10-K/APeriod: FY2017

Cheniere Energy, Inc. Annual Report (Amendment), Year Ended Dec 31, 2017

Filed April 30, 2018For Securities:LNG

Summary

Cheniere Energy, Inc. (LNG) filed an amendment to its 2017 Annual Report on Form 10-K on April 29, 2018. This filing primarily details the exhibits and financial statement schedules related to the company's operations and agreements. For investors, the key takeaway is the extensive list of contracts and agreements that underpin Cheniere's substantial infrastructure projects, particularly in liquefied natural gas (LNG) export facilities. These exhibits provide critical detail on the framework governing its significant revenue streams and operational capabilities. The array of documents includes various indentures for senior secured notes and convertible notes, indicating a complex capital structure and ongoing financing activities. Furthermore, numerous LNG terminal use agreements, sales and purchase agreements, and construction contracts with major players in the energy sector (like Total, Chevron, Bechtel) highlight the company's established market position and operational scale. Investors should review these agreements for insights into long-term revenue visibility, counterparty risk, and project execution details.

Financial Highlights

51 data points
Beta

Revenue

$5.60B

44.3% Gross Margin

Net Income

-$393.00M

-7.0% Net Margin

EPS (Diluted)

$-1.68

Total Assets

$27.91B

Cash & Equivalents

$722.00M

Free Cash Flow

-$2.13B

Financial Statements
Beta
Revenue$5.60B
Cost of Revenue$3.12B
Gross Profit$2.48B
R&D Expenses$10.00M
SG&A Expenses$256.00M
Operating Expenses$4.21B
Operating Income$1.39B
Interest Expense$747.00M
Net Income-$393.00M
EPS (Basic)$-1.68
EPS (Diluted)$-1.68
Shares Outstanding (Basic)233.10M
Shares Outstanding (Diluted)233.10M

Key Highlights

  • 1The filing is an amendment to the 2017 10-K, primarily listing exhibits, offering detailed contractual information.
  • 2Extensive documentation of various senior secured and convertible notes indicates significant debt financing.
  • 3Numerous LNG Terminal Use Agreements with major energy companies (e.g., Total, Chevron) underscore long-term customer commitments and operational capacity.
  • 4Engineering, Procurement, and Construction (EPC) agreements with Bechtel for Sabine Pass and Corpus Christi liquefaction facilities show the scale of ongoing project development.
  • 5Amended and restated LNG Sale and Purchase Agreements with diverse buyers (e.g., Gas Natural Fenosa, GAIL, BG Gulf Coast LNG, PT Pertamina) illustrate broad market reach.
  • 6Inclusion of stock incentive plans and employment agreements points to executive compensation and employee engagement strategies.
  • 7The sheer volume and detail of referenced agreements suggest a mature and complex operational and financial structure.

Frequently Asked Questions

This filing is an amendment to Cheniere Energy's 2017 Annual Report (10-K). Its main purpose is to list and incorporate by reference various exhibits, including material contracts, agreements, and financial statements. For investors, it serves as a comprehensive appendix to the main 10-K, providing detailed documentation of the company's key operational and financial arrangements.

Investors should pay close attention to the LNG Terminal Use Agreements, LNG Sale and Purchase Agreements, and the various Indentures related to debt financing. These documents provide insights into the company's revenue streams, customer base, long-term contracts, project financing, and overall capital structure, which are crucial for assessing financial health and future growth prospects.

This specific filing (10-K/A) is primarily an exhibit list and does not present updated financial performance figures. The detailed financial statements and management's discussion and analysis would have been included in the original Form 10-K filing. This amendment serves to provide the underlying documentation for the information presented in the initial report.

The extensive list of agreements and change orders with Bechtel for both Sabine Pass and Corpus Christi liquefaction facilities indicates significant ongoing construction and development activities. It highlights the company's commitment to expanding its infrastructure, which is key for future growth, but also points to potential complexities and cost management related to large-scale projects.