Executive Summary
Golar LNG Limited reported Q2 2024 (QQ2 2024) revenue of $64.689 million with a gross profit of $17.924 million and EBITDA of $51.275 million. Operating income stood at $8.546 million, while net income was $25.907 million driven predominantly by non-operating items, as total other income and expenses contributed $28.949 million to pre-tax earnings. After a minimal tax expense of $0.140 million, net income reached $25.907 million, yielding a net margin of approximately 40%. The strong non-operating inflows, coupled with disciplined operating expense management, produced a solid quarterly result but mask a relatively modest core operating performance. On the cash flow front, operating cash flow was $54.467 million and free cash flow was $27.986 million, underpinning a cash balance of $547.13 million at quarter-end.
Key Performance Indicators
QoQ: -0.42% | YoY:-16.56%
QoQ: -27.87% | YoY:-55.35%
QoQ: -87.17% | YoY:-4.67%
QoQ: -53.08% | YoY:670.01%
QoQ: -52.83% | YoY:682.75%
Key Insights
Revenue: $64.689m (YoY -16.6%, QoQ -0.4%); Gross Profit: $17.924m (YoY -55.3%, QoQ -27.9%); Operating Income: $8.546m (YoY -4.7%, QoQ -87.2%); Net Income: $25.907m (YoY +670.0%, QoQ -53.1%); EPS (diluted): $0.25 (YoY +682.8%, QoQ -52.8%). Margin highlights show Gross Margin 27.7%, Operating Margin 13.2%, Pretax Margin 57.9%, Net Margin 40.0%. OCF: $54.468m; Free Cash Flow: $27.986m; Cash at end: $547.13m. Balance sheet highlights include Total Assets $4.121B, Total Liabilities $1.457B, Total Equ...
Financial Highlights
Revenue: $64.689m (YoY -16.6%, QoQ -0.4%); Gross Profit: $17.924m (YoY -55.3%, QoQ -27.9%); Operating Income: $8.546m (YoY -4.7%, QoQ -87.2%); Net Income: $25.907m (YoY +670.0%, QoQ -53.1%); EPS (diluted): $0.25 (YoY +682.8%, QoQ -52.8%). Margin highlights show Gross Margin 27.7%, Operating Margin 13.2%, Pretax Margin 57.9%, Net Margin 40.0%. OCF: $54.468m; Free Cash Flow: $27.986m; Cash at end: $547.13m. Balance sheet highlights include Total Assets $4.121B, Total Liabilities $1.457B, Total Equity $2.086B, Net Debt $634.22m and a Current Ratio 1.24. Dividends paid in the period were $25.436m with a Dividend Payout Ratio of 0.982. Valuation shows Price to Book 1.55 and Price to Sales 50.06.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
64.69M |
-16.56% |
-0.42% |
| Gross Profit |
17.92M |
-55.35% |
-27.87% |
| Operating Income |
8.55M |
-4.67% |
-87.17% |
| Net Income |
25.91M |
670.01% |
-53.08% |
| EPS |
0.25 |
682.75% |
-52.83% |
Key Financial Ratios
operatingProfitMargin
13.2%
operatingCashFlowPerShare
$0.52
freeCashFlowPerShare
$0.27
dividendPayoutRatio
98.2%
Management Commentary
No QQ2 2024 earnings call transcript or highlights are available in the provided data. Transcript-based management quotes could not be extracted. If/when transcript data is provided, quotes will be organized by themes (strategy, operations, market conditions) with context and significance.
Forward Guidance
No formal forward-looking targets or guidance are present in the provided data. Given the business mix (LNG carriers, FLNG, FSRUs) and the LNG demand backdrop, investors should monitor: (i) fleet utilization and charter-rate developments across segments, (ii) pipeline of new charters or projects for FLNG/FSRU, (iii) refinancing risk and interest costs given elevated leverage, and (iv) capex plans and free cash flow generation relative to distribution commitments. The absence of explicit guidance means valuation and timing of returns will hinge on continued liquidity, market rates for LNG vessels, and macro LNG demand trends.