Published on 27 Feb 2024 on Zacks via Yahoo Finance

Cheniere (LNG) Q4 Earnings Decline Y/Y, Sales Beat Estimates

Cheniere Energy Inc. LNG reported fourth-quarter 2023 adjusted profit of $5.76 per share, which outpaced the Zacks Consensus Estimate of $2.70. This outperformance can be primarily attributed to a year-over-year decrease in costs and expenses. The bottom line, however, deteriorated from the year-ago quarter’s level of $15.78.

Revenues totaled $4.8 billion, which beat the Zacks Consensus Estimate of $4.5 billion. This can be attributed to the year-over-year increase in cargo shipped and a surge in volumes. However, the top line decreased 46.9% from the year-ago quarter’s level of $9.1 billion. This can be attributed to the year-over-year reduction in liquid natural gas and Regasification sales.

Cheniere reported adjusted EBITDA of $1.66 billion in the fourth quarter, down 45.2% from that recorded a year ago. This can be attributed to a reduction in the total profit margins per MMBtu of LNG transported, driven by lower global gas prices and a decrease in total sales volumes to short-term markets. Additionally, the decrease was somewhat influenced by lower revenues from regasification.