GOLAR LNG Reports Earnings Results for FY2023 Q1 as of March 31 2023

🌥️Earnings Overview

On May 30 2023, GOLAR LNG ($NASDAQ:GLNG) released their earnings results for Q1 of Fiscal Year 2023, ending March 31 2023. The company reported total revenue of USD 74.0 million, a 7.2% decrease from the same quarter in the prior year. Net income was USD -101.9 million, a significantly stark contrast to the 345.2 million profit from the same period in FY2022.

Price History

GOLAR LNG recently reported its earnings results for the first quarter of its fiscal year 2023, ending on March 31, 2023. On Tuesday, the stock opened at $22.0 and closed at $21.4 which marked a 4.2% decrease from the previous day’s closing price of $22.4. This was a significant drop for the company, yet investors were still eager to see what the financial results would reveal.

Overall, GOLAR LNG had a successful first quarter of its fiscal year 2023, delivering strong financial results and establishing itself as a leading provider of liquefied natural gas. Although their stock price has gone down, investors remain confident in GOLAR LNG’s performance and are looking forward to the continued success of the company in the coming quarters. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Golar Lng. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Golar Lng. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Golar Lng. More…

Key Ratios Snapshot

Some of the financial key ratios for Golar Lng are shown below. More…

Analysis

At GoodWhale, we provide comprehensive analysis of GOLAR LNG and its fundamentals. Our Star Chart shows that GOLAR LNG is strong in asset, medium in profitability and weak in dividend and growth. Additionally, its intermediate health score of 6/10 indicates that it may have a good capacity to sustain future operations in times of crisis. GOLAR LNG is classified as an ‘elephant’, which means it has a lot of assets after deducting off liabilities. These characteristics make GOLAR LNG an attractive investment option for value investors. Such investors are typically looking for undervalued companies that have the potential to earn profits in the long run. They tend to invest in large, well-established companies that have strong balance sheets and reliable cash flows. GOLAR LNG meets these criteria, making it an ideal target for such investors. More…

Peers

The competition between Golar LNG Ltd and its competitors is fierce. Each company is vying for a share of the market and customers. They all have different strengths and weaknesses, but Golar LNG Ltd has the edge.

– Fluxys Belgium SA ($LTS:0Q7U)

Fluxys Belgium SA is a leading gas infrastructure company in Belgium. The company has a market capitalization of 2.23 billion as of 2022 and a return on equity of 14.4%. Fluxys Belgium SA owns and operates a gas network of over 4,000 kilometers in Belgium, including the Zeebrugge LNG terminal. The company also owns and operates gas pipelines in France and the Netherlands.

– Genesis Energy LP ($NYSE:GEL)

Genesis Energy LP is a publicly traded limited partnership that engages in the midstream energy business in the United States. The company owns and operates a fleet of crude oil and refined product barges, pipelines, railcars, and trucks. It also owns and operates terminal facilities and a refinery. The company was founded in 1985 and is headquartered in Houston, Texas.

– EnLink Midstream LLC ($NYSE:ENLC)

EnLink Midstream LLC is a company that owns, operates, and develops midstream energy infrastructure in the United States. The company has a market cap of $5.72 billion as of 2022 and a return on equity of 26.4%. EnLink Midstream provides gathering, processing, transportation, and storage services to oil and gas producers in the United States. The company was founded in 2014 and is headquartered in Dallas, Texas.

Summary

Golar LNG reported their Q1 results for FY2023 as of March 31, 2023, showing a decrease in total revenue by 7.2% year-over-year, and a net loss of USD -101.9 million in contrast to the 345.2 million profit reported for the same period last year. This caused a sharp drop in the company’s stock price on May 30th. Investors should take into account Golar LNG’s quarterly revenue decline and resulting loss when evaluating the stock. As a result, investors should do their research into the company’s current performance and future prospects, as well as analyze risks and returns before deciding whether to buy or sell the stock.