Summary
Cheniere Energy, Inc. reported a significant increase in total revenues for the nine months ended September 30, 2022, reaching $24.3 billion, a substantial jump from $9.3 billion in the same period of 2021. This growth was primarily driven by higher LNG prices reflecting appreciation in international indices, as well as increased delivery volumes due to expanded liquefaction capacity from new trains coming online. Despite strong revenue growth, the company reported a net loss attributable to common stockholders of $2.51 billion for the nine months ended September 30, 2022, compared to a net loss of $1.02 billion in the prior year. This widened net loss was largely attributable to significant non-cash derivative losses, particularly from commodity derivatives tied to international LNG prices. Investors should note the company's ongoing investment in growth, with the Corpus Christi Stage 3 Project progressing and a revised capital allocation plan focusing on debt reduction, dividend growth, and share repurchases.
Financial Highlights
52 data points| Revenue | $8.90B |
| R&D Expenses | $4.00M |
| SG&A Expenses | $92.00M |
| Operating Expenses | $11.87B |
| Operating Income | -$3.02B |
| Interest Expense | $354.00M |
| Net Income | -$2.38B |
| EPS (Basic) | $-9.54 |
| EPS (Diluted) | $-9.54 |
| Shares Outstanding (Basic) | 249.90M |
| Shares Outstanding (Diluted) | 249.90M |
Key Highlights
- 1Total revenues surged to $24.3 billion for the nine months ended September 30, 2022, up from $9.3 billion in the prior year, driven by higher LNG prices and increased volumes.
- 2Net loss attributable to common stockholders widened to $2.51 billion for the nine months ended September 30, 2022, from $1.02 billion in the prior year.
- 3Significant non-cash derivative losses, totaling $9.2 billion for the nine months ended September 30, 2022, were a primary driver of the increased net loss.
- 4The Corpus Christi Stage 3 Project is progressing, with 12.2% overall project completion as of September 30, 2022.
- 5Cheniere implemented a revised capital allocation plan in September 2022, prioritizing a leverage target reduction, a 20% dividend increase, and a $4.0 billion share repurchase authorization.
- 6The company's liquidity remains strong, with total available liquidity of $10.7 billion as of September 30, 2022, comprising cash, restricted cash, and credit facility commitments.
- 7Substantial completion of Train 6 at the Sabine Pass LNG Terminal was achieved in February 2022, and the third marine berth at Sabine Pass achieved substantial completion in October 2022.