Golar LNG (GLNG) Tops Q1 Revenues

Golar LNG (NASDAQ: GLNG) reported Q1 revenues for the quarter came in at $25.1 million versus the consensus estimate of $23.65 million.

Highlights

• Operating Loss and EBITDA* in the quarter reported a loss of $41.4 million and $16.2 million, respectively, compared to a 4Q loss of $32.7 million and $15.9 million.
• Issued a $402.5 million 2.75% five-year unsecured convertible bond with a capped call that gives an effective conversion premium and price of 75% and $48.86, respectively.
• Repaid balance of the 2012 five-year convertible bond and refinanced the debt facility in respect of LNG carrier Golar Crystal.
• Secured firm two-year contract for Golar Grand commencing 2Q 2017 and a 12-month contract for a carrier commencing 1Q 2018.

For earnings history and earnings-related data on Golar LNG (GLNG) click here.

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