Golar LNG Q1 Net Income Soars 920% to $84M; Adjusted EBITDA Hits $106M
Golar LNG reported Q1 2026 net income of $84 million, up 920% year-over-year, and adjusted EBITDA of $106 million. It offloaded its 150th FLNG Hilli cargo, achieved 19% overproduction on FLNG Gimi and secured an 8-year, 2 mtpa LNG supply deal starting 2027.
1. Q1 Financial Results
Golar LNG posted Q1 2026 net income of $84 million, compared with $8.2 million a year earlier, while adjusted EBITDA rose to $106 million from $40.9 million in Q1 2025. Cash on hand stood at $1.0 billion against contractual debt of $2.71 billion.
2. Operational Performance
The FLNG Hilli vessel offloaded its 150th cargo during the quarter, and the FLNG Gimi unit produced 19% above its contracted volume, boosting liquefaction services and lease revenues. Lower operating costs partially offset reduced realized gains on derivative instruments.
3. Strategic Developments
Golar signed an 8-year agreement to supply up to 2 million tonnes of LNG per annum from 2027, engaged an advisor to evaluate strategic alternatives and declared a $0.25 quarterly dividend. The company aims to order its fourth FLNG vessel by the end of 2026.