We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Golar LNG (GLNG) Q4 Earnings Beat Estimates, Revenues up Y/Y
Read MoreHide Full Article
Golar LNG Limited (GLNG - Free Report) delivered impressive fourth-quarter 2018 results, with earnings and revenues beating the Zacks Consensus Estimate.
The company’s earnings of 32 cents per share outpaced the Zacks Consensus Estimate by 17 cents. Also, the bottom line improved significantly on a year-over-year basis.
Total operating revenues amounted to $181.9 million, which surpassed the consensus mark of $132 million. The top line surged more than 100% year over year. Increased vessel demand owing to start-up of LNG production facilities drove the top line.
Of the total figure, revenues from vessel and other operations contributed 70% to the top line and amounted to $127.4 million. Revenues from FLNG operations came in at $54.5 million. Improved shipping activity led to increase in Time Charter Equivalent1 ("TCE") earnings of $77,600 per day in the quarter under discussion compared with $41,200 in the prior quarter.
Vessel operating expenses came in at $29.1 million compared with $28.9 million in the prior quarter. While administrative expenses fell to $12.7 million from $14.8 million in the third quarter, project development expenses declined to $4.7 million compared with $5.7 million in the prior quarter. Depreciation and amortization expenses of $28.3 million came almost in line with the prior quarter’s figure.
Golar LNG Limited Price, Consensus and EPS Surprise
This Zacks Rank #3 (Hold) company exited 2018 with cash and cash equivalents of $704.3 million compared with $214.9 million at December 2017 end. As of Dec 31, 2018, the company’s adjusted long-term debt totaled $2.1 billion compared with $1.02 billion as of Dec 31, 2017. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Dividend
Concurrent with the earnings release, the board of directors approved a quarterly dividend payment of 15 cents per share. The dividend will be paid on April 3, 2019 to shareholders of record as on Mar 14, 2019.
Outlook
The company expects improved operational efficiency in 2019 on the back of strength in shipping market activity and benefits from FLNG Hilli Episeyo operations. However, TCE rates are anticipated to decline significantly in the first quarter of 2019 compared with the quarter under discussion.
Stocks to Consider
Investors interested in the broader Transportation Sector may consider Azul S.A. (AZUL - Free Report) , Frontline Ltd. (FRO - Free Report) and Expeditors International of Washington, Inc. (EXPD - Free Report) , each sporting a Zacks Rank #1 (Strong Buy).
All the three stocks flaunt impressive earnings surprise history. Azul outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average being 97.9%. Frontline outpaced the consensus mark in each of the trailing four quarters with an average of 69%. Expeditors outpaced the consensus mark in each of the trailing four quarters with an average of 14.5%.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
Image: Bigstock
Golar LNG (GLNG) Q4 Earnings Beat Estimates, Revenues up Y/Y
Golar LNG Limited (GLNG - Free Report) delivered impressive fourth-quarter 2018 results, with earnings and revenues beating the Zacks Consensus Estimate.
The company’s earnings of 32 cents per share outpaced the Zacks Consensus Estimate by 17 cents. Also, the bottom line improved significantly on a year-over-year basis.
Total operating revenues amounted to $181.9 million, which surpassed the consensus mark of $132 million. The top line surged more than 100% year over year. Increased vessel demand owing to start-up of LNG production facilities drove the top line.
Of the total figure, revenues from vessel and other operations contributed 70% to the top line and amounted to $127.4 million. Revenues from FLNG operations came in at $54.5 million. Improved shipping activity led to increase in Time Charter Equivalent1 ("TCE") earnings of $77,600 per day in the quarter under discussion compared with $41,200 in the prior quarter.
Vessel operating expenses came in at $29.1 million compared with $28.9 million in the prior quarter. While administrative expenses fell to $12.7 million from $14.8 million in the third quarter, project development expenses declined to $4.7 million compared with $5.7 million in the prior quarter. Depreciation and amortization expenses of $28.3 million came almost in line with the prior quarter’s figure.
Golar LNG Limited Price, Consensus and EPS Surprise
Golar LNG Limited Price, Consensus and EPS Surprise | Golar LNG Limited Quote
Liquidity
This Zacks Rank #3 (Hold) company exited 2018 with cash and cash equivalents of $704.3 million compared with $214.9 million at December 2017 end. As of Dec 31, 2018, the company’s adjusted long-term debt totaled $2.1 billion compared with $1.02 billion as of Dec 31, 2017. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Dividend
Concurrent with the earnings release, the board of directors approved a quarterly dividend payment of 15 cents per share. The dividend will be paid on April 3, 2019 to shareholders of record as on Mar 14, 2019.
Outlook
The company expects improved operational efficiency in 2019 on the back of strength in shipping market activity and benefits from FLNG Hilli Episeyo operations. However, TCE rates are anticipated to decline significantly in the first quarter of 2019 compared with the quarter under discussion.
Stocks to Consider
Investors interested in the broader Transportation Sector may consider Azul S.A. (AZUL - Free Report) , Frontline Ltd. (FRO - Free Report) and Expeditors International of Washington, Inc. (EXPD - Free Report) , each sporting a Zacks Rank #1 (Strong Buy).
All the three stocks flaunt impressive earnings surprise history. Azul outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average being 97.9%. Frontline outpaced the consensus mark in each of the trailing four quarters with an average of 69%. Expeditors outpaced the consensus mark in each of the trailing four quarters with an average of 14.5%.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
See Stocks Today >>