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Golar LNG (GLNG) Shares Improve 3.6% Post Q4 Earnings Beat
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Golar LNG Limited (GLNG) shares have gained 3.6% since its fourth-quarter 2023 earnings release on Feb 29. The uptick can be attributed to the better-than-expected fourth-quarter 2023 results, wherein both earnings and revenues outpaced the Zacks Consensus Estimate.
Quarterly earnings of 90 cents surpassed the Zacks Consensus Estimate of 50 cents. Revenues of $78.6 million outpaced the Zacks Consensus Estimate of $76.8 million and improved year over year.
Golar LNG Limited Price, Consensus and EPS Surprise
Adjusted EBITDA of $114.24 million improved 31% year over year.
GLNG exited the fourth quarter of 2023 with cash and cash equivalents of $679.22 million compared with $727.13 million at the end of the prior quarter.
GLNG’s share of contractual debt at the end of the reported quarter increased 45% to $1.22 billion.
GLNG repurchased 2.9 million shares at an average price of $21.27 per share during 2023. During fourth-quarter 2023, it repurchased 1.3 million shares at an average price of $21.48 per share.
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) fourth-quarter 2023 earnings of $1.47 per share missed the Zacks Consensus Estimate of $1.74 and declined 23.4% year over year.
JBHT’s total operating revenues of $3,303.70 million surpassed the Zacks Consensus Estimate of $3,236.2 million but fell 9.5% year over year. Total operating revenues, excluding fuel surcharge revenue, fell 6% year over year.
Delta Air Lines (DAL - Free Report) reported fourth-quarter 2023 earnings (excluding $1.88 from non-recurring items) of $1.28 per share, which comfortably beat the Zacks Consensus Estimate of $1.17. Earnings, however, declined 13.51% on a year-over-year basis due to high labor costs.
Revenues of $14,223 million surpassed the Zacks Consensus Estimate of $14,069.5 million and increased 5.87% on a year-over-year basis, driven by strong holiday air travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $13,661 million, up 11% year over year.
United Airlines Holdings, Inc. (UAL - Free Report) reported fourth-quarter 2023 earnings per share (excluding 19 cents from non-recurring items) of $2.00, which outpaced the Zacks Consensus Estimate of $1.61 but declined 18.7% year over year.
Operating revenues of $13,626 million beat the Zacks Consensus Estimate of $13,546.8 million. The top line increased 9.9% year over year due to upbeat air travel demand. This was driven by a 10.9% rise in passenger revenues (accounting for 91.1% of the top line) to $12,421 million. Almost 41,779 passengers traveled on UAL flights in the fourth quarter.
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Golar LNG (GLNG) Shares Improve 3.6% Post Q4 Earnings Beat
Golar LNG Limited (GLNG) shares have gained 3.6% since its fourth-quarter 2023 earnings release on Feb 29. The uptick can be attributed to the better-than-expected fourth-quarter 2023 results, wherein both earnings and revenues outpaced the Zacks Consensus Estimate.
Quarterly earnings of 90 cents surpassed the Zacks Consensus Estimate of 50 cents. Revenues of $78.6 million outpaced the Zacks Consensus Estimate of $76.8 million and improved year over year.
Golar LNG Limited Price, Consensus and EPS Surprise
Golar LNG Limited price-consensus-eps-surprise-chart | Golar LNG Limited Quote
Adjusted EBITDA of $114.24 million improved 31% year over year.
GLNG exited the fourth quarter of 2023 with cash and cash equivalents of $679.22 million compared with $727.13 million at the end of the prior quarter.
GLNG’s share of contractual debt at the end of the reported quarter increased 45% to $1.22 billion.
GLNG repurchased 2.9 million shares at an average price of $21.27 per share during 2023. During fourth-quarter 2023, it repurchased 1.3 million shares at an average price of $21.48 per share.
Currently, GLNG carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Transportation Companies
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) fourth-quarter 2023 earnings of $1.47 per share missed the Zacks Consensus Estimate of $1.74 and declined 23.4% year over year.
JBHT’s total operating revenues of $3,303.70 million surpassed the Zacks Consensus Estimate of $3,236.2 million but fell 9.5% year over year. Total operating revenues, excluding fuel surcharge revenue, fell 6% year over year.
Delta Air Lines (DAL - Free Report) reported fourth-quarter 2023 earnings (excluding $1.88 from non-recurring items) of $1.28 per share, which comfortably beat the Zacks Consensus Estimate of $1.17. Earnings, however, declined 13.51% on a year-over-year basis due to high labor costs.
Revenues of $14,223 million surpassed the Zacks Consensus Estimate of $14,069.5 million and increased 5.87% on a year-over-year basis, driven by strong holiday air travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $13,661 million, up 11% year over year.
United Airlines Holdings, Inc. (UAL - Free Report) reported fourth-quarter 2023 earnings per share (excluding 19 cents from non-recurring items) of $2.00, which outpaced the Zacks Consensus Estimate of $1.61 but declined 18.7% year over year.
Operating revenues of $13,626 million beat the Zacks Consensus Estimate of $13,546.8 million. The top line increased 9.9% year over year due to upbeat air travel demand. This was driven by a 10.9% rise in passenger revenues (accounting for 91.1% of the top line) to $12,421 million. Almost 41,779 passengers traveled on UAL flights in the fourth quarter.