Stock Monitor: Danaos Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 29, 2018 / If you want access to our free earnings report on Golar LNG Ltd (NASDAQ: GLNG) ("Golar"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GLNG. The Company its reported financial results on May 31, 2018, for the first quarter of the fiscal year 2018, ended March 31, 2018. The Company surpassed analysts' estimates for revenues in Q1 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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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:
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Earnings Highlights and Summary
For Q1 FY18, Golar's total operating revenues reached $66.19 million, reflecting an increase of 163.60% from $25.11 million in Q1 FY17, due to improvements in higher rates and round-trip economics. The Company's revenue numbers exceeded analysts' consensus estimates of $60.5 million.
For the quarter under review, Golar's time and voyage charter revenues advanced 258.61% to $45.63 million on a y-o-y basis; its time charter revenues (collaborative arrangement) jumped 97.41% to $14.48 million on a y-o-y basis; and its vessel and other management fees increased 20.32% to $6.08 million on a y-o-y basis.
Golar reported total operating expenses of $73.36 million in Q1 FY18, up 10.32% from $66.50 million in Q1 FY17. The Company's vessel operating expenses increased to $18.42 million in Q1 FY18, due to additional crew, repairs and maintenance, and logistics expenses in respect of the recently-reactivated Golar Viking. However, Golar's administrative expenses decreased to $14.02 million in Q1 FY18. The Company reported an operating income of $6.43million in the reported quarter compared to an operating loss of $41.39 million in the previous year's same quarter. Besides, Golar had earnings before interest, tax, depreciation, and amortization (EBITDA) of $22.84 million in Q1 FY18, 17.82% higher than $19.38 million in Q1 FY17.
Golar had a net financial expense of $13.29 million in Q1 FY18 compared to $3.78 million in Q1 FY17. The Company's net loss attributable to common shareholders was $21 million in the quarter ended March 31, 2018, versus a net loss of $65.84 million in the comparable period of last year.
Cash Matters
Golar had cash and cash equivalents of $172.38 million as on March 31, 2018, a decrease of 19.77% from $214.86 million as on December 31, 2017. The Company had a long-term debt of $1.10 billion as on March 31, 2018, up 7.06% from $1.03 billion as on December 31, 2017.
Golar's cash inflow from operating activities was $31.24 million in the three months ended March 31, 2018, compared to a cash outflow of $14.50 million in the corresponding period of last year.
Golar paid $5.03 million in dividends in Q1 FY18 compared to $5.14 million in Q1 FY17. The Company spent $89.85 million on additions to assets under development and $43.40 million on addition to investment in affiliates in the reported quarter.
Stock Performance Snapshot
June 28, 2018 - At Thursday's closing bell, Golar LNG's stock marginally fell 0.61%, ending the trading session at $29.17.
Volume traded for the day: 838.32 thousand shares.
Stock performance in the previous three-month period - up 6.62%; and past twelve-month period - up 30.05%
After yesterday's close, Golar LNG's market cap was at $2.89 billion.
The stock has a dividend yield of 0.69%.
The stock is part of the Services sector, categorized under the Shipping industry. This sector was up 0.4% at the end of the session.
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