Cheniere Energy Inc Reports Financial Results for the Third Quarter of 2024

LNG.A

2024-10-312mins

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Cheniere Energy, Inc. Reports Financial Results for the Third Quarter of 2024

Overview Cheniere Energy, Inc. ('Cheniere') (NYSE: LNG) has announced its financial results for the third quarter of 2024, ending September 30.

Key Financial Metrics

Metric	Q3 2024	Consensus Estimates
Revenue	$3.8 billion	$3.73 billion

Cheniere reported a revenue of approximately $3.8 billion, slightly beating the consensus estimate of $3.73 billion for the current quarter. The company's performance indicates a steady revenue stream despite fluctuations in international gas prices and derivative losses.

Key Developments and Operational Highlights - Repaid $150 million of long-term debt and repurchased 1.6 million shares for $282 million. - Increased quarterly dividend by 15% to $0.500 per share, payable November 18, 2024. - Announced a methane emissions intensity target for liquefaction facilities. - Produced and exported a cumulative 3,720 LNG cargoes since 2016. - Released its fifth annual Corporate Responsibility report. - Signed a 20-year LNG sale and purchase agreement with Galp Trading S.A. - Fitch Ratings upgraded Cheniere Corpus Christi Holdings' credit rating from BBB to BBB+. - S&P Global Ratings revised its outlook of CCH from stable to positive.

Comments from Company Officers Jack Fusco, President and CEO, emphasized the company’s focus on safety, execution, and capital discipline. He highlighted achievements such as the 1,000th LNG cargo and progress in Stage 3 production. Fusco expressed confidence in Cheniere’s operational excellence and its ability to meet global energy needs in the long term.

Dividends and Share Repurchase Program Cheniere increased its quarterly dividend by 15% to $0.500 per share. The company repurchased approximately 12.2 million shares for $2.0 billion during the first nine months.

Forward Guidance Cheniere raised and tightened its 2024 full-year guidance for Consolidated Adjusted EBITDA to $6.0 billion - $6.3 billion and Distributable Cash Flow to $3.4 billion - $3.7 billion.

Stock Price Movement Following the earnings release, Cheniere’s stock experienced a slight decrease, with a 0.33% drop in the aftermath.

Overall, Cheniere Energy’s quarterly performance reflects solid strategic execution despite market challenges, with strong positioning for continued growth and value creation.

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