Summary
Cheniere Energy, Inc.'s (LNG) first quarter 2013 10-Q filing amendment addresses compliance with the Iran Threat Reduction and Syria Human Rights Act of 2012 (ITRA). The company itself reported no transactions with Iran or Iran-related entities during the quarter. However, due to its ownership structure and affiliations, disclosures from its affiliate, Blackstone, regarding its portfolio companies' activities with Iran were included. Investors should note these are indirect disclosures and Cheniere has not independently verified them. While Cheniere itself has no direct Iran-related dealings, the filing reveals indirect exposure through Blackstone's investments. Specific portfolio companies like Travelport, SunGard, and Hilton Worldwide have had limited transactions, primarily in the travel and hospitality sectors, with Iranian entities or those on the Specially Designated Nationals (SDN) list. These activities, for the most part, are reported as either exempt from sanctions, licensed, or have been terminated. Investors should monitor these disclosures for any potential future implications, although the reported activities are currently small in scale and largely historical or terminated.
Financial Highlights
51 data points| Revenue | $65.91M |
| R&D Expenses | $17.09M |
| Operating Expenses | $133.36M |
| Operating Income | -$67.45M |
| Interest Expense | $40.26M |
| Net Income | -$117.11M |
| EPS (Basic) | $-0.54 |
| EPS (Diluted) | $215634000.00 |
| Shares Outstanding (Basic) | 215.63M |
Key Highlights
- 1Cheniere Energy, Inc. had no direct transactions with Iran or Iran-related entities in Q1 2013.
- 2Disclosures regarding Iran-related transactions are made indirectly through Blackstone, a significant equity holder in Cheniere Partners.
- 3Blackstone's portfolio company Travelport provides travel-related services to Iran Air, with no specific revenue or profit figures provided.
- 4Blackstone's portfolio company SunGard provided disaster recovery services to Bank Saderat PLC (an SDN listed entity), with minimal revenue and profit reported for 2012 and Q1 2013; this contract has been terminated.
- 5Blackstone's portfolio company Hilton Worldwide engaged in limited hotel services with Iranian entities and Mahan Air (an SDN listed entity), reporting minor revenues and profits; these activities are claimed to be exempt or have been terminated.
- 6Cheniere Energy has not independently verified the disclosures made by Blackstone regarding its portfolio companies' Iran-related activities.