Golar LNG (GLNG) Rises Post Q3 Earnings Beat, Revenues Miss
Golar LNG Limited GLNG reported mixed third-quarter 2023 results, wherein earnings beat the Zacks Consensus Estimate but revenues missed the same.
GLNG’s third-quarter 2023 earnings of 55 cents per share surpassed the Zacks Consensus Estimate of 50 cents. Earnings rose 25% year over year. The earnings beat might have impressed investors as the stock improved 3.1% following the release of third-quarter results on Nov 21.
Adjusted revenues of $66.6 million lagged the Zacks Consensus Estimate of $67.4 million. The top line dipped 3% year over year.
Revenues in the Floating Liquefied Natural Gas (FLNG) segment gained 2.7% year over year.
Golar LNG Limited Price, Consensus and EPS Surprise
Golar LNG Limited price-consensus-eps-surprise-chart | Golar LNG Limited Quote
The FLNG unit contributed 83.8% to GLNG’s top line. The balance came from corporate and other sources. Adjusted EBITDA fell 12.3% year over year to $74.5 million in the quarter.
GLNG’s share of contractual debt at the end of the reported quarter increased 18% to $1.17 billion. Golar LNG’s net income was $92.5 million.
Golar LNG, currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Transportation Companies
United Airlines UAL reported third-quarter 2023 earnings per share (excluding 23 cents from non-recurring items) of $3.65, which outpaced the Zacks Consensus Estimate of $3.40 and climbed 29.9% year over year.
Operating revenues of $14,484 million outshined the Zacks Consensus Estimate of $14,441.8 million. The top line jumped 12.5% year over year due to upbeat air-travel demand.
J.B. Hunt Transport Services, Inc.’s JBHT third-quarter 2023 earnings per share of $1.80 fell short of the Zacks Consensus Estimate of $1.85 and declined 30% year over year.
Total operating revenues of $3,163.8 million also lagged the Zacks Consensus Estimate of $3,224 million and tumbled 18% year over year.
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