Summary
Cheniere Energy, Inc. (LNG) filed an amendment to its Form 10-Q for the quarterly period ending September 29, 2015. The primary purpose of this amendment appears to be the disclosure of information related to Section 13(r) of the Securities Exchange Act of 1934, which requires reporting on certain transactions with Iran or designated entities. Cheniere Energy itself reported no such transactions during the quarter. However, the filing discloses information attributed to The Blackstone Group L.P. ("Blackstone"), a significant equity holder in Cheniere Energy Partners, L.P. Blackstone, through its portfolio companies Hilton Worldwide Holdings Inc. and Travelport Limited, reported certain dealings with Iranian entities or related activities. These disclosures are made due to Blackstone potentially being considered an affiliate of Cheniere Energy Partners. Investors should note that Cheniere Energy has not independently verified these disclosures from Blackstone's portfolio companies.
Financial Highlights
51 data points| Revenue | $66.06M |
| Cost of Revenue | -$24.21M |
| Gross Profit | $90.27M |
| R&D Expenses | $4.93M |
| SG&A Expenses | $97.33M |
| Operating Expenses | $118.13M |
| Operating Income | -$52.07M |
| Interest Expense | $93.57M |
| Net Income | -$297.81M |
| EPS (Basic) | $-1.31 |
| Shares Outstanding (Basic) | 227.13M |
| Shares Outstanding (Diluted) | 227.13M |
Key Highlights
- 1Cheniere Energy, Inc. did not engage in any direct transactions with Iran or designated Iranian entities during the quarter ending September 30, 2015.
- 2The filing addresses disclosure requirements under Section 13(r) of the Exchange Act concerning Iran-related transactions.
- 3Disclosures regarding Iran-related activities are provided by The Blackstone Group L.P. (a significant affiliate), not directly by Cheniere Energy.
- 4Blackstone's portfolio company, Hilton Worldwide Holdings Inc., reported minimal revenue ($5,320) and net profit ($495) from Iranian governmental stays at a Nigerian hotel, which Hilton believes are exempt from sanctions.
- 5Blackstone's portfolio company, Travelport Limited, reported revenues ($133,000) and net profits ($94,000) from providing travel technology services to Iran Air and Iran Air Tours, which Travelport believes are exempt or licensed.
- 6Cheniere Energy explicitly states it has not independently verified the Iran-related disclosures made by Blackstone's portfolio companies.
- 7The filing serves as an amendment to the prior 10-Q, indicating a need to include or clarify the Section 13(r) information.