Venture Global Q2 revenue rises but misses estimates
VG•What drove results
The company said increases in net income and adjusted EBITDA were primarily driven by higher LNG sales volumes, predominantly from Plaquemines as a result of commissioning progress.
It also cited higher LNG sales prices net of feed gas costs due to higher implied liquefaction fees for LNG sold under commissioning sales agreements.
Venture Global said Calcasieu Pass produced 37 cargos in Q2, surpassing SPA obligations despite major scheduled maintenance, citing its modular approach as a strategic advantage.
Analyst view and valuation
The current average analyst rating on the shares is buy, with 11 strong buy or buy, 6 hold and 1 sell or strong sell.
The average consensus recommendation for the oil & gas exploration and production peer group is buy.
Wall Street's median 12-month price target for Venture Global, Inc. is $16.00, about 12.2% above its August 10 closing price of $14.26. The stock recently traded at 13 times the next 12-month earnings, versus a P/E of 11 three months ago.
