Cheniere Energy raised its annual adjusted earnings forecast after third-quarter revenue increased 39% to $6.17 billion. The liquefied natural gas exporter shipped more cargoes and reported higher quarterly net income. Management also increased its quarterly dividend by more than 12%. Nine-month net income nevertheless fell, which the company attributed mainly to adverse fair-value changes in derivatives.
Cheniere Energy, a US producer and exporter of liquefied natural gas, reported third-quarter revenue of $6.17 billion on October 29, up from $4.44 billion a year earlier. The company’s official results put the increase at 39%. Quarterly net income rose 12% to $1.17 billion. Exported cargoes increased from 163 to 188, while their energy volume rose 17%.[1], [2]
Consolidated adjusted earnings before interest, taxes, depreciation and amortization reached $1.9 billion, up 18%. Management raised its annual forecast for that measure from $7.90 billion–$8.40 billion to $8.75 billion–$9.25 billion. Annual distributable cash flow guidance increased from $5.30 billion–$5.80 billion to $6.05 billion–$6.55 billion. Quarterly distributable cash flow was approximately $1.23 billion.[1]
The quarterly dividend increased more than 12% to $0.625 per share, payable on November 17 to holders registered on November 9. Cheniere repurchased $731 million of shares during the quarter and invested $740 million in growth projects. Nine-month net income fell from $3.028 billion to $736 million. The company attributed that decline mainly to unfavorable fair-value changes in derivative instruments.[1]
