Golar LNG Q2 adjusted EBITDA beats estimates, revenue up
GLNG•Outlook
- Golar expects FLNG Esperanza to start operations in Argentina in H2 2028
- Company sees annual Adjusted EBITDA of $285 mln from FLNG Hilli's 20-year Argentina contract, plus commodity-linked upside
- Golar expects annual Adjusted EBITDA of $400 mln from FLNG Esperanza's 20-year contract, before commodity and inflation adjustments
Overview
- LNG infrastructure firm's Q2 operating revenue rose 72% yr/yr
- Adjusted EBITDA for Q2 beat analyst expectations
- Company made final investment decision for fourth FLNG unit, signed $2.45 bln EPC contract
Result Drivers
- Derivative gains - Higher realized gains on oil and gas derivative instruments, mainly from FLNG Hilli, contributed to increased Q2 earnings
- Strong FLNG Gimi performance - FLNG Gimi produced 15% above contracted volume and invoiced day rates were 15% higher than contractual rates
Key Details and Analyst Coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Operating Revenue | $130.48 mln |
