(Bloomberg) -- Cheniere Energy Inc. boosted its full-year 2022 profit forecast beyond analysts’ expectations as the largest US exporter of liquefied natural gas said some shipments will depart sooner than anticipated. The shares rose.
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One measure of earnings is now seen at a midpoint of about $11.3 billion this year, up from $10.1 billion previously, the company said in a statement on Monday. Cash flow probably will be $1.2 billion higher than forecast at a midpoint of $8.4 billion.
Cheniere has benefited from booming overseas gas demand as European buyers seek replacements for supplies from Russia, which has restricted flows amid an increasingly bitter geopolitical standoff over its invasion of Ukraine.
Shares of Cheniere rose 3.1% at 5:07 p.m. in New York.
Cheniere, which has reached a final investment decision on its Corpus Christi Stage 3 Liquefaction Project in Texas, is now expecting to generate over $20 billion in cash through 2026, the company said.
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