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NEW YORK -On Thursday, Cheniere Energy Partners (NYSE:CQP) reported fourth quarter earnings that missed analyst expectations, while revenue came in above estimates.
The stock edged up 0.67% following the results.
The liquefied natural gas (LNG) company posted adjusted earnings per unit of $1.05 for the quarter, falling short of the $1.09 consensus estimate. Revenue totaled $2.46 billion, surpassing analyst projections of $2.19 billion.
Cheniere Partners generated net income of $623 million in Q4, down from $906 million in the same period last year. The company attributed the decrease primarily to unfavorable changes in fair value of derivative instruments.
"During the three and twelve months ended December 31, 2024, Cheniere Partners generated revenues of $2.5 billion and $8.7 billion, net income of $623 million and $2.5 billion, and Adjusted EBITDA of $890 million and $3.6 billion, respectively," said the company in its earnings release.
For the full year 2024, Cheniere Partners reported total revenues of $8.7 billion, down 10% YoY. The company exported 431 LNG cargoes in 2024, up slightly from 425 in 2023.
Looking ahead, Cheniere Partners introduced full year 2025 distribution guidance of $3.25 - $3.35 per common unit, maintaining a base distribution of $3.10 per unit.
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