GOLAR LNG Reports Record Q2 Earnings for FY2023
August 12, 2023
🌥️Earnings Overview
On June 30, 2023, GOLAR LNG ($NASDAQ:GLNG) reported their second quarter earnings for fiscal year 2023. Total revenue amounted to USD 77.5 million, representing a 28.2% increase compared to the same quarter of the previous year. However, net income was USD -4.5 million, a decrease of 230.0 million year-over-year.
Market Price
On Thursday, GOLAR LNG, the world’s leading liquefied natural gas (LNG) company, reported record earnings for the second quarter of FY2023. The company’s stock opened at $24.3 and closed at $23.0, a drop of 6.2% from its last closing price of 24.5. GOLAR LNG’s strong performance in the second quarter is attributed to its successful implementation of innovative technologies and business models that have allowed it to expand its reach and expand its presence in global markets.
In addition, the company’s strategic investments in research and development initiatives have enabled GOLAR LNG to remain competitive and provide cost-effective services to its customers. Overall, it appears that GOLAR LNG is continuing to grow and improve its financial performance, despite the challenges posed by the global pandemic. The company’s stock price has been volatile over the past few months, but these record earnings demonstrate that GOLAR LNG is well-positioned for the future. 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 have conducted a thorough analysis of GOLAR LNG‘s fundamentals. Our Risk Rating gave GOLAR LNG a score of 6 out of 10 on the financial and business aspects, indicating it is a medium risk investment. We have also detected 3 risk warnings in GOLAR LNG’s income sheet, balance sheet, and cashflow statement. If you are interested in learning more about these potential risks, please register on goodwhale.com to view our full analysis. We are confident that our comprehensive report will give you the insights you need to make an informed decision. 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‘s financials for Q2 of FY2023 showed total revenue of USD 77.5 million, a 28.2% increase year-over-year, but net income was USD -4.5 million, a decrease of 230.0 million from the same period last year. This resulted in a significant dip in Golar LNG’s stock price on June 30th, 2023. Investors should exercise caution when considering Golar LNG as an investment option. Despite the increase in revenues, the large decrease in net income signals that the company may not be able to maintain consistent performance and could experience inconsistencies in the future.
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