Stock Monitor: Tsakos Energy Navigation Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 02, 2018 / Active-Investors.com has just released a free earnings report on Golar LNG Ltd (NASDAQ: GLNG). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GLNG. The Company released its financial results on November 30, 2017, for the third quarter of the fiscal year 2017. The Hamilton, Bermuda-based Company's total operating revenue rose sequentially during the reported quarter. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Tsakos Energy Navigation Limited (NYSE: TNP), which also belongs to the Services sector as the Company Golar LNG. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Golar LNG most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
In Q3 FY17, Golar LNG's total operating revenue improved to $32.43 million from the $28.41 million recorded at the end of Q2 FY17. The Company's total operating revenue numbers beat market consensus estimates of $24 million.
The natural gas shipping carrier operator reported a net loss of $43.88 million in Q3 FY17, which came in lower than the net loss of $73.81 million in Q2 FY17. The Company posted a comprehensive loss attributable to stockholders of Golar of $36.49 million in the three months ended September 30, 2017, compared to a comprehensive loss of $64.56 million in the three months ended June 30, 2017.
In the reported quarter, Golar LNG's total operating expenses rose to $55.33 million from $52.38 million in Q2 FY17. During the reported period, the Company's vessel operating expenses also increased to $13.83 million from $12.10 million in Q2 FY17. Meanwhile, the Company's operating loss narrowed to $22.90 million during Q3 FY17, which was below the $23.97 million reported in the prior quarter.
Golar LNG reported net financial expenses of $7.15 million in Q3 FY17 compared to $40.95 million in Q2 FY17. Meanwhile, the Company's earnings before interest, tax, depreciation, and amortization (EBITDA) loss narrowed to $5.51 million in Q3 FY17 from an EBITDA loss of $6.60 million in the last quarter.
Golar LNG's time and voyage charter revenues were $19.72 million for Q3 FY17, rising from the $19.56 million reported in Q2 FY17. The Company's time charter revenues, with collaborative arrangement revenues, came in at $5.28 million for Q3 FY17 compared to $4.40 million in Q2 FY17. Furthermore, the Company's vessel and other management fees revenue stood at $7.43 million for the reported quarter versus $4.45 million in the previous quarter.
Cash Matters and Balance Sheet
During the three months ended September 30, 2017, Golar LNG's net cash used by operating activities was $9.57 million compared to $16.48 million in Q2 FY17. As on September 30, 2017, the Company had a cash and cash equivalents balance of $286.56 million compared to $224.19 million as on December 31, 2016. Furthermore, the Company reported a long-term debt amounting to $1.10 billion as on September 30, 2017, versus $1.53 billion as on December 31, 2016.
In a separate press release on November 30, 2017, Golar LNG's Board of Directors announced a dividend of $0.05 per share. The dividend will be paid on January 04, 2018, to all shareholders of record as on December 14, 2017.
Stock Performance Snapshot
December 29, 2018 - At Friday's closing bell, Golar LNG's stock slightly declined 0.10%, ending the trading session at $29.81.
Volume traded for the day: 854.55 thousand shares.
Stock performance in the last month – up 17.97%; previous three-month period – up 31.84%; past twelve-month period – up 27.67%; and year-to-date – up 29.95%
After last Friday's close, Golar LNG's market cap was at $3.02 billion.
The stock has a dividend yield of 0.67%.
The stock is part of the Services sector, categorized under the Shipping industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.