Upcoming AWS Coverage on Teekay GP L.L.C. Post-Earnings Results

LONDON, UK / ACCESSWIRE / December 6, 2016 / Active Wall St. announces its post-earnings coverage on Golar LNG Ltd. (NASDAQ: GLNG). The Company posted its financial results for the third quarter fiscal 2016 (Q3 FY16) on November 30, 2016. The Hamilton, Bermuda-based Company's total operating revenue rose sequentially during the reported quarter. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of Golar LNG's competitors within the Shipping space, Teekay GP L.L.C., the general partner of Teekay LNG Partners L.P., (NYSE: TGP), reported on November 03, 2016, its Partnership's results for the quarter ended September 30, 2016. AWS will be initiating a research report on Teekay GP L.L.C., in the coming days.

Today, AWS is promoting its earnings coverage on GLNG; touching on TGP. Get our free coverage by signing up to:

http://www.activewallst.com/registration-3/?symbol=GLNG

http://www.activewallst.com/registration-3/?symbol=TGP

Earnings Reviewed

In Q3 FY16, Golar LNG's total operating revenue improved to $22.27 million from $18.37 million recorded at the end of Q2 FY16. Total operating revenue numbers for Q3 FY16 beat market consensus estimates of $20.05 million. In the reported quarter, total operating expenses was down to $50.56 million from $55.62 million in Q2 FY16. For the reported period, the Company's vessel operating expenses was down by approximately $2.0 million to $12.10 million. Furthermore, the company's operating loss for Q3 FY16 was $28.29 million, which was lower than $37.25 million reported in the prior quarter.

Golar LNG reported net financial income of $7.64 million in Q3 FY16 compared to a net financial expense of $40.61 million in Q2 FY16. Due to improved shipment rates, the company's EBITDA loss narrowed to $11.3 million from EBITDA loss of $17.5 million in the last quarter. Furthermore, net loss attributed to Golar LNG declined to $23.94 million during Q3 FY16 from net loss of $84.60 million in the prior quarter.

During Q3 FY16, fleet utilization increased to 37% from 31% in Q2 FY16 and witnessed a rise in Time Charter Equivalent to 13,852 per day in Q3 FY16 from Q2 FY16 level of 8,792 per day.

Revenue Segmentation

Golar LNG' Time charter revenue for Q3 FY16 was $13.58 million compared to $12.35 million reported in Q2 FY16. The company's Time charter revenues with collaborative arrangement revenue improved to $4.56 million in Q3 FY16 from $3.34 million in Q2 FY16. Furthermore, vessel and other management fees revenue rose to $4.13 million in Q3 FY16 from $2.68 million in the previous quarter.

Cash Matters and Balance Sheet

During the three months ended September 30, 2016, Golar LNG' net cash provided by operating activities was $12.14 million compared to net cash used in operating activities of $63.66 million in Q2 FY16. As on September 30, 2016, the company had cash and cash equivalents balance of $137.90 million compared to $105.24 million as on December 31, 2015. Furthermore, the company reported long-term debt amounting to $1.07 billion as on September 30, 2016, versus $1.34 billion as on December 31, 2015.

Dividend

In a separate press release on November 30, 2016, Golar LNG's Board of Directors announced dividend of $0.05, which will be paid on January 06, 2017, to all shareholder on record as of December 14, 2016.

Stock Performance

At the closing bell, on Monday, the stock closed the trading session at $24.00, marginally up 0.17% from its previous closing price of $23.96. A total volume of 1.47 million shares have exchanged hands. Golar LNG's stock price advanced 15.55% in the last month, 9.89% in the past three months, and 37.55% in the previous six months. Furthermore, on a year to date basis, the stock soared 53.19%. The company's stock currently has a market cap of $2.35 billion.

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SOURCE: Active Wall Street