higher total margins per metric million British thermal units of LNG delivered [5] Capital Allocation and Shareholder Returns - The company allocated over $1.3 billion in the first quarter of 2025 towards growth initiatives, strengthening its balance sheet, and returning value to shareholders [3] - Approximately 1.6 million shares of common stock were repurchased for around $350 million, and $300 million in consolidated long-term debt was repaid [3] - The quarterly dividend of 50 cents per share is scheduled to be paid on May 19, 2025 [3] Operational Highlights - Cheniere loaded 608 trillion British thermal units (TBtu) of LNG during the quarter, surpassing the consensus mark of 586 TBtu [2] - Distributable cash flow (DCF) was reported at $1.3 billion, with 168 cargoes shipped compared to 166 in the year-ago period [6] Cost and Balance Sheet - Total costs and expenses amounted to $4.5 billion for the first quarter, reflecting a 44.7% increase from the prior-year quarter [6] - As of March 31, 2025, Cheniere had approximately $2.5 billion in cash and cash equivalents, with net long-term debt of $22.5 billion and a debt-to-capitalization ratio of 69.1% [7] Project Developments - The first train of the CCL Stage 3 Project achieved substantial completion in March 2025, with the project being 82.5% complete as of the same date [4][14] - The CCL Midscale Trains 8 & 9 Project received authorization from the Federal Energy Regulatory Commission to site, construct, and operate the project [4][16] 2025 Guidance - Cheniere expects consolidated adjusted EBITDA in the range of $6.5 billion to $7 billion for 2025, with DCF anticipated between $4.1 billion and $4.6 billion [8]