Cheniere Partners Q2 Earnings Miss Estimates, Revenues Beat

Core Insights - Cheniere Energy Partners, L.P. (CQP) reported second-quarter 2025 earnings per unit of 91 cents, missing the Zacks Consensus Estimate of 96 cents and declining from 95 cents in the same quarter last year [1][9] - Total revenues for the quarter reached $2.5 billion, an increase from $1.9 billion year-over-year, and surpassed the Zacks Consensus Estimate of $2.4 billion [1][9] Financial Performance - The decline in quarterly earnings was attributed to lower LNG volumes loaded and increased total operating costs and expenses [2] - CQP sent 98 cargos in the second quarter, a 5% decrease from 103 cargos in the previous year, and the total LNG volume was 351 trillion British thermal units (TBtu), down from 372 TBtu year-over-year [3] - Adjusted EBITDA for the quarter was $726 million, a 13% decrease from $832 million in the prior year, primarily due to planned maintenance activities leading to higher operating expenses and lower recognized volumes [4] - The cost of sales for the quarter was $1.2 billion, up from $661 million in the same period last year, while total operating costs and expenses rose to $1.74 billion from $1.13 billion year-over-year [5] Balance Sheet - As of June 30, 2025, CQP had $108 million in cash and cash equivalents and a net long-term debt of $14.2 billion [6] Outlook - The company maintained its 2025 full-year distribution guidance, expecting to distribute between $3.25 and $3.35 per common unit, with a base distribution of $3.10 [7] Market Position - CQP currently holds a Zacks Rank 3 (Hold), while other energy sector stocks like Antero Midstream Corporation, Delek Logistics Partners, LP, and Enbridge Inc. have better rankings [8]