Golar LNG (GLNG) Down 4.1% Since Last Earnings Report: Can It Rebound?
A month has gone by since the last earnings report for Golar LNG (GLNG). Shares have lost about 4.1% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Golar LNG due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Earnings Miss at Golar LNG in Q1
GLNG’s reported mixed first-quarter 2023 results, wherein earnings missed the Zacks Consensus Estimate but revenues beat.
GLNG’s first-quarter 2023 earnings of 80 cents per share missed the Zacks Consensus Estimate of $1.19.
Adjusted revenues of $74 million beat the Zacks Consensus Estimate of $73 million. The top line inched up by 1% year over year.
Revenues in the Floating Liquefied Natural Gas (FLNG) segment dropped 11% year over year. FLNG Hilli Episeyo maintained its 100% uptime in the quarter under review.
The FLNG unit contributed 76% to GLNG’s top line. The balance came from corporate and other sources. Adjusted EBITDA rose 4.4% year over year to $97.6 million in the quarter.
GLNG’s share of contractual debt at the end of the reported quarter decreased 34% to $1.2 billion. Golar LNG’s net loss was $101.9 million.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision flatlined during the past month.
VGM Scores
Currently, Golar LNG has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Golar LNG has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Golar LNG Limited (GLNG) : Free Stock Analysis Report
