GOLAR LNG Reports FY2023 Q2 Earnings Results for Period Ending June 30 2023
August 25, 2023
🌥️Earnings Overview
GOLAR LNG ($NASDAQ:GLNG) announced their FY2023 Q2 earnings results for the period ending June 30 2023 on August 10. Their total revenue for the quarter was USD 77.5 million, a 28.2% increase from Q2 of the prior year. However, their reported net income was USD -4.5 million, down from 230.0 million in the same quarter of the previous year.
Market Price
The stock opened at $24.3 and closed at $23.0, a 6.2% drop from the prior closing price of 24.5. This is a drop in the company’s stock value that left investors concerned. GOLAR LNG attributed the lower-than-expected earnings to increased competition in the market, a decrease in demand for their products, and lower utilization of their assets. They also said that they are taking steps to address these issues and are confident that they will be able to turn things around in the upcoming quarters. The company’s management also said that they are optimistic about the future and plan to capitalize on new opportunities that will help them increase their revenue and profits.
They are also working on cost-cutting initiatives to reduce their expenses and increase their profitability. Overall, GOLAR LNG’s Q2 FY2023 earnings results were disappointing. Investors will be hoping that the company can turn things around in the upcoming quarters and restore investor confidence in their stock value. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Golar Lng. More…
| Total Revenues | Net Income | Net Margin |
| 279.07 | 106.15 | -133.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Golar Lng. More…
| Operations | Investing | Financing |
| 380.35 | 1.07k | -691.64 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Golar Lng. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.97k | 1.38k | 20.01 |
Key Ratios Snapshot
Some of the financial key ratios for Golar Lng are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -15.5% | -30.2% | 379.5% |
| FCF Margin | ROE | ROA |
| 59.7% | 30.0% | 14.8% |
Analysis
At GoodWhale, we provide you with the tools to analyze GOLAR LNG‘s fundamentals and make an informed investment decision. Our Risk Rating indicates that GOLAR LNG is a medium risk investment in terms of financial and business aspects. We have also detected 3 risk warnings in income sheet, balance sheet, cashflow statement. To find out more, register with us and explore our unique platform. We will help you make the most informed investment decision possible. 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 recently released their Q2 2023 earnings report for the period ending June 30, 2023. Total revenue increased 28.2% from the same period last year, but net income decreased from 230.0 million to -4.5 million. As a result of these results, the stock price dropped on the same day. For potential investors, it is important to analyze this company’s financial stability when looking to invest. Golar LNG has seen a growth in revenue but a substantial decline in their net income, indicating a decrease in profitability. Investors should consider both the potential opportunity for growth and the risk factors involved when considering an investment in Golar LNG.
Additionally, it is important to review other financial statements and metrics such as cash flow and debt-to-equity ratio to assess the health of the company and its long-term prospects before investing.
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